Barnwell reports FY2022 EPS $0.57 vs $0.73; Q4 loss; invests $5.1M in Permian Basin

BARNWELL INDUSTRIES INC

FY2022 net earnings $5.5M ($0.57/share) down from $6.3M ($0.73); Q4 net loss $143,000 ($0.01/share).
Oil & gas revenues more than doubled; oil production +24%, gas +39%, NGLs +100%; prices up 68%/77%/51%.
Invested ~$5.1M for 15% non-operated working interest in two-well Permian Basin pad targeting Wolfcamp; production expected Q2 FY2023.
Board suspended ATM program after selling 509,467 shares for net $2.36M in FY2022; working capital $11.2M including $12.8M cash.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARNWELL INDUSTRIES INC reported the quarter ended September 30, 2022 results: net income $143,000, EPS $0.01 per share.

Period: the quarter ended September 30, 2022
Net income: $143,000
EPS: $0.01 per share
Result: reported results

Exact text from the filing

For the quarter ended September 30, 2022, Barnwell reported a net loss of $143,000, $0.01 per share, as compared to net earnings of $1,547,000, $0.16 per share, for the quarter ended September 30, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARNWELL INDUSTRIES INC reported the year ended September 30, 2022 results: net income $5,513,000, EPS $0.57 per share.

Period: the year ended September 30, 2022
Net income: $5,513,000
EPS: $0.57 per share
Result: reported results

Exact text from the filing

Barnwell Industries, Inc. (NYSE American: BRN) today reported net earnings of $5,513,000, $0.57 per share, for the year ended September 30, 2022, as compared to net earnings of $6,253,000, $0.73 per share, for the year ended September 30, 2021.

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Source: SEC EDGAR

accession 0001140361-22-047645

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