MEXCO ENERGY Business Summary

Mexco Energy Corporation (MXC) is an independent oil and gas company that generates revenue through the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids across 14 U.S. states. Its business model is bifurcated into two primary segments: working interests, where the company shares in the costs and revenues of drilling operations as a non-operator, and royalty interests, which provide high-margin, cost-free revenue streams from mineral acreage. As of early 2026, the company’s operations are heavily concentrated in the Permian Basin, specifically within the Delaware and Midland sub-basins, which account for approximately 86% of its gross revenues. Mexco distinguishes itself by acting as a capital partner rather than a direct field manager, allowing for a diversified portfolio of over 6,300 gross producing wells. In the micro-cap exploration and production (E&P) market, Mexco competes with firms such as Ring Energy, Inc., Evolution Petroleum Corporation, and PrimeEnergy Resources Corporation, positioning itself as a low-overhead, debt-averse player focused on long-lived asset accumulation. The company is led by Nicholas C. Taylor, who has served as Chairman and Chief Executive Officer since 1983, providing over four decades of continuity and maintaining a significant 46% ownership stake that aligns management with shareholders. Supporting the executive suite is Tamala L. McComic, who serves as President and Chief Financial Officer, overseeing the firm’s disciplined capital allocation and debt-free balance sheet. The board of directors features notable industry and political figures, including Thomas R. Craddick, a long-standing member and former Speaker of the Texas House of Representatives, and Michael J. Banschbach, a seasoned natural gas specialist. This leadership team is characterized by extreme longevity, with an average management tenure exceeding 24 years, and a strategic preference for organic growth and strategic acquisitions over the aggressive leverage common among its peers.