secwatch.observer — SEC 8-K summary
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Issuer:     MEXCO ENERGY CORP (MXC)
CIK:        0000066418
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001493152-23-027634
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mexco Energy Q1 net income falls 64% to $466k; revenue down 29%
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- Net income of $465,614 ($0.21/diluted share) vs $1,298,672 ($0.59) in prior-year quarter.
- Operating revenue $1.75M, down 29% YoY; average oil price -33%, natural gas price -69%.
- Oil production +37%, natural gas production +9%; oil contributed 82% of revenues.
- Plans to participate in 40 horizontal wells and complete 21 from prior year; estimated $2.2M spend.
- Cash on hand $2.6M, no bank debt; evaluating increased opportunities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66418/000149315223027634/0001493152-23-027634-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66418/000149315223027634/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-027634

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