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LONG-TERM DEBT
3 Months Ended
Dec. 31, 2016
Long-term Debt, Unclassified [Abstract]  
LONG-TERM DEBT
LONG-TERM DEBT
 
Canadian revolving demand facility

In June 2016, Barnwell entered into an agreement with Royal Bank of Canada for a revolving demand facility in the amount of $500,000 Canadian dollars, or U.S. $372,000 at the December 31, 2016 exchange rate. Borrowings under this facility were $0 at December 31, 2016 and September 30, 2016, and issued letters of credit were $33,000 at December 31, 2016.

The revolving demand facility is available in U.S. dollars at LIBOR plus 1.0%, at Royal Bank of Canada’s U.S. base rate, or in Canadian dollars at Royal Bank of Canada’s prime rate. The obligations under the credit facility are secured by a $500,000 Canadian dollar guaranteed investment certificate pledged to the Royal Bank of Canada, which is classified as "Restricted cash" on the accompanying Condensed Consolidated Balance Sheets at U.S. $372,000 and U.S. $381,000 at the December 31, 2016 and September 30, 2016 exchange rates, respectively.