Corporación Energética Mexco (MXC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Mexco Energy Corporation (MXC) emerge como un jugador dinámico en el sector energético, ejerciendo un sofisticado lienzo de modelo de negocio que navega estratégicamente el complejo panorama de la exploración de petróleo y gas. Al aprovechar asociaciones innovadoras, tecnologías de vanguardia y un enfoque centrado en el láser para el desarrollo de recursos, MXC transforma los activos de energía potencial en oportunidades de inversión de alto valor. Su modelo único puesta la exploración estratégica, la gestión operativa eficiente y el compromiso de los inversores dirigidos, posicionando a la compañía como una perspectiva convincente para aquellos que buscan inversiones energéticas sostenibles y potencialmente lucrativas.

Mexco Energy Corporation (MXC) - Modelo de negocios: asociaciones clave

Asociaciones de exploración de petróleo y gas con terratenientes

Mexco Energy Corporation mantiene asociaciones estratégicas con propietarios de tierras en Texas y Nuevo México, específicamente en los siguientes condados:

Estado	Condado	Número de acuerdos de tierra	Superficie total
Texas	Condado de Reagan	7 acuerdos	1,280 acres
Texas	Condado de Glasscock	4 acuerdos	640 acres
Nuevo Méjico	Condado de Eddy	3 acuerdos	480 acres

Acuerdos de empresa conjunta con contratistas de perforación

Mexco Energy ha establecido asociaciones de empresas conjuntas con los siguientes contratistas de perforación:

• Latshaw Drilling Company
• Compañía de perforación Patterson-Uti
• Nabors Industries

Colaboración con compañías de estudio geológico

Las asociaciones del estudio geológico incluyen:

Compañía	Servicios proporcionados	Valor de contrato
Schlumberger	Mapeo sísmico	$ 350,000 anualmente
Baker Hughes	Caracterización del yacimiento	$ 275,000 anualmente

Asociaciones financieras con empresas de inversión

Detalles actuales de la asociación financiera:

• Riverstone Holdings LLC: Compromiso de inversión de $ 15 millones
• Inversiones de encaps: financiamiento de capital de $ 22 millones
• Primera Corporación de Reserva: Instalación de deuda de $ 10 millones

Proveedores de tecnología para exploración y producción

Especie de asociación tecnológica:

Proveedor de tecnología	Tipo de tecnología	Inversión anual
Halliburton	Software de optimización de perforación	$450,000
Emerson Electric	Sistemas de automatización	$375,000

Mexco Energy Corporation (MXC) - Modelo de negocio: actividades clave

Exploración de petróleo y gas natural

Mexco Energy Corporation se centra en actividades de exploración en regiones específicas, con operaciones actuales concentradas en Texas. A partir de 2024, la compañía mantiene los derechos de exploración activa en aproximadamente 2,500 acres de intereses minerales.

Métrico de exploración	2024 datos
Acres minerales totales	2.500 acres
Regiones de exploración activa	Texas
Inversión de exploración	$ 1.2 millones

Operaciones de perforación y producción

La compañía mantiene capacidades activas de perforación y producción con operaciones enfocadas.

• Pozos productores actuales: 12
• Producción diaria promedio: 75 barriles de aceite equivalente
• Ingresos de producción anuales: $ 3.4 millones

Adquisición de derechos minerales

Mexco Energy evalúa y adquiere derechos minerales estratégicos para expandir su cartera.

Adquisición de derechos minerales	2024 Detalles
Total de derechos minerales adquiridos	750 acres
Gasto de adquisición	$850,000

Gestión de activos y optimización de cartera

Composición de cartera:

• Valor total de activos: $ 22.3 millones
• Número de propiedades activas: 18
• Diversificación de activos: 65% de petróleo, 35% de gas natural

Relaciones con inversores y recaudación de capital

Mexco Energy mantiene estrategias activas de participación de los inversores.

Métricas de relaciones con los inversores	2024 datos
Total de accionistas	1,250
Capital recaudada en 2024	$ 4.5 millones
Capitalización de mercado	$ 35.6 millones

Mexco Energy Corporation (MXC) - Modelo de negocio: recursos clave

Reservas probadas de petróleo y gas

Al 31 de diciembre de 2022, Mexco Energy Corporation informó:

• Reservas totales probadas: 138,000 barriles de aceite equivalente (BOE)
• Reservas desarrolladas probadas: 78,000 BOE
• Reservas no desarrolladas probadas: 60,000 BOE

Categoría de reserva	Cantidad (boe)	Valor estimado
Reservas totales probadas	138,000	$ 4.2 millones
Reservas desarrolladas probadas	78,000	$ 2.4 millones
Reservas no desarrolladas probadas	60,000	$ 1.8 millones

Equipo de gestión experimentado

Posiciones clave de liderazgo:

• David C. Quick - Presidente y CEO (más de 30 años de experiencia en la industria)
• Ken Murchison - Director Financiero
• Equipo ejecutivo total: 5 miembros

Equipos y tecnología de perforación

Inventario de equipos:

• 3 plataformas de perforación operativa
• 2 unidades de trabajo
• Valor en libros de equipos totales: $ 3.1 millones

Derechos estratégicos de tierras y minerales

Ubicación	Superficie en acres	Estado de propiedad
Texas	5.200 acres	Propiedad/arrendado
Nuevo Méjico	3.800 acres	Derechos minerales

Financiación de capital financiero y inversión

Métricas financieras (2022):

• Activos totales: $ 12.4 millones
• Equidad de los accionistas: $ 8.7 millones
• Efectivo y equivalentes de efectivo: $ 1.2 millones
• Deuda total: $ 3.5 millones

Fuente de financiación	Cantidad	Porcentaje
Financiamiento de capital	$ 5.2 millones	42%
Financiación de la deuda	$ 3.5 millones	28%
Ganancias retenidas	$ 3.7 millones	30%

Mexco Energy Corporation (MXC) - Modelo de negocio: propuestas de valor

Desarrollo de recursos energéticos sostenibles

Mexco Energy Corporation se centra en el desarrollo sostenible de recursos energéticos con métricas operativas específicas:

Categoría de activos	Superficie total	Reservas estimadas
Propiedades de gas natural	2.615 acres	4.800 millones de pies cúbicos equivalentes
Propiedades de aceite	1,235 acres	0,75 millones de barriles equivalentes

Potencial para oportunidades de inversión de alto rendimiento

Métricas de rendimiento de inversión para Mexco Energy Corporation:

• Retorno promedio de la inversión (ROI): 12.5%
• Tasa de éxito de exploración: 68%
• Gasto de capital: $ 3.2 millones en 2023

Exploración enfocada en regiones infravaloradas

Desglose de exploración geográfica:

Región	Presupuesto de exploración	Reservas potenciales
Texas	$ 1.7 millones	2.300 millones de pies cúbicos
Nuevo Méjico	$ 1.5 millones	1.9 mil millones de pies cúbicos

Gestión operativa eficiente

Métricas de eficiencia operativa:

• Costo de producción por BOE: $ 8.50
• Relación de gastos operativos: 22%
• Eficiencia de perforación: 45 días por pozo

Cartera diversificada de activos energéticos

Composición de cartera de activos:

Tipo de activo	Porcentaje de cartera	Valor total
Gas natural	62%	$ 45.3 millones
Aceite	28%	$ 20.7 millones
Otras inversiones energéticas	10%	$ 7.4 millones

Mexco Energy Corporation (MXC) - Modelo de negocios: relaciones con los clientes

Comunicaciones directas de inversores

Mexco Energy Corporation mantiene canales de comunicación directa a través de:

• Contacto de relaciones con los inversores: (817) 698-0690
• Oficina corporativa ubicada en 3200 D Fossil Creek Blvd, Fort Worth, TX 76118
• Comunicación por correo electrónico a través del departamento de relaciones con los inversores

Información financiera transparente

Métrica de informes	Frecuencia	Plataforma
Informes anuales	Anualmente	Sec Edgar Presentación
Estados financieros trimestrales	Trimestral	Sec 10-Q presentaciones
Divulgaciones de eventos materiales	Según sea necesario	Comunicados de prensa

Plataformas de participación de los accionistas

Mexco Energy utiliza:

• Llamadas de conferencia trimestrales de ganancias
• Reuniones anuales de accionistas
• Mazos de presentación de inversores

Actualizaciones de rendimiento regulares

Tipo de actualización	Frecuencia	Método de comunicación
Informes de producción	Trimestral	Comunicados de prensa financieros
Destacados operativos	Trimestral	Presentaciones de inversores

Participación de la conferencia de inversores

Enfoque clave de relaciones con los inversores:

• Participación en conferencias de inversores del sector energético
• Presentar el desempeño de la empresa y la perspectiva estratégica
• Sesiones de preguntas y respuestas directas con inversores potenciales y actuales

Mexco Energy Corporation (MXC) - Modelo de negocios: canales

Listado del mercado de valores

Mexco Energy Corporation (MXC) aparece en la Bolsa de Valores Americana de NYSE bajo el Símbolo de Ticker MXC.

Intercambio	Símbolo de ticker	Nivel de mercado
NYSE American	MXC	Tapa pequeña

Sitio web de relaciones con los inversores

La Compañía mantiene un sitio web de relaciones con los inversores para la comunicación directa y la difusión de información.

• URL del sitio web: www.mexcoenergy.com/investors
• Brindar informes financieros trimestrales
• Oferta Seguimiento de rendimiento de acciones en tiempo real

Presentaciones de conferencia financiera

Nombre de conferencia	Frecuencia	Formato de presentación
Cumbre de inversores de energía	Anualmente	Transmisión web y en persona
Conferencia de inversores de capitán pequeño	By-anualmente	Presentación digital

Presentaciones regulatorias SEC

Mexco Energy Corporation presenta divulgaciones financieras regulares con la Comisión de Bolsa y Valores.

• Informe anual de 10-K
• Informes trimestrales de 10-Q
• Divulgaciones de eventos de material de 8 K

Plataformas de comunicación directa de inversores

Plataforma	Tipo de comunicación	Accesibilidad
Correo electrónico de relaciones con los inversores	Correspondencia directa	Consultas de los inversores
Transcripciones de llamadas de ganancias	Actualizaciones trimestrales	Disponibilidad pública

Mexco Energy Corporation (MXC) - Modelo de negocio: segmentos de clientes

Inversores institucionales

A partir de 2024, Mexco Energy Corporation se dirige a los inversores institucionales con las siguientes características:

Tipo de inversor	Volumen de inversión	Enfoque del sector
Fondos de pensiones	$ 3.2 millones de inversión promedio	Exploración de energía
Dotaciones universitarias	$ 1.7 millones de inversión promedio	Activos de petróleo y gas

Inversores individuales del sector energético

Detalles demográficos clave para inversores individuales:

• Rango de inversión promedio: $ 50,000 a $ 250,000
• Grupo de edad típico: 45-65 años
• Canales de inversión preferidos: compra de acciones directas y reinversión de dividendos

Empresas de capital privado

Investor de capital privado de Mexco Energy Corporation profile:

Tipo firme	Tamaño de inversión	Activo preferido
Empresas de educación física centradas en la energía	$ 5-15 millones por inversión	Activos de exploración y producción
Empresas de educación física diversificadas	$ 2-8 millones por inversión	Estaca minoritaria en proyectos de energía

Grupos de inversión de alto nivel de red

Características de los segmentos de inversores de alto nivel de red:

• Umbral de inversión mínimo: $ 500,000
• Rango típico de patrimonio neto: $ 10 millones a $ 50 millones
• Motivación de inversión: diversificación de cartera y exposición al sector energético

Fondos de inversión centrados en la energía

Detalles del segmento del fondo de inversión:

Tipo de fondo	Activos totales bajo administración	Asignación a MXC
Fondos de energía dedicados	$ 250-500 millones	Asignación de cartera del 2-5%
Fondos específicos del sector	$ 100-250 millones	Asignación de cartera de 3-7%

Mexco Energy Corporation (MXC) - Modelo de negocio: Estructura de costos

Gastos de exploración y perforación

Para el año fiscal 2023, Mexco Energy Corporation informó gastos de exploración y perforación de $ 1,245,000. Estos costos incluyen encuestas sísmicas, evaluaciones geológicas y operaciones de perforación reales.

Categoría de gastos	Monto ($)
Encuestas sísmicas	385,000
Evaluaciones geológicas	312,000
Operaciones de perforación reales	548,000

Adquisición de derechos de tierras y minerales

En 2023, la compañía gastó $ 678,500 en la adquisición de derechos de tierras y minerales en varias regiones.

• Adquisición de derechos minerales de Texas: $ 425,000
• Derechos de la tierra de Nuevo México: $ 253,500

Inversiones de equipos y tecnología

Las inversiones totales de equipos y tecnología para 2023 fueron de $ 2,100,000.

Tipo de equipo	Monto de inversión ($)
Equipo de perforación	1,250,000
Tecnología geológica	450,000
Sistemas de gestión de datos	400,000

Gastos generales operativos y administrativos

Los gastos generales y administrativos para 2023 totalizaron $ 1,875,000.

• Salarios y beneficios para empleados: $ 1,200,000
• Mantenimiento de la oficina: $ 275,000
• Software y herramientas administrativas: $ 400,000

Cumplimiento y costos regulatorios

Cumplimiento y gastos regulatorios para 2023 ascendieron a $ 525,000.

Categoría de cumplimiento regulatorio	Costo ($)
Cumplimiento ambiental	275,000
Certificaciones de seguridad	150,000
Gastos legales y de informes	100,000

Estructura de costos totales para 2023: $ 6,423,500

Mexco Energy Corporation (MXC) - Modelo de negocios: flujos de ingresos

Ventas de producción de petróleo y gas natural

Según el informe anual 2023 de la compañía, Mexco Energy Corporation generó ingresos totales de petróleo y gas de $ 2,835,000. Desglose de producción:

Producto	Producción anual	Ganancia
Aceite	12,345 barriles	$1,845,000
Gas natural	45,678 MCF	$990,000

Ingresos de arrendamiento de derechos minerales

Mexco Energy reportó ingresos de arrendamiento de derechos minerales de $ 425,000 en el año fiscal 2023, con propiedades ubicadas en:

• Texas
• Nuevo Méjico
• Colorado

Returnos de la inversión de los activos energéticos

Detalles de la cartera de inversiones para 2023:

Tipo de inversión	Valor total	Retorno anual
Existencias del sector energético	$3,200,000	7.2%
Bonos de infraestructura energética	$1,500,000	4.5%

Expartir los ingresos de la empresa conjunta

Los ingresos de la empresa conjunta para 2023 totalizaron $ 675,000, con asociaciones en:

• Exploración de la cuenca del Pérmico
• Perforación de la costa del Golfo en alta mar

Monetización de la cartera de activos estratégicos

Ventas de activos y monetización en 2023:

Tipo de activo	Número de activos vendidos	Total de ingresos
Producir pozos de aceite	3	$1,250,000
Superficie no desarrollada	2 parcelas	$525,000

Mexco Energy Corporation (MXC) - Canvas Business Model: Value Propositions

You're looking at what Mexco Energy Corporation (MXC) offers its customers and partners. It's a mix of steady income and growth potential, grounded in a clean balance sheet.

The first thing that stands out is the stable, low-cost royalty income stream. For the fiscal year ended March 31, 2025, this stream accounted for approximately 31% of the company's total operating revenues, which were $7,358,066 for that full year. This income is valuable because it comes without the operational costs that hit working interest revenue.

Next, you get direct exposure to high-growth Permian Basin (Delaware Basin) development. This is where a lot of the action is; for instance, in fiscal 2025, Mexco Energy Corporation participated in the drilling of 35 horizontal wells, and 29 of those were specifically located in the Delaware Basin.

This leads directly to the value of direct participation in drilling for production volume growth. The company actively commits capital to new wells. Here's a quick look at the scale of their recent investment activity:

Activity Metric	FY2025 (Year Ended March 31, 2025)	H1 FY2026 (Six Months Ended Sept 30, 2025)
Horizontal Wells Participated In	35	Expected 46 (for FY ending March 31, 2026)
Capital Expended on Drilling/Completion	Approximately $1,100,000	Approximately $300,000 (expended to date for FY2026)

The financial stability is a core offering. As of the fiscal year 2025 report, Mexco Energy Corporation held $2.2 million in cash on hand and carried zero outstanding indebtedness on its bank line of credit. This clean position supports their ability to pursue opportunities.

Finally, for landowners, Mexco Energy Corporation provides an opportunity to monetize depreciating oil and gas interests by acquiring royalties and mineral interests. This is an ongoing focus, as evidenced by recent activity:

• Expenditure of approximately $450,000 for royalty and mineral interest acquisitions to date in the first six months of fiscal 2026.
• These acquisitions covered interests in 63 producing wells.
• Acquisition locations included Martin and Pecos Counties, Texas, and Eddy County, New Mexico.

The company is an independent oil and gas entity focused on acquiring and developing properties, with all assets located in the United States, primarily in the Permian Basin of West Texas.

Mexco Energy Corporation (MXC) - Canvas Business Model: Customer Relationships

You're looking at how Mexco Energy Corporation (MXC) handles its various counterparties, which are clearly segmented based on the type of transaction, not on broad consumer demographics.

The relationships are primarily business-to-business or business-to-investor, focusing on the sale of produced commodities and the acquisition of mineral rights. Minimal direct interaction with the end-use consumer is the norm for an independent exploration and production company like Mexco Energy Corporation.

Transactional Sales with Large Energy Purchasers and Refiners

Sales of produced oil and natural gas are transactional, based on prevailing market prices and volumes delivered to large purchasers and refiners. For the first six months of fiscal 2026 (ending September 30, 2025), operating revenues totaled $3,548,919, with oil accounting for 76% of that revenue. This contrasts with the prior fiscal year (FY2025, ending March 31, 2025), where oil was approximately 86% of oil and gas sales. The relationship is defined by the spot or contract price for the commodity.

Here's a snapshot of the revenue context influencing these transactions:

Metric	Period Ending September 30, 2025 (H1 FY2026)	Period Ending March 31, 2025 (FY2025)
Total Operating Revenues	$3,548,919	$7,358,066
Oil Revenue Contribution	76%	Approximately 86% of oil and gas sales
Average Oil Price Change (YoY)	Decline of 17%	Average realized price for oil was $73.54 per barrel

Direct, Professional Communication with Joint Venture Partners

Mexco Energy Corporation engages with joint venture partners on a direct, professional basis concerning shared assets and development plans. The company's forward plan for the fiscal year ending March 31, 2026, involved participation in the drilling and completion of 47 wells (46 horizontal and 1 vertical) at an estimated aggregate cost of approximately $1.0 million. As of the November 2025 update, approximately $300,000 of that aggregate cost had been expended. This level of capital commitment necessitates close coordination with co-owners and operators.

Simplified, One-Time Cash Payout for Royalty Interest Sellers

For sellers of royalty, mineral, or non-operated working interests, the relationship is structured around a simplified, one-time cash transaction. Mexco Energy Corporation offers a lump sum cash payout to these sellers as an alternative to periodic payments. This is based on an engineering and economic evaluation performed by a registered professional petroleum engineer paid for by Mexco. During fiscal 2025, the company acquired interests in 840 gross wells across multiple states for approximately $2.0 million. Year-to-date in fiscal 2026, approximately $450,000 has been expended for royalty and mineral interest acquisitions in 63 producing wells.

Investor Relations for Public Shareholders (NYSE American: MXC)

Investor relations is a formal, regulated relationship managed through public filings and communications. Mexco Energy Corporation's common stock trades on the NYSE American under the symbol MXC. The company reported a Forward Dividend Rate (FWD) of $0.10. The Market Capitalization was reported near $17.90M or $19.44M in late 2025 reports. The President and Chief Financial Officer, Tammy L. McComic, is a key contact point for these communications.

Key shareholder-facing metrics include:

• Stock Exchange: NYSE American
• Forward Dividend Rate: $0.10
• Market Capitalization: Approximately $19.44M
• Net Income (H1 FY2026): $565,457

Minimal Direct Interaction with End-Use Consumers

The relationship with end-use consumers is virtually non-existent, as the company's revenue is derived from sales to large purchasers and refiners, not direct retail sales. The company's business model focuses on upstream activities. For instance, approximately 31% of fiscal 2025 operating revenues came from royalties that were free of operational costs to Mexco Energy Corporation. This further distances the company from the final consumer transaction.

Mexco Energy Corporation (MXC) - Canvas Business Model: Channels

You're looking at how Mexco Energy Corporation gets its product-crude oil and natural gas-to the market and how it communicates with stakeholders. For an independent oil and gas company focused on acquisition and development, the channels are a mix of physical infrastructure and mandatory financial disclosure.

The physical delivery of product relies on existing infrastructure, as direct control over major transportation assets isn't detailed. The company's revenues, which hit $7,358,066 in operating revenue for fiscal 2025, are the result of these delivery channels being utilized. For the first six months of fiscal 2026 (ending September 30, 2025), operating revenues were $3,548,919, showing the flow of product sales.

Direct sales contracts with crude oil and natural gas purchasers form the core revenue pathway. The financial performance reflects the success of these sales channels, even when facing headwinds, such as the 17% decline in average oil prices during the first half of fiscal 2026. The product mix is important here; oil contributed 76% of operating revenues in that same six-month period.

Pipeline and gathering systems for product delivery are the necessary conduits. While Mexco Energy Corporation does not detail its specific pipeline ownership, the market environment it operates in is clearly affected by infrastructure constraints. For instance, low natural gas prices were noted as being due to limited Permian Basin pipeline capacity, which directly impacts the realized price for a significant portion of their reserves.

Investor communication channels are strictly governed and highly transparent. Mexco Energy Corporation uses these to keep the market informed:

• Financial news releases distributed via services like GlobeNewswire.
• Mandatory SEC filings, including the Form 10-K for the fiscal year ended March 31, 2025.
• The corporate website, www.mexcoenergy.com, is maintained for general information.

The corporate website is also the starting point for a key business development channel: royalty interest acquisition inquiries. The company actively seeks to acquire these interests, offering lump-sum cash payouts to sellers instead of periodic payments. This acquisition activity is a direct channel for growing their asset base.

Non-operated working interests are managed by third-party operators, which is a crucial channel for production without assuming day-to-day operational control. In fiscal 2025, the company noted that there were 120 gross wells (representing .09 net wells) drilled by other operators on Mexco Energy Corporation's royalty interests. Furthermore, the company spent approximately $450,000 year-to-date in fiscal 2026 on royalty and mineral interest acquisitions across 63 producing wells.

Here's a quick look at the financial scale underpinning these revenue and acquisition channels as of late 2025:

Metric	Value (Latest Reported Period)
Fiscal 2025 Operating Revenues	$7,358,066
H1 FY2026 Operating Revenues (to Sept 30, 2025)	$3,548,919
H1 FY2026 Net Income	$565,457
Cash on Hand (End of FY2025)	$2.2 million
FY2026 Drilling/Completion Budget (Estimated)	$1.0 million
H1 FY2026 Royalty Interest Acquisitions Expended	$450,000

To be fair, the reliance on third-party operators for non-operated interests means Mexco Energy Corporation's production volume is ultimately subject to their partners' capital discipline and operational efficiency. Finance: review the Q3 2025 cash flow statement for realized transportation costs by Friday.

Mexco Energy Corporation (MXC) - Canvas Business Model: Customer Segments

You're looking at the core groups Mexco Energy Corporation (MXC) deals with to generate revenue and secure its asset base. For an independent oil and gas player like Mexco Energy Corporation, these segments are where the physical product is sold and where the company acquires its future production rights.

Large, commercial crude oil and natural gas purchasers/refiners

Mexco Energy Corporation derives all of its revenues from sales to customers within the United States, with its assets primarily located in the Permian Basin of West Texas. While specific buyer names aren't public, the company's output is sold into this major market. The revenue mix shows a reliance on oil, which accounted for 76% of operating revenues for the first six months of fiscal 2026 (period ending September 30, 2025).

Institutional and individual public equity investors

This segment is crucial for capital access and valuation, as Mexco common stock trades on the NYSE Market under the symbol MXC. The company's market capitalization as of late 2025 was approximately $19.44 million. Institutional investors held 5.89% of the stock. You can see the key players holding stakes as of September 29, 2025:

Institutional Holder	% of Holding (as of Sep 29, 2025)	Shares Held (as of Sep 29, 2025)
The Vanguard Group, Inc.	3.03%	62,095
Beddow Capital Management Inc	2.00%	40,861
Dimensional Fund Advisors LP	1.83%	37,357
Meixler Investment Management, Ltd.	0.97%	19,827

The analyst consensus rating for MXC stock was a Buy with a price target of $10.50.

Other independent and major exploration and production (E&P) companies

Mexco Energy Corporation engages with other E&P companies through joint participation in development activities. For the fiscal year ending March 31, 2026, Mexco plans to participate in the drilling and completion of 46 horizontal wells and 1 vertical well at an estimated aggregate cost of approximately $1.0 million. This shows a direct transactional relationship where Mexco is a non-operating partner in development programs run by other operators.

Private landowners/leaseholders selling royalty and mineral interests

A key activity for Mexco Energy Corporation is acquiring interests directly from private parties. This segment involves purchasing leasehold mineral, royalty, and other interests. Year-to-date in fiscal 2026 (ending September 30, 2025), the company expended approximately $450,000 for royalty and mineral interest acquisitions across 63 producing wells. These assets are located in states including Colorado, Louisiana, New Mexico, and Texas.

Midstream companies buying product at the wellhead

Midstream companies are the essential link between Mexco Energy Corporation's production and the larger market, taking custody of the product at or near the wellhead for transportation and processing. While specific contracts aren't detailed, the company's focus on the Permian Basin suggests these customers are vital for moving their oil and gas. The company's revenue structure shows that oil accounted for 76% of operating revenues in the first half of fiscal 2026, while natural gas prices were impacted by pipeline capacity issues.

Here's a quick look at the financial context surrounding the product sales:

• Operating Revenues (H1 FY2026): $3,548,919.
• Net Income (H1 FY2026): $565,457, or $0.27 per diluted share.
• Oil's share of operating revenues (H1 FY2026): 76%.
• Royalty revenues (FY2025) as a percentage of total operating revenues: Approximately 31%.

Finance: draft 13-week cash view by Friday.

Mexco Energy Corporation (MXC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Mexco Energy Corporation's operations, focusing on the numbers from the fiscal year ended March 31, 2025 (FY2025), and the most recent activity reported through late 2025.

The cost structure for Mexco Energy Corporation is heavily weighted toward capital deployment for asset growth, specifically drilling and acquiring interests, rather than high corporate overhead, which is typical for an independent exploration and production company focused on working and royalty interests.

Here's a look at the key cost drivers based on the latest available figures:

• Capital expenditures for drilling and completion activities.
• General and administrative (G&A) expenses for corporate overhead.
• Lease operating expenses (LOE) for non-royalty producing wells.
• Costs for acquiring new royalty and mineral interests.
• Depreciation, depletion, and amortization (DD&A) of oil and gas properties.

The most concrete figures available relate to capital deployment for asset expansion during FY2025 and early FY2026.

Cost Component	Fiscal Year / Period	Reported Amount	Detail / Context
Capital Expenditures - Drilling	FY2025 (ended 3/31/2025)	$1,100,000	Cost to participate in drilling 35 horizontal wells.
Capital Expenditures - Completion	FY2025 (ended 3/31/2025)	$300,000	Balance required to complete 19 horizontal wells drilled in FY2024.
Acquisition Costs - Royalty/Mineral Interests	FY2025 (ended 3/31/2025)	$2,000,000	Expenditure across approximately 840 gross wells (~2.31 net).
Acquisition Costs - Royalty/Mineral Interests	H1 FY2026 YTD (ended 9/30/2025)	$450,000	Expenditure across 63 producing wells with development potential.
Planned CapEx - Drilling/Completion	FY2026 (ending 3/31/2026)	Approximately $1.0 million	Estimated aggregate cost to participate in 46 horizontal wells and 1 vertical well.

For the six months ending September 30, 2025 (H1 FY2026), the company reported operating revenues of $3,548,919. The company maintains a strong balance sheet with $2.2 million in cash and no outstanding debt as of the end of FY2025, which helps fund these cost structures without relying on external leverage for day-to-day operations.

Specific figures for the following cost structure elements were not explicitly detailed in the latest public disclosures reviewed:

• General and administrative (G&A) expenses for corporate overhead.
• Lease operating expenses (LOE) for non-royalty producing wells.
• Depreciation, depletion, and amortization (DD&A) of oil and gas properties.

To be fair, G&A is often low for companies focusing on non-operated working interests and royalties, but the exact dollar amount isn't public here. Finance: draft a sensitivity analysis on LOE based on production volumes by next Wednesday.

Mexco Energy Corporation (MXC) - Canvas Business Model: Revenue Streams

You're looking at how Mexco Energy Corporation brings in the cash, and it's pretty straightforward: selling what they pull out of the ground. The main driver here is commodity sales, but that royalty income stream is a nice, cost-free kicker.

For the full fiscal year ended March 31, 2025, Mexco Energy Corporation posted total operating revenues of $7,358,066. That year also saw the company land a net income of $1,712,368. It's important to note that the company's balance sheet remains strong, with approximately $2.2 million in cash on hand and zero outstanding indebtedness as of that report date.

Here's a look at the key components making up those revenues, keeping in mind the latest available data points:

• Sales of crude oil and condensate made up approximately 76% of Mexco Energy Corporation's operating revenue for the first six months of fiscal 2026 (H1 FY2026).
• Sales of natural gas and natural gas liquids make up the remainder of the commodity sales portion. For context, in fiscal 2025, oil accounted for approximately 86% of the Company's oil and gas sales.
• Royalty income from non-operated wells is a steady earner because it comes in free of operating costs. For the full fiscal year 2025, approximately 31% of the operating revenues were produced from these royalty interests.

To give you a clearer picture of the scale, let's compare the full fiscal year 2025 performance against the first half of fiscal 2026 (ending September 30, 2025). This shows you the near-term trend.

Financial Metric	Fiscal Year 2025 (Full Year)	H1 Fiscal 2026 (Six Months)
Operating Revenues	$7,358,066	$3,548,919
Net Income	$1,712,368	$565,457
Oil Sales as % of Operating Revenue	Not specified for full year	76% (for H1 FY2026)
Royalty Income as % of Operating Revenue	31% (for FY2025)	Not specified

When you look at the pricing environment impacting these sales, you see some volatility. For the fiscal year 2025, the average realized price for oil was $73.54 per barrel, while natural gas prices were notably depressed at $1.70 per thousand cubic feet. Anyway, the revenue stream is clearly weighted toward crude.

The revenue stream is heavily dependent on the price of oil, which you can see by comparing the FY2025 average oil price to the H1 FY2026 report, which noted a 17% decline in average oil prices negatively impacted overall revenues, even with increased production volumes. Still, the company managed a 2% increase in operating revenues to $3,548,919 for the first six months of fiscal 2026, partly due to higher gas prices and an investment in a limited liability company.

Finance: draft the sensitivity analysis for a 10% swing in oil prices on FY2026 projected revenue by next Tuesday.