Mexco Energy Corp (NYSE: MXC)

Mexco Energy Corporation, a Colorado-based company with the stock symbol MXC on the OTC Markets, operates in the oil and gas industry. The company's history dates back to 1972, when it was founded as Miller Oil Company, before changing its name to Mexco Energy Corporation in 1980. Mexco Energy is a small-cap company, with a market capitalization of around $29 million as of March 31, 2024.

Mexco Energy's main business activities involve the acquisition, exploration, development, and production of crude oil and natural gas properties in the United States. The company operates in two primary areas: the Delaware Basin, located in the Western portion of the Permian Basin, and the Midland Basin, situated in the Eastern part of the Permian Basin. These regions include Lea and Eddy Counties in New Mexico, and Reeves, Loving, Reagan, Upton, Midland, Martin, Howard, Glasscock, and other counties in Texas.

The company generates revenue primarily from the sale of oil and natural gas production from its properties. Additionally, Mexco Energy acquires royalties, overriding royalties, and working interests in producing oil and gas properties. The primary products that Mexco Energy offers are crude oil, natural gas, and natural gas liquids. These products are sold to various customers, including major oil and gas companies, refineries, and pipelines.

In the competitive landscape of the oil and gas industry, Mexco Energy faces competition from other independent oil and gas companies, as well as major oil and gas companies operating in the Permian Basin. Despite the competition, Mexco Energy has established a competitive advantage by optimizing cash flows through operating efficiencies and cost reductions, divesting non-core assets, and balancing capital spending with cash flows to minimize borrowings and maintain ample liquidity.

Mexco Energy's customers are primarily major oil and gas companies, refineries, and pipelines. Historically, the company has not experienced significant credit losses on its oil and gas accounts, and management believes that significant credit risk does not exist.

In terms of the company's brand names and trade names, Mexco Energy Corporation operates under its corporate name, and it does not appear to have any distinct product or service brands. However, the company's website, www.mexcoenergy.com, provides information on its annual reports, quarterly reports, and other filings with the Securities and Exchange Commission (SEC).