SEGMENT INFORMATION

6 Months Ended

Mar. 31, 2013

SEGMENT INFORMATION

SEGMENT INFORMATION

8. 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								Six months ended
	March 31,								March 31,
	2013				2012				2013				2012
Revenues:
Oil and natural gas		$	5,605,000			$	6,408,000			$	11,245,000			$	14,197,000
Land investment		282,000				353,000				282,000				353,000
Contract drilling		703,000				281,000				1,420,000				706,000
Other		178,000				121,000				344,000				397,000
Total before interest income		6,768,000				7,163,000				13,291,000				15,653,000
Interest income		1,000				3,000				29,000				15,000
Total revenues		$	6,769,000			$	7,166,000			$	13,320,000			$	15,668,000
Depletion, depreciation, and amortization:
Oil and natural gas		$	2,195,000			$	2,649,000			$	4,730,000			$	5,402,000
Contract drilling		108,000				128,000				223,000				257,000
Other		29,000				29,000				58,000				56,000
Total depletion, depreciation, and amortization		$	2,332,000			$	2,806,000			$	5,011,000			$	5,715,000
Reduction of carrying value of assets:
Oil and natural gas		$	2,179,000			$	-			$	4,506,000			$	-
Residential real estate		-				1,854,000				-				1,854,000
Total reduction of carrying value of assets		$	2,179,000			$	1,854,000			$	4,506,000			$	1,854,000
Operating (loss) profit (before general and administrative expenses):
Oil and natural gas		$	(1,818,000	)		$	967,000			$	(3,033,000	)		$	3,262,000
Land investment		282,000				353,000				282,000				353,000
Contract drilling		(58,000		)		(307,000		)		(64,000		)		(648,000		)
Residential real estate		-				(1,854,000		)		-				(1,854,000		)
Other		149,000				92,000				286,000				341,000
Total operating (loss) profit		(1,445,000		)		(749,000		)		(2,529,000		)		1,454,000
General and administrative expenses		(2,107,000		)		(2,367,000		)		(4,249,000		)		(4,213,000		)
Interest expense		(144,000		)		(219,000		)		(296,000		)		(438,000		)
Interest income		1,000				3,000				29,000				15,000
Loss before income taxes		$	(3,695,000	)		$	(3,332,000	)		$	(7,045,000	)		$	(3,182,000	)