Mexco Energy Corporation (NYSE American: MXC) reported a net income of $945,152, or $0.45 per diluted share, for the six months ended September 30, 2026. This figure represents a 67% increase compared to the $565,457, or $0.27 per diluted share, reported for the same period in the prior year.
Operating revenues for the first six months of fiscal 2027 totaled $4,102,157, an increase of 21% from $3,386,580 in the prior year. The company attributes this revenue growth primarily to a 43% increase in the average oil price, which was partially offset by a 23% decrease in the average natural gas price and a 7% decrease in oil production.
In terms of capital expenditures, Mexco Energy expects to participate in the drilling of 55 horizontal wells and the completion of 20 horizontal wells during the fiscal year ending March 31, 2027. The company estimates the aggregate cost of these activities to be approximately $1.8 million, with $900,000 already expended to date. Additionally, the company invested approximately $3.2 million during the first six months of fiscal 2027 to acquire oil and gas royalty interests.
Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company based in Midland, Texas, engaged in the acquisition, exploration, and development of oil and gas properties primarily in the Permian Basin.
