SEGMENT INFORMATION

6 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

As disclosed in Note 3 “Discontinued Operations,” on March 14, 2025, the Company completed the sale of Water Resources, which represented the Company’s contract drilling segment. The financial results of the Company’s contract drilling business has been presented as discontinued operations and therefore is excluded from segment reporting. Accordingly, Barnwell’s continuing operations include the following two principal business segments:

Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and in the U.S. states of Oklahoma and Texas.

Land Investment Segment - Barnwell owns leasehold land interests in Hawaii.

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,
	2025		2024		2025		2024
Revenues:
Oil and natural gas	$	3,543,000	$	4,144,000	$	7,440,000	$	9,274,000
Land investment	—		500,000		—		500,000
Other	22,000		16,000		33,000		33,000
Total before interest income	3,565,000		4,660,000		7,473,000		9,807,000
Interest income	4,000		18,000		30,000		33,000
Total revenues	$	3,569,000	$	4,678,000	$	7,503,000	$	9,840,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	753,000	$	1,342,000	$	1,657,000	$	2,800,000
Other	1,000		—		1,000		1,000
Total depletion, depreciation, and amortization	$	754,000	$	1,342,000	$	1,658,000	$	2,801,000
Impairment:
Oil and natural gas	$	52,000	$	1,677,000	$	665,000	$	1,677,000
Total impairment	$	52,000	$	1,677,000	$	665,000	$	1,677,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	752,000	$	(1,205,000)	$	636,000	$	(324,000)
Land investment	—		500,000		—		500,000
Other	21,000		16,000		32,000		32,000
Total operating profit (loss)	773,000		(689,000)		668,000		208,000
Equity in income of affiliates:
Land investment	—		1,071,000		—		1,071,000
General and administrative expenses	(2,162,000)		(1,256,000)		(3,325,000)		(2,576,000)
Foreign currency gain (loss)	10,000		(128,000)		(341,000)		(2,000)
Interest expense	(1,000)		—		(1,000)		—
Interest income	4,000		18,000		30,000		33,000
Loss from continuing operations before income taxes	$	(1,376,000)	$	(984,000)	$	(2,969,000)	$	(1,266,000)