0001398344-14-004733.txt : 20140905 0001398344-14-004733.hdr.sgml : 20140905 20140905172323 ACCESSION NUMBER: 0001398344-14-004733 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140905 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140905 DATE AS OF CHANGE: 20140905 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: 141086737 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 fp0011592_8k.htm fp0011592_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:  September 5, 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

Acquisition and development of properties

On September 5, 2014, Mexco Energy Corporation issued a news release to announce additional 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 September 5, 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:  September 5, 2014
     
       
 
By:
/s/ Tammy McComic
 
   
Tammy McComic
 
   
President and Chief Financial Officer
 

EX-99.1 2 fp0011592_ex991.htm fp0011592_ex991.htm
 
EXHIBIT 99.1

September 5, 2014

FOR IMMEDIATE RELEASE

MEXCO ENERGY CORPORATION ANNOUNCES ADDITIONAL DEVELOPMENT OF PROPERTIES

MIDLAND, TEXAS, September 5, 2014 – Mexco Energy Corporation (NYSE MKT:MXC) (“Mexco” or “the Company”) today announced production results of three new wells in the “B” bench of the Wolfcamp formation in Reagan County, Texas.  These wells produced at an average rate respectively of 877, 713 and 883 barrels of oil equivalent (“Boe”) per day, during the first eleven days of production through September 1, 2014 by centrifugal downhole pumps which were not operated at full capacity.  The results are not necessarily indicative of future rates of production or reserves.  These three wells are the first three of seven wells to be drilled to a vertical depth of 8,000 feet and a horizontal length of approximately 7,150 feet with a 50 stage zipper fracture treatment.  Mexco’s interest in these wells is 1.45% working interest (1.25% net revenue interest).  Mexco has expended approximately $400,000 on these wells to date.
 
EOG Resources, Inc. commenced production of the seventh well in a 500 acre unit located in Reagan County, Texas involving an approximately 8,000 foot vertical and 9,000 foot horizontal depth at a rate averaging approximately 403 Boe per day over a period of 25 days from inception of production.  Previously Mexco participated in the drilling of six horizontal wells in the Wolfcamp formation of the Lin field of Reagan County, Texas.  All seven of these wells are completed and currently producing. The unit, operated by EOG, contains approximately 500 acres.  Mexco’s working interest in these wells is .8086% (.6064% net revenue interest).  Mexco’s share of the costs to drill, complete and fracture these wells was approximately $350,000.

Mexco also announced the purchase of various royalty interests for $200,000 covering 43 wells in 12 counties of eight states.  Of these oil and gas reserves, approximately 54% are in Texas and 10% in Lousiana where there is acreage available for further development by horizontal drilling and fracturing.  These royalty interests are free of expenses to Mexco for drilling and operations.

In the next fifteen months Mexco currently is scheduled to participate as a non-operator owner of various working interests in the drilling and completion of 41 horizontal and three vertical wells involving an aggregate expenditure of approximately $1.8 million.  Of these 41 horizontal wells, four are located in Reagan and two in Winkler Counties, Texas, 31 in Lea and three in Eddy Counties, New Mexico, and one in Garvin County, Oklahoma.  Approximately 65% of such $1.8 million expenditure will be in Lea County, New Mexico and 30% in Reagan County, Texas.

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.