SEGMENT INFORMATION (Tables)

6 Months Ended

Mar. 31, 2023

Schedule of financial information related to reporting segments

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 March 31,				Six months ended March 31,
	2023		2022		2023		2022
Revenues:
Oil and natural gas	$	3,686,000	$	5,133,000	$	8,912,000	$	9,053,000
Contract drilling	1,501,000		818,000		3,449,000		1,694,000
Land investment	—		695,000		265,000		1,295,000
Other	29,000		32,000		72,000		89,000
Total before interest income	5,216,000		6,678,000		12,698,000		12,131,000
Interest income	23,000		1,000		52,000		2,000
Total revenues	$	5,239,000	$	6,679,000	$	12,750,000	$	12,133,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	718,000	$	577,000	$	1,514,000	$	1,013,000
Contract drilling	43,000		41,000		86,000		88,000
Other	—		—		1,000		—
Total depletion, depreciation, and amortization	$	761,000	$	618,000	$	1,601,000	$	1,101,000





Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	701,000	$	2,430,000	$	2,687,000	$	3,998,000
Contract drilling	57,000		(141,000)		105,000		(292,000)
Land investment	—		695,000		265,000		1,295,000
Other	29,000		32,000		71,000		89,000
Gain on sale of assets	—		—		551,000		—
Total operating profit	787,000		3,016,000		3,679,000		5,090,000
Equity in income of affiliates:
Land investment	—		1,760,000		538,000		2,967,000
General and administrative expenses	(2,050,000)		(2,241,000)		(4,299,000)		(4,071,000)
Foreign currency gain	2,000		—		80,000		—

Interest income	23,000		1,000		52,000		2,000


(Loss) earnings before income taxes	$	(1,238,000)	$	2,536,000	$	50,000	$	3,988,000