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SEGMENT INFORMATION
 3 Months Ended
Dec. 31, 2014
SEGMENT INFORMATION  
SEGMENT INFORMATION

 

10.SEGMENT INFORMATION

 

Barnwell operates the following segments: 1) exploring for, developing, acquiring, 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,

 

2014

 

2013

Revenues:

 

 

 

 

 

 

 

Oil and natural gas

 

$
2,972,000

 

 

 

$
5,327,000

 

Land investment

 
1,032,000

 

 

 
120,000

 

Contract drilling

 
1,933,000

 

 

 
1,609,000

 

Other

 
78,000

 

 

 
141,000

 

Total before interest income

 
6,015,000

 

 

 
7,197,000

 

Interest income

 
17,000

 

 

 
4,000

 

Total revenues

 

$
6,032,000

 

 

 

$
7,201,000

 

 

 

 

 

 

 

 

 

Depletion, depreciation, and amortization:

 

 

 

 

 

 

 

Oil and natural gas

 

$
883,000

 

 

 

$
2,059,000

 

Contract drilling

 
71,000

 

 

 
78,000

 

Other

 
25,000

 

 

 
27,000

 

 

 

 

 

 

 

 

 

Total depletion, depreciation, and amortization

 

$
979,000

 

 

 

$
2,164,000

 

 

 

 

 

 

 

 

 

Operating profit (before general and administrative expenses):

 

 

 

 

 

 

 

 

Oil and natural gas

 

$
466,000

 

 

 

$
647,000

 

Land investment

 
1,032,000

 

 

 
120,000

 

Contract drilling

 
337,000

 

 

 
219,000

 

Other

 
53,000

 

 

 
114,000

 

 

 

 

 

 

 

 

 

Total operating profit

 
1,888,000

 

 

 
1,100,000

 

 

 

 

 

 

 

 

 

Equity in income (loss) of affiliates:

 

 

 

 

 

 

 

Land investment

 
88,000

 

 

 
(147,000

)

 

 

 

 

 

 

 

 

General and administrative expenses

 
(2,275,000

)

 

 
(1,856,000

)

Interest expense

 
(90,000

)

 

 
(163,000

)

Interest income

 
17,000

 

 

 
4,000

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

$
(372,000

)

 

 

$
(1,062,000

)