0001398344-14-001655.txt : 20140314 0001398344-14-001655.hdr.sgml : 20140314 20140314142004 ACCESSION NUMBER: 0001398344-14-001655 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140314 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140314 DATE AS OF CHANGE: 20140314 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: 14693957 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 fp0009939_8k.htm fp0009939_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:  March 14, 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

Additional Property Development & Acquisition
 
On March 14, 2014, Mexco Energy Corporation issued a news release to announce drilling of properties and acquisition.

Copy of the news release is filed as Exhibit 99.1.

Item 9.01
Financial Statements and Exhibits
 
(d)
Exhibits
  
     
 
Exhibit No.
Document
 
99.1
News Release dated March 14, 2014.

 
 
 

SIGNATURES

Pursuant to the requirements of the Securities 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
  
Date:  March 14, 2014
      
 
By:  
 /s/ Tammy McComic  
   
Tammy McComic
  
   
President and Chief Financial Officer
  
EX-99.1 2 fp0009939_ex991.htm fp0009939_ex991.htm

EXHIBIT 99.1

March 14, 2014

FOR IMMEDIATE RELEASE

MEXCO ENERGY CORPORATION ANNOUNCES DRILLING OF PROPERTIES AND ACQUISITION

MIDLAND, TEXAS, March 14, 2014 – Mexco Energy Corporation (NYSE MKT:MXC) today announced the drilling of certain properties in the Permian Basin of West Texas and the acquisition of producing properties in four states.

Mexco Energy Corporation (“Mexco”) is participating as a working interest owner in a joint venture drilling four (4) vertical development wells to a depth of 11,000 feet on 160 acre spacing in the Dean, Wolfcamp, Cline and Atoka formations on 640 acres in Reagan County, Texas.  Initial per day production rates from two of these wells respectively are 128 barrels of oil and 110,000 cubic feet of natural gas and 94 barrels of oil and 179,000 cubic feet of natural gas.  Mexco’s working interest in this joint venture is .3% (.24% net revenue interest).

These wells will hold the deep rights for further development by horizontal drilling.  The Wolfcamp formation in this area is an approximately 1,700 feet thick section consisting of interbedded organic shales and carbonates and includes two reservoir units, the “A” and “B” benches that have both been successfully developed with horizontal wells.  These four vertical wells in Reagan County, Texas are in addition to two horizontal wells in which Mexco is participating in Reagan County, Texas as previously announced on February 27, 2014.

Also, Mexco has acquired for $450,000, a package of non-operated producing properties consisting of 10 oil wells and 1 gas well located in Webster Parish, Louisiana; Eddy County, New Mexico; Billings County, North Dakota; and, Nolan and Smith Counties, Texas.  The purchase price was funded from the Company’s $4.9 million bank credit facility.  This purchase, effective March 1, 2014, includes working interests ranging from 27.5% to .13% (net revenue interests of 24.06% - .11%) adding estimated net proved reserves of approximately 35,000 barrels of oil equivalent at a cost of $12.86 per barrel.

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, 2013.  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.