MEXCO ENERGY CORP

Listed Company

MXCCIK 0000066418NYSENon-AcceleratedSmaller ReportingCrude Petroleum & Natural GasColoradoFY ends Mar 31

Period

FY 2025

Revenue

$7.36M

Net Income

$1.71M

Total Assets

$20.35M

Equity

$18.71M

Shares Out

2.05M

Op. Cash Flow

$4.27M

Business

MEXCO ENERGY CORP is an independent oil and gas company engaged in the acquisition, exploration, development and production of hydrocarbon properties in the United States. The company produces and markets crude oil, natural gas, condensate and natural gas liquids and pursues acquisitions of royalty, overriding royalty, mineral and working interests as well as non‑operated producing acreage and minority royalty investments. Its activities are organized around evaluating and acquiring producing and proved undeveloped reserves and managing non‑operated interests. Operations are concentrated in the Permian Basin (Delaware and Midland areas) and extend across multiple U.S. states, with production sold to third‑party purchasers via industry distribution channels.

Summary from filing dated 2025-06-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Total operating revenues	7	7	10	7	3
Production	2	2	2	1	871,963
Accretion of asset retirement obligation	29,983	29,869	30,532	28,560	28,548
Depreciation, depletion and amortization	2	2	2	1	906,361
General and administrative	1	1	1	949,079	833,431
Total operating expenses	5	5	5	4	3
Operating income	2	2	5	3	158,701
Interest income	72,629	135,476	8,009	340	706
Interest expense	−6,150	−5,234	—	—	—
Net other income (expense)	66,479	130,242	−5,088	−26,172	−2,769
Income before provision for income taxes	2	2	5	3	155,932
Provision for income taxes	304,330	620,544	164,510	102,356	—
Net income	2	1	5	3	155,932
Basic: (per share)	0.83	0.64	2.17	1.36	0.08
Diluted: (per share)	0.81	0.62	2.11	1.32	0.08
Basic: (shares)	2	2	2	2	2
Diluted: (shares)	2	2	2	2	2
Dividends declared per share	0.1	0.1	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Cash and cash equivalents	2	2	2	1	57,813
Oil and natural gas sales	1	1	1	1	621,384
Trade	67,951	9,186	7,031	—	30,402
Prepaid drilling	24,381	148,748	67,951	—	—
Prepaid costs and expenses	60,981	56,193	56,502	52,636	47,895
Total current assets	3	4	4	3	757,494
Oil and gas properties, using the full cost method	52	48	45	40	39
Other	121,926	121,926	121,926	120,208	120,208
Accumulated depreciation, depletion and amortization	−37	−34	−32	−30	−29
Property and equipment, net	15	14	13	10	10
Investment cost basis	2	1	700,000	275,000	—
Operating lease, right-of-use asset	126,525	19,263	75,629	129,923	20,861
Other noncurrent assets	4,298	8,597	12,156	13,156	83,389
Total assets	20	19	18	13	11
Accounts payable and accrued expenses	307,387	221,603	201,897	209,469	116,569
Income tax payable	192,802	189,254	—	—	—
Operating lease liability, current	51,003	19,263	56,366	54,294	21,965
Total current liabilities	551,192	430,120	258,263	263,763	138,534
Operating lease liability, long-term	75,522	—	19,263	75,629	—
Deferred income tax liability	320,604	311,661	—	—	—
Asset retirement obligations	688,842	688,808	710,276	720,512	713,797
Total long-term liabilities	1	1	729,539	796,141	2
Total liabilities	2	1	987,802	1	2
Commitments and contingencies	—	—	—	—	—
Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding	—	—	—	—	—
Common stock - $0.50 par value; 40,000,000 shares authorized; 2,239,283 and 2,226,916 shares issued; and, 2,046,000 and 2,091,399 shares outstanding as of March 31, 2025 and 2024	1	1	1	1	1
Additional paid-in capital	9	9	8	8	8
Retained earnings	11	9	8	3	473,361
Treasury stock, at cost (193,283 and 135,517 shares, respectively)	−2	−1	−590,495	−346,001	−346,001
Total stockholders equity	19	18	17	12	9
Total liabilities and stockholders equity	20	19	18	13	11

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Deferred income tax expense	8,943	311,661	—	—	—
Stock-based compensation	205,639	229,799	142,783	87,573	55,678
Amortization of debt issuance costs	4,299	4,309	12,570	12,526	12,526
(increase) Decrease in accounts receivable	−170,644	362,920	−63,678	−658,351	−367,089
(Increase) decrease in right-of-use asset	−107,262	56,366	54,294	−109,062	55,269
(increase) Decrease in prepaid expenses	−4,788	309	−8,866	−4,740	2,292
Increase in accounts payable and accrued expenses	69,059	16,198	−33,475	95,140	3,223
Increase (decrease) in operating lease liability	107,262	−56,366	−54,294	107,959	−54,739
Increase in income tax payable	3,548	189,254	—	—	—
Settlement of asset retirement obligations	−41,480	−25,078	−80,720	−15,699	−19,380
Net cash provided by operating activities	4	4	7	4	710,047
Additions to oil and gas properties	−3	−3	−5	−2	−2
Drilling refund	59,471	26,194	295,679	241,702	136,236
Investment in limited liability companies at cost	−1	−400,000	−425,000	−75,000	−50,000
Proceeds from sale of oil and gas properties and equipment	202,570	306,633	—	11,969	121,378
Net cash used in investing activities	−4	−3	−5	−2	−1
Proceeds from exercise of stock options	77,641	19,662	16,700	458,570	247,435
Proceeds from long-term debt	650,000	275,000	675,000	275,000	935,000
Debt issuance costs	—	−750	−12,200	—	—
Dividends paid	−209,000	−213,600	—	—	—
Acquisition of treasury stock	−703,216	−585,035	−244,494	—	—
Reduction of long-term debt	−650,000	−275,000	−675,000	−1	−550,000
Net cash used in financing activities	−834,575	−779,723	−209,815	−721,430	701,009
Net (decrease) increase in cash and cash equivalents	−719,529	237,713	865,005	1	23,432
Cash paid for interest	1,852	925	528	14,834	39,269
Cash paid for income taxes	228,487	—	—	—	—
Accrued capital expenditures included in accounts payable	38,417	21,693	28,186	2,280	4,523
Asset retirement obligations	5,231	7,617	23,492	14,333	17,587

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