SEGMENT INFORMATION

9 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Barnwell operates the following segments: 1) acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma (oil and natural gas); 2) investing in land interests in Hawaii (land investment); and 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling).

The following table presents certain financial information related to Barnwell’s reporting segments. All revenues reported are from external customers with no intersegment sales or transfers.

	Three months ended June 30,				Nine months ended June 30,
	2021		2020		2021		2020
Revenues:
Oil and natural gas	$	2,887,000	$	830,000	$	7,326,000	$	4,881,000
Contract drilling	889,000		3,040,000		4,220,000		8,279,000
Land investment	1,253,000		—		1,738,000		—
Other	79,000		113,000		209,000		239,000
Total before interest income	5,108,000		3,983,000		13,493,000		13,399,000
Interest income	6,000		1,000		6,000		17,000
Total revenues	$	5,114,000	$	3,984,000	$	13,499,000	$	13,416,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	155,000	$	372,000	$	496,000	$	1,562,000
Contract drilling	76,000		96,000		229,000		272,000
Other	4,000		10,000		13,000		36,000
Total depletion, depreciation, and amortization	$	235,000	$	478,000	$	738,000	$	1,870,000
Impairment:
Oil and natural gas	$	—	$	2,689,000	$	630,000	$	4,326,000
Total impairment	$	—	$	2,689,000	$	630,000	$	4,326,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	1,015,000	$	(3,212,000)	$	1,289,000	$	(4,486,000)
Contract drilling	(213,000)		977,000		392,000		2,455,000
Land investment	1,253,000		—		1,738,000		—
Other	75,000		103,000		196,000		203,000
Gain on sale of asset	—		—		—		1,336,000
Total operating profit (loss)	2,130,000		(2,132,000)		3,615,000		(492,000)
Equity in income (loss) of affiliates:
Land investment	3,348,000		(111,000)		5,026,000		(179,000)
General and administrative expenses	(2,227,000)		(1,248,000)		(5,340,000)		(4,775,000)
Interest expense	(2,000)		(1,000)		(6,000)		(1,000)
Interest income	6,000		1,000		6,000		17,000
Gain on debt extinguishment	149,000		—		149,000		—
Gain on termination of post-retirement medical plan	2,341,000		—		2,341,000		—
Earnings (loss) before income taxes	$	5,745,000	$	(3,491,000)	$	5,791,000	$	(5,430,000)