0001398344-14-006051.txt : 20141126 0001398344-14-006051.hdr.sgml : 20141126 20141126160744 ACCESSION NUMBER: 0001398344-14-006051 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20141126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20141126 DATE AS OF CHANGE: 20141126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEXCO ENERGY CORP CENTRAL INDEX KEY: 0000066418 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840627918 STATE OF INCORPORATION: CO FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31785 FILM NUMBER: 141253742 BUSINESS ADDRESS: STREET 1: 214 W TEXAS AVENUE STREET 2: SUITE 1101 CITY: MIDLAND STATE: TX ZIP: 79701 BUSINESS PHONE: 9156821119 MAIL ADDRESS: STREET 1: 214 W TEXAS AVENUE STREET 2: SUITE 1101 CITY: MIDLAND STATE: TX ZIP: 79701 FORMER COMPANY: FORMER CONFORMED NAME: MILLER OIL CO DATE OF NAME CHANGE: 19800702 8-K 1 fp0012318_8k.htm fp0012318_8k.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
FORM 8-K
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934.

Date of Report:  November 26, 2014
(Date of earliest event reported)
 
Mexco Energy Corporation
(Exact name of registrant as specified in its charter)
 
CO
(State or other jurisdiction
of incorporation)
 
0-6694
(Commission File Number)
 
84-0627918
(IRS Employer
Identification Number)
 
214 W. Texas Avenue,
Suite 1101
Midland, TX
(Address of principal executive offices)
79701
(Zip Code)
 
Registrant's telephone number, including area code: 432-682-1119
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
[  ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[  ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[  ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.13e-4(c))
 
[  ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 8.01
Other Events

On November 26, 2014 Mexco Energy Corporation issued a news release to announce the purchase of various royalty interests in 580 wells in 87 counties of eight states consisting of virtually all natural gas production of which approximately 90% is from the Barnett Shale of the Fort Worth Basin of Texas.

Copy of the news release is filed as Exhibit 99.1.

Item 9.01.
Financial Statements and Exhibits.

 
(d)
Exhibits

Exhibit
 
Number
Document
   
99.1
News release dated November 26, 2014.

 
 

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
MEXCO ENERGY CORPORATION
       
Dated:  November 26, 2014
By:
/s/ Tammy McComic
 
   
Tammy McComic
 
   
President and Chief Financial Officer
 

EX-99.1 2 fp0012318_ex991.htm fp0012318_ex991.htm
 
EXHIBIT 99.1

November 26, 2014

FOR IMMEDIATE RELEASE

MEXCO ENERGY CORPORATION ANNOUNCES PURCHASE OF OIL AND GAS PROPERTIES

MIDLAND, TEXAS, November 26, 2014 – Mexco Energy Corporation (NYSE MKT:MXC) today announced the purchase of various royalty interests ranging from .0018% to 1.1% revenue interests at a price of $580,000 covering  approximately 580 wells in 87 counties of eight states.  Of this oil and gas production, virtually all is natural gas.  Mexco believes that there is potential for further development of several of these royalties. These royalty interests are free of expenses to Mexco for drilling and operations.

Approximately 90% of the net revenue from these royalties is produced by 157 wells located in the Barnett Shale of the Fort Worth Basin of Texas.  Also included are interests in 423 wells in Alabama, Arkansas, Kansas, Louisiana, Mississippi, North Dakota, Oklahoma and Texas.

Also, Mexco announced an increase in its participation in a horizontal well to be drilled to a depth of 11,100 feet in the third Bone Springs formation of Lea County, New Mexico from 1.5% to 2.8% working interest.  Mexco’s estimated cost increased from approximately $106,000 to $196,000.  This well will be operated by XTO Energy, Inc., a wholly owned subsidiary of Exxon Mobil Corporation.

As previously planned, Mexco has advanced $116,226 which is the estimated cost of drilling and testing two horizontal wells respectively in the A and B benches of the Wolfcamp formation in Reagan County, Texas.

These and other expenditures have been funded through cash flow and bank borrowings on Mexco’s line of credit which totals $4,925,000 to date.

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.  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 inherit 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, 2014.  Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.

For additional information, please contact:  Nicholas C. Taylor, Chairman and Chief Executive Officer or Tammy L. McComic, President and Chief Financial Officer, both of Mexco Energy Corporation, (432) 682-1119.