secwatch.observer — SEC 8-K summary
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Issuer:     MEXCO ENERGY CORP (MXC)
CIK:        0000066418
Form:       8-K
Filed at:   2024-02-09T23:59:59+00:00
Accession:  0001493152-24-005546
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mexco Energy Q3 net income rises 28% sequentially to $345,610; nine-month net income down 71% YoY
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- Net income for Q3 fiscal 2024 (Dec 31, 2023) was $345,610 ($0.16/diluted), up 28% from Q2 fiscal 2024's $269,433.
- Nine-month net income fell 71% YoY to $1,080,657 ($0.50/diluted); operating revenues decreased 35% to $4,811,472.
- Average oil price nine months $77.06/bbl (down 18% YoY), natural gas $2.12/Mcf (down 66% YoY); BOE production down 2%.
- Cash on hand $3.4M, no bank debt; plans to participate in 49 wells (45 in Delaware Basin) with estimated cost $2.2M for fiscal year.
- Spent $450,000 on completion costs for 21 DUC wells in Lea County, NM; 20 wells producing since Oct 2023 at avg 1,437 BOE/day/well.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66418/000149315224005546/0001493152-24-005546-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66418/000149315224005546/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-005546

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