Mexco Energy Corp
mexcoenergy.comMexco Energy Corp (NYSE American: MXC) is an oil and gas exploration and production company that acquires, develops, and holds working interests and royalty interests in oil and gas properties across the United States. Revenue comes from the sale of crude oil, natural gas, condensate, and natural gas liquids (NGLs) produced from those interests on a transactional, commodity-price-driven basis. The company operates as a non-operator in most of its wells, holding small fractional working interests alongside larger operators. The Permian Basin accounts for 80% of discounted future net cash flows from proved reserves and 80% of gross revenues as of the 10-K filed June 27, 2025, covering fiscal year ended March 31, 2025. Mexco is headquartered in Midland, Texas. Nicholas C. Taylor serves as Chief Executive Officer and Chairman, and Tamala L. McComic serves as President and Chief Financial Officer.
Products & Services
Crude oil, natural gas, condensate, and NGLs produced from working interests and royalty interests in oil and gas leases. The company also acquires overriding royalty interests and non-operated working interests in producing and undeveloped properties. Recent well participation includes horizontal wells in the Bone Spring Sand and Penn Shale formations of the Delaware Basin in Lea County, New Mexico, with Mexco working interests ranging from approximately 0.165% to 1.16% per well (fiscal year ended March 31, 2025).
Revenue Model
Mexco earns revenue by selling crude oil, natural gas, condensate, and NGLs extracted from its working interest and royalty interest properties. Revenue is transactional and directly tied to commodity prices and production volumes. The company uses the full cost method of accounting for oil and gas properties, meaning all acquisition and development costs are capitalized into a single cost pool and depleted on a units-of-production basis.
Customers & Markets
Accounts receivable includes trade receivables from joint interest owners and oil and gas purchasers. End markets are crude oil and natural gas commodity markets. No specific customer concentration data is disclosed in the filing excerpts provided.
Geographic Exposure
Properties span fourteen states as of the 10-K filed June 27, 2025. The majority of activity is concentrated in West Texas and Southeastern New Mexico. The Permian Basin, split between the Delaware Basin (Lea and Eddy Counties, New Mexico; Reeves and Loving Counties, Texas) and the Midland Basin (Reagan, Upton, Midland, Martin, Howard, and Glasscock Counties, Texas), accounts for 80% of discounted future net cash flows from proved reserves and 80% of gross revenues (fiscal year ended March 31, 2025). Additional producing properties exist in the Eagle Ford area of Texas, the Haynesville trend of Louisiana and Texas, the Marcellus and Utica areas of Ohio, and Weld County, Colorado, among others.
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