secwatch.observer — SEC 8-K summary
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Issuer:     BARNWELL INDUSTRIES INC (BRN)
CIK:        0000010048
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001140361-24-049628
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Barnwell Industries reports FY 2024 net loss of $5.6M; revenue $21.7M
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- Net loss of $1.88M in Q4 and $5.57M ($0.56/share) for FY 2024; revenue $4.27M Q4, $21.72M full year.
- Non-cash impairment of oil and gas properties totaled $2.89M for the year, driven by lower 12-month rolling pricing.
- Natural gas production up 6%, NGLs up 23% YoY; oil production flat. Operating costs down 6% to $9.85M.
- New Twining development well averaged ~107 barrels/day in first two months; Matterhorn Pipeline expected to improve gas pricing.
- Company exploring strategic alternatives for contract drilling subsidiary Water Resources, including possible sale or wind-down.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10048/000114036124049628/0001140361-24-049628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10048/000114036124049628/ef20040183_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-049628

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