0001398344-14-001843.txt : 20140325 0001398344-14-001843.hdr.sgml : 20140325 20140325161146 ACCESSION NUMBER: 0001398344-14-001843 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140325 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140325 DATE AS OF CHANGE: 20140325 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: 14716112 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 fp0010006_8k.htm fp0010006_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 25, 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

Acquisitions and development of properties

On March 25, 2014, Mexco Energy Corporation issued a news release to announce acquisitions and development of properties.

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 25, 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 25, 2014
     
 
By:
/s/ Tammy McComic
 
   
Tammy McComic
 
   
President and Chief Financial Officer
 
EX-99.1 2 fp0010006_ex99a.htm fp0010006_ex99a.htm
 
EXHIBIT 99.1

March 25, 2014

FOR IMMEDIATE RELEASE

MEXCO ENERGY CORPORATION ANNOUNCES ACQUISITIONS AND ADDITIONAL DEVELOPMENT OF PROPERTIES

MIDLAND, TEXAS, March 25, 2014 – Mexco Energy Corporation (NYSE MKT:MXC) (“Mexco” or “the Company”) today announced the acquisition of additional working interests in a joint venture.  The Company’s working interest in this development of seven horizontal wells in the Wolfcamp formation of Reagan County, Texas was increased from 0.57% (0.49% net revenue interest) to 1.4% (1.2% net revenue interest) increasing the estimated drilling costs from $350,000 to approximately $850,000.  These wells are to be drilled during 2014 using horizontal pad drilling and fifty stage zipper frac stimulation.

The Company also announced plans to participate in the drilling of a horizontal development well in the Wolfcamp formation of the Lin Field of Reagan County, Texas.  This well, operated by EOG Resources, Inc. is the fourth well on a 524 acre unit.  Mexco’s working interests in drilling and completing this well at a cost of approximately $51,000 is .8% (.61% net revenue interest).

Mexco acquired long-lived non-operated producing properties consisting of approximately 50 oil wells operated by Cross Timbers Energy, LLC, a joint venture of Exxon Mobil Corporation and MorningStar Partners, LP,  in Hockley County, Texas and 15 oil wells operated by Four C Oil & Gas Corporation in Pecos County, Texas.  The purchase price of $200,000 was funded from the Company’s $4.9 million bank credit facility.  This purchase, effective March 1, 2014, includes working interests of, respectively, .42% and .67% (net revenue interests of .31% and .59%).

Mexco purchased for $57,000, an interest in 320 gross acres (15 net mineral acres) subject to a 3/16ths royalty lease in the Bakken Shale formation of Billings County, North Dakota.  Mexco funded this purchase primarily from working capital and its bank credit facility.  This acreage currently contains one (1) newly drilled horizontal well operated by Continental Resources, Inc., the results of which have not yet been announced.  All of this acreage is free of expenses to Mexco for drilling, development and operations.

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.