XML 48 R33.htm IDEA: XBRL DOCUMENT
v3.5.0.1

Oil and Gas Reserve Data (Unaudited) (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2016
Extractive Industries [Abstract] |
Schedule of Changes in Proved Reserves |
|  | Oil (Bbls) |  |  | Natural Gas (Mcf) |
Proved Developed and Undeveloped Reserves: |  |  |  |  |  |  |  |
As of April 1, 2013 |  |  | 366,000 |  |  |  | 7,844,000 |
Revision of previous estimates |  |  | 12,000 |  |  |  | (1,404,000 | )
Purchase of minerals in place |  |  | 50,000 |  |  |  | 18,000 |
Extensions and discoveries |  |  | 101,000 |  |  |  | 163,000 |
Sales of minerals in place |  |  | - |  |  |  | - |
Production |  |  | (27,000 | ) |  |  | (362,000 | )
As of March 31, 2014 |  |  | 502,000 |  |  |  | 6,259,000 |
Revision of previous estimates |  |  | (90,000 | ) |  |  | (665,000 | )
Purchase of minerals in place |  |  | 43,000 |  |  |  | 795,000 |
Extensions and discoveries |  |  | 235,000 |  |  |  | 269,000 |
Sales of minerals in place |  |  | - |  |  |  | - |
Production |  |  | (30,000 | ) |  |  | (369,000 | )
As of March 31, 2015 |  |  | 660,000 |  |  |  | 6,289,000 |
Revision of previous estimates |  |  | (13,000 | ) |  |  | (736,000 | )
Purchase of minerals in place |  |  | - |  |  |  | - |
Extensions and discoveries |  |  | 479,000 |  |  |  | 665,000 |
Sales of minerals in place |  |  | (3,000 | ) |  |  | (9,000 | )
Production |  |  | (39,000 | ) |  |  | (408,000 | )
As of March 31, 2016 |  |  | 1,084,000 |  |  |  | 5,801,000 |
Summary of Proved Developed and Undeveloped Reserves | Summary of Proved Developed and Undeveloped Reserves as of March 31, 2016, 2015 and 2014:
|  | Oil (Bbls) |  |  | Natural Gas (Mcf) |
Proved Developed Reserves: |  |  |  |  |  |  |  |
As of April 1, 2013 |  |  | 237,420 |  |  |  | 4,807,020 |
As of March 31, 2014 |  |  | 294,620 |  |  |  | 4,081,470 |
As of March 31, 2015 |  |  | 283,670 |  |  |  | 4,584,790 |
As of March 31, 2016 |  |  | 350,180 |  |  |  | 4,406,060 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |
As of April 1, 2013 |  |  | 128,290 |  |  |  | 3,037,180 |
As of March 31, 2014 |  |  | 206,930 |  |  |  | 2,177,810 |
As of March 31, 2015 |  |  | 376,070 |  |  |  | 1,703,790 |
As of March 31, 2016 |  |  | 734,170 |  |  |  | 1,395,220 |
Schedule of Progress of Converting Proved Undeveloped Reserves | Progress of Converting Proved Undeveloped Reserves:
|  | Oil & Natural Gas |  |  | Future |
|  | (Mcfe) |  |  | Development Costs |
PUDs, beginning of year |  |  | 3,960,232 |  |  | $ | 6,617,402 |
Revision of previous estimates |  |  | (1,441,324 | ) |  |  | (2,778,279 | )
Conversions to PD reserves |  |  | (256,618 | ) |  |  | (732,620 | )
Additional PUDs added |  |  | 3,537,952 |  |  |  | 6,510,657 |
PUDs, end of year |  |  | 5,800,242 |  |  | $ | 9,617,160 |
Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves | Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves:
|  | March 31 |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Future cash inflows |  | $ | 57,318,000 |  |  | $ | 72,238,000 |  |  | $ | 70,252,000 |
Future production costs and taxes |  |  | (14,571,000 | ) |  |  | (19,569,000 | ) |  |  | (20,647,000 | )
Future development costs |  |  | (9,617,000 | ) |  |  | (6,617,000 | ) |  |  | (4,826,000 | )
Future income taxes |  |  | (4,569,000 | ) |  |  | (9,254,000 | ) |  |  | (9,801,000 | )
Future net cash flows |  |  | 28,561,000 |  |  |  | 36,798,000 |  |  |  | 34,978,000 |
Annual 10% discount for estimated timing of cash flows |  |  | (14,663,000 | ) |  |  | (17,860,000 | ) |  |  | (15,649,000 | )
Standardized measure of discounted future net cash flows |  | $ | 13,898,000 |  |  | $ | 18,938,000 |  |  | $ | 19,329,000 |
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves | Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves:
|  | March 31 |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Sales of oil and gas produced, net of production costs |  | $ | (1,240,000 | ) |  | $ | (2,036,000 | ) |  | $ | (2,762,000 | )
Net changes in price and production costs |  |  | (12,510,000 | ) |  |  | (4,066,000 | ) |  |  | 2,464,000 |
Changes in previously estimated development costs |  |  | 3,701,000 |  |  |  | 2,627,000 |  |  |  | 270,000 |
Revisions of quantity estimates |  |  | (602,000 | ) |  |  | (3,718,000 | ) |  |  | (657,000 | )
Net change due to purchases and sales of minerals in place |  |  | (105,000 | ) |  |  | 2,777,000 |  |  |  | 1,332,000 |
Extensions and discoveries, less related costs |  |  | 5,174,000 |  |  |  | 4,607,000 |  |  |  | 3,802,000 |
Net change in income taxes |  |  | 2,539,000 |  |  |  | 654,000 |  |  |  | (1,997,000 | )
Accretion of discount |  |  | 2,370,000 |  |  |  | 2,474,000 |  |  |  | 1,779,000 |
Changes in timing of estimated cash flows and other |  |  | (4,367,000 | ) |  |  | (3,710,000 | ) |  |  | 729,000 |
Changes in standardized measure |  |  | (5,040,000 | ) |  |  | (391,000 | ) |  |  | 4,960,000 |
Standardized measure, beginning of year |  |  | 18,938,000 |  |  |  | 19,329,000 |  |  |  | 14,369,000 |
Standardized measure, end of year |  | $ | 13,898,000 |  |  | $ | 18,938,000 |  |  | $ | 19,329,000 |

X
- Definition Schedule of Changes in Proved Reserves [Table Text Block] + References No definition available. + Details
Name: | MXC_ScheduleOfChangesInProvedReservesTableTextBlock
Namespace Prefix: | MXC_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Progress of Converting Proved Undeveloped Reserves [Table Text Block] + References No definition available. + Details
Name: | MXC_ScheduleOfProgressOfConvertingProvedUndevelopedReservesTableTextBlock
Namespace Prefix: | MXC_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of Proved Developed and Undeveloped Reserves [Table Text Block]. + References No definition available. + Details
Name: | MXC_SummaryOfProvedDevelopedAndUndevelopedReservesTableTextBlock
Namespace Prefix: | MXC_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ExtractiveIndustriesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62500-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62536-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62496-109447 + Details
Name: | us-gaap_ScheduleOfChangesInStandardizedMeasureOfDiscountedFutureNetCashFlowsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62424-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62476-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62500-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62455-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e62479-109447 + Details
Name: | us-gaap_StandardizedMeasureOfDiscountedFutureCashFlowsRelatingToProvedReservesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration