Mexco Energy Corporation Reports Financial Results for First Quarter
Mexco Energy (NYSE American: MXC) reported financial results for its first quarter of fiscal 2025 ending June 30, 2024. The company achieved net income of $291,039, or $0.14 per diluted share. Operating revenues were $1,727,835, a slight decrease of 1% compared to the same quarter last year. This decline was primarily attributed to a 36% decrease in average natural gas sales prices and a 3.5% decrease in oil and natural gas production. However, these factors were partially offset by a 9% increase in average oil sales prices.
Oil contributed 87% of the company's operating revenues for the quarter. Mexco Energy plans to participate in the drilling of 30 and completion of 19 horizontal wells at an estimated cost of $2.2 million for the fiscal year ending March 31, 2025, with $320,000 already expended.
Mexco Energy (NYSE American: MXC) ha riportato i risultati finanziari per il primo trimestre dell'anno fiscale 2025, terminato il 30 giugno 2024. L'azienda ha registrato un utile netto di $291,039, ovvero $0.14 per azione diluita. I ricavi operativi sono stati $1,727,835, con un leggero calo dell'1% rispetto allo stesso trimestre dell'anno scorso. Questa diminuzione è stata principalmente attribuita a un calo del 36% nei prezzi di vendita medi del gas naturale e a un diminuizione del 3.5% nella produzione di petrolio e gas naturale. Tuttavia, questi fattori sono stati parzialmente compensati da un aumento del 9% nei prezzi di vendita medi del petrolio.
Il petrolio ha contribuito 87% dei ricavi operativi dell'azienda per il trimestre. Mexco Energy prevede di partecipare alla a un costo stimato di $2.2 milioni per l'anno fiscale che termina il 31 marzo 2025, con $320,000 già spesi.
Mexco Energy (NYSE American: MXC) informó los resultados financieros para su primer trimestre del año fiscal 2025 que finalizó el 30 de junio de 2024. La compañía logró un ingreso neto de $291,039, o $0.14 por acción diluida. Los ingresos operativos fueron $1,727,835, una ligera disminución del 1% en comparación con el mismo trimestre del año pasado. Esta disminución se atribuyó principalmente a una disminución del 36% en los precios de venta promedio del gas natural y a una baja del 3.5% en la producción de petróleo y gas natural. Sin embargo, estos factores fueron parcialmente compensados por un aumento del 9% en los precios de venta promedio del petróleo.
El petróleo contribuyó 87% de los ingresos operativos de la compañía para el trimestre. Mexco Energy planea participar en la perforación de 30 y finalización de 19 pozos horizontales con un costo estimado de $2.2 millones para el año fiscal que finaliza el 31 de marzo de 2025, con $320,000 ya gastados.
Mexco Energy (NYSE American: MXC)는 2024년 6월 30일로 종료된 2025 회계연도 첫 분기 재무 결과를 보고했습니다. 회사는 순이익 $291,039, 희석주당 $0.14를 기록했습니다. 운영 수익은 $1,727,835로, 지난해 같은 분기 대비 1% 소폭 감소했습니다. 이 감소는 주로 자연가스 평균 판매 가격이 36% 하락하고 석유 및 천연가스 생산이 3.5% 감소된 것으로 인한 것입니다. 그러나 이러한 요소는 석유 평균 판매 가격이 9% 상승하면서 부분적으로 상쇄되었습니다.
석유는 분기 동안 회사의 운영 수익의 87%를 차지했습니다. Mexco Energy는 2025년 3월 31일로 끝나는 회계연도에 30개 수평 유정의 시추 및 19개 완료에 참여할 계획이며, 예상 비용은 $2.2백만입니다. $320,000은 이미 지출되었습니다.
Mexco Energy (NYSE American: MXC) a annoncé les résultats financiers pour son premier trimestre de l'exercice fiscal 2025 se terminant le 30 juin 2024. La société a réalisé un revenu net de 291,039 $, soit 0,14 $ par action diluée. Les revenus d'exploitation se sont élevés à 1,727,835 $, une légère baisse de 1 % par rapport au même trimestre de l'année dernière. Cette baisse était principalement attribuée à une baisse de 36 % des prix de vente moyens du gaz naturel et à une baisse de 3,5 % de la production de pétrole et de gaz naturel. Cependant, ces facteurs ont été partiellement compensés par une augmentation de 9 % des prix de vente moyens du pétrole.
Le pétrole a contribué à 87 % des revenus d'exploitation de la société pour le trimestre. Mexco Energy prévoit de participer à la forage de 30 et à l'achèvement de 19 puits horizontaux à un coût estimé de 2,2 millions $ pour l'exercice fiscal se terminant le 31 mars 2025, avec 320,000 $ déjà dépensés.
Mexco Energy (NYSE American: MXC) berichtete über die finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025, das am 30. Juni 2024 endete. Das Unternehmen erzielte einen Nettogewinn von $291,039, oder $0,14 pro verwässerter Aktie. Die Betriebseinnahmen betrugen $1,727,835, was einem leichten Rückgang von 1 % im Vergleich zum gleichen Quartal des letzten Jahres entspricht. Dieser Rückgang wurde hauptsächlich auf einen Rückgang der durchschnittlichen Verkaufspreise für Erdgas um 36 % und einen Rückgang der Erdöl- und Erdgasproduktion um 3,5 % zurückgeführt. Diese Faktoren wurden jedoch teilweise durch einen Anstieg der durchschnittlichen Verkaufspreise für Erdöl um 9 % ausgeglichen.
Erdöl trug 87 % zu den Betriebseinnahmen des Unternehmens im Quartal bei. Mexco Energy plant, an der Bohrung von 30 und der Fertigstellung von 19 horizontalen Bohrlöchern teilzunehmen, wobei die geschätzten Kosten $2,2 Millionen betragen und $320,000 bereits ausgegeben wurden.
- Net income of $291,039 or $0.14 per diluted share
- 9% increase in average oil sales prices
- Oil contributed 87% of operating revenues
- Planned participation in drilling and completion of multiple horizontal wells
- 1% decrease in operating revenues compared to the previous year
- 36% decrease in average natural gas sales prices
- 3.5% decrease in oil and natural gas production
Insights
Mexco Energy's Q1 FY2025 results show a mixed performance. The
The company's planned participation in 30 new horizontal wells with a
Mexco's Q1 results reflect the volatile nature of the energy market. The company's resilience in maintaining profitability despite lower natural gas prices is noteworthy. The
The planned drilling of 30 horizontal wells signals an aggressive growth strategy, typical for smaller E&P companies in the Permian Basin. This approach could potentially boost production and reserves but also increases financial risk. The
MIDLAND, TX, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of
Operating revenues in the first quarter of fiscal 2025 were
The Company currently expects to participate in the drilling of 30 and completion of 19 horizontal wells at an estimated aggregate cost of approximately
Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties primarily in the Permian Basin. For more information on Mexco Energy Corporation, go to www.mexcoenergy.com.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Mexco Energy Corporation cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may impact the Company's actual results of operations. These risks include, but are not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, exploration risks, uncertainties about estimates of reserves, competition, government regulation, and mechanical and other inherent risks associated with oil and gas production. A discussion of these and other factors, including risks and uncertainties, is set forth in the Company's Form 10-K for the fiscal year ended March 31, 2024. Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.
For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer of Mexco Energy Corporation, (432) 682-1119.
FAQ
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