Subsequent Events	12 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events On April 30, 2024, the Company announced that its Board of Directors declared a regular annual dividend of $0.10 per common share to its shareholders of record at the close of business on May 21, 2024. The regular annual dividend was paid on June 4, 2024. In April 2024, the Company’s Board of Directors authorized the use of up to $1,000,000 to repurchase shares of the Company’s common stock, par value, $0.50, for the treasury account. Also in April 2024, the Company repurchased 13,766 shares for the treasury account at an aggregate cost of $188,637, an average price of $13.70 per share. In April 2024, the Company acquired small royalty (mineral) interests in 21 wells operated by Anadarko Petroleum and Cimarex Energy and located in Reeves County, Texas for a purchase price of $158,000. In April 2024, stock options covering 12,367 shares were exercised. The Company received proceeds of $77,641 from these exercises. In April 2024, Mexco expended approximately $207,800 to participate in the drilling of nine horizontal wells located in the Delaware Basin in Lea County, New Mexico. In May 2024, the Company funded another $200,000 toward its $2,000,000 equity investment in a limited liability company. In May 2024, the Company expended approximately $90,000 to complete 2 horizontal wells in the Bone Spring Sand formation of the Delaware Basin in Lea County, New Mexico. The Company completed a review and analysis of all events that occurred after the consolidated balance sheet date to determine if any such events must be reported and has determined that there are no other subsequent events to be disclosed.

Subsequent Events

12 Months Ended

Mar. 31, 2024

14. Subsequent Events

On April 30, 2024, the Company announced that its Board of Directors declared a regular annual dividend of $0.10 per common share to its shareholders of record at the close of business on May 21, 2024. The regular annual dividend was paid on June 4, 2024.

In April 2024, the Company’s Board of Directors authorized the use of up to $1,000,000 to repurchase shares of the Company’s common stock, par value, $0.50, for the treasury account. Also in April 2024, the Company repurchased 13,766 shares for the treasury account at an aggregate cost of $188,637, an average price of $13.70 per share.

In April 2024, the Company acquired small royalty (mineral) interests in 21 wells operated by Anadarko Petroleum and Cimarex Energy and located in Reeves County, Texas for a purchase price of $158,000.

In April 2024, stock options covering 12,367 shares were exercised. The Company received proceeds of $77,641 from these exercises.

In April 2024, Mexco expended approximately $207,800 to participate in the drilling of nine horizontal wells located in the Delaware Basin in Lea County, New Mexico.

In May 2024, the Company funded another $200,000 toward its $2,000,000 equity investment in a limited liability company.

In May 2024, the Company expended approximately $90,000 to complete 2 horizontal wells in the Bone Spring Sand formation of the Delaware Basin in Lea County, New Mexico.

The Company completed a review and analysis of all events that occurred after the consolidated balance sheet date to determine if any such events must be reported and has determined that there are no other subsequent events to be disclosed.