XML 32 R64.htm IDEA: XBRL DOCUMENT
v3.20.1

Subsequent Events (Details Narrative) |  | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | ---
May 04, 2020 USD ($) | Jun. 20, 2020 | Apr. 30, 2020 USD ($) $ / shares | Jun. 30, 2021 USD ($) Wells | Mar. 31, 2020 USD ($) $ / shares | Mar. 31, 2020 USD ($) $ / shares | Mar. 31, 2019 USD ($) | Jun. 19, 2020 $ / shares | May 31, 2020 $ / shares | May 05, 2020 USD ($) | Apr. 10, 2020 USD ($)
Proceeds from line of credit |  |  |  |  |  | $ 1,285,000 |  |  |  |  |
Payments for line of credit |  |  |  |  |  | 490,000 |  |  |  |  |
Line of credit |  |  |  |  | $ 795,000 | 795,000 |  |  |  |  |
Payments to purchase oil and gas properties |  |  |  |  |  | $ 1,692,190 | $ 812,140 |  |  |  |
Lease expiration date |  |  |  |  |  | May 31, 2021 |  |  |  |  |
West Texas Intermediate [Member] |  |  |  |  |  |  |  |  |  |  |
Crude oil price per barrel | $ / shares |  |  |  |  | $ 16.75 | $ 16.75 |  |  |  |  |
Number of barrel contracts, description |  |  |  |  | The Henry Hub Spot Market Price ("Henry Hub") posted price for natural gas on March 31, 2020 was $1.71 per MMBtu and averaged $1.74 and $1.75 per MMBtu for the months of April and May 2020, respectively. The Henry Hub posted price for natural gas was $1.67 on June 19, 2020. |  |  |  |  |  |
Subsequent Event [Member] |  |  |  |  |  |  |  |  |  |  |
Funds deposited |  |  |  |  |  |  |  |  |  |  | $ 25,000
Number of barrel contracts, description |  |  | To purchase twelve 1,000 barrel contracts to hedge our oil production for the months of April through August at a floor price of $25.00 per barrel. |  |  |  |  |  |  |  |
Payments to purchase oil and gas properties |  |  | $ 28,100 |  |  |  |  |  |  |  |
Floor price per barrel | $ / shares |  |  | $ 25.00 |  |  |  |  |  |  |  |
Proceeds from net settlement of contracts | $ 8,200 |  |  |  |  |  |  |  |  |  |
Lease extension, description |  | In exchange for a reduction in rent for the months of June and July 2020, the Company agreed to a 2-month extension to its current lease agreement at the regular monthly rate extending its current lease expiration date to July 2021. |  |  |  |  |  |  |  |  |
Lease expiration date |  | Jul. 31, 2021 |  |  |  |  |  |  |  |  |
Subsequent Event [Member] | West Texas Intermediate [Member] |  |  |  |  |  |  |  |  |  |  |
Crude oil price per barrel | $ / shares |  |  | $ 14.68 |  |  |  |  | $ 35.75 | $ 24.67 |  |
Subsequent Event [Member] | Paycheck Protection Program [Member] |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  |  |  |  |  |  | $ 68,574 |
Forecast [Member] |  |  |  |  |  |  |  |  |  |  |
Proceeds from line of credit |  |  |  | $ 235,000 |  |  |  |  |  |  |
Payments for line of credit |  |  |  | 100,000 |  |  |  |  |  |  |
Line of credit |  |  |  | 930,000 |  |  |  |  |  |  |
Forecast [Member] | Lea County, New Mexico [Member] |  |  |  |  |  |  |  |  |  |  |
Expended for drilling wells |  |  |  | $ 200,000 |  |  |  |  |  |  |
Number of drilled wells | Wells |  |  |  | 4 |  |  |  |  |  |  |

X
- Definition Crude oil price per barrel. + References No definition available. + Details
Name: | MXC_CrudeOilPricePerBarrel
Namespace Prefix: | MXC_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Expended for participation of drilling wells. + References No definition available. + Details
Name: | MXC_DrillingExpensesForWells
Namespace Prefix: | MXC_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Floor price per barrel. + References No definition available. + Details
Name: | MXC_FloorPricePerBarrel
Namespace Prefix: | MXC_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of barrel contracts, description. + References No definition available. + Details
Name: | MXC_NumberOfBarrelContractsDescription
Namespace Prefix: | MXC_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Proceeeds from net settlement of contracts. + References No definition available. + Details
Name: | MXC_ProceeedsFromNetSettlementOfContracts
Namespace Prefix: | MXC_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Number of development oil and gas wells capable of producing either oil or gas in sufficient quantity to justify completion as oil or gas well. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1205 -Paragraph (a) -Subparagraph (2) + Details
Name: | srt_DevelopmentWellsDrilledNetProductive
Namespace Prefix: | srt_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
Name: | us-gaap_Deposits
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Date which lease or group of leases is set to expire, in CCYY-MM-DD format. + References No definition available. + Details
Name: | us-gaap_LeaseExpirationDate1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Description of terms and conditions of option to extend lessee's operating lease. Includes, but is not limited to, information about option recognized as part of right-of-use asset and lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918673-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseOptionToExtend
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Including the current and noncurrent portions, aggregate carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)(a)(2)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_LoansPayable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash outflow to purchase of mineral interests in oil and gas properties for use in the normal oil and gas operations and not intended for resale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3213-108585 + Details
Name: | us-gaap_PaymentsToAcquireOilAndGasProperty
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3255-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ProceedsFromLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3291-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_RepaymentsOfLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_OilAndGasDeliveryCommitmentsAndContractsAxis=MXC_WestTexasIntermediateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=MXC_PaycheckProtectionProgramMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=srt_ScenarioForecastMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=MXC_LeaCountyNewMexicoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |