Last $7.44 USD
Change Today -0.01 / -0.13%
Volume 11.1K
MXC On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

mexco energy corp (MXC) Snapshot

Open
$7.48
Previous Close
$7.45
Day High
$7.53
Day Low
$7.30
52 Week High
03/10/14 - $11.14
52 Week Low
07/12/13 - $5.12
Market Cap
15.2M
Average Volume 10 Days
13.9K
EPS TTM
$0.14
Shares Outstanding
2.0M
EX-Date
--
P/E TM
54.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for MEXCO ENERGY CORP (MXC)

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mexco energy corp (MXC) Details

Mexco Energy Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of natural gas, crude oil, condensate, and natural gas liquids in the United States. It owns interests in and operates 18 producing wells and 1 water injection well; and partial interests in an additional 3,269 producing wells located in the states of Texas, New Mexico, Oklahoma, Louisiana, Alabama, Mississippi, Arkansas, Wyoming, Kansas, Colorado, Montana, and North Dakota. As of March 31, 2013, the company’s total estimated proved reserves were approximately 7.844 billion cubic feet of natural gas and 366,000 barrels of oil and natural gas liquids. It also had interests in 29.3 net oil and gas wells, and owned leasehold interests in approximately 3,942 net acres. The company was formerly known as Miller Oil Company and changed its name to Mexco Energy Corporation in April 1980. Mexco Energy Corporation was founded in 1972 and is based in Midland, Texas.

3 Employees
Last Reported Date: 07/1/13
Founded in 1972

mexco energy corp (MXC) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: --
President, Chief Financial Officer, Treasurer...
Total Annual Compensation: $203.5K
Vice President and Corporate Secretary
Total Annual Compensation: $6.0K
Compensation as of Fiscal Year 2013.

mexco energy corp (MXC) Key Developments

Mexco Energy Corporation Announces Drilling of Certain Properties in the Permian Basin of West Texas

Mexco Energy Corporation announced the drilling of certain properties in the Permian Basin of West Texas. The company is participating as a working interest owner in a joint venture drilling four vertical development wells to a depth of 11,000 feet on 160 acre spacing in the Dean, Wolfcamp, Cline and Atoka formations on 640 acres in Reagan County, Texas. Initial per day production rates from two of these wells respectively are 128 barrels of oil and 110,000 cubic feet of natural gas and 94 barrels of oil and 179,000 cubic feet of natural gas. Mexco's working interest in this joint venture is 0.3% (0.24% net revenue interest). These wells will hold the deep rights for further development by horizontal drilling. The Wolfcamp formation in this area is an approximately 1,700 feet thick section consisting of interbedded organic shales and carbonates and includes two reservoir units, the 'A' and 'B' benches that have both been successfully developed with horizontal wells.

Mexco Energy Corporation Announces Plans for Drilling Properties

Mexco Energy Corporation announced plans to drill certain oil and gas properties in the Permian Basin of West Texas. The company will participate as a working interest owner in a joint venture for seven horizontal wells developing the Wolfcamp formation on a 1,125 acre property in Reagan County, Texas. These wells are to be drilled during 2014 using horizontal drilling and multi-stage fracture stimulation. Mexco's estimated costs in this development for its approximately 0.57% working interest (0.49% net revenue interest) are $350,000. The Wolfcamp formation in this area is approximately 1,700 feet thick section consisting of interbedded organic shales and carbonates. The Wolfcamp formation in this area includes two reservoir units, the "A" and "B" benches that have both been successfully developed with horizontal wells. Typically, offset drilling units have been developed with 1.5 mile laterals at 1,300 feet well spacing in each bench. The completion programs for the proposed wells are designed with 50 fracture stages at a total measured depth of 15,000 feet including the horizontal portion. In this area, Mexco has various interests in 6 horizontal wells and 276 vertical wells in adjacent Reagan and Upton Counties, Texas. Mexco's net revenue interests in these wells range from 0.013% to 1.558% where there is potential for further horizontal development.

Mexco Energy Corporation Announces Unaudited Consolidated Operating and Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Announces Additional Development of Properties

Mexco Energy Corporation announced unaudited consolidated financial results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported total operating revenues of $962,026 compared to $790,604 a year ago. Operating income was $106,078 compared to operating loss of $78,469 a year ago. Earnings before provision for income taxes was $98,133 compared to loss before provision for income taxes of $91,545 a year ago. Net profit was $88,659 or $0.04 per basic and diluted share compared to net loss of $39,580 or $0.02 per basic and diluted share a year ago. For the nine months, the company reported total operating revenues of $3,079,997 compared to $2,161,326 a year ago. Operating income was $388,916 compared to operating loss of $217,545 a year ago. Profit before provision for income taxes was $256,058 compared to loss before provision for income taxes of $252,117 a year ago. Net profit was $298,841 or $0.15 per basic and diluted share compared to net loss of $102,034 or $0.05 per basic and diluted share a year ago. For the nine months, the company’s oil production increased 29% and gas production decreased 5% as compared to the same period of fiscal 2013. For the quarter, the company’s oil production increased 17% and gas production decreased 15% as compared to the third quarter of fiscal 2013. The company participated in the drilling of a development well in the Wolfcamp formation of the Clyde-Reynolds Field of Glasscock County, Texas. This well, operated by Nadel and Gussman Permian LLC, is the second well on a 440 acre unit. Mexco's working interests in this well is 0.7% (0.525% net revenue interest). The company participated in the drilling of a seventh horizontal well in the Penn Detrital formation of the F. A. Hogg Field of Winkler County, Texas. Six wells are currently producing on this approximately 2,600 acres. Mexco's working interest in this seventh well, operated by OGX Operating, LLC is 0.4167% (0.3125% net revenue interest).

 

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Valuation MXC Industry Range
Price/Earnings 67.6x
Price/Sales 3.8x
Price/Book 1.1x
Price/Cash Flow 10.7x
TEV/Sales 3.2x
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