SEGMENT INFORMATION

9 Months Ended

Jun. 30, 2012

SEGMENT INFORMATION

SEGMENT INFORMATION

9.SEGMENT INFORMATION

Barnwell operates the following segments: 1) exploring for, developing, producing and selling oil and natural gas in Canada (oil and natural gas); 2) investing in land interests in Hawaii (land investment); 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling); and 4) developing homes for sale in Hawaii (residential real estate).

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						Nine months ended
	June 30,						June 30,
	2012			2011			2012			2011
Revenues:
Oil and natural gas	$	4,940,000		$	7,657,000		$	19,137,000		$	22,644,000
Land investment	129,000			681,000			482,000			3,742,000
Contract drilling	1,212,000			490,000			1,918,000			2,871,000
Residential real estate	5,975,000			-			5,975,000			-
Other	96,000			143,000			493,000			300,000
Total before interest income	12,352,000			8,971,000			28,005,000			29,557,000
Interest income	6,000			18,000			21,000			32,000
Total revenues	$	12,358,000		$	8,989,000		$	28,026,000		$	29,589,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	2,299,000		$	2,299,000		$	7,701,000		$	6,840,000
Contract drilling	128,000			138,000			385,000			423,000
Other	29,000			24,000			85,000			71,000
Total depletion, depreciation, and amortization	$	2,456,000		$	2,461,000		$	8,171,000		$	7,334,000
Reduction of carrying value of assets:
Land investment	$	-		$	-		$	-		$	190,000
Residential real estate	-			-			1,854,000			-
Other	-			-			-			121,000
Total reduction of carrying value of assets	$	-		$	-		$	1,854,000		$	311,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	199,000		$	2,393,000		$	3,461,000		$	7,359,000
Land investment	129,000			681,000			482,000			3,552,000
Contract drilling	28,000			(481,000		)	(620,000		)	(596,000		)
Residential real estate	(15,000		)	-			(1,869,000		)	-
Other	67,000			119,000			408,000			108,000
Total operating profit	408,000			2,712,000			1,862,000			10,423,000
General and administrative expenses	(1,877,000		)	(1,201,000		)	(6,090,000		)	(7,334,000		)
Interest expense	(200,000		)	(242,000		)	(638,000		)	(862,000		)
Interest income	6,000			18,000			21,000			32,000
(Loss) earnings before income taxes	$	(1,663,000	)	$	1,287,000		$	(4,845,000	)	$	2,259,000