XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.25.2

SUBSEQUENT EVENTS | 9 Months Ended
--- | ---
Jun. 30, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Oil and Natural Gas Property Dispositions On August 8, 2025, Barnwell entered into an agreement with an independent third party to sell all of its working interests in its U.S. oil and natural gas assets for a sales price of $2,300,000. The sales price per the agreement was adjusted for customary purchase price adjustments to reflect the economic activity from the effective date of July 1, 2025 to the closing date August 8, 2025. The U.S. oil and natural gas assets were located in the states of Texas and Oklahoma and were owned by wholly-owned subsidiaries of Barnwell. The Company accounts for its oil and natural gas properties under the full cost method, and thus the carrying value of its U.S. oil and natural gas properties at June 30, 2025 was based on ceiling test parameters mandated by the U.S. Securities and Exchange Commission including a discount rate of 10% and using the 12-month historical rolling average first-day-of-the-month prices, which results in a value that is not necessarily reflective of fair value. The Company estimates it will incur a loss on sale of approximately $700,000 after related income taxes in the quarter ending September 30, 2025. Barnwell will no longer own any oil and natural gas assets in the U.S. as a result of this sale. Promissory Note Amendment In August 2025, the Promissory Note received as partial consideration for the sale of Water Resources (see Note 3) was amended to change the due date of the $150,000 installments due on August 15, 2025 and September 15, 2025 to the following schedule: $100,000 on December 15, 2025; $50,000 on February 15, 2026; and $150,000 on March 15, 2026 and to increase the annual interest rate on the Promissory Note from zero to 12% beginning August 15, 2025 and to 18% beginning December 15, 2025.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration