OIL AND NATURAL GAS PROPERTIES (Tables)

12 Months Ended

Sep. 30, 2015

Extractive Industries [Abstract]

Summary of allocation of purchase price to the assets acquired and liabilities assumed

The Progress acquisition was accounted for under the acquisition method of accounting, and as such, Barnwell estimated the fair value of the acquired property as of the August 27, 2015 acquisition date. The following table summarizes the allocation of the consideration paid to acquire the properties to the assets acquired and liabilities assumed in the transaction as of the acquisition date. See Note 15 for further information regarding the fair value measurement inputs.

Property and equipment	$	397,000
Asset retirement obligation	(91,000		)
Net identifiable assets acquired	$	306,000

The Progress acquisition was accounted for under the acquisition method of accounting, and as such, Barnwell estimated the fair value of the acquired property as of the November 13, 2014 acquisition date. The following table summarizes the allocation of the consideration paid to acquire the properties to the assets acquired and liabilities assumed in the transaction as of the acquisition date. See Note 15 for further information regarding the fair value measurement inputs.

Property and equipment	$	751,000
Asset retirement obligation	(225,000		)
Net identifiable assets acquired	$	526,000

Pro forma information including adjustments to oil and natural gas segment revenues and operating expenses

The pro forma information includes adjustments to oil and natural gas segment revenues and operating expenses based on the actual results of operations related to Dunvegan, as well as adjustments for estimated depletion, accretion expense, general and administrative expenses, and income taxes based on an allocation of the estimated impact of Dunvegan on those amounts.

	Year ended September 30, 2015
Pro forma (unaudited)	Historical		Pro forma
Total revenues	$	17,533,000	$	13,235,000
Net earnings (loss)	$	1,769,000	$	(761,000	)
Net earnings (loss) attributable to Barnwell Industries, Inc. stockholders	$	1,263,000	$	(1,267,000	)
Net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders.	$	0.15	$	(0.15	)