SEGMENT INFORMATION

9 Months Ended

Jun. 30, 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						Nine months ended
	June 30,						June 30,
	2013			2012			2013			2012
Revenues:
Oil and natural gas	$	4,774,000		$	4,940,000		$	16,019,000		$	19,137,000
Land investment	-			129,000			282,000			482,000
Contract drilling	248,000			1,212,000			1,668,000			1,918,000
Residential real estate	-			5,975,000			-			5,975,000
Other	157,000			96,000			501,000			493,000
Total before interest income	5,179,000			12,352,000			18,470,000			28,005,000
Interest income	3,000			6,000			32,000			21,000
Total revenues	$	5,182,000		$	12,358,000		$	18,502,000		$	28,026,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	1,253,000		$	2,299,000		$	5,983,000		$	7,701,000
Contract drilling	91,000			128,000			314,000			385,000
Other	28,000			29,000			86,000			85,000
Total depletion, depreciation, and amortization	$	1,372,000		$	2,456,000		$	6,383,000		$	8,171,000
Reduction of carrying value of assets:
Oil and natural gas	$	-		$	-		$	4,506,000		$	-
Residential real estate	-			-			-			1,854,000
Total reduction of carrying value of assets	$	-		$	-		$	4,506,000		$	1,854,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	1,115,000		$	199,000		$	(1,918,000	)	$	3,461,000
Land investment	-			129,000			282,000			482,000
Contract drilling	(210,000		)	28,000			(274,000		)	(620,000		)
Residential real estate	-			(15,000		)	-			(1,869,000		)
Other	129,000			67,000			415,000			408,000
Total operating profit (loss)	1,034,000			408,000			(1,495,000		)	1,862,000
General and administrative expenses	(2,105,000		)	(1,877,000		)	(6,354,000		)	(6,090,000		)
Interest expense	(146,000		)	(200,000		)	(442,000		)	(638,000		)
Interest income	3,000			6,000			32,000			21,000
Loss before income taxes	$	(1,214,000	)	$	(1,663,000	)	$	(8,259,000	)	$	(4,845,000	)