BRN Barnwell Industries

Barnwell Industries, Inc. engages in the oil and natural gas exploration, land investment, and contract drilling services. It operates through the following segments: Oil and Natural Gas, Land Investment, and Contract Drilling. The Oil and Natural Gas segment engages in the exploration, development, production and sale of oil and natural gas in Canada. The Land Investment segment invests in land interest in Hawaii. The Contract Drilling segment provides well drilling services and water pumping system installation and repairs in Hawaii. The company was founded by Morton H. Kinzler in 1956 and is headquartered in Honolulu, HI.
Company profile
Ticker
BRN
Exchange
Website
CEO
Alexander C. Kinzler
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
720496921
BRN stock data
()
Press releases
Riot Blockchain Announces Appointment of Megan Brooks as Chief Operating Officer, and Appointments to the Roles of VP, Capital Markets and VP, Finance
6 Apr 21
Barnwell Industries, Inc. Reports Earnings for Its First Quarter Ended December 31, 2020
10 Feb 21
Barnwell Industries Reaches Agreement With MRMP Stockholders to End Potential Proxy Contest
28 Jan 21
Calendar
16 Feb 21
17 Apr 21
30 Sep 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Annual (USD) |
Sep 20 | Sep 19 | Sep 18 | Sep 17 | |
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 5.33M | 5.33M | 5.33M | 5.33M | 5.33M | 5.33M |
Cash burn (monthly) | (positive/no burn) | (positive/no burn) | (positive/no burn) | 233.33K | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | n/a | n/a | n/a | 833.09K | n/a | n/a |
Cash remaining | n/a | n/a | n/a | 4.5M | n/a | n/a |
Runway (months of cash) | n/a | n/a | n/a | 19.3 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
9 Feb 21 | Douglas N Woodrum | Director Stock Option Common Stock | Grant | Aquire A | No | No | 3.33 | 50,000 | 166.5K | 50,000 |
9 Feb 21 | Kenneth S Grossman | Director Stock Option Common Stock | Grant | Aquire A | No | No | 3.33 | 60,000 | 199.8K | 60,000 |
9 Feb 21 | Peter J. O'Malley | Director Stock Option Common Stock | Grant | Aquire A | No | No | 3.33 | 50,000 | 166.5K | 50,000 |
9 Feb 21 | Philip James McPherson | Director Stock Option Common Stock | Grant | Aquire A | No | No | 3.33 | 50,000 | 166.5K | 50,000 |
9 Feb 21 | Robert J. Jr. Inglima | Director Stock Option Common Stock | Grant | Aquire A | No | No | 3.33 | 50,000 | 166.5K | 50,000 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
2.8% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 440K |
Total shares | 238.04K |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Sherwood Ned L | 238.04K | $440K |
Financial report summary
?Management Discussion
- ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
- This Form 10-Q, and the documents incorporated herein by reference, contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements. All such statements we make are forward-looking statements made under the safe harbor of the PSLRA, except to the extent such statements relate to the operations of a partnership or limited liability company. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements” and “Risk Factors” sections of Barnwell’s Annual Report on Form 10-K for the year ended September 30, 2020. Investors should not place undue reliance on these forward-looking statements, as they speak only as of the date of filing of this Form 10-Q, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.
- Management has determined that our most critical accounting policies and estimates are those related to the full-cost ceiling calculation and depletion of our oil and natural gas properties, the estimation of our contract drilling segment's revenues and expenses, and the calculation of our income taxes, all of which are discussed in our Annual Report on Form 10-K, as amended by our Form 10-K/A Amendment No. 1, for the fiscal year ended September 30, 2020. There have been no significant changes to these critical accounting policies and estimates during the three months ended December 31, 2020. We continue to monitor our accounting policies to ensure proper application of current rules and regulations.
Content analysis
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H.S. senior Avg
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New words:
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Removed:
acre, adding, admission, applied, approach, assist, awarding, began, begin, borrowing, broker, capitalization, carry, classification, clubhouse, codification, combined, commencement, commitment, comply, Concurrent, construct, constructed, consultant, cure, delist, deposit, determinable, direct, employee, entity, expense, expensed, expired, exposure, extend, factor, failed, final, finalized, higher, iii, implemented, implicit, improved, improvement, inception, initial, invested, investee, issuer, limitation, literature, maintenance, marketing, minimum, Overview, package, participated, potion, practical, project, proportion, ranging, readily, refund, remeasured, removing, requirement, residence, residual, retrospective, River, ROU, round, seasonal, space, Spirit, standard, storage, stranded, strategy, summary, suspending, transition, unchanged, unimproved, updating, Wood, yard
Financial reports
10-Q
2021 Q1
Quarterly report
16 Feb 21
10-K/A
2020 FY
Annual report (amended)
27 Jan 21
10-K
2020 FY
Annual report
16 Dec 20
10-Q
2020 Q3
Quarterly report
13 Aug 20
10-Q
2020 Q2
Quarterly report
29 Jun 20
10-Q
2020 Q1
Quarterly report
12 Feb 20
10-K/A
2020 FY
Annual report (amended)
5 Feb 20
10-K/A
2020 FY
Annual report (amended)
28 Jan 20
10-K
2019 FY
Annual report
22 Dec 19
10-Q
2019 Q3
Quarterly report
13 Aug 19
Current reports
8-K
Entry into a Material Definitive Agreement
16 Mar 21
8-K
Departure of Directors or Certain Officers
16 Feb 21
8-K
Results of Operations and Financial Condition
10 Feb 21
8-K
Entry into a Material Definitive Agreement
1 Feb 21
8-K
Results of Operations and Financial Condition
11 Dec 20
8-K
Results of Operations and Financial Condition
11 Aug 20
8-K
Changes in Registrant's Certifying Accountant
10 Jul 20
8-K
Results of Operations and Financial Condition
23 Jun 20
8-K
Other Events
14 May 20
8-K
Other Events
14 Apr 20
Registration and prospectus
Proxies
DEF 14A
Definitive proxy
11 Mar 21
DEFA14A
Additional proxy soliciting materials
1 Feb 21
DEFA14A
Additional proxy soliciting materials
28 Jan 21
DEFA14A
Additional proxy soliciting materials
11 Jan 21
DEFA14A
Additional proxy soliciting materials
2 Apr 20
DEFA14A
Additional proxy soliciting materials
2 Apr 20
DEFA14A
Additional proxy soliciting materials
25 Mar 20
DFAN14A
Additional proxy materials by non-management
24 Mar 20
DFAN14A
Additional proxy materials by non-management
20 Mar 20
DEFA14A
Additional proxy soliciting materials
16 Mar 20
Other
EFFECT
Notice of effectiveness
29 Mar 21
UPLOAD
Letter from SEC
16 Jun 15
CORRESP
Correspondence with SEC
29 Apr 15
UPLOAD
Letter from SEC
19 Apr 15
NO ACT
No action letter
4 Jan 15
UPLOAD
Letter from SEC
9 Feb 12
CORRESP
Correspondence with SEC
2 Feb 12
UPLOAD
Letter from SEC
29 Jan 12
UPLOAD
Letter from SEC
8 Apr 09
CORRESP
Correspondence with SEC
9 Mar 09
Ownership
4
BARNWELL INDUSTRIES / Russell M Gifford ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / DOUGLAS N WOODRUM ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / Philip James McPherson ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / KENNETH S GROSSMAN ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / Robert J. Jr. Inglima ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / Bradley M Tirpak ownership change
17 Feb 21
4/A
BARNWELL INDUSTRIES / Peter J. O'Malley ownership change
17 Feb 21
4
BARNWELL INDUSTRIES / ALEXANDER C KINZLER ownership change
11 Feb 21
4
BARNWELL INDUSTRIES / DOUGLAS N WOODRUM ownership change
11 Feb 21
4
BARNWELL INDUSTRIES / KENNETH S GROSSMAN ownership change
11 Feb 21
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