Barnwell Industries (BRN) 10-Q 12 May 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2016	May. 11, 2016
Document and Entity Information
Entity Registrant Name	BARNWELL INDUSTRIES INC
Entity Central Index Key	10,048
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,277,160
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Sep. 30, 2015
Current assets:
Cash and cash equivalents	$ 8,949	$ 8,471
Restricted cash	218	7,458
Accounts and other receivables, net of allowance for doubtful accounts of: $41,000 at March 31, 2016; $23,000 at September 30, 2015	1,283	2,300
Income taxes receivable	2,537	82
Investment held for sale	1,192	1,192
Real estate held for sale	5,132	5,132
Other current assets	1,423	1,043
Total current assets	20,734	25,678
Restricted cash, net of current portion	57	119
Investments	6,704	6,288
Property and equipment	78,730	75,953
Accumulated depletion, depreciation, and amortization	(69,150)	(66,485)
Property and equipment, net	9,580	9,468
Total assets	37,075	41,553
Current liabilities:
Accounts payable	1,557	2,653
Accrued capital expenditures	298	363
Accrued operating and other expenses	1,412	1,343
Accrued incentive and other compensation	337	560
Billings in excess of costs	111	569
Payable to joint interest owners	150	428
Current portion of asset retirement obligation	930	506
Current portion of long-term debt	3,440	3,440
Other current liabilities	123	141
Total current liabilities	8,358	10,003
Liability for retirement benefits	5,244	5,409
Asset retirement obligation	6,467	6,430
Deferred income taxes	493	449
Total liabilities	$ 20,562	$ 22,291
Commitments and contingencies (Note 13)
Equity:
Common stock, par value $0.50 per share; authorized, 20,000,000 shares: 8,445,060 issued at March 31, 2016 and September 30, 2015	$ 4,223	$ 4,223
Additional paid-in capital	1,340	1,335
Retained earnings	14,450	17,467
Accumulated other comprehensive loss, net	(1,929)	(2,122)
Treasury stock, at cost: 167,900 shares at March 31, 2016 and September 30, 2015	(2,286)	(2,286)
Total stockholders' equity	15,798	18,617
Non-controlling interests	715	645
Total equity	16,513	19,262
Total liabilities and equity	$ 37,075	$ 41,553

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Sep. 30, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 41	$ 23
Common stock, par value	$ 0.50	$ 0.50
Common stock, authorized shares	20,000,000	20,000,000
Common stock, issued shares	8,445,060	8,445,060
Treasury stock, shares	167,900	167,900

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Oil and natural gas	$ 621	$ 2,092	$ 1,469	$ 5,064
Contract drilling	550	491	1,382	2,424
Sale of interest in leasehold land, net	284	817	413	1,849
Gas processing and other	67	92	111	187
Total revenues	1,522	3,492	3,375	9,524
Costs and expenses:
Oil and natural gas operating	1,014	1,818	1,753	3,441
Contract drilling operating	618	472	1,168	1,997
General and administrative	1,528	2,104	3,369	4,379
Depletion, depreciation, and amortization	391	868	753	1,847
Interest expense	33	82	66	172
Total costs and expenses	3,584	5,344	7,109	11,836
Loss before equity in income of affiliates and income taxes	(2,062)	(1,852)	(3,734)	(2,312)
Equity in income of affiliates	253	368	416	456
Loss before income taxes	(1,809)	(1,484)	(3,318)	(1,856)
Income tax (benefit) provision	(264)	389	(457)	300
Net loss	(1,545)	(1,873)	(2,861)	(2,156)
Less: Net earnings attributable to non-controlling interests	63	144	156	328
Net loss attributable to Barnwell Industries, Inc.	$ (1,608)	$ (2,017)	$ (3,017)	$ (2,484)
Basic and diluted net loss per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ (0.19)	$ (0.24)	$ (0.36)	$ (0.30)
Weighted-average number of common shares outstanding:
Basic and diluted (in shares)	8,277,160	8,277,160	8,277,160	8,277,160

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,545)	$ (1,873)	$ (2,861)	$ (2,156)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes of $0	272	(772)	116	(1,179)
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	38	27	77	53
Total other comprehensive income (loss)	310	(745)	193	(1,126)
Total comprehensive loss	(1,235)	(2,618)	(2,668)	(3,282)
Less: Comprehensive income attributable to non-controlling interests	63	144	156	328
Comprehensive loss attributable to Barnwell Industries, Inc.	$ (1,298)	$ (2,762)	$ (2,824)	$ (3,610)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (2,861)	$ (2,156)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Equity in income of affiliates	(416)	(456)
Depletion, depreciation, and amortization	753	1,847
Foreign exchange loss	0	146
Loss on sale of investment	0	16
Retirement benefits expense	265	204
Accretion of asset retirement obligation	226	308
Deferred income tax (benefit) expense	(89)	647
Asset retirement obligation payments	(125)	(489)
Share-based compensation benefit	(23)	(47)
Retirement plan contributions	(353)	(253)
Sale of interest in leasehold land, net	(413)	(1,849)
Decrease from changes in current assets and liabilities	(1,571)	(2,361)
Net cash used in operating activities	(4,607)	(4,443)
Cash flows from investing activities:
Decrease in restricted cash	4,957	0
Proceeds from sale of interest in leasehold land, net of fees paid	413	1,849
Proceeds from sale of investment, net of closing costs	0	266
Payment to acquire oil and natural gas properties	0	(526)
Capital expenditures - oil and natural gas	(598)	(564)
Capital expenditures - all other	(39)	(75)
Net cash provided by investing activities	4,733	950
Cash flows from financing activities:
Repayments of long-term debt	0	(2,445)
Decrease in restricted cash	166	0
Contributions from non-controlling interests	0	90
Distributions to non-controlling interests	(86)	(334)
Net cash provided by (used in) financing activities	80	(2,689)
Effect of exchange rate changes on cash and cash equivalents	272	(825)
Net increase (decrease) in cash and cash equivalents	478	(7,007)
Cash and cash equivalents at beginning of period	8,471	16,104
Cash and cash equivalents at end of period	$ 8,949	$ 9,097

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-controlling Interests
Balance, beginning of period (in shares) at Sep. 30, 2014		8,277,160
Balance, beginning of period at Sep. 30, 2014	$ 19,945	$ 4,223	$ 1,315	$ 16,204	$ (258)	$ (2,286)	$ 747
Increase (Decrease) in Stockholders' Equity
Contributions from non-controlling interests	90						90
Distributions to non-controlling interests	(334)						(334)
Net earnings (loss)	(2,156)			(2,484)			328
Share-based compensation	11		11
Foreign currency translation adjustments, net of taxes of $0	(1,179)				(1,179)
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	53				53
Balance, end of period (in shares) at Mar. 31, 2015		8,277,160
Balance, end of period at Mar. 31, 2015	16,430	$ 4,223	1,326	13,720	(1,384)	(2,286)	831
Balance, beginning of period (in shares) at Dec. 31, 2014		8,277,160
Balance, beginning of period at Dec. 31, 2014	19,122	$ 4,223	1,322	15,737	(639)	(2,286)	765
Increase (Decrease) in Stockholders' Equity
Contributions from non-controlling interests	45						45
Distributions to non-controlling interests	(123)						(123)
Net earnings (loss)	(1,873)			(2,017)			144
Share-based compensation	4		4
Foreign currency translation adjustments, net of taxes of $0	(772)				(772)
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	27				27
Balance, end of period (in shares) at Mar. 31, 2015		8,277,160
Balance, end of period at Mar. 31, 2015	16,430	$ 4,223	1,326	13,720	(1,384)	(2,286)	831
Balance, beginning of period (in shares) at Sep. 30, 2015		8,277,160
Balance, beginning of period at Sep. 30, 2015	19,262	$ 4,223	1,335	17,467	$ (2,122)	$ (2,286)	645
Increase (Decrease) in Stockholders' Equity
Distributions to non-controlling interests	(86)						(86)
Net earnings (loss)	(2,861)			(3,017)			156
Share-based compensation	5		5
Foreign currency translation adjustments, net of taxes of $0	116				$ 116
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	77				77
Balance, end of period (in shares) at Mar. 31, 2016		8,277,160
Balance, end of period at Mar. 31, 2016	16,513	$ 4,223	1,340	14,450	(1,929)	$ (2,286)	715
Balance, beginning of period (in shares) at Dec. 31, 2015		8,277,160
Balance, beginning of period at Dec. 31, 2015	17,804	$ 4,223	1,338	16,058	(2,239)	(2,286)	710
Increase (Decrease) in Stockholders' Equity
Distributions to non-controlling interests	(58)						(58)
Net earnings (loss)	(1,545)			(1,608)			63
Share-based compensation	2		2
Foreign currency translation adjustments, net of taxes of $0	272				272
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	38				38
Balance, end of period (in shares) at Mar. 31, 2016		8,277,160
Balance, end of period at Mar. 31, 2016	$ 16,513	$ 4,223	$ 1,340	$ 14,450	$ (1,929)	$ (2,286)	$ 715

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$ 0	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6% -owned land investment general partnership (Kaupulehu Developments), a 75% -owned land investment partnership (KD Kona 2013 LLLP) and two 80%-owned joint ventures (Kaupulehu 2007, LLLP and Kaupulehu Investors, LLC). All significant intercompany accounts and transactions have been eliminated. Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2015 Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of September 30, 2015 has been derived from audited consolidated financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2016 , results of operations, comprehensive loss, and equity for the three and six months ended March 31, 2016 and 2015 , and cash flows for the six months ended March 31, 2016 and 2015 , have been made. The results of operations for the period ended March 31, 2016 are not necessarily indicative of the operating results for the full year. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates. Significant Accounting Policies There have been no changes to Barnwell’s significant accounting policies as described in the Notes to Consolidated Financial Statements included in Item 8 of the Company’s most recently filed Annual Report on Form 10-K. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This ASU relates to discontinued operations reporting for disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on an entity’s operations and financial results. The standard expands the disclosures for discontinued operations and requires new disclosures related to individually material disposals that do not meet the definition of a discontinued operation. The Company adopted the provisions of this ASU effective October 1, 2015. The adoption of this update did not have a material impact on Barnwell’s consolidated financial statements.

LIQUIDITY

LIQUIDITY	6 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
LIQUIDITY	LIQUIDITY In September 2015, Barnwell sold its interests in its principal oil and natural gas properties located in the Dunvegan and Belloy areas of Alberta, Canada. Barnwell's net proceeds from the sale, after broker's fees and other closing costs, were $14,162,000 . On closing, approximately half of the proceeds were withheld in an escrow account for the Canada Revenue Agency for potential amounts due for Barnwell’s Canadian income taxes related to the sale. In February 2016, the Canada Revenue Agency instructed the Company to make an installment payment of approximately $2,000,000 related to the sale, prior to their issuance of a Certificate of Compliance and release of the remaining escrow funds. The Company made the installment payment using a portion of the funds held in escrow and received the remaining funds of $4,957,000 from escrow in March 2016. An income tax receivable of $2,537,000 was recorded at March 31, 2016, primarily for the excess of Canadian federal and provincial income tax installment payments over tax liability, as all necessary Canadian income taxes related to the sale were paid in the tax installment payment made in September 2015. The Canadian income tax refunds were received in April and May 2016. On September 30, 2015, as a result of the sale of Dunvegan, Barnwell’s revolving credit facility at Royal Bank of Canada was amended and reduced by the bank to $1,000,000 Canadian dollars, or U.S. $771,000 at the March 31, 2016 exchange rate. Upon the April 2016 review the credit facility was terminated (see Note 7). Barnwell's oil and natural gas segment is subject to the provisions of the Alberta Energy Regulator's (“AER”) Licensee Liability Rating (“LLR”) program. Under the LLR program the AER calculates a Liability Management Ratio (“LMR”) for a company based on the ratio of the company’s deemed assets over its deemed liabilities relating to wells and facilities for which the company is the licensed operator. The value of the deemed assets is based on each well's most recent twelve months of production and an industry average netback as determined by the AER annually. The LMR assessment is designed to assess a company’s ability to address its suspension, abandonment, remediation, and reclamation liabilities. Companies with a LMR less than 1.0 are required to deposit funds with the AER to cover future deemed liabilities. In February 2016, Barnwell's LMR fell below 1.0 , due to the transfer of a well license with a favorable LMR, and Barnwell was required to make a $142,000 cash deposit with the AER. However, in March 2016, Barnwell's LMR ratio exceeded 1.0 as a result of the AER's credit for recent abandonment work performed and some recent well production restarts and the cash deposit was refunded in April 2016. It is possible that Barnwell will have to transfer an additional well license which would necessitate an additional cash deposit with the AER and/or the implementation of a structured LLR Program Management Plan; management currently estimates that the total amount of the required deposits within the next 12-months could be $3,000,000 , however we cannot be certain of the ultimate amount. Due to the decline in oil and natural gas prices and related netbacks over the past year it is possible that the value of the Company’s deemed assets will further decline which in turn could dictate that the Company place a larger deposit with the AER than is currently estimated, although recent well production restarts may help to provide some offset to such declines. The requirement to provide security deposit funds to the AER in the future will result in the diversion of cash and cash flows that could otherwise be used to fund oil and natural gas reserve replacement efforts, which in turn will have a material adverse effect on our business, financial condition and results of operations. If Barnwell fails to comply with the requirements of the LLR program, Barnwell's oil and natural gas subsidiary would be subject to the AER's enforcement provisions which could include suspension of operations and non-compliance fees and could ultimately result in the AER serving the Company with a closure order to shut-in all operated wells. Additionally, if Barnwell is non-compliant, the Company would be prohibited from transferring well licenses which would prohibit us from selling any oil and natural gas assets until the required cash deposit is made with the AER. In April 2016, Kaupulehu 2007, LLLP ("Kaupulehu 2007") sold its remaining luxury residence for $5,700,000 and repaid the real estate loan in full from a portion of the proceeds. After the repayment of the real estate loan and distributions to minority interests, the Company netted approximately $1,500,000 in cash proceeds from the sale of the residence (see Notes 5 and 7). Additionally, in April 2016, KD Acquisition II, LLLP, which is part of the Kukio Resort land development partnerships in which the Company has an indirect ownership interest and an entity from which the Company has rights to receive percentage of sales payments, sold one ocean front parcel in Kaupulehu Increment II for $20,000,000 . As a result of the sale, the Company received a percentage of sale payment in the amount of $1,600,000 . The Company also received $5,320,000 in cash distributions from the Kukio Resort land development partnerships in April 2016 (see Note 6). Because of the combined impact of declines in oil and natural gas prices, declines in production due to oil and natural gas property sales, and increasing costs due to the age of Barnwell's properties, Barnwell's oil and natural gas segment is projected to have negative cash flow from operations at current prices and production levels. A portion of the recently received proceeds mentioned above will be needed in order to provide sufficient liquidity to fund our current cash needs including the aforementioned deposits with the AER, asset retirement obligations, retirement plan funding, and ongoing operating and general and administrative expenses, such that some or potentially all of the proceeds may not be available for reinvestment. Consequently, Barnwell is reliant upon future land investment segment proceeds from percentage of sales payments and any potential future cash distributions from the Kukio Resort land development partnerships, the timing of which is highly uncertain and out of our control, to fund operations and provide capital for reinvestment on a long term basis.

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	6 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
LOSS PER COMMON SHARE	LOSS PER COMMON SHARE Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share is calculated using the treasury stock method to reflect the assumed issuance of common shares for all potentially dilutive securities, which consist of outstanding stock options. Potentially dilutive shares are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive. Options to purchase 621,250 shares of common stock were excluded from the computation of diluted shares for the three and six months ended March 31, 2016 and 2015 , as their inclusion would have been antidilutive. Reconciliations between net loss attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net loss per share computations are detailed in the following tables: Three months ended March 31, 2016 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (1,608,000 ) 8,277,160 $ (0.19 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (1,608,000 ) 8,277,160 $ (0.19 ) Six months ended March 31, 2016 Net Loss Shares Per-Share Basic net loss per share $ (3,017,000 ) 8,277,160 $ (0.36 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (3,017,000 ) 8,277,160 $ (0.36 ) Three months ended March 31, 2015 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (2,017,000 ) 8,277,160 $ (0.24 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (2,017,000 ) 8,277,160 $ (0.24 ) Six months ended March 31, 2015 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (2,484,000 ) 8,277,160 $ (0.30 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (2,484,000 ) 8,277,160 $ (0.30 )

INVESTMENT HELD FOR SALE (Notes

INVESTMENT HELD FOR SALE (Notes)	6 Months Ended
	Mar. 31, 2016
Investment held for sale [Abstract]
INVESTMENT HELD FOR SALE	INVESTMENT HELD FOR SALE At March 31, 2016 , Kaupulehu 2007 owned one residential lot available for sale in the Lot 4A Increment I area located in the North Kona District of the island of Hawaii, north of Hualalai Resort at Historic Ka`upulehu, between the Queen Kaahumanu Highway and the Pacific Ocean. A second residential parcel was sold in October 2014 for $1,250,000 for a nominal loss which is included in "General and administrative" expenses in the Condensed Consolidated Statements of Operations for the six months ended March 31, 2015 .

REAL ESTATE HELD FOR SALE

REAL ESTATE HELD FOR SALE	6 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
REAL ESTATE HELD FOR SALE	REAL ESTATE HELD FOR SALE At March 31, 2016 , Kaupulehu 2007 also owned one luxury residence available for sale in Lot 4A Increment I. In April 2016, the residence was sold for $5,700,000 in gross proceeds, before commission and other closing costs, which is above the $5,132,000 book value of the residence at March 31, 2016 . This transaction will be recognized in the quarter ending June 30, 2016.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
INVESTMENTS	INVESTMENTS A summary of Barnwell’s investments is as follows: March 31, September 30, Investment in Kukio Resort land development partnerships $ 6,654,000 $ 6,238,000 Investment in leasehold land interest – Lot 4C 50,000 50,000 Total investments $ 6,704,000 $ 6,288,000 Investment in Kukio Resort land development partnerships On November 27, 2013, Barnwell, through a wholly-owned subsidiary, entered into two limited liability limited partnerships, KD Kona 2013 LLLP ("KD Kona") and KKM Makai, LLLP ("KKM Makai"), and indirectly acquired, through their ownership of interest in Kaupulehu Makai, LLLP ("Kaupulehu Makai"), a 19.6% non-controlling ownership interest in each of KD Kukio Resorts, LLLP, KD Maniniowali, LLLP and KD Kaupulehu, LLLP for $5,140,000 . These entities own certain real estate and development rights interests in the Kukio, Maniniowali and Kaupulehu portions of Kukio Resort, a private residential community on the Kona coast of the island of Hawaii, as well as Kukio Resort’s real estate sales office operations. KD Kaupulehu, LLLP, which is comprised of KD Acquisition, LLLP (“KD I”) and KD Acquisition II, LLLP (“KD II”), is the developer of Kaupulehu Lot 4A Increments I and II, the area in which Barnwell has interests in percentage of sales payments. Barnwell’s investment in these entities is accounted for using the equity method of accounting. The partnerships derive income from the sale of residential parcels as well as from commission on real estate sales by the real estate sales office. As of March 31, 2016 , 26 lots remained to be sold at Kaupulehu Increment I, two ocean front parcels in Kaupulehu Increment II were available for sale, of which one of the parcels was sold in April 2016, and one lot remained at Maniniowali. In April 2016, KD II, which is part of the Kukio Resort land development partnerships in which the Company has an indirect ownership interest, sold one ocean front parcel for $20,000,000 , as noted above. In addition, the Kukio Resort land development partnerships made a cash distribution to its partners of which Barnwell received its share totaling $5,320,000 in April 2016. The cash distribution received and the equity in income of affiliates related to the sale of the parcel will be recognized in the quarter ending June 30, 2016. Equity in income of affiliates was $253,000 and $416,000 for the three and six months ended March 31, 2016 , respectively, and $368,000 and $456,000 for the three and six months ended March 31, 2015 , respectively. The equity in the underlying net assets of the Kukio Resort land development partnerships exceeds the carrying value of the investment in affiliates by approximately $373,000 as of March 31, 2016 , which is attributable to differences in the value of capitalized development costs and a note receivable. The basis difference will be recognized as the partnerships sell lots and recognize the associated costs and sell memberships for the Kuki`o Golf and Beach Club for which the receivable relates. The basis difference adjustments of $4,000 and $17,000 for the three and six months ended March 31, 2016 , respectively, increased equity in income of affiliates, and the basis difference adjustments for the three and six months ended March 31, 2015 were inconsequential. Barnwell, as well as KD I, KD II and certain other owners of the partnerships, have jointly and severally executed a surety indemnification agreement. Bonds issued by the surety at March 31, 2016 totaled approximately $4,144,000 and relate to certain construction contracts of KD I. If any such performance bonds are called, we may be obligated to reimburse the issuer of the performance bond as Barnwell, KD I and certain other partners are jointly and severally liable, however we believe that it is remote that a material amount of any currently outstanding performance bonds will be called. Performance bonds do not have stated expiration dates. Rather, the performance bonds are released as the underlying performance is completed. As of March 31, 2016 , Barnwell’s maximum loss exposure as a result of its investment in the Kukio Resort land development partnerships was approximately $10,798,000 , consisting of the carrying value of the investment of $6,654,000 and $4,144,000 from the surety indemnification agreement of which we are jointly and severally liable. Summarized financial information for the Kukio Resort land development partnerships is as follows: Three months ended March 31, 2016 Three months ended March 31, 2015 Revenue $ 4,416,000 $ 6,081,000 Gross profit $ 2,097,000 $ 2,982,000 Net earnings $ 1,168,000 $ 2,143,000 Six months ended March 31, 2016 Six months ended March 31, 2015 Revenue $ 8,119,000 $ 10,707,000 Gross profit $ 3,454,000 $ 4,409,000 Net earnings $ 1,991,000 $ 2,563,000 Percentage of sales payments Kaupulehu Developments has the right to receive payments from KD I and KD II resulting from the sale of lots and/or residential units within approximately 870 acres of the Kaupulehu Lot 4A area by KD I and KD II in two increments (“Increment I” and “Increment II”) (see Note 15). The following table summarizes the Increment I percentage of sales payment revenues received from KD I. Three months ended Six months ended 2016 2015 2016 2015 Sale of interest in leasehold land: Proceeds $ 330,000 $ 950,000 $ 480,000 $ 2,150,000 Fees (46,000 ) (133,000 ) (67,000 ) (301,000 ) Revenues – sale of interest in leasehold land, net $ 284,000 $ 817,000 $ 413,000 $ 1,849,000 In April 2016, Kaupulehu Developments received a percentage of sales payment from KD II in the amount of $1,600,000 , representing 8% of the gross sales proceeds from the sale of one ocean front parcel in Increment II, which will be recognized in the quarter ending June 30, 2016. Investment in leasehold land interest - Lot 4C Kaupulehu Developments holds an interest in an area of approximately 1,000 acres of vacant leasehold land zoned conservation located adjacent to Lot 4A. The lease terminates in December 2025.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Mar. 31, 2016
Long-term Debt, Unclassified [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Canadian revolving credit facility On September 30, 2015, Barnwell’s revolving credit facility at Royal Bank of Canada was amended and reduced by the bank to $1,000,000 Canadian dollars, or U.S. $771,000 at the March 31, 2016 exchange rate, as a result of the sale of the Company's principal oil and natural gas property, Dunvegan, in September 2015. Barnwell repaid the credit facility in full in September 2015 from the proceeds of the disposition. Borrowings under this facility were U.S. $0 at March 31, 2016 and September 30, 2015. Issued letters of credit were $35,000 at March 31, 2016 . Upon the April 2016 review the credit facility was terminated. The termination was due to a tightening credit market for oil and natural gas companies due to current low oil and natural gas prices and reductions in Royal Bank of Canada's forecast of oil and natural gas prices which decreased their valuation of the Company's oil and natural gas assets pledged as security. In February 2015, Barnwell repaid $2,000,000 , representing a portion of the then outstanding borrowings under the Canadian revolving credit facility. During the three and six months ended March 31, 2015 , Barnwell realized a foreign currency transaction loss of $146,000 as a result of that repayment of U.S. dollar denominated debt using Canadian dollars. Real estate loan Barnwell, together with its real estate joint venture, Kaupulehu 2007, had a non-revolving real estate loan with a Hawaii bank. At March 31, 2016 and September 30, 2015, the balance of the real estate loan was $3,440,000 . In April 2016, the home collateralizing the loan was sold. In accordance with the terms of the loan agreement a portion of the proceeds from the sale were used to repay the real estate loan in full. The loan agreement contained provisions requiring us to maintain compliance with certain covenants including a consolidated debt service coverage ratio and a consolidated total liabilities to tangible net worth ratio. However, in June 2015, the bank suspended these financial covenants in exchange for an interest reserve account which had a balance of $181,000 and $242,000 at March 31, 2016 and September 30, 2015, respectively, and is included with other reserve account amounts in "Restricted cash" on the accompanying Condensed Consolidated Balance Sheets. After the real estate loan was repaid in April 2016, the restricted reserve account balances were released.

RETIREMENT PLANS

RETIREMENT PLANS	6 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
RETIREMENT PLANS	RETIREMENT PLANS Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees. Additionally, Barnwell sponsors a Supplemental Employee Retirement Plan (“SERP”), a noncontributory supplemental retirement benefit plan which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan, and a postretirement medical insurance benefits plan (“Postretirement Medical”) covering eligible U.S. employees. The following table details the components of net periodic benefit cost for Barnwell’s retirement plans: Pension Plan SERP Postretirement Medical Three months ended March 31, 2016 2015 2016 2015 2016 2015 Service cost $ 65,000 $ 77,000 $ 16,000 $ 16,000 $ — $ — Interest cost 91,000 91,000 20,000 20,000 14,000 13,000 Expected return on plan assets (112,000 ) (125,000 ) — — — — Amortization of prior service cost (credit) 1,000 2,000 (1,000 ) (1,000 ) — — Amortization of net actuarial loss (gain) 34,000 22,000 4,000 6,000 — (2,000 ) Net periodic benefit cost $ 79,000 $ 67,000 $ 39,000 $ 41,000 $ 14,000 $ 11,000 Pension Plan SERP Postretirement Medical Six months ended March 31, 2016 2015 2016 2015 2016 2015 Service cost $ 130,000 $ 128,000 $ 32,000 $ 31,000 $ — $ — Interest cost 182,000 178,000 40,000 38,000 28,000 26,000 Expected return on plan assets (224,000 ) (250,000 ) — — — — Amortization of prior service cost (credit) 2,000 3,000 (2,000 ) (2,000 ) — — Amortization of net actuarial loss (gain) 68,000 43,000 9,000 12,000 — (3,000 ) Net periodic benefit cost $ 158,000 $ 102,000 $ 79,000 $ 79,000 $ 28,000 $ 23,000 Barnwell contributed $350,000 to the Pension Plan during the six months ended March 31, 2016 and estimates that it will make further contributions of approximately $750,000 during the remainder of fiscal 2016. The SERP and Postretirement Medical plans are unfunded, and Barnwell funds benefits when payments are made. Barnwell does not expect to make any benefit payments under the Postretirement Medical plan during fiscal 2016 and expected payments under the SERP for fiscal 2016 are not material. Fluctuations in actual equity market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of loss before income taxes, after adjusting the loss for non-controlling interests, are as follows: Three months ended Six months ended 2016 2015 2016 2015 United States $ (682,000 ) $ (179,000 ) $ (1,408,000 ) $ (415,000 ) Canada (1,190,000 ) (1,449,000 ) (2,066,000 ) (1,769,000 ) $ (1,872,000 ) $ (1,628,000 ) $ (3,474,000 ) $ (2,184,000 ) The components of the income tax provision (benefit) are as follows: Three months ended Six months ended 2016 2015 2016 2015 Current $ (159,000 ) $ (350,000 ) $ (368,000 ) $ (347,000 ) Deferred (105,000 ) 739,000 (89,000 ) 647,000 $ (264,000 ) $ 389,000 $ (457,000 ) $ 300,000 In the second quarter of fiscal 2015, Barnwell determined that it was not more likely than not that all of our oil and natural gas deferred tax assets under Canadian tax law were realizable due to significant declines in oil and natural gas prices, which in turn restricted funds available for the oil and natural gas capital expenditures needed to replace production and abate declining reserves. As a result, the Company recorded a valuation allowance of $785,000 during the quarter ended March 31, 2015 for the portion of Canadian tax law deferred tax assets related to asset retirement obligations that may not be realizable. Included in the deferred income tax benefit for the three and six months ended March 31, 2016 , was a charge of $85,000 and $138,000 , respectively, for the additional valuation allowance necessary for the portion of Canadian tax law deferred tax assets that may not be realizable. Consolidated taxes do not bear a customary relationship to pretax results due primarily to the fact that the Company is taxed separately in Canada based on Canadian source operations and in the U.S. based on consolidated operations, Canadian income taxes are not estimated to have a future benefit as foreign tax credits or deductions for U.S. tax purposes, and U.S. consolidated net operating losses and other deferred tax assets under U.S. tax law are not estimated to have any future U.S. tax benefit. In addition, consolidated taxes include the aforementioned valuation allowances for a portion of deferred tax assets under Canadian tax law.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Barnwell operates the following segments: 1) acquiring, 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 Six months ended 2016 2015 2016 2015 Revenues: Oil and natural gas $ 621,000 $ 2,092,000 $ 1,469,000 $ 5,064,000 Land investment 284,000 817,000 413,000 1,849,000 Contract drilling 550,000 491,000 1,382,000 2,424,000 Other 47,000 76,000 89,000 154,000 Total before interest income 1,502,000 3,476,000 3,353,000 9,491,000 Interest income 20,000 16,000 22,000 33,000 Total revenues $ 1,522,000 $ 3,492,000 $ 3,375,000 $ 9,524,000 Depletion, depreciation, and amortization: Oil and natural gas $ 305,000 $ 772,000 $ 579,000 $ 1,655,000 Contract drilling 62,000 70,000 123,000 141,000 Other 24,000 26,000 51,000 51,000 Total depletion, depreciation, and amortization $ 391,000 $ 868,000 $ 753,000 $ 1,847,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ (698,000 ) $ (498,000 ) $ (863,000 ) $ (32,000 ) Land investment 284,000 817,000 413,000 1,849,000 Contract drilling (130,000 ) (51,000 ) 91,000 286,000 Other 23,000 50,000 38,000 103,000 Total operating profit (loss) (521,000 ) 318,000 (321,000 ) 2,206,000 Equity in income of affiliates: Land investment 253,000 368,000 416,000 456,000 General and administrative expenses (1,528,000 ) (2,104,000 ) (3,369,000 ) (4,379,000 ) Interest expense (33,000 ) (82,000 ) (66,000 ) (172,000 ) Interest income 20,000 16,000 22,000 33,000 Loss before income taxes $ (1,809,000 ) $ (1,484,000 ) $ (3,318,000 ) $ (1,856,000 )

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	6 Months Ended
	Mar. 31, 2016
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The changes in each component of accumulated other comprehensive (loss) income were as follows: Three months ended Six months ended 2016 2015 2016 2015 Foreign currency translation: Beginning accumulated foreign currency translation $ 663,000 $ 1,285,000 $ 819,000 $ 1,692,000 Change in cumulative translation adjustment before reclassifications 272,000 (918,000 ) 116,000 (1,325,000 ) Amounts reclassified from accumulated other comprehensive income — 146,000 — 146,000 Income taxes — — — — Net current period other comprehensive income (loss) 272,000 (772,000 ) 116,000 (1,179,000 ) Ending accumulated foreign currency translation 935,000 513,000 935,000 513,000 Retirement plans: Beginning accumulated retirement plans benefit cost (2,902,000 ) (1,924,000 ) (2,941,000 ) (1,950,000 ) Amortization of net actuarial loss and prior service cost 38,000 27,000 77,000 53,000 Income taxes — — — — Net current period other comprehensive income 38,000 27,000 77,000 53,000 Ending accumulated retirement plans benefit cost (2,864,000 ) (1,897,000 ) (2,864,000 ) (1,897,000 ) Accumulated other comprehensive loss, net of taxes $ (1,929,000 ) $ (1,384,000 ) $ (1,929,000 ) $ (1,384,000 ) The realized foreign currency transaction loss related to the repayment of debt during the six months ended March 31, 2015 was reclassified from accumulated other comprehensive loss to general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations. The amortization of accumulated other comprehensive loss components for the retirement plans are included in the computation of net periodic benefit cost which is a component of "General and administrative" expenses on the accompanying Condensed Consolidated Statements of Operations (see Note 8 for additional details).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The carrying values of cash and cash equivalents, restricted cash, accounts and other receivables, accounts payable and accrued current liabilities approximate their fair values due to the short-term nature of the instruments. The carrying value of long-term debt approximates fair value as the terms approximate current market terms for similar debt instruments of comparable risk and maturities.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental Matters In January 2015, there was an oil and salt water release from one of our operated oil pipelines in Alberta, Canada. We have estimated that probable environmental remediation costs will be approximately $2,300,000 . Barnwell’s working interest in the well is 58% , and we have recovered substantially all of the monies from the other working interest owners for their share of the costs. Additionally, we have filed a claim under our insurance policy, which has a deductible of approximately $80,000 , and as of March 31, 2016 , we have collected $1,103,000 in insurance proceeds. The estimated remaining unpaid liability for the release as of March 31, 2016 and September 30, 2015 was $77,000 and $75,000 , respectively, and has not been discounted and was accrued in "Accrued operating and other expenses" on the Condensed Consolidated Balance Sheets. In February 2016, a gas leak was detected at one of our previously abandoned non-operated wells in Alberta, Canada. We have estimated that probable environmental remediation costs will be within the range of $400,000 to $800,000 . Barnwell’s working interest in the well is 50% , and accordingly we have accrued approximately $200,000 at March 31, 2016 , which has not been discounted and was accrued in "Accrued operating and other expenses" on the Condensed Consolidated Balance Sheets. Because of the inherent uncertainties associated with environmental assessment and remediation activities, future expenses to remediate the currently identified sites, and sites identified in the future, if any, could be incurred. Guarantee See Note 6 for a discussion of Barnwell’s guarantee of the Kukio Resort land development partnership’s performance bonds.

INFORMATION RELATING TO THE CON

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	6 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS	INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the year for: Interest $ 64,000 $ 164,000 Supplemental disclosure of non-cash investing and financing activities: Release of restricted cash held in escrow for tax installment $ 2,000,000 $ — Note receivable for sale of investment $ — $ 907,000 Capital expenditure accruals related to oil and natural gas exploration and development decreased $69,000 and increased $295,000 during the six months ended March 31, 2016 and 2015 , respectively. Additionally, capital expenditure accruals related to oil and natural gas asset retirement obligations increased $123,000 and $938,000 during the six months ended March 31, 2016 and 2015 , respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Kaupulehu Developments is entitled to receive a percentage of the gross receipts from the sales of lots in Increment I from KD I and the sales of lots and/or residential units in Increment II from KD II; KD I and KD II are part of the Kukio Resort land development partnerships in which Barnwell holds an indirect 19.6% non-controlling ownership interest accounted for under the equity method of investment. The percentage payments are part of transactions which took place in 2004 and 2006 where Kaupulehu Developments sold its leasehold interests in Increment I and Increment II to KD I's and KD II's predecessors in interest, respectively, which was prior to Barnwell’s affiliation with KD I and KD II which commenced on November 27, 2013, the acquisition date of our ownership interest in the Kukio Resort land development partnerships. During the six months ended March 31, 2016 , Barnwell received $480,000 in percentage of sales payments from KD I from the sale of two lots within Phase II of Increment I. During the six months ended March 31, 2015 , Barnwell received $2,150,000 in percentage of sales payments from KD I from the sale of six contiguous lots within Phase I of Increment I to a single buyer and five lots within Phase II of Increment I.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In April 2016, Kaupulehu 2007 sold the luxury residence that was held for sale for $5,700,000 and repaid the real estate loan in full (see Notes 5 and 7). In April 2016, Barnwell received a cash distribution in the amount of $5,320,000 from the Kukio Resort land development partnerships (see Note 6). In April 2016, Kaupulehu Developments received a percentage of sales payment of $1,600,000 from the sale of one ocean front parcel within Increment II (see Note 6). Financial results from these transactions will be reflected in Barnwell’s quarter ending June 30, 2016.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6% -owned land investment general partnership (Kaupulehu Developments), a 75% -owned land investment partnership (KD Kona 2013 LLLP) and two 80%-owned joint ventures (Kaupulehu 2007, LLLP and Kaupulehu Investors, LLC). All significant intercompany accounts and transactions have been eliminated. Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2015 Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of September 30, 2015 has been derived from audited consolidated financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2016 , results of operations, comprehensive loss, and equity for the three and six months ended March 31, 2016 and 2015 , and cash flows for the six months ended March 31, 2016 and 2015 , have been made. The results of operations for the period ended March 31, 2016 are not necessarily indicative of the operating results for the full year.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This ASU relates to discontinued operations reporting for disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on an entity’s operations and financial results. The standard expands the disclosures for discontinued operations and requires new disclosures related to individually material disposals that do not meet the definition of a discontinued operation. The Company adopted the provisions of this ASU effective October 1, 2015. The adoption of this update did not have a material impact on Barnwell’s consolidated financial statements.

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Reconciliations between net loss attributable to the entity's stockholders and common shares outstanding of the basic and diluted net loss per share computations	Reconciliations between net loss attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net loss per share computations are detailed in the following tables: Three months ended March 31, 2016 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (1,608,000 ) 8,277,160 $ (0.19 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (1,608,000 ) 8,277,160 $ (0.19 ) Six months ended March 31, 2016 Net Loss Shares Per-Share Basic net loss per share $ (3,017,000 ) 8,277,160 $ (0.36 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (3,017,000 ) 8,277,160 $ (0.36 ) Three months ended March 31, 2015 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (2,017,000 ) 8,277,160 $ (0.24 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (2,017,000 ) 8,277,160 $ (0.24 ) Six months ended March 31, 2015 Net Loss (Numerator) Shares (Denominator) Per-Share Amount Basic net loss per share $ (2,484,000 ) 8,277,160 $ (0.30 ) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (2,484,000 ) 8,277,160 $ (0.30 )

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
Summary of investments	A summary of Barnwell’s investments is as follows: March 31, September 30, Investment in Kukio Resort land development partnerships $ 6,654,000 $ 6,238,000 Investment in leasehold land interest – Lot 4C 50,000 50,000 Total investments $ 6,704,000 $ 6,288,000
Summarized financial information for the land development partnerships	Summarized financial information for the Kukio Resort land development partnerships is as follows: Three months ended March 31, 2016 Three months ended March 31, 2015 Revenue $ 4,416,000 $ 6,081,000 Gross profit $ 2,097,000 $ 2,982,000 Net earnings $ 1,168,000 $ 2,143,000 Six months ended March 31, 2016 Six months ended March 31, 2015 Revenue $ 8,119,000 $ 10,707,000 Gross profit $ 3,454,000 $ 4,409,000 Net earnings $ 1,991,000 $ 2,563,000
Kaupulehu Developments
INVESTMENTS
Summary of Increment I percentage of sales payment revenues received	The following table summarizes the Increment I percentage of sales payment revenues received from KD I. Three months ended Six months ended 2016 2015 2016 2015 Sale of interest in leasehold land: Proceeds $ 330,000 $ 950,000 $ 480,000 $ 2,150,000 Fees (46,000 ) (133,000 ) (67,000 ) (301,000 ) Revenues – sale of interest in leasehold land, net $ 284,000 $ 817,000 $ 413,000 $ 1,849,000

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	6 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of components of net periodic benefit cost	The following table details the components of net periodic benefit cost for Barnwell’s retirement plans: Pension Plan SERP Postretirement Medical Three months ended March 31, 2016 2015 2016 2015 2016 2015 Service cost $ 65,000 $ 77,000 $ 16,000 $ 16,000 $ — $ — Interest cost 91,000 91,000 20,000 20,000 14,000 13,000 Expected return on plan assets (112,000 ) (125,000 ) — — — — Amortization of prior service cost (credit) 1,000 2,000 (1,000 ) (1,000 ) — — Amortization of net actuarial loss (gain) 34,000 22,000 4,000 6,000 — (2,000 ) Net periodic benefit cost $ 79,000 $ 67,000 $ 39,000 $ 41,000 $ 14,000 $ 11,000 Pension Plan SERP Postretirement Medical Six months ended March 31, 2016 2015 2016 2015 2016 2015 Service cost $ 130,000 $ 128,000 $ 32,000 $ 31,000 $ — $ — Interest cost 182,000 178,000 40,000 38,000 28,000 26,000 Expected return on plan assets (224,000 ) (250,000 ) — — — — Amortization of prior service cost (credit) 2,000 3,000 (2,000 ) (2,000 ) — — Amortization of net actuarial loss (gain) 68,000 43,000 9,000 12,000 — (3,000 ) Net periodic benefit cost $ 158,000 $ 102,000 $ 79,000 $ 79,000 $ 28,000 $ 23,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests	The components of loss before income taxes, after adjusting the loss for non-controlling interests, are as follows: Three months ended Six months ended 2016 2015 2016 2015 United States $ (682,000 ) $ (179,000 ) $ (1,408,000 ) $ (415,000 ) Canada (1,190,000 ) (1,449,000 ) (2,066,000 ) (1,769,000 ) $ (1,872,000 ) $ (1,628,000 ) $ (3,474,000 ) $ (2,184,000 )
Schedule of components of the income tax provision (benefit)	The components of the income tax provision (benefit) are as follows: Three months ended Six months ended 2016 2015 2016 2015 Current $ (159,000 ) $ (350,000 ) $ (368,000 ) $ (347,000 ) Deferred (105,000 ) 739,000 (89,000 ) 647,000 $ (264,000 ) $ 389,000 $ (457,000 ) $ 300,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of financial information related to reporting segments	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 Six months ended 2016 2015 2016 2015 Revenues: Oil and natural gas $ 621,000 $ 2,092,000 $ 1,469,000 $ 5,064,000 Land investment 284,000 817,000 413,000 1,849,000 Contract drilling 550,000 491,000 1,382,000 2,424,000 Other 47,000 76,000 89,000 154,000 Total before interest income 1,502,000 3,476,000 3,353,000 9,491,000 Interest income 20,000 16,000 22,000 33,000 Total revenues $ 1,522,000 $ 3,492,000 $ 3,375,000 $ 9,524,000 Depletion, depreciation, and amortization: Oil and natural gas $ 305,000 $ 772,000 $ 579,000 $ 1,655,000 Contract drilling 62,000 70,000 123,000 141,000 Other 24,000 26,000 51,000 51,000 Total depletion, depreciation, and amortization $ 391,000 $ 868,000 $ 753,000 $ 1,847,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ (698,000 ) $ (498,000 ) $ (863,000 ) $ (32,000 ) Land investment 284,000 817,000 413,000 1,849,000 Contract drilling (130,000 ) (51,000 ) 91,000 286,000 Other 23,000 50,000 38,000 103,000 Total operating profit (loss) (521,000 ) 318,000 (321,000 ) 2,206,000 Equity in income of affiliates: Land investment 253,000 368,000 416,000 456,000 General and administrative expenses (1,528,000 ) (2,104,000 ) (3,369,000 ) (4,379,000 ) Interest expense (33,000 ) (82,000 ) (66,000 ) (172,000 ) Interest income 20,000 16,000 22,000 33,000 Loss before income taxes $ (1,809,000 ) $ (1,484,000 ) $ (3,318,000 ) $ (1,856,000 )

ACCUMULATED OTHER COMPREHENSI32

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	6 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of changes in each component of accumulated other comprehensive (loss) income	The changes in each component of accumulated other comprehensive (loss) income were as follows: Three months ended Six months ended 2016 2015 2016 2015 Foreign currency translation: Beginning accumulated foreign currency translation $ 663,000 $ 1,285,000 $ 819,000 $ 1,692,000 Change in cumulative translation adjustment before reclassifications 272,000 (918,000 ) 116,000 (1,325,000 ) Amounts reclassified from accumulated other comprehensive income — 146,000 — 146,000 Income taxes — — — — Net current period other comprehensive income (loss) 272,000 (772,000 ) 116,000 (1,179,000 ) Ending accumulated foreign currency translation 935,000 513,000 935,000 513,000 Retirement plans: Beginning accumulated retirement plans benefit cost (2,902,000 ) (1,924,000 ) (2,941,000 ) (1,950,000 ) Amortization of net actuarial loss and prior service cost 38,000 27,000 77,000 53,000 Income taxes — — — — Net current period other comprehensive income 38,000 27,000 77,000 53,000 Ending accumulated retirement plans benefit cost (2,864,000 ) (1,897,000 ) (2,864,000 ) (1,897,000 ) Accumulated other comprehensive loss, net of taxes $ (1,929,000 ) $ (1,384,000 ) $ (1,929,000 ) $ (1,384,000 )

INFORMATION RELATING TO THE C33

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	6 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Six months ended 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the year for: Interest $ 64,000 $ 164,000 Supplemental disclosure of non-cash investing and financing activities: Release of restricted cash held in escrow for tax installment $ 2,000,000 $ — Note receivable for sale of investment $ — $ 907,000

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Mar. 31, 2016venture
Principles of Consolidation
Number of 80%-owned joint ventures	2
Kaupulehu Developments
Principles of Consolidation
Ownership interest in subsidiaries	77.60%
KD Kona 2013 LLLP
Principles of Consolidation
Ownership interest in subsidiaries	75.00%
Kaupulehu 2007, LLLP
Principles of Consolidation
Ownership interest in subsidiaries	80.00%
Kaupulehu Investors, LLC
Principles of Consolidation
Ownership interest in subsidiaries	80.00%

LIQUIDITY - OIL & NATURAL GAS P

LIQUIDITY - OIL & NATURAL GAS PROPERTIES (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 16, 2015
Oil and Natural Gas Properties [Line Items]
Release of restricted escrow cash for tax installment		$ 2,000,000	$ 0
Release of funds held in escrow		(4,957,000)	$ 0
Income taxes receivable	$ 2,537,000	$ 2,537,000		$ 82,000
Minimum required LMR ratio	100.00%	100.00%
AER Cash Deposit	$ 142,000	$ 142,000
Expected AER cash deposit required	3,000,000	3,000,000
Oil and Gas Properties | Dunvegan area of Alberta
Oil and Natural Gas Properties [Line Items]
Sales price per the Purchase and Sale Agreement					$ 14,162,000
Release of restricted escrow cash for tax installment	2,000,000
Release of funds held in escrow	4,957,000
Income taxes receivable	$ 2,537,000	$ 2,537,000

LIQUIDITY - CREDIT FACILITY(Det

LIQUIDITY - CREDIT FACILITY(Details) - Mar. 31, 2016	CAD	USD ($)
Canadian revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	CAD 1,000,000	$ 771,000

LIQUIDITY - REAL ESTATE AND LAN

LIQUIDITY - REAL ESTATE AND LAND INVESTMENT (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2016USD ($)lot	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Kaupulehu Developments
Investment Holdings [Line Items]
Percentage of sales payment received		$ 330	$ 950	$ 480	$ 2,150
Subsequent Event | Investment in land development partnerships
Investment Holdings [Line Items]
Number of single family lots sold | lot	1
Gross proceeds from sale of lot by equity investee	$ 20,000
Proceeds from equity method investment, dividends or distributions	5,320
Subsequent Event | Kaupulehu 2007, LLLP
Investment Holdings [Line Items]
Proceeds from sale of real estate	5,700
Net Cash Received On Sale Of Real Estate	$ 1,500
Subsequent Event | Kaupulehu Developments | Increment II
Investment Holdings [Line Items]
Number of single family lots sold | lot	1
Percentage of sales payment received	$ 1,600

LOSS PER COMMON SHARE (Details)

LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net Loss (Numerator)
Basic	$ (1,608)	$ (2,017)	$ (3,017)	$ (2,484)
Effect of dilutive securities - common stock options	0	0	0	0
Diluted	$ (1,608)	$ (2,017)	$ (3,017)	$ (2,484)
Shares (Denominator)
Basic (in shares)	8,277,160	8,277,160	8,277,160	8,277,160
Effect of dilutive securities - common stock options (in shares)	0	0	0	0
Diluted (in shares)	8,277,160	8,277,160	8,277,160	8,277,160
Per-Share Amount
Basic net loss per share (in dollars per share)	$ (0.19)	$ (0.24)	$ (0.36)	$ (0.30)
Diluted net loss per share (in dollars per share)	$ (0.19)	$ (0.24)	$ (0.36)	$ (0.30)
Options
Antidilutive shares of common stock excluded from the computation of diluted shares
Antidilutive shares excluded from computation of loss per share (in shares)			621,250	621,250

INVESTMENT HELD FOR SALE (Detai

INVESTMENT HELD FOR SALE (Details) - Residential Parcel $ in Thousands	Mar. 31, 2016parcel	Oct. 31, 2014USD ($)
Investment Holdings [Line Items]
Number of Real Estate Properties | parcel	1
Proceeds from sale of residential parcel | $		$ 1,250

REAL ESTATE HELD FOR SALE (Deta

REAL ESTATE HELD FOR SALE (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2016USD ($)	Mar. 31, 2016USD ($)home	Sep. 30, 2015USD ($)
Real estate held for sale
Real estate held for sale		$ 5,132	$ 5,132
Kaupulehu 2007, LLLP
Real estate held for sale
Number of luxury residences owned | home		1
Real estate held for sale		$ 5,132
Kaupulehu 2007, LLLP | Subsequent Event
Real estate held for sale
Proceeds from sale of real estate	$ 5,700

INVESTMENTS - SUMMARY OF INVEST

INVESTMENTS - SUMMARY OF INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Sep. 30, 2015
Investment Holdings [Line Items]
Investments	$ 6,704	$ 6,288
Investment in land development partnerships
Investment Holdings [Line Items]
Investments	6,654	6,238
Investment in leasehold land interest - Lot 4C
Investment Holdings [Line Items]
Investments	$ 50	$ 50

INVESTMENTS - LAND DEVELOPMENT

INVESTMENTS - LAND DEVELOPMENT PARTNERSHIPS (Details) $ in Thousands	Nov. 27, 2013USD ($)partnership	Apr. 30, 2016USD ($)lot	Mar. 31, 2016USD ($)lot	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)lot	Mar. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Investment Holdings [Line Items]
Equity in income of affiliates			$ 253	$ 368	$ 416	$ 456
Investments			6,704		6,704		$ 6,288
Investment in land development partnerships
Investment Holdings [Line Items]
Number of limited liability limited partnerships formed | partnership	2
Difference between carrying amount and underlying equity			373		373
Basis difference adjustment			4		17
Bonds issued by the surety			4,144		4,144
Maximum loss exposure			10,798		10,798
Investments			6,654		6,654		$ 6,238
Revenue			4,416	6,081	8,119	10,707
Gross profit			2,097	2,982	3,454	4,409
Net earnings (loss)			$ 1,168	$ 2,143	$ 1,991	$ 2,563
Subsequent Event | Investment in land development partnerships
Investment Holdings [Line Items]
Number of single family lots sold | lot		1
Gross proceeds from sale of lot by equity investee		$ 20,000
Proceeds from equity method investment, dividends or distributions		$ 5,320
K D Kukio Resorts L L L P | Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
K D Maniniowali L L L P | Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Kaupulehu, LLLP | Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
Indirectly Acquired Interest | Investment in land development partnerships
Investment Holdings [Line Items]
Aggregate cost	$ 5,140
KD Kaupulehu LLLP Increment I | Investment in land development partnerships
Investment Holdings [Line Items]
Number of residential lots remaining to be sold | lot			26		26
KD Kaupulehu LLLP Increment II | Investment in land development partnerships
Investment Holdings [Line Items]
Number of residential lots remaining to be sold | lot			2		2
K D Maniniowali L L L P | Investment in land development partnerships
Investment Holdings [Line Items]
Number of residential lots remaining to be sold | lot			1		1
Increment II | Kaupulehu Developments | Subsequent Event
Investment Holdings [Line Items]
Number of single family lots sold | lot		1

INVESTMENTS - PERCENTAGE OF SAL

INVESTMENTS - PERCENTAGE OF SALES PAYMENTS (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2016USD ($)lot	Mar. 31, 2016USD ($)aincrement	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)a	Mar. 31, 2015USD ($)
Investment Holdings [Line Items]
Sale of interest in leasehold land, net		$ 284	$ 817	$ 413	$ 1,849
Kaupulehu Developments
Investment Holdings [Line Items]
Area of land (in acres) | a		870		870
Number of development increments | increment		2
Fees Related to Sale of Interest in Leasehold Land		$ (46)	(133)	$ (67)	(301)
Sale of interest in leasehold land, net		284	817	413	1,849
Percentage of sales payment received		$ 330	$ 950	$ 480	$ 2,150
Land Interest
Investment Holdings [Line Items]
Area of land (in acres) | a		1,000		1,000
Increment II | Subsequent Event | Kaupulehu Developments
Investment Holdings [Line Items]
Percentage of sales payment received	$ 1,600
Percentage of gross proceeds	8.00%
Number of single family lots sold | lot	1

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details)	1 Months Ended	6 Months Ended
	Feb. 28, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016CAD	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)
Long-term debt
Foreign currency transaction loss		$ 0	$ (146,000)
Canadian revolving credit facility
Long-term debt
Long-term debt					$ 0	$ 0
Letters of Credit Outstanding, Amount					35,000
Maximum borrowing capacity				CAD 1,000,000	771,000
Repayments of lines of credit	$ 2,000,000
Foreign currency transaction loss			$ 146,000
Real estate loan
Long-term debt
Long-term debt					3,440,000	3,440,000
Restricted Cash and Investments					$ 181,000	$ 242,000

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Pension Plan
Net periodic benefit cost:
Service cost	$ 65	$ 77	$ 130	$ 128
Interest cost	91	91	182	178
Expected return on plan assets	(112)	(125)	(224)	(250)
Amortization of prior service cost (credit)	1	2	2	3
Amortization of net actuarial loss (gain)	34	22	68	43
Net periodic benefit cost	79	67	158	102
Other disclosures
Contribution by the entity to the Pension Plan			350
Estimated future employer contributions			750
SERP
Net periodic benefit cost:
Service cost	16	16	32	31
Interest cost	20	20	40	38
Amortization of prior service cost (credit)	(1)	(1)	(2)	(2)
Amortization of net actuarial loss (gain)	4	6	9	12
Net periodic benefit cost	39	41	79	79
Postretirement Medical
Net periodic benefit cost:
Service cost	0	0	0	0
Interest cost	14	13	28	26
Amortization of prior service cost (credit)	0	0	0	0
Amortization of net actuarial loss (gain)	0	(2)	0	(3)
Net periodic benefit cost	$ 14	$ 11	$ 28	$ 23

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests
United States	$ (682)	$ (179)	$ (1,408)	$ (415)
Canada	(1,190)	(1,449)	(2,066)	(1,769)
Total	(1,872)	(1,628)	(3,474)	(2,184)
Components of the income tax provision (benefit)
Current	(159)	(350)	(368)	(347)
Deferred	(105)	739	(89)	647
Total	(264)	389	(457)	$ 300
Foreign Tax Authority
Components of the income tax provision (benefit)
Increase in valuation allowance, amount	$ 85	$ 785	$ 138

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Revenues	$ 1,502	$ 3,476	$ 3,353	$ 9,491
Interest income	20	16	22	33
Total revenues	1,522	3,492	3,375	9,524
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	391	868	753	1,847
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss)	(521)	318	(321)	2,206
Equity in income of affiliates:
Equity in income of affiliates	253	368	416	456
General and administrative expenses	(1,528)	(2,104)	(3,369)	(4,379)
Interest expense	(33)	(82)	(66)	(172)
Interest income	20	16	22	33
Loss before income taxes	(1,809)	(1,484)	(3,318)	(1,856)
Oil and natural gas
Revenues:
Revenues	621	2,092	1,469	5,064
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	305	772	579	1,655
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss)	(698)	(498)	(863)	(32)
Land investment
Revenues:
Revenues	284	817	413	1,849
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss)	284	817	413	1,849
Contract drilling
Revenues:
Revenues	550	491	1,382	2,424
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	62	70	123	141
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss)	(130)	(51)	91	286
Other
Revenues:
Revenues	47	76	89	154
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	24	26	51	51
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss)	$ 23	$ 50	$ 38	$ 103

ACCUMULATED OTHER COMPREHENSI48

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015
Changes in foreign currency translation
Beginning accumulated foreign currency translation	$ 663	$ 1,285	$ 819	$ 1,692
Change in cumulative translation adjustment before reclassifications	272	(918)	116	(1,325)
Amounts reclassified from accumulated other comprehensive income	0	146	0	146
Income taxes	0	0	0	0
Net current period other comprehensive income (loss)	272	(772)	116	(1,179)
Ending accumulated foreign currency translation	935	513	935	513
Changes in retirement plans
Beginning accumulated retirement plans benefit cost	(2,902)	(1,924)	(2,941)	(1,950)
Amortization of net actuarial loss and prior service cost	38	27	77	53
Income taxes	0	0	0	0
Net current period other comprehensive income	38	27	77	53
Ending accumulated retirement plans benefit cost	(2,864)	(1,897)	(2,864)	(1,897)
Accumulated other comprehensive loss, net of taxes	$ (1,929)	$ (1,384)	$ (1,929)	$ (1,384)	$ (2,122)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Oil pipeline release
Oil and Natural Gas Properties [Line Items]
Estimate of probable loss	$ 2,300
Percentage of working interest	58.00%
Insurance deductible	$ 80
Insurance Recoveries	1,103
Loss contingency accrual	$ 77	$ 75
Gas leak
Oil and Natural Gas Properties [Line Items]
Percentage of working interest	50.00%
Loss contingency accrual	$ 200
Range of possible loss, minimum	400
Range of possible loss, maximum	$ 800

INFORMATION RELATING TO THE C50

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental disclosure of cash flow information:
Interest	$ 64	$ 164
Supplemental disclosure of non-cash investing and financing activities:
Note receivable for sale of investment	0	907
Release of restricted escrow cash for tax installment	2,000	0
Oil and natural gas
Supplemental disclosures of cash flow information:
Increase (Decrease) in capital expenditure accruals related to oil and natural gas exploration and development	(69)	295
Increase (Decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	$ 123	$ 938

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Kaupulehu Developments $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)lot	Mar. 31, 2015USD ($)lot
Related party transactions
Percentage of sales payment received | $	$ 330	$ 950	$ 480	$ 2,150
KD Kaupulehu, LLLP | Investment in land development partnerships
Related party transactions
Ownership interest acquired	19.60%		19.60%
Percentage of sales payment received | $			$ 480	$ 2,150
KD Kaupulehu, LLLP | Investment in land development partnerships | increment I | Phase II
Related party transactions
Number of single family lots sold | lot			2	5
KD Kaupulehu, LLLP | Investment in land development partnerships | increment I | Phase I
Related party transactions
Number of single family lots sold | lot				6

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2016USD ($)lot	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Kaupulehu Developments
Subsequent events
Percentage of sales payment received		$ 330	$ 950	$ 480	$ 2,150
Subsequent Event | Investment in land development partnerships
Subsequent events
Proceeds from equity method investment, dividends or distributions	$ 5,320
Number of single family lots sold | lot	1
Subsequent Event | Kaupulehu 2007, LLLP
Subsequent events
Proceeds from sale of real estate	$ 5,700
Subsequent Event | Increment II | Kaupulehu Developments
Subsequent events
Percentage of sales payment received	$ 1,600
Number of single family lots sold | lot	1