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Mexco Participates in Bone Spring, Avalon Wells; Talks 2Q
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Mexco Energy Corporation reported net loss of $324,366 for the quarter ending June 30, 2015, the Company's first quarter of fiscal 2016. This compares to net income of $19,054 for the quarter ending June 30, 2014.
Operational UpdateMexco participated in the drilling and completion of a horizontal well operated by XTO Energy, Inc., a subsidiary of Exxon Mobil Corporation in the Third Bone Spring formation in Lea County, New Mexico which flowed in a twenty-four hour test at the rate of 541 barrels of oil and 466,000 cubic feet of gas. Mexco owns a 2.78% working interest (1.95% net revenue interest).
Mexco also is participating in a currently drilling horizontal well located in Lea County, New Mexico in the Third Bone Springs formation. This well also is operated by XTO and Mexco's…
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