secwatch.observer — SEC 8-K summary
======================================

Issuer:     MEXCO ENERGY CORP (MXC)
CIK:        0000066418
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0001493152-24-025474
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 fiscal 2024 net income $1.34M ($0.64 EPS), revenue $6.6M, oil reserves up 9%
--------------------------------------------------------------------------------

- Net income $1,344,952 ($0.64 diluted EPS) on operating revenues of $6,604,884 for fiscal year ended March 31, 2024.
- Average realized oil price $76.40/bbl, natural gas $2.22/Mcf; oil comprised 83% of product sales.
- Proved oil reserves up 9% to 791 Mbbl, natural gas down 8% to 4.537 Bcf; PV-10 of ~$29 million.
- Participated in 52 wells (51 horizontal) at ~$2.3M cost; expects to drill 30 & complete 19 wells in FY2025 at ~$2.2M.
- Cash on hand ~$2.4M, no bank debt; acquired royalty/mineral interests in 348 gross wells for ~$1.8M, funded from cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66418/000149315224025474/0001493152-24-025474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66418/000149315224025474/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-025474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer