Barnwell Industries, Inc. HONOLULU, Dec. 29, 2022 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) today reported net earnings of $5,513,000, $0.57 per share, for the year ended September 30, 2022, as compared to net earnings of $6,253,000, $0.73 per share, for the year ended September 30, 2021. For the quarter ended September 30, 2022, Barnwell reported a net loss of $143,000, $0.01 per share, as compared to net earnings of $1,547,000, $0.16 per share, for the quarter ended September 30, 2021. Mr. Alexander C. Kinzler, Chief Executive Officer of Barnwell, commented, “We are pleased to report that our oil and natural gas revenues more than doubled for fiscal 2022, as compared to the prior year. This was due to higher prices and production for all products, with oil, natural gas, and natural gas liquids prices increasing 68%, 77%, and 51%, respectively and our production of oil, natural gas, and natural gas liquids increasing 24%, 39%, and 100%, respectively, as compared to last year. Our Oklahoma operations generated $3,496,000 or 15% of our oil and natural gas segment revenues for fiscal 2022. The $740,000 decrease in net earnings in fiscal 2022 as compared to fiscal 2021 was primarily […]
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