secwatch.observer — SEC 8-K summary
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Issuer:     BARNWELL INDUSTRIES INC (BRN)
CIK:        0000010048
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001140361-24-037074
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Barnwell Industries Q3 net loss widens to $1.25M on $5.53M revenue; drilling underway
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- Net loss of $1.246M ($0.12/sh) vs $0.717M loss ($0.07/sh) in year-ago quarter; revenue down 2.6% to $5.527M.
- Non-cash impairment of $599K on oil & gas properties due to backward-looking pricing and optimization capex.
- Production operating costs fell 26% YoY to $2.234M; company remains debt-free with $4.393M cash.
- Drilling of one 100%-owned Twining development well commenced July 2024; expected on production early September.
- Strategic review of Water Resources contract drilling segment (sale or wind-down) continues.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10048/000114036124037074/0001140361-24-037074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10048/000114036124037074/ef20034055_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-037074

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