Barnwell Industries Files Q1 2025 10-Q
Ticker: BRN · Form: 10-Q · Filed: Feb 14, 2025 · CIK: 10048
Sentiment: neutral
Topics: 10-Q, quarterly-report, oil-and-gas, drilling
TL;DR
Barnwell Industries filed their Q1 2025 10-Q. Check financials for Oil/Gas and Drilling segments.
AI Summary
Barnwell Industries Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year. Key financial data and operational details for this period are presented, including segment performance in Oil and Natural Gas and Contract Drilling.
Why It Matters
This filing provides investors with an update on Barnwell Industries' financial performance and operational status for the first quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and operational updates.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period for this 10-Q filing.)
- 0930 — Fiscal Year End (Indicates the end of Barnwell Industries' fiscal year.)
Key Players & Entities
- BARNWELL INDUSTRIES INC (company) — Filer
- 20241231 (date) — Period of Report
- 20250214 (date) — Filed as of Date
- 0000010048 (company) — Central Index Key
- 1311 (industry_code) — Standard Industrial Classification
- HONOLULU (location) — Business Address City
- 808-531-8400 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is December 31, 2024.
What is Barnwell Industries' Standard Industrial Classification code?
Barnwell Industries' Standard Industrial Classification code is 1311, which corresponds to Crude Petroleum & Natural Gas.
What is the business address of Barnwell Industries?
The business address of Barnwell Industries is 1100 ALAKEA ST., SUITE 500, HONOLULU, HI 96813.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on February 14, 2025.
Which business segments are mentioned in the filing data?
The filing data mentions segments such as Oil and Natural Gas, Contract Drilling, and All Other Segments.
Filing Stats: 4,593 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2025-02-14 16:05:58
Key Financial Figures
- $0.50 — ange on which registered Common Stock, $0.50 par value BRN NYSE American Common Sto
- $0 — 3,534 shares of common stock, par value $0.50, outstanding. BARNWELL INDUSTRIES,
Filing Documents
- brn-20241231.htm (10-Q) — 877KB
- exhibit311123124.htm (EX-31.1) — 11KB
- exhibit312123124.htm (EX-31.2) — 11KB
- exhibit32123124.htm (EX-32) — 9KB
- 0000010048-25-000009.txt ( ) — 5519KB
- brn-20241231.xsd (EX-101.SCH) — 40KB
- brn-20241231_cal.xml (EX-101.CAL) — 62KB
- brn-20241231_def.xml (EX-101.DEF) — 191KB
- brn-20241231_lab.xml (EX-101.LAB) — 448KB
- brn-20241231_pre.xml (EX-101.PRE) — 331KB
- brn-20241231_htm.xml (XML) — 775KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Balance Sheets - December 31, 2024 and September 30, 2024 3 Condensed Consolidated Statements of Operations - three months ended December 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss - three months ended December 31, 2024 and 2023 5 Condensed Consolidated Statements of Equity - three months ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows - three months ended December 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 4.
Controls and Procedures
Controls and Procedures 32 PART II. OTHER INFORMATION: Item 1A.
Risk Factors
Risk Factors 33 Item 5. Other Information 34 Item 6. Exhibits 34 Signature 35 Index to Exhibits 36
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) December 31, 2024 September 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,957,000 $ 4,505,000 Accounts and other receivables, net of allowance for credit losses of: $ 350,000 at December 31, 2024; $ 375,000 at September 30, 2024 2,403,000 2,770,000 Assets held for sale 69,000 69,000 Other current assets 1,547,000 1,539,000 Total current assets 5,976,000 8,883,000 Asset for retirement benefits 5,002,000 4,899,000 Operating lease right-of-use assets 153,000 39,000 Property and equipment: Proved oil and natural gas properties (full cost method) 79,081,000 83,557,000 Drilling rigs and other property and equipment 3,660,000 3,679,000 Total property and equipment 82,741,000 87,236,000 Accumulated depletion, impairment, depreciation, and amortization ( 67,862,000 ) ( 70,388,000 ) Total property and equipment, net 14,879,000 16,848,000 Total assets $ 26,010,000 $ 30,669,000 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 1,319,000 $ 1,822,000 Accrued capital expenditures 105,000 2,407,000 Accrued compensation 609,000 650,000 Accrued operating and other expenses 1,575,000 1,834,000 Current portion of asset retirement obligation 938,000 798,000 Other current liabilities 788,000 301,000 Total current liabilities 5,334,000 7,812,000 Operating lease liabilities 122,000 7,000 Liability for retirement benefits 1,921,000 1,898,000 Asset retirement obligation 7,237,000 7,790,000 Deferred income tax liabilities 91,000 100,000 Total liabilities 14,705,000 17,607,000 Commitments and contingencies Equity: Common stock, par value $ 0.50 per share; authorized, 40,000,000 shares: 10,221,434 issued at December 31, 2024; 10,195,990 issued at September 30, 2024 5,111,000 5,098,000 Additional paid-in capital 7,746,000 7,690,000 (Accumulated deficit) retained earnings ( 1,322,000 ) 595,000 A