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SEGMENT INFORMATION
 3 Months Ended
Dec. 31, 2012
SEGMENT INFORMATION  
SEGMENT INFORMATION

8.                                    SEGMENT INFORMATION

 

Barnwell operates the following segments: 1) exploring for, developing, producing and selling oil and natural gas in Canada (oil and natural gas); 2) investing in land interests in Hawaii (land investment); 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling); and 4) developing homes for sale in Hawaii (residential real estate).

 

The following table presents certain financial information related to Barnwell’s reporting segments.  All revenues reported are from external customers with no intersegment sales or transfers.

 

 

 

Three months ended December 31,

 

 

 

2012

 

 

 

2011

 

Revenues:

 

 

 

 

 

 

 

Oil and natural gas

 

$

5,640,000

 

 

 

$

7,789,000

 

Contract drilling

 

717,000

 

 

 

425,000

 

Other

 

166,000

 

 

 

276,000

 

Total before interest income

 

6,523,000

 

 

 

8,490,000

 

Interest income

 

28,000

 

 

 

12,000

 

 

 

 

 

 

 

 

 

Total revenues

 

$

6,551,000

 

 

 

$

8,502,000

 

 

 

 

 

 

 

 

 

Depletion, depreciation, and amortization:

 

 

 

 

 

 

 

Oil and natural gas

 

$

2,535,000

 

 

 

$

2,753,000

 

Contract drilling

 

115,000

 

 

 

129,000

 

Other

 

29,000

 

 

 

27,000

 

 

 

 

 

 

 

 

 

Total depletion, depreciation, and amortization

 

$

2,679,000

 

 

 

$

2,909,000

 

 

 

 

 

 

 

 

 

Reduction of carrying value of assets:

 

 

 

 

 

 

 

Oil and natural gas

 

$

2,327,000

 

 

 

$

-       

 

 

 

 

 

 

 

 

 

Operating (loss) profit

 

 

 

 

 

 

 

(before general and administrative expenses):

 

 

 

 

 

 

 

Oil and natural gas

 

$

(1,215,000

)

 

 

$

2,295,000

 

Contract drilling

 

(6,000

)

 

 

(341,000

)

Other

 

137,000

 

 

 

249,000

 

 

 

 

 

 

 

 

 

Total operating (loss) profit

 

(1,084,000

)

 

 

2,203,000

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

(2,142,000

)

 

 

(1,846,000

)

Interest expense

 

(152,000

)

 

 

(219,000

)

Interest income

 

28,000

 

 

 

12,000

 

 

 

 

 

 

 

 

 

(Loss) earnings before income taxes

 

$

(3,350,000

)

 

 

$

150,000