SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Sep. 30, 2013

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

13. SEGMENT AND GEOGRAPHIC 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.

	Year ended September 30,
	2013			2012
Revenues:
Oil and natural gas	$	21,376,000		$	24,610,000
Land investment	282,000			482,000
Contract drilling	2,338,000			2,340,000
Residential real estate	-			5,975,000
Other	567,000			633,000
Total before interest income	24,563,000			34,040,000
Interest income	45,000			22,000
Total revenues	$	24,608,000		$	34,062,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	8,034,000		$	10,367,000
Contract drilling	394,000			509,000
Other	114,000			114,000
Total depletion, depreciation, and amortization	$	8,542,000		$	10,990,000
Reduction of carrying value of assets:
Oil and natural gas	$	4,506,000		$	2,551,000
Land investment	-			488,000
Residential real estate	-			1,854,000
Other	-			1,754,000
Total reduction of carrying value of assets	$	4,506,000		$	6,647,000
Operating (loss) profit
(before general and administrative expenses):
Oil and natural gas	$	(1,156,000	)	$	1,247,000
Land investment	282,000			(6,000		)
Contract drilling	(295,000		)	(1,160,000		)
Residential real estate	-			(1,869,000		)
Other	453,000			(1,235,000		)
Total operating loss	(716,000		)	(3,023,000		)
General and administrative expenses	(8,911,000		)	(8,268,000		)
Interest expense	(587,000		)	(790,000		)
Interest income	45,000			22,000
Loss before income taxes	$	(10,169,000	)	$	(12,059,000	)

Capital Expenditures:

	Year ended September 30,
	2013		2012
Oil and natural gas	$	7,506,000	$	4,915,000
Contract drilling	17,000		72,000
Other	2,000		35,000
Total	$	7,525,000	$	5,022,000

Assets By Segment:

	September 30,
	2013		2012
Oil and natural gas (1)	$	40,559,000	$	46,946,000
Land investment (2)	2,381,000		2,381,000
Contract drilling (2)	2,905,000		2,963,000
Residential real estate (2)	5,448,000		5,309,000
Other:
Cash and cash equivalents	7,828,000		8,845,000
Corporate and other	3,593,000		3,446,000
Total	$	62,714,000	$	69,890,000

(1) Primarily located in the province of Alberta, Canada.

(2) Located in Hawaii.

Long-Lived Assets By Geographic Area:

	September 30,
	2013		2012
United States	$	6,699,000	$	7,161,000
Canada	36,988,000		43,844,000
Total	$	43,687,000	$	51,005,000

Revenue By Geographic Area:

	Year ended September 30,
	2013		2012
United States	$	2,643,000	$	8,892,000
Canada	21,920,000		25,148,000
Total (excluding interest income)	$	24,563,000	$	34,040,000