secwatch.observer — SEC 8-K summary
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Issuer:     BARNWELL INDUSTRIES INC (BRN)
CIK:        0000010048
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001140361-24-025961
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Barnwell Q2 net loss widens to $1.77M on $1.68M impairment; revenue up 10%
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- Revenue $5.77M (up 10.2% YoY); net loss $1.77M ($0.18/sh) vs. $1.24M ($0.12/sh) a year ago.
- Non-cash impairment of $1.68M on oil/gas properties due to lower rolling-average prices used in ceiling test.
- Oil, gas, and NGL production increased 16%, 47%, and 100% YoY, respectively.
- G&A expenses fell 33% ($669K) to $1.36M; land segment contributed $500K from lot sales and $953K in distributions.
- Contract drilling operating loss grew $424K on operational issues; company exploring strategic alternatives for segment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10048/000114036124025961/0001140361-24-025961-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10048/000114036124025961/ef20029123_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-025961

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