Barnwell Industries reports FY2023 net loss of $961K, plans sale of Hawaii drilling segment

BARNWELL INDUSTRIES INC

FY2023 revenue $25.3M, net loss $961K ($0.10 per share); Q4 revenue $6.8M, net loss $96K.
Oil, natural gas, and NGL prices fell 20%, 43%, and 33% YoY respectively.
Production rose: oil +12%, natural gas +31%, NGL +8% YoY, driven by new Canada wells.
Agreed to sell Hawaii water well drilling operation, expected close early 2024.
Invested $5.35M in Permian Basin wells and $4.77M in Twining area wells during FY2023.

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 fourth quarter ended September 30, 2023 results: revenue $6.8 million, net income a net loss of $96,000, EPS a loss of $0.01 per share.

Period: the fourth quarter ended September 30, 2023
Revenue: $6.8 million
Net income: a net loss of $96,000
EPS: a loss of $0.01 per share
Result: reported results

Exact text from the filing

The Company reported consolidated revenue of $6.8 million and a net loss of $96,000 which equates to a loss of $0.01 per share for the fourth quarter

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARNWELL INDUSTRIES INC reported the year ended September 30, 2023 results: revenue $25.3 million, net income a net loss of $961,000, EPS a loss of $0.10 per share.

Period: the year ended September 30, 2023
Revenue: $25.3 million
Net income: a net loss of $961,000
EPS: a loss of $0.10 per share
Result: reported results

Exact text from the filing

and $25.3 million in full year consolidated revenue, with a net loss of $961,000 for the full year, or a loss of $0.10 per share.

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Source: SEC EDGAR

accession 0001140361-23-057996

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