Mexco Energy Corporation First-Half Profit Rises 67% as Its Average Oil Price Climbs

Mexco Energy Corporation’s net income rose 67% to $945,152 in the six months ended Sept. 30, 2026, as a higher average oil price lifted oil revenue despite lower oil sales volume. The company earned $0.45 per diluted share, compared with $565,457, or $0.27 per diluted share, in the same period a year earlier. Mexco announced the results Nov. 12.

Operating revenue reached $4,102,157, up from $3,386,580 in the year-earlier period. Oil and natural gas sales totaled $4,094,555, compared with $3,379,300. Those sales made up nearly all of operating revenue in both periods.

Oil sales revenue increased to $3,567,216 from $2,698,042. Mexco’s average oil price rose to $91.49 per barrel from $64.05, an increase of 42.8%. The company sold 38,989 barrels, down 7.4% from 42,124 barrels a year earlier. The rise in the average price coincided with higher oil revenue despite the smaller sales volume.

Natural gas results moved in the opposite direction. Revenue fell to $527,339 from $681,258, a 22.6% decline. The average price dropped 22.5% to $1.55 per Mcf from $2.00, while volume was nearly unchanged at 340,058 Mcf compared with 340,963 Mcf.

President Tammy McComic said Mexco invested approximately $3.2 million in oil and gas royalty interests during the first six months of fiscal 2027. She described the spending as part of the company’s ongoing royalty acquisition strategy.

For the fiscal year ending March 31, 2027, Mexco expects to participate in drilling 55 horizontal wells and completing 20. The estimated combined cost is approximately $1.8 million, and the company has spent about $900,000 to date.

Based in Midland, Texas, Mexco focuses on acquiring, exploring and developing oil and gas properties, primarily in the Permian Basin.