secwatch.observer — SEC 8-K summary
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Issuer:     BARNWELL INDUSTRIES INC (BRN)
CIK:        0000010048
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001140361-24-007029
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Barnwell Industries Q1 net loss $664K vs prior-year profit; production up, prices down
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- Revenue $6.155M (down 18% YoY); net loss $0.07/share vs net earnings $0.11/share.
- Oil, gas, NGL production rose 21%, 26%, 80% but prices fell 7%, 57%, 34% YoY.
- G&A expenses decreased 38% ($845K) YoY due to lower professional fees and bonus.
- Water Resources sale agreement terminated; company evaluating strategic alternatives including wind-down.
- Hedged ~30% of Canadian oil and gas at fixed prices through mid-2024; planning 1-2 Twining wells.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10048/000114036124007029/0001140361-24-007029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10048/000114036124007029/ef20021342_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-007029

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