secwatch.observer — SEC 8-K summary
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Issuer:     BARNWELL INDUSTRIES INC (BRN)
CIK:        0000010048
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001140361-23-057996
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10048/000114036123057996/0001140361-23-057996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10048/000114036123057996/ef20016795_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-057996

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