SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC 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.

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

The Company’s Chief Operating Decision Maker is the Chief Executive Officer, who utilizes segment revenues and expenses and segment operating profit or loss to assess performance and allocate resources to each segment. General and administrative expenses are reviewed on a consolidated basis.

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,
	2025		2024
Revenues:
Oil and natural gas	$	13,563,000	$	17,396,000
Land investment	—		500,000
Other	80,000		91,000
Total before interest income	13,643,000		17,987,000
Interest income	54,000		88,000
Total revenues	$	13,697,000	$	18,075,000
Cost and expenses:
Oil and natural gas	$	8,966,000	$	9,849,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	3,144,000	$	4,947,000
Other	2,000		3,000
Total depletion, depreciation, and amortization	$	3,146,000	$	4,950,000
Impairment:
Oil and natural gas	$	865,000	$	2,885,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	588,000	$	(285,000)
Land investment	—		500,000
Other	78,000		88,000
Loss on sale of assets	(636,000)		—
Total operating profit	30,000		303,000
Equity in income of affiliates:
Land investment	—		1,071,000
General and administrative expenses	(6,937,000)		(5,130,000)
Foreign currency (loss) gain	(192,000)		10,000
Interest expense	(7,000)		—
Interest income	54,000		88,000
Loss from continuing operations before income taxes	$	(7,052,000)	$	(3,658,000)

Capital Expenditures:

	Year ended September 30,
	2025		2024
Oil and natural gas	$	254,000	$	4,228,000
Other	—		—
Total	$	254,000	$	4,228,000

    Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 8 for additional details).  

Assets By Segment:

	September 30,
	2025		2024
Oil and natural gas (1)
Canada	$	11,118,000	$	15,218,000
United States	—		4,190,000
Other:
Cash and cash equivalents	2,886,000		4,285,000
Asset for retirement benefits	5,928,000		4,899,000
Corporate and other	880,000		260,000
Total	$	20,812,000	$	28,852,000

______________

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

Long-Lived Assets By Geographic Area:

	September 30,
	2025		2024
United States	$	5,965,000	$	8,932,000
Canada	9,617,000		12,572,000
Total	$	15,582,000	$	21,504,000

Revenue By Geographic Area:

	Year ended September 30,
	2025		2024
United States	$	1,172,000	$	2,803,000
Canada	12,471,000		15,184,000
Total (before interest income)	$	13,643,000	$	17,987,000