SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

Barnwell operates the following segments: 1) acquiring, developing, producing and selling oil and natural gas in Canada and the U.S. (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.

	Year ended September 30,
	2023		2022
Revenues:
Oil and natural gas	$	19,376,000	$	22,581,000
Contract drilling	5,427,000		4,540,000
Land investment	265,000		1,295,000
Other	114,000		111,000
Total before interest income	25,182,000		28,527,000
Interest income	87,000		18,000
Total revenues	$	25,269,000	$	28,545,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	4,269,000	$	2,606,000
Contract drilling	186,000		171,000
Other	2,000		1,000
Total depletion, depreciation, and amortization	$	4,457,000	$	2,778,000
Impairment:
Land investment	$	—	$	89,000
Total impairment	$	—	$	89,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	4,673,000	$	10,536,000
Contract drilling	(428,000)		(222,000)
Land investment	265,000		1,206,000
Other	112,000		110,000
Gain on sale of assets	551,000		—
Total operating profit	5,173,000		11,630,000
Equity in income of affiliates:
Land investment	758,000		3,400,000
General and administrative expenses	(6,956,000)		(8,044,000)
Foreign currency gain (loss)	76,000		(484,000)
Interest expense	(2,000)		(1,000)
Interest income	87,000		18,000
(Loss) earnings before income taxes	$	(864,000)	$	6,519,000

Capital Expenditures:

	Year ended September 30,
	2023		2022
Oil and natural gas	$	12,212,000	$	13,755,000
Contract drilling	314,000		45,000
Other	14,000		5,000
Total	$	12,540,000	$	13,805,000

    Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 7 for additional details).  

Assets By Segment:

	September 30,
	2023		2022
Oil and natural gas:
Canada	$	18,855,000	$	16,216,000
United States	5,917,000		1,261,000
Contract drilling (1)	3,100,000		3,260,000
Other:
Cash and cash equivalents	2,830,000		12,804,000
Asset for retirement benefits	4,471,000		3,385,000
Corporate and other	248,000		289,000
Total	$	35,421,000	$	37,215,000

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(1)          Located in Hawaii.

Long-Lived Assets By Geographic Area:

	September 30,
	2023		2022
United States	$	10,373,000	$	4,540,000
Canada	15,963,000		12,578,000
Total	$	26,336,000	$	17,118,000

Revenue By Geographic Area:

	Year ended September 30,
	2023		2022
United States	$	8,448,000	$	9,340,000
Canada	16,734,000		19,187,000
Total (excluding interest income)	$	25,182,000	$	28,527,000