secwatch.observer — SEC 8-K summary
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Issuer:     MEXCO ENERGY CORP (MXC)
CIK:        0000066418
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0001493152-23-022514
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mexco Energy FY2023 net income $4.66M ($2.11/diluted), revenue $9.56M (+45% YoY)
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- Net income $4,662,702 ($2.11/diluted) vs $2,855,066 ($1.32) in FY2022, an increase of 63%.
- Operating revenues $9,557,289, up 45% from $6,587,780, driven by 28% production increase and 12% price increase.
- Participated in drilling 54 wells (50 horizontal, 4 vertical) at cost ~$4.2M; expects 26 wells drilled in FY2024 at ~$2.1M.
- Cash on hand $3.27M, no bank debt; profit margin 49%, return on equity 32%.
- Acquired royalty/mineral interests in ~30 wells for ~$120,000; proved reserves PV10 ~$39M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66418/000149315223022514/0001493152-23-022514-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66418/000149315223022514/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-022514

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