DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Schedules of discontinued operations presented in the financial statements

The following table presents the financial results from discontinued operations presented in the Condensed Consolidated Statements of Operations.

	Three months ended March 31,				Six months ended March 31,
	2026		2025		2026		2025
Revenues:
Contract drilling	$	—	$	613,000	$	—	$	1,156,000
	—		613,000		—		1,156,000
Costs and expenses:
Contract drilling operating	—		519,000		—		1,239,000
General and administrative	—		91,000		—		209,000
Depreciation and amortization	—		16,000		—		40,000
Interest expense	—		1,000		—		1,000
Gain on sale of assets (1)	—		(538,000)		—		(538,000)
	—		89,000		—		951,000
Loss from discontinued operations before income taxes	—		524,000		—		205,000
Loss on sale of discontinued operations	—		(193,000)		—		(193,000)
Net loss from discontinued operations	$	—	$	331,000	$	—	$	12,000

(1) In February 2025, the Company completed the sale of a contract drilling segment drilling rig and related ancillary equipment to an independent third party for proceeds of $538,000, net of related costs. The drilling rig and related ancillary equipment were fully depreciated and had a net book value of zero and as a result of the sale, the Company recognized a $538,000 gain during the three and six months ended March 31, 2025 which was recorded in discontinued operations.