Barnwell Industries (BRN) 10-K 21 Dec 21 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Dec. 10, 2021	Mar. 31, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-5103
Entity Registrant Name	BARNWELL INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-0496921
Entity Address, Address Line One	1100 Alakea Street
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813-2840
City Area Code	808
Local Phone Number	531-8400
Title of 12(b) Security	Common Stock, $0.50 par value
Trading Symbol	BRN
Security Exchange Name	NYSEAMER
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 9,903
Entity Common Stock, Shares Outstanding		9,445,625
Documents Incorporated by Reference	Proxy statement, to be forwarded to stockholders on or about January 14, 2022, is incorporated by reference in Part III hereof.
Entity Central Index Key	0000010048
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--09-30

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 11,279	$ 4,584
Accounts and other receivables, net of allowance for doubtful accounts of: $391,000 at September 30, 2021; $341,000 at September 30, 2020	3,069	2,176
Income taxes receivable	530	472
Assets held for sale	687	699
Other current assets	2,470	1,556
Total current assets	18,035	9,487
Asset for retirement benefits	2,229	771
Investments	0	901
Operating lease right-of-use assets	296	249
Oil and natural gas properties, full cost method of accounting:
Proved properties, net	2,423	2,303
Unproved properties	962	0
Total oil and natural gas properties, net	3,385	2,303
Drilling rigs and other property and equipment, net	490	1,471
Total assets	24,435	15,182
Current liabilities:
Accounts payable	1,416	2,104
Accrued capital expenditures	909	542
Accrued compensation	1,073	408
Accrued operating and other expenses	1,171	1,325
Current portion of asset retirement obligation	713	647
Other current liabilities	619	1,338
Total current liabilities	5,901	6,364
Long-term debt	47	58
Operating lease liabilities	180	143
Liability for retirement benefits	2,101	4,829
Asset retirement obligation	6,340	5,547
Deferred income tax liabilities	359	194
Total liabilities	14,928	17,135
Commitments and contingencies (Note 18)
Equity:
Common stock, par value $0.50 per share; authorized, 20,000,000 shares: 9,613,525 issued at September 30, 2021; 8,445,060 issued at September 30, 2020	4,807	4,223
Additional paid-in capital	4,590	1,350
Retained earnings (accumulated deficit)	2,356	(3,897)
Accumulated other comprehensive income (loss), net	32	(1,435)
Treasury stock, at cost: 167,900 shares at September 30, 2021 and 2020	(2,286)	(2,286)
Total stockholders’ equity (deficit)	9,499	(2,045)
Non-controlling interests	8	92
Total equity (deficit)	9,507	(1,953)
Total liabilities and equity	$ 24,435	$ 15,182

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, authorized shares (in shares)	20,000,000	20,000,000
Common stock, issued shares (in shares)	9,613,525	8,445,060
Treasury stock, shares (in shares)	167,900	167,900
Accounts receivable, allowance for doubtful accounts	$ 391	$ 341

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues	$ 18,113	$ 18,347
Costs and expenses:
General and administrative	7,088	5,820
Depletion, depreciation, and amortization	963	2,147
Impairment of assets	668	4,376
Interest expense	13	3
Gain on debt extinguishment	(149)	0
Gain on termination of post-retirement medical plan	(2,341)	0
Gain on sale of assets	(1,982)	(1,336)
Total costs and expenses	16,371	23,373
Earnings (loss) before equity in income of affiliates and income taxes	1,742	(5,026)
Equity in income of affiliates	5,793	352
Earnings (loss) before income taxes	7,535	(4,674)
Income tax provision	332	3
Net earnings (loss)	7,203	(4,677)
Less: Net earnings attributable to non-controlling interests	950	79
Net earnings (loss) attributable to Barnwell Industries, Inc. stockholders	$ 6,253	$ (4,756)
Basic net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.73	$ (0.57)
Diluted net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.73	$ (0.57)
Weighted-average number of common shares outstanding:
Basic (in shares)	8,592,154	8,277,160
Diluted (in shares)	8,592,154	8,277,160
Oil and natural gas
Revenues:
Revenues	$ 10,254	$ 6,693
Costs and expenses:
Costs and expenses	6,556	4,850
Depletion, depreciation, and amortization	645	1,747
Impairment of assets	630	4,326
Contract drilling
Revenues:
Revenues	5,809	10,994
Costs and expenses:
Costs and expenses	5,555	7,513
Depletion, depreciation, and amortization	305	356
Impairment of assets	38	0
Sale of interest in leasehold land
Revenues:
Revenues	1,738	325
Costs and expenses:
Impairment of assets	0	50
Gas processing and other
Revenues:
Revenues	312	335
Costs and expenses:
Depletion, depreciation, and amortization	$ 13	$ 44

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Net earnings (loss)	$ 7,203	$ (4,677)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes of $0	(283)	(146)
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	101	120
Net actuarial gain (loss) arising during the period, net of taxes of $0	1,108	(218)
Curtailment gain and gain on termination of post-retirement medical plan, net of taxes of $0	541	1,726
Total other comprehensive income	1,467	1,482
Total comprehensive income (loss)	8,670	(3,195)
Less: Comprehensive income attributable to non-controlling interests	(950)	(79)
Comprehensive income (loss) attributable to Barnwell Industries, Inc.	7,720	(3,274)
Pension Plan And Supplemental Employee Retirement Plan
Retirement plans:
Curtailment gain and gain on termination of post-retirement medical plan, net of taxes of $0	0	1,726
Post-retirement Medical
Retirement plans:
Curtailment gain and gain on termination of post-retirement medical plan, net of taxes of $0	$ 541	$ 0

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Foreign currency translation adjustments, taxes	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	0	0
Net actuarial gain (loss) arising during the period, taxes	0	0
Curtailment gain and gain on termination of post-retirement medical plan, taxes	0	0
Pension Plan And Supplemental Employee Retirement Plan
Curtailment gain and gain on termination of post-retirement medical plan, taxes	0	0
Post-retirement Medical
Curtailment gain and gain on termination of post-retirement medical plan, taxes	$ 0	$ 0

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-controlling Interests
Balance at Sep. 30, 2019	$ 1,329	$ 4,223	$ 1,350	$ 859	$ (2,917)	$ (2,286)	$ 100
Balance (in shares) at Sep. 30, 2019		8,277,160
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	(4,677)			(4,756)			79
Foreign currency translation adjustments, net of taxes of $0	(146)				(146)
Distributions to non-controlling interests	(87)						(87)
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	120				120
Net actuarial gain (loss) arising during the period, net of taxes of $0	(218)				(218)
Curtailment gain and gain on termination of post-retirement medical plan, net of taxes of $0	1,726				1,726
Balance at Sep. 30, 2020	(1,953)	$ 4,223	1,350	(3,897)	(1,435)	(2,286)	92
Balance (in shares) at Sep. 30, 2020		8,277,160
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	7,203			6,253			950
Foreign currency translation adjustments, net of taxes of $0	(283)				(283)
Distributions to non-controlling interests	(1,034)						(1,034)
Share-based compensation	643		643
Issuance of common stock, net of costs (in shares)		1,167,987
Issuance of common stock, net of costs	3,179	$ 583	2,596
Issuance of common stock for services (in shares)		478
Issuance of common stock for services	2	$ 1	1
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	101				101
Net actuarial gain (loss) arising during the period, net of taxes of $0	1,108				1,108
Curtailment gain and gain on termination of post-retirement medical plan, net of taxes of $0	541				541
Balance at Sep. 30, 2021	$ 9,507	$ 4,807	$ 4,590	$ 2,356	$ 32	$ (2,286)	$ 8
Balance (in shares) at Sep. 30, 2021		9,445,625

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	0	0
Net actuarial gain (loss) arising during the period, taxes	0	0
Curtailment gain and gain on termination of post-retirement medical plan, taxes	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net earnings (loss)	$ 7,203	$ (4,677)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Equity in income of affiliates	(5,793)	(352)
Depletion, depreciation, and amortization	963	2,147
Impairment of assets	668	4,376
Gain on sale of oil and natural gas properties	(818)	0
Gain on sale of other assets	(1,164)	(1,336)
Sale of interest in leasehold land, net of fees paid	(1,526)	(285)
Distributions of income from equity investees	5,045	75
Retirement benefits income	(88)	(60)
Accretion of asset retirement obligation	580	561
Deferred income tax expense	165	26
Asset retirement obligation payments	(421)	(498)
Share-based compensation expense	643	0
Common stock issued for services	1	0
Non-cash rent (income) expense	(4)	48
Retirement plan contributions and payments	(14)	(8)
Bad debt expense	32	285
Gain on debt extinguishment	(149)	0
Gain on termination of post-retirement medical plan	(2,341)	0
(Decrease) increase from changes in current assets and liabilities	(2,151)	448
Net cash provided by operating activities	831	750
Cash flows from investing activities:
Distributions from equity investees in excess of earnings	1,649	305
Proceeds from sale of interest in leasehold land, net of fees paid	1,526	285
Proceeds from the sale of oil and natural gas assets	581	608
Proceeds from the sale of other assets, net of closing costs	1,864	1,100
Payments to acquire oil and natural gas properties	(348)	0
Capital expenditures - oil and natural gas	(1,523)	(2,716)
Capital expenditures - all other	(63)	(415)
Net cash provided by (used in) investing activities	3,686	(833)
Cash flows from financing activities:
Borrowings on long-term debt	47	147
Distributions to non-controlling interests	(1,034)	(87)
Proceeds from issuance of stock, net of costs	3,179	0
Net cash provided by financing activities	2,192	60
Effect of exchange rate changes on cash and cash equivalents	(14)	(6)
Net increase (decrease) in cash and cash equivalents	6,695	(29)
Cash and cash equivalents at beginning of year	4,584	4,613
Cash and cash equivalents at end of year	$ 11,279	$ 4,584

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Barnwell is engaged in the following lines of business: 1) acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma, 2) investing in land interests in Hawaii, and 3) drilling wells and installing and repairing water pumping systems in Hawaii. Principles of Consolidation The 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), and a variable interest entity (Teton Barnwell Fund I, LLC) for which the Company is deemed to be the primary beneficiary. All significant intercompany accounts and transactions have been eliminated. Undivided interests in oil and natural gas exploration and production joint ventures are consolidated on a proportionate basis. Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in VIEs in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of the consolidated 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 assumptions are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements, obligations for retirement plans, contract drilling estimated costs to complete, proved oil and natural gas reserves, and the carrying value of other assets, and such assumptions may impact the amount at which such items are recorded. Revenue Recognition Barnwell operates in and derives revenue from the following three principal business segments: • Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and Oklahoma. • Land Investment Segment - Barnwell invests in land interests in Hawaii. • Contract Drilling Segment - Barnwell provides well drilling services and water pumping system installation and repairs in Hawaii. Oil and Natural Gas - Barnwell’s investments in oil and natural gas properties are located in Alberta, Canada and Oklahoma. These property interests are principally held under governmental leases or licenses. Barnwell sells the large majority of its oil, natural gas and natural gas liquids production under short-term contracts between itself and marketers based on prices indexed to market prices and recognizes revenue at a point in time when the oil, natural gas and natural gas liquids are delivered, as this is where Barnwell’s performance obligation is satisfied and title has passed to the customer. Land Investment - Barnwell is entitled to receive contingent residual payments from the entities that previously purchased Barnwell’s land investment interests under contracts entered into in prior years. The residual payments under those contracts become due when the entities sell lots and/or residential units in the areas that were previously sold under the aforementioned contracts or when a preferred payment threshold is achieved. The residual payments received by Barnwell are recognized as revenue when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Contract Drilling - Through contracts which are normally less than twelve months in duration, Barnwell drills water and water monitoring wells and installs and repairs water pumping systems in Hawaii. Barnwell recognizes revenue from well drilling or the installation of pumps over time based on total costs incurred on the projects relative to the total expected costs to satisfy the performance obligation as management believes this is an accurate representation of the percentage of completion as control is continuously transferred to the customer. Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets until control is transferred to the customer. When the estimate on a contract indicates a loss, Barnwell records the entire estimated loss in the period the loss becomes known. The contract price may include variable consideration, which includes such items as increases to the transaction price for unapproved change orders and claims for which price has not yet been agreed by the customer. The Company estimates variable consideration using either the most likely amount or expected value method, whichever is a more appropriate reflection of the amount to which it expects to be entitled based on the characteristics and circumstances of the contract. Variable consideration is included in the estimated transaction price to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. Contract price and cost estimates are reviewed periodically as work progresses and adjustments proportionate to the costs incurred to date to total estimated costs at completion are reflected in contract revenues in the reporting period when such estimates are revised. The nature of accounting for these contracts is such that refinements of the estimated costs to complete may occur and are characteristic of the estimation process due to changing conditions and new developments. Many factors and assumptions can and do change during a contract performance obligation period which can result in a change to contract profitability including unforeseen underground geological conditions (to the extent that contract remedies are unavailable), the availability and costs of skilled contract labor, the performance of major material suppliers, the performance of major subcontractors, unusual weather conditions and unexpected changes in material costs, changes in the scope and nature of the work to be performed, and unexpected construction execution errors, among others. These factors may result in revisions to costs and income and are recognized in the period in which the revisions become known. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. Management evaluates the performance of contracts on an individual basis. In the ordinary course of business, but at least quarterly, we prepare updated estimates that may impact the cost and profit or loss for each contract based on actual results to date plus management's best estimate of costs to be incurred to complete each performance obligation. The cumulative effect of revisions in estimates of the total forecasted revenue and costs, including any unapproved change orders and claims, during the course of the contract is reflected in the accounting period in which the facts that caused the revision become known. Changes in the cost estimates can have a material impact on our consolidated financial statements and are reflected in the results of operations when they become known. Unexpected significant inefficiencies that were not considered a risk at the time of entering into the contract, such as design or construction execution errors that result in significant wasted resources, are excluded from the measure of progress toward completion and the costs are expensed as incurred. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. Contract liabilities are included in “Other current liabilities” on the Company’s Consolidated Balance Sheets. Costs and estimated earnings in excess of billings represent certain amounts under customer contracts that were earned and billable, but yet not invoiced, and are included in contract assets and reported in “Other current assets” on the Company’s Consolidated Balance Sheets. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and short-term investments with original maturities of three months or less. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain bank account balances with high quality financial institutions which often exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash. Accounts and Other Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is Barnwell’s best estimate of the amount of probable credit losses in Barnwell’s existing accounts receivable and is based on historical write-off experience and the application of the specific identification method. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Barnwell does not have any off-balance sheet credit exposure related to its customers. Investments in Real Estate Barnwell accounts for sales of Increment I and Increment II leasehold land interests under the full accrual method. Gains from such sales were recognized when the buyer’s investments were adequate to demonstrate a commitment to pay for the property, risks and rewards of ownership transferred to the buyer, and Barnwell did not have a substantial continuing involvement with the property sold. With regard to payments Kaupulehu Developments is entitled to receive from KD I and KD II, the percentage of sales payments from KD I and KD II and percentage of distributions from KD II are contingent future profits which will be recognized when they are realized. All costs of the sales of Increment I and Increment II leasehold land interests were recognized at the time of sale and were not deferred to future periods when any contingent profits will be recognized. The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is the primary beneficiary, may require significant judgment. Barnwell analyzes its entities in which it has a variable interest to determine whether the entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. Entities that have been determined to be VIEs and for which we have a controlling financial interest and are therefore the VIE’s primary beneficiary are consolidated (see Note 5). Entities that have been determined to be VIEs and for which we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary are not consolidated. These unconsolidated entities are accounted for under the equity method (see Note 4). Equity Method Investments Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3% to 5% ownership interest and does not control, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments and other adjustments required by the equity method. Gains or losses are realized when such investments are sold. Barnwell classifies distributions received from equity method investments using the cumulative earnings approach in the Consolidated Statements of Cash Flows. Under the cumulative earnings approach, distributions received up to the amount of cumulative equity in earnings recognized are treated as returns on investment and are classified within operating cash flows and those in excess of that amount are treated as returns of investment and are classified within investing cash flows. Investments in equity method investees are evaluated for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their respective fair values, additional impairment tests are performed to measure the amounts of the impairment losses, if any. When an impairment test demonstrates that the fair value of an investment is less than its carrying value, management will determine whether the impairment is either temporary or other-than-temporary. Examples of factors which may be indicative of an other-than-temporary impairment include (a) the length of time and extent to which fair value has been less than carrying value, (b) the financial condition and near-term prospects of the investee, and (c) the intent and ability to retain the investment in the investee for a period of time sufficient to allow for any anticipated recovery in fair value. If the decline in fair value is determined by management to be other-than-temporary, the carrying value of the investment is written down to its estimated fair value as of the balance sheet date of the reporting period in which the assessment is made. Oil and Natural Gas Properties Barnwell uses the full cost method of accounting under which all costs incurred in the acquisition, exploration and development of oil and natural gas reserves, including costs related to unsuccessful wells and estimated future site restoration and abandonment, are capitalized. We capitalize internal costs that can be directly identified with our acquisition, exploration and development activities and do not include any costs related to production, general corporate overhead or similar activities. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. Costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unevaluated and unproved properties are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under the full cost method of accounting, we review the carrying value of our oil and natural gas properties, on a country-by-country basis, each quarter in what is commonly referred to as the ceiling test. Under the ceiling test, capitalized costs, net of accumulated depletion and oil and natural gas related deferred income taxes, may not exceed an amount equal to the sum of 1) the discounted present value (at 10%), using average first-day-of-the-month prices during the 12-month period ending as of the balance sheet date held constant over the life of the reserves, of Barnwell’s estimated future net cash flows from estimated production of proved oil and natural gas reserves as determined by independent petroleum reserve engineers, less estimated future expenditures to be incurred in developing and producing the proved reserves but excluding future cash outflows associated with settling asset retirement obligations with the exception of those associated with proved undeveloped reserves from wells that are to be drilled in the future; plus 2) the cost of major development projects and unproven properties not subject to depletion, if any; plus 3) the lower of cost or estimated fair value of unproven properties included in costs subject to depletion; less 4) related income tax effects. If net capitalized costs exceed this limit, the excess is expensed. Depletion is computed using the units-of-production method whereby capitalized costs, net of estimated salvage values, plus estimated future costs to develop proved reserves and satisfy asset retirement obligations, are amortized over the total estimated proved reserves on a country-by-country basis. Investments in major development projects are not depleted until either proved reserves are associated with the projects or impairment has been determined. Proceeds from the disposition of oil and natural gas properties are credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves in a particular country. Given the volatility of oil and gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved oil and gas reserves could change in the near term. If oil and gas prices decline in the future, even if only for a short period of time, it is possible that impairments of oil and gas properties could occur. In addition, it is reasonably possible that impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved oil and gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved oil and gas reserves. Barnwell’s sales reflect its working interest share after royalties. Barnwell’s production is generally delivered and sold at the plant gate. Barnwell does not have transportation volume commitments with pipelines and does not have natural gas imbalances related to natural gas balancing arrangements with its partners. Acquisitions In accordance with the guidance for business combinations, Barnwell determines whether an acquisition is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method of accounting. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Under both methods purchase prices are allocated to acquired assets and assumed liabilities based on their estimated fair value at the time of the acquisition. For transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company capitalizes acquisition-related costs and fees associated with asset acquisitions and immediately expenses acquisition-related costs and fees associated with business combinations. Long-lived Assets Long-lived assets to be held and used, other than oil and natural gas properties, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future net cash flows expected to result from use of the asset (undiscounted and without interest charges). If it is determined that the asset may not be recoverable, impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of the asset carrying value or fair value, less cost to sell. Water well drilling rigs, office and other property and equipment are depreciated using the straight-line method based on estimated useful lives. Share-based Compensation Share-based compensation cost is measured at fair value. Barnwell utilizes a closed-form valuation model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of Barnwell’s stock over a period consistent with that of the expected terms of the options. The expected terms of the options represent expectations of future employee exercise and are estimated based on factors such as vesting periods, contractual expiration dates, historical trends in Barnwell’s stock price, and historical exercise behavior. If the Company does not have sufficient historical data regarding employee exercise behavior, the “simplified method” as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment is utilized to estimate the expected terms of the options. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms. Expected dividends are based on current and historical dividend payments. The Company's policy is to recognize forfeitures as they occur. Retirement Plans Barnwell accounts for its defined benefit pension plan, Supplemental Executive Retirement Plan, and post-retirement medical insurance benefits plan, which was terminated in June 2021, by recognizing the over-funded or under-funded status as an asset or liability in its Consolidated Balance Sheets and recognizes changes in that funded status in the year in which the changes occur through comprehensive income. See further discussion at Note 9. The estimation of Barnwell’s retirement plan obligations, costs and liabilities requires management to estimate the amount and timing of cash outflows for projected future payments and cash inflows for maturities and expected returns on plan assets. These assumptions may have an effect on the amount and timing of future contributions. At the end of each year, Barnwell determines the discount rate to be used to calculate the present value of plan liabilities and the net periodic benefit cost. The discount rate is an estimate of the current interest rate at which the retirement plan liabilities could be effectively settled at the end of the year. In estimating this rate, Barnwell performs a cash-flow matching discount rate analysis developed using high-quality corporate bonds yield. The discount rate used to value the future benefit obligation as of each year-end is the rate used to determine the periodic benefit cost in the following year. The expected long-term return on assets assumption for the pension plans represents the average rate of return to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. The actual fair value of plan assets and estimated rate of return is used to determine the expected investment return during the year. The estimated rate of return on plan assets is based on an estimate of future experience for plan asset returns, the mix of plan assets, current market conditions, and expectations for future market conditions. A decrease (increase) of 50 basis points in the expected return on assets assumption would increase (decrease) pension expense by approximately $62,000 based on the assets of the plan at September 30, 2021. The effects of changing assumptions are included in unamortized net gains and losses, which directly affect accumulated other comprehensive income. These unamortized gains and losses in excess of certain thresholds are amortized and reclassified to (loss) income over the average remaining service life of active employees. Asset Retirement Obligation Barnwell accounts for asset retirement obligations by recognizing the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires assumptions and judgments regarding the existence of liabilities, the amount and timing of cash outflows required to settle the liability, what constitutes adequate restoration, inflation factors, credit adjusted discount rates, and consideration of changes in legal, regulatory, environmental and political environments. Abandonment and restoration cost estimates are determined in conjunction with Barnwell’s reserve engineers based on historical information regarding costs incurred to abandon and restore similar well sites, information regarding current market conditions and costs, and knowledge of subject well sites and properties. These assumptions represent Level 3 inputs. Barnwell’s estimated site restoration and abandonment costs of its oil and natural gas properties are capitalized as part of the carrying amount of oil and natural gas properties and depleted over the life of the related reserves. When the assumptions used to estimate a recorded asset retirement obligation change, a revision is recorded to both the asset retirement obligation and the capitalized cost of asset retirements. The liability is accreted at the end of each period through charges to oil and natural gas operating expense. Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax impacts of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Management evaluates its potential exposures from tax positions taken that have been or could be challenged by taxing authorities. These potential exposures result because taxing authorities may take positions that differ from those taken by management in the interpretation and application of statutes, regulations and rules. Management considers the possibility of alternative outcomes based upon past experience, previous actions by taxing authorities (e.g., actions taken in other jurisdictions) and advice from tax experts. Recognized tax positions are initially and subsequently measured as the largest amount of tax benefit that is more likely than not of being realized upon ultimate settlement with a taxing authority on a jurisdiction-by-jurisdiction basis. Liabilities for unrecognized tax benefits related to such tax positions are included in long-term liabilities unless the tax position is expected to be settled within the upcoming year, in which case the liabilities are included in current liabilities. Interest and penalties related to uncertain tax positions are included in income tax expense. Environmental Barnwell is subject to extensive environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and maintenance of surface conditions and may require Barnwell to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable, and the costs can be reasonably estimated. Barnwell recognizes an insurance receivable related to environmental expenditures when collection of the receivable is deemed probable. Any recognition of an insurance receivable is recorded by crediting and offsetting the original charge. Any differential arising between insurance recoveries and insurance receivables is expensed or capitalized, consistent with the original treatment. Foreign Currency Translation Assets and liabilities of foreign subsidiaries are translated at the year-end exchange rate. Operating results of foreign subsidiaries are translated at average exchange rates during the period. Translation adjustments have no effect on net income and are included in “Accumulated other comprehensive income (loss), net” in stockholders’ equity. Fair Value Measurements Fair value is defined as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities in active markets and have the highest priority. • Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs for the financial asset or liability and have the lowest priority. Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement,” which provides changes to certain fair value disclosure requirements. The Company adopted the provisions of this ASU effective October 1, 2020. The adoption of this update did not have an impact on Barnwell's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, “Compensation - Retirement Benefits-Defined Benefit Plans - General: Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans,” which provides changes t

GOING CONCERN

GOING CONCERN	12 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business for the twelve-month period following the date of issuance of these consolidated financial statements. Our ability to sustain our business in the future will depend on the sufficiency of our cash on hand, oil and natural gas operating cash flows, which are highly sensitive to volatile oil and natural gas prices, contract drilling operating cash flows, which are subject to large changes in demand, and future land investment segment proceeds and distributions from the Kukio Resort Land Development Partnerships, the timing of which are both highly uncertain and not within Barnwell’s control. A sufficient level of such cash and cash inflows are necessary to fund discretionary oil and natural gas capital expenditures, which must be economically successful to provide sufficient returns, as well as fund our non-discretionary outflows such as oil and natural gas asset retirement obligations and ongoing operating and general and administrative expenses. In addition, as discussed in the "Asset Retirement Obligation" section of "Liquidity and Capital Resources," a significant amount of funds will be required to be put on deposit with Canadian regulatory authorities to fund abandonments at the Company's oil and natural gas properties in the Manyberries area. Other sources and potential sources of funding are discussed below. In fiscal 2020, the Company listed its corporate office on the 29th floor of a commercial office building in downtown Honolulu, Hawaii for sale and on September 30, 2021, the Company’s Honolulu corporate office was sold for approximately $1,864,000, net of related costs. On March 16, 2021, the Company initiated an at-the-market offering program (“ATM”) pursuant to which the Company may offer and sell, from time to time, shares of its common stock under price and volume guidelines set by the Company's Board of Directors and the terms and conditions described in the Registration Statement. The sale of shares under the ATM began in May 2021 and as of September 30, 2021, the Company sold 1,167,987 shares of common stock resulting in net proceeds of $3,784,000 after commissions and fees of $123,000. In April 2021, the Company re-initiated the marketing of its non-core oil and natural gas properties in the Spirit River, Wood River, Medicine River, Kaybob, Bonanza, Balsam and Thornbury areas for sale. On July 8, 2021, Barnwell entered into and completed a purchase and sale agreement with an independent third party and sold its interests in certain natural gas and oil properties located in the Spirit River area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $1,047,000 in order to, among other things, reflect an economic effective closing date of sale of July 8, 2021. From Barnwell's net proceeds, $526,000 was withheld for remittance by the buyers to the Canada Revenue Agency for potential amounts due for Barnwell’s Canadian income taxes related to the sale. Negotiations regarding the potential sales of other non-core oil and natural gas properties is ongoing, however there is no assurance that the sale of any of the other non-core properties will occur. We have experienced a trend of losses and negative operating cash flows in three of the last four years. During fiscal 2020 and 2021, continuing uncertainties regarding the impacts of the COVID-19 pandemic on our business and the sufficiency of our cash balances and future cash inflows as described above raised substantial doubt about our ability to meet our estimated cash outflows or continue as a going concern. However, due to the $3,784,000 of net proceeds raised by the ATM through September 30, 2021, the proceeds received from the sale of the Company's corporate office and its interests in certain natural gas and oil properties in the Spirit River area, as well as the $7,156,000 of net cash inflows in the year ended September 30, 2021 from land segment percentage of sales proceeds and distributions from the Kukio Resort Land Development Partnerships, substantial doubt about our ability to meet our estimated cash outflows or continue as a going concern for one year from the date of the filing of this report has been overcome.

EARNINGS (LOSS) PER COMMON SHAR

EARNINGS (LOSS) PER COMMON SHARE	12 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE	EARNINGS (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 615,000 shares were excluded from the computation of diluted shares for the year ended September 30, 2021, as their inclusion would have been antidilutive. There were no options outstanding at September 30, 2020. Reconciliations between net earnings (loss) attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net earnings (loss) per share computations are detailed in the following tables: Year ended September 30, 2021 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 6,253,000 8,592,154 $ 0.73 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 6,253,000 8,592,154 $ 0.73 Year ended September 30, 2020 Net Loss Shares Per-Share (Numerator) (Denominator) Amount Basic net loss per share $ (4,756,000) 8,277,160 $ (0.57) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (4,756,000) 8,277,160 $ (0.57)

INVESTMENTS

INVESTMENTS	12 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
INVESTMENTS	INVESTMENTS 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 and KKM, and indirectly acquired a 19.6% non-controlling ownership interest in each of KD Kukio Resorts, KD Maniniowali, and KDK for $5,140,000. The Kukio Resort Land Development Partnerships 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. KDK holds interests in KD I and KD II. KD I is the developer of Increment I and KD II is the developer of Increment II. Barnwell's ownership interests in the Kukio Resort Land Development Partnerships is accounted for using the equity method of accounting. The partnerships derive income from the sale of residential parcels as well as from commissions on real estate sales by the real estate sales office. Two ocean front parcels approximately two to three acres in size fronting the ocean were developed within Increment II by KD II, of which one was sold in fiscal 2017 and one was sold in fiscal 2016. The remaining acreage within Increment II is not yet under development, and there is no assurance that development of such acreage will in fact occur. No definitive development plans have been made by the developer of Increment II as of the date of this report. In March 2019, KD II admitted a new development partner, Replay, a party unrelated to Barnwell, in an effort to move forward with development of the remainder of Increment II at Kaupulehu. KDK and Replay hold ownership interests of 55% and 45%, respectively, of KD II and Barnwell has a 10.8% indirect non-controlling ownership interest in KD II through KDK, which is accounted for using the equity method of accounting. Barnwell continues to have an indirect 19.6% non-controlling ownership interest in KD Kukio Resorts, KD Maniniowali, and KD I. Barnwell has the right to receive distributions from the Kukio Resort Land Development Partnerships via its non-controlling interests in KD Kona and KKM, based on its respective partnership sharing ratios of 75% and 34.45%, respectively. Additionally, Barnwell was entitled to a preferred return from KKM on any allocated equity in income of the Kukio Resort Land Development Partnerships in excess of its partnership sharing ratio for cumulative distributions to all of its partners in excess of $45,000,000 from those partnerships. Cumulative distributions from the Kukio Resort Land Development Partnerships have reached the $45,000,000 threshold and in the quarter ended December 31, 2020, the Kukio Resort Land Development Partnerships made distributions in excess of the threshold out of the proceeds from the sale of two lots in Increment I. Accordingly, Barnwell received a total of $459,000 in preferred return payments, which is reflected as an additional equity pickup in the "Equity in income of affiliates" line item on the accompanying Consolidated Statement of Operations for the year ended September 30, 2021. The preferred return payments received in the quarter ended December 30, 2020, brought the cumulative preferred return total to $656,000, which is the total amount Barnwell was entitled to, and thus there is no more preferred return outstanding as of September 30, 2021. During the year ended September 30, 2021, Barnwell received net cash distributions in the amount of $6,011,000 from the Kukio Resort Land Development Partnerships after distributing $683,000 to non-controlling interests. Of the $6,011,000 net cash distribution received from the Kukio Resort Land Development Partnerships, $459,000 represented a payment of the preferred return from KKM, as discussed above. During the year ended September 30, 2020, Barnwell received net cash distributions in the amount of $360,000 from the Kukio Resort Land Development Partnerships after distributing $20,000 to non-controlling interests. Of the $360,000 net cash distribution received from the Kukio Resort Land Development Partnerships, $197,000 represented a payment of the preferred return from KKM. Barnwell's share of the operating results of its equity affiliates was income of $5,793,000, which includes the $459,000 payment of the preferred return from KKM discussed above, for the year ended September 30, 2021, as compared to income of $352,000, which includes a preferred return payment of $197,000 from KKM, for the year ended September 30, 2020. 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 $138,000 as of September 30, 2021, 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 $146,000 and $13,000, for the years ended September 30, 2021 and 2020, respectively, increased equity in income of affiliates. Summarized financial information for the Kukio Resort Land Development Partnerships is as follows: Year ended September 30, 2021 2020 Revenue $ 43,013,000 $ 7,911,000 Gross profit $ 24,759,000 $ 4,071,000 Net earnings $ 20,612,000 $ 618,000 During the year ended September 30, 2021, the Company received cumulative distributions from the Kukio Resort Land Development Partnerships in excess of our investment balance and in accordance with applicable accounting guidance, the Company suspended its equity method earnings recognition and reduced its Kukio Resort Land Development Partnership investment balance to zero as of September 30, 2021. In addition, the Company recorded the distributions received in excess of our investment balance of $654,000 as equity in income of affiliates during the year ended September 30, 2021. The Company records the distributions in excess of our investment in the Kukio Resort Land Development Partnerships as income because the distributions are not refundable by agreement or by law and the Company is not liable for the obligations of or otherwise committed to provide financial support to the Kukio Resort Land Development Partnerships. The Company will record future equity method earnings only after our share of the Kukio Resort Land Development Partnership’s cumulative earnings during the suspended period exceeds our share of the Kukio Resort Land Development Partnership’s income recognized for the excess distributions. At September 30, 2020, the Company’s investment in the Kukio Resort Land Development Partnerships was $901,000. Sale of Interest in Leasehold Land 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 Increment I and Increment II by KD I and KD II (see Note 20). With respect to Increment I, Kaupulehu Developments is entitled to receive payments from KD I based on the following percentages of the gross receipts from KD I’s sales of single-family residential lots in Increment I: 10% of such aggregate gross proceeds greater than $100,000,000 up to $300,000,000; and 14% of such aggregate gross proceeds in excess of $300,000,000. In fiscal 2021, eight single-family lots in Increment I were sold bringing the total amount of gross proceeds from single-family lot sales through September 30, 2021 to $237,038,000. As of September 30, 2021, nine single-family lots, of the 80 lots developed within Increment I, remained to be sold. Under the terms of the Increment II agreement with KD II, Kaupulehu Developments is entitled to 15% of the distributions of KD II, the cost of which is to be solely borne by KDK out of its 55% ownership interest in KD II, plus a priority payout of 10% of KDK’s cumulative net profits derived from Increment II sales subsequent to Phase 2A, up to a maximum of $3,000,000 as to the priority payout. Such interests are limited to distributions or net profits interests and Barnwell does not have any partnership interests in KD II or KDK through its interest in Kaupulehu Developments. The arrangement also gives Barnwell rights to three single-family residential lots in Phase 2A of Increment II, and four single-family residential lots in phases subsequent to Phase 2A when such lots are developed by KD II, all at no cost to Barnwell. Barnwell is committed to commence construction of improvements within 90 days of the transfer of the four lots in the phases subsequent to Phase 2A as a condition of the transfer of such lots. Also, in addition to Barnwell’s existing obligations to pay professional fees to certain parties based on percentages of its gross receipts, Kaupulehu Developments is also obligated to pay an amount equal to 0.72% and 0.20% of the cumulative net profits of KD II to KD Development and a pool of various individuals, respectively, all of whom are partners of KKM and are unrelated to Barnwell, in compensation for the agreement of these parties to admit the new development partner for Increment II. Such compensation will be reflected as the obligation becomes probable and the amount of the obligation can be reasonably estimated. The following table summarizes the Increment I revenues from KD I and the amount of fees directly related to such revenues (see Note 18 “Commitments and Contingencies - Other Matters”): Year ended September 30, 2021 2020 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 1,738,000 $ 325,000 Fees - included in general and administrative expenses (212,000) (40,000) Sale of interest in leasehold land, net of fees paid $ 1,526,000 $ 285,000 There is no assurance with regards to the amounts of future payments from Increment I or Increment II to be received, or that the remaining acreage within Increment II will be developed. No definitive development plans have been made by the developer of Increment II as of the date of this report. 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, which currently has no development potential without both a development agreement with the lessor and zoning reclassification. The lease terminates in December 2025. In the year ended September 30, 2020, the Company recorded a $50,000 impairment in the carrying value of its investment in leasehold land interest in Lot 4C as a result of the uncertainty regarding the timing of future development and potential use of water rights within Lot 4C prior to the expiration of the lease term.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITY	12 Months Ended
	Sep. 30, 2021
Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITY	CONSOLIDATED VARIABLE INTEREST ENTITY In February 2021, Barnwell Industries, Inc. established a new wholly-owned subsidiary named BOK Drilling, LLC (“BOK”) for the purpose of indirectly investing in oil and natural gas exploration and development in Oklahoma. BOK and Gros Ventre Partners, LLC (“Gros Ventre”), an entity affiliated with the Company, entered into the Limited Liability Agreement (the “Agreement”) of Teton Barnwell Fund I, LLC (“Teton Barnwell”), an entity formed for the purpose of directly entering into such oil and natural gas investments. Under the terms of the Agreement, the profits of Teton Barnwell are split between BOK and Gros Ventre at 98% and 2%, respectively, and as the manager of Teton Barnwell, Gros Ventre is paid an annual asset management fee equal to 1% of the cumulative capital contributions made to Teton Barnwell as compensation for its management services. BOK is responsible for 100% of the capital contributions made to Teton Barnwell and as of September 30, 2021, the Company made a total of $750,000 in capital contributions to Teton Barnwell to fund its oil and natural gas investments in Oklahoma. The Company has determined that Teton Barnwell is a VIE as the entity is structured with non-substantive voting rights and that the Company is the primary beneficiary. This is due to the fact that even though Teton Barnwell has a unanimous consent voting structure, BOK is responsible for 100% of the capital contributions required to fund Teton Barnwell’s future oil exploration and development investments pursuant to the Agreement and thus, BOK has the power to steer the decisions that most significantly impact Teton Barnwell’s economic performance and has the obligation to absorb any potential losses that could be significant to Teton Barnwell. As BOK is the primary beneficiary of the VIE, Teton Barnwell’s operating results, assets and liabilities are consolidated by the Company. Mr. Colin R. O'Farrell, a member of the Board of Directors of the Company effective July 12, 2021, is the sole member of Four Pines Operating LLC which owns a 25% interest in Gros Ventre. Mr. O'Farrell's influence as a member of the Board of Directors of the Company further supports the consolidation of Teton Barnwell's operating results, assets and liabilities as discussed above. The following table summarizes the carrying value of the assets and liabilities of Teton Barnwell that are consolidated by the Company. Intercompany balances are eliminated in consolidation and thus, are not reflected in the table below. September 30, ASSETS Cash and cash equivalents $ 136,000 Accounts and other receivables 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 203,000 Unproved properties 962,000 Total assets $ 1,419,000 LIABILITIES Accounts payable $ 3,000 Accrued capital expenditures 581,000 Accrued operating and other expenses 20,000 Total liabilities $ 604,000

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	12 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE Honolulu Corporate Office The Company’s Honolulu corporate office was designated as an asset held for sale and the carrying value in the aggregate amount of $699,000 was included in “Asset held for sale” on the Company's Consolidated Balance Sheet at September 30, 2020. On September 30, 2021, the Company’s Honolulu corporate office was sold for approximately $1,864,000, net of related costs, resulting in a gain of $1,164,000, which was recognized in the year ended September 30, 2021. Contract Segment Drilling Rig and Equipment

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES	12 Months Ended
	Sep. 30, 2021
Oil and Natural Gas Properties [Abstract]
OIL AND NATURAL GAS PROPERTIES	OIL AND NATURAL GAS PROPERTIES Dispositions In April 2021, Barnwell entered into a purchase and sale agreement with an independent third party and sold its interests in properties located in the Hillsdown area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $132,000 in order to, among other things, reflect an economic effective date of October 1, 2020. $72,000 of the sales proceeds was withheld by the buyers for potential amounts due for Barnwell’s Canadian income taxes related to the sale. The final determination of the customary adjustments to the purchase price has not yet been made, however it is not expected to result in a material adjustment. The proceeds were credited to the full cost pool, with no gain or loss recognized, as the sale did not result in a significant alteration of the relationship between capitalized costs and proved reserves. On July 8, 2021, Barnwell entered into and completed a purchase and sale agreement with an independent third party and sold its interests in certain natural gas and oil properties located in the Spirit River area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $1,047,000 in order to, among other things, reflect an economic effective closing date of sale of July 8, 2021. From Barnwell's net proceeds, $526,000 was withheld for remittance by the buyers to the Canada Revenue Agency for potential amounts due for Barnwell’s Canadian income taxes related to the sale. The difference in the relationship between capitalized costs and proved reserves of the Spirit River properties sold as compared to the properties retained by Barnwell was significant as there was a 93% difference in capitalized costs divided by proved reserves if the gain was recorded versus the gain being credited against the full-cost pool. Accordingly, Barnwell recorded a gain on the sale of Spirit River of $818,000 in the year ended September 30, 2021 in accordance with the guidance in Rule 4-10(c)(6)(i) of Regulation S-X of the rules and regulations of the SEC, which requires an allocation of capitalized costs to the reserves sold and reserves retained on the basis of the relative fair values of the properties as there was a substantial economic difference between the properties sold and those retained. Also included in the gain calculation were asset retirement obligations of $77,000 assumed by the purchaser. In the quarter ended December 31, 2019, Barnwell entered into a purchase and sale agreement with an independent third party and sold its interests in properties located in the Progress area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $594,000 in order to, among other things, reflect an economic effective date of October 1, 2019. The proceeds were credited to the full cost pool, with no gain or loss recognized, as the sale did not result in a significant alteration of the relationship between capitalized costs and proved reserves. Acquisitions In April 2021, Barnwell acquired additional working interests in oil and natural gas properties located in the Twining area of Alberta, Canada for cash consideration of $348,000. The purchase price per the agreement was adjusted for customary purchase price adjustments to reflect the economic activity from the effective date to the closing date. The final determination of the customary adjustments to the purchase price has not yet been made, however it is not expected to result in a material adjustment. There were no significant amounts paid for oil and natural gas property acquisitions during the year ended September 30, 2020. Impairment of Oil and Natural Gas Properties Under the full cost method of accounting, the Company performs quarterly oil and natural gas ceiling test calculations. There was a ceiling test impairment of $630,000 during the year ended September 30, 2021. There was a $4,326,000 ceiling test impairment during the year ended September 30, 2020. Changes in the mandated 12-month historical rolling average first-day-of-the-month prices for oil, natural gas and natural gas liquids prices, the value of reserve additions as compared to the amount of capital expenditures to obtain them, and changes in production rates and estimated levels of reserves, future development costs and the estimated market value of unproved properties, impact the determination of the maximum carrying value of oil and natural gas properties.

PROPERTY AND EQUIPMENT AND ASSE

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION	12 Months Ended
	Sep. 30, 2021
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION	PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION Barnwell’s property and equipment is detailed as follows: Estimated Gross Accumulated Net At September 30, 2021: Oil and natural gas properties: Proved properties $ 58,490,000 $ (56,067,000) $ 2,423,000 Unproved properties 962,000 — 962,000 Total oil and natural gas properties 59,452,000 (56,067,000) 3,385,000 Drilling rigs and equipment 3 – 10 years 7,273,000 (6,789,000) 484,000 Other property and equipment 3 – 10 years 687,000 (681,000) 6,000 Total $ 67,412,000 $ (63,537,000) $ 3,875,000 Estimated Gross Accumulated Net At September 30, 2020: Oil and natural gas properties: Proved properties $ 64,142,000 $ (61,839,000) $ 2,303,000 Unproved properties — — — Total oil and natural gas properties 64,142,000 (61,839,000) 2,303,000 Drilling rigs and equipment 3 – 10 years 8,244,000 (6,793,000) 1,451,000 Other property and equipment 3 – 17 years 1,045,000 (1,025,000) 20,000 Total $ 73,431,000 $ (69,657,000) $ 3,774,000 See Note 7 for discussion of acquisitions and divestitures of oil and natural gas properties in fiscal 2021 and 2020. Barnwell recognizes the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. The following is a reconciliation of the asset retirement obligation: Year ended September 30, 2021 2020 Asset retirement obligation as of beginning of year $ 6,194,000 $ 6,389,000 Obligations incurred on new wells drilled or acquired 532,000 227,000 Liabilities associated with properties sold (375,000) (169,000) Revision of estimated obligation 279,000 (279,000) Accretion expense 580,000 561,000 Payments (421,000) (498,000) Foreign currency translation adjustment 264,000 (37,000) Asset retirement obligation as of end of year 7,053,000 6,194,000 Less current portion (713,000) (647,000) Asset retirement obligation, long-term $ 6,340,000 $ 5,547,000 Asset retirement obligations were reduced by $375,000 and $169,000, in fiscal 2021 and 2020, respectively, for those obligations that were assumed by purchasers of Barnwell's oil and natural gas properties. Asset retirement obligations also increased by $279,000 in fiscal 2021 as compared to a reduction of $279,000 in fiscal 2020 primarily due to upward revisions from acceleration in the estimated timing of future abandonments as a result of changes in the estimated economic life of certain wells and changes in management's discretionary timing of abandonment projects due to an increase in estimated funds available as well as an increase in the estimated cost of abandonments at the Manyberries area, as further discussed below. Asset retirement obligations increased by $532,000 and $227,000 in fiscal 2021 and 2020, respectively, due primarily to our acquisitions (see Note 7 for additional details). The asset retirement obligation reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with Barnwell's oil and natural gas properties. Barnwell estimates the ultimate productive life of the properties, a credit-adjusted risk-free rate, and an inflation factor in order to determine the current present value of this obligation. The credit-adjusted risk-free rate for the entire asset retirement obligation is a blended rate which ranges from 6% to 13.5%. In September 2019, the AER issued an abandonment/closure order for all wells and facilities in the Manyberries area which had been largely operated by LGX, an operating company that went into receivership in 2016. The estimated asset retirement obligation for the Company's interest in the wells and facilities in the Manyberries area is included in “Asset retirement obligation” in the Consolidated Balance Sheets. Recently, the OWA created a WIP program for specific areas where there are a significant number of orphaned wells to abandon. The OWA has the ability and expertise to abandon wells using its internal resources and network of service providers resulting in efficiencies that companies such as Barnwell, would not be able to obtain on its own. Under the WIP program, the Company would be required to provide payment for only Barnwell’s working interest share, however, all WIP’s would have to participate in the program for the OWA to begin its work. In March 2021, the Company was notified by the OWA that Barnwell’s Manyberries wells were confirmed to be in the WIP program. Under the new agreement with the OWA, the Company is required to pay the abandonment and reclamation costs in advance through a cash deposit. The total cash deposit amount was calculated to be approximately $1,525,000 and the Company paid $888,000 of the total deposit in July and August 2021

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
RETIREMENT PLANS	RETIREMENT PLANS Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees, with benefits based on years of service and the employee’s highest consecutive 5 years average earnings. Barnwell’s funding policy is intended to provide for both benefits attributed to service to date and for those expected to be earned in the future. In addition, Barnwell sponsors a Supplemental Executive 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 previously sponsored a post-retirement medical insurance benefits plan (“Post-retirement Medical”) covering officers of Barnwell Industries, Inc., the parent company, who have attained at least 20 years of service of which at least 10 years were at the position of Vice President or higher, their spouses and qualifying dependents. In December 2019, the Company’s Board of Directors approved a resolution to freeze all future benefit accruals for all participants under the Company’s Pension Plan and SERP effective December 31, 2019. Consequently, current participants in the Pension Plan and SERP no longer accrue new benefits under the plans and new employees of the Company are no longer eligible to enter the Pension Plan and SERP as participants after December 31, 2019. The freezing of the Pension Plan and SERP triggered a curtailment which required a remeasurement of the projected benefit obligations of the Pension Plan and SERP and resulted in a $1,726,000 reduction in unrecognized pension benefit costs that were previously included in accumulated other comprehensive loss, with a corresponding curtailment gain in other comprehensive income which was recorded during the year ended September 30, 2020. In June 2021, the Company terminated its Post-retirement Medical plan effective June 4, 2021. Pursuant to the Post-retirement Medical plan document, the Company, as the sponsor of the Post-retirement Medical plan, had the right to terminate the plan within sixty days ’ notice to each participant and the plan may be terminated by the resolution of the Board of the Directors of the Company. Further, under the terms of the plan document, the participants in the Post-retirement Medical plan were not entitled to any unpaid vested benefits thereunder upon termination of the plan. The Post-retirement Medical plan was an unfunded plan and the Company funded benefits when payments were made. As a result of the plan termination, the Company recognized a non-cash gain of $2,341,000 during the year ended September 30, 2021. The following tables detail the changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans: Pension SERP Post-retirement Medical September 30, 2021 2020 2021 2020 2021 2020 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 10,280,000 $ 10,971,000 $ 2,031,000 $ 2,385,000 $ 2,839,000 $ 2,633,000 Service cost — 50,000 — 3,000 — — Interest cost 258,000 304,000 51,000 63,000 48,000 80,000 Actuarial (gain) loss (15,000) 504,000 63,000 (90,000) — 134,000 Benefits paid (158,000) (153,000) (9,000) — (5,000) (8,000) Curtailments — (1,396,000) — (330,000) — — Termination of post-retirement medical plan — — — — (2,882,000) — Benefit obligation at end of year 10,365,000 10,280,000 2,136,000 2,031,000 — 2,839,000 Change in Plan Assets: Fair value of plan assets at beginning of year 11,051,000 10,192,000 — — — — Actual return on plan assets 1,701,000 1,012,000 — — — — Employer contributions — — — — 5,000 8,000 Benefits paid (158,000) (153,000) — — (5,000) (8,000) Fair value of plan assets at end of year 12,594,000 11,051,000 — — — — Funded status $ 2,229,000 $ 771,000 $ (2,136,000) $ (2,031,000) $ — $ (2,839,000) Pension SERP Post-retirement Medical September 30, 2021 2020 2021 2020 2021 2020 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 2,229,000 $ 771,000 $ — $ — $ — $ — Current liabilities — — (35,000) (32,000) — (9,000) Noncurrent liabilities — — (2,101,000) (1,999,000) — (2,830,000) Net amount $ 2,229,000 $ 771,000 $ (2,136,000) $ (2,031,000) $ — $ (2,839,000) Amounts recognized in accumulated other comprehensive income (loss) before income taxes: Net actuarial loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000 Prior service cost (credit) — — — — — — Accumulated other comprehensive loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000 Currently, no contributions will be made to the Pension Plan during fiscal 2022. The SERP plan is unfunded and Barnwell funds benefits when payments are made. Expected payments under the SERP for fiscal 2022 is not material. Fluctuations in actual 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. The Pension Plan actuarial gains in fiscal 2021 were primarily due to an increase in the discount rate and actual investment returns that were greater than the assumed rate of return. The SERP actuarial losses in fiscal 2021 were primarily due to an updated mortality projection scale and adjustments due to experience, partially offset by an increase in the discount rate. The Pension Plan actuarial losses in fiscal 2020 were primarily due to a decrease in the discount rate. The SERP actuarial gains in fiscal 2020 were primarily due to the freezing of the plan benefit accruals which decreased the net periodic cost and improved the funded position. The Post-retirement Medical plan actuarial losses in fiscal 2020 were primarily due to a decrease in the discount rate. The following table presents the weighted-average assumptions used to determine benefit obligations and net benefit (income) costs: Pension SERP Post-retirement Medical Year ended September 30, 2021 2020 2021 2020 2021 2020 Assumptions used to determine fiscal year-end benefit obligations: Discount rate 2.84% 2.54% 2.84% 2.54% N/A 2.54% Rate of compensation increase N/A N/A N/A N/A N/A N/A Assumptions used to determine net benefit costs (years ended): Discount rate 2.54% 3.06% / 3.15% (1) 2.54% 3.06% / 3.15% (1) 2.54% / 3.00% (2) 3.06% Expected return on plan assets 5.00% 6.50% N/A N/A N/A N/A Rate of compensation increase N/A 4.00% N/A 4.00% N/A N/A _______________________________________________ (1) 3.06% as of September 30, 2019 and 3.15% as of December 31, 2019 remeasurement. (2) 2.54% as of September 30, 2020 and 3.00% as of May 31, 2021 termination. We select a discount rate by reference to yields available on the FTSE High Grade Credit Index at our consolidated balance sheet date. The expected return on plan assets is primarily based on historical rates of return. The components of net periodic benefit (income) cost are as follows: Pension SERP Post-retirement Medical Year ended September 30, 2021 2020 2021 2020 2021 2020 Net periodic benefit (income) cost for the year: Service cost $ — $ 50,000 $ — $ 3,000 $ — $ — Interest cost 258,000 304,000 51,000 63,000 48,000 80,000 Expected return on plan assets (546,000) (680,000) — — — — Amortization of prior service cost (credit) — 1,000 — (1,000) — — Amortization of net actuarial loss 39,000 35,000 — 5,000 62,000 80,000 Curtailment cost (income) — 53,000 — (53,000) — — Net periodic benefit (income) cost $ (249,000) $ (237,000) $ 51,000 $ 17,000 $ 110,000 $ 160,000 The accumulated benefit obligation differs from the projected benefit obligation in that it assumes future compensation levels will remain unchanged. The accumulated benefit obligation for the Pension Plan was $10,365,000 and $10,280,000 at September 30, 2021 and 2020, respectively. The accumulated benefit obligation for the SERP was $2,136,000 and $2,031,000 at September 30, 2021 and 2020, respectively. The benefits expected to be paid under the retirement plans as of September 30, 2021 are as follows: Pension SERP Expected Benefit Payments: Fiscal year ending September 30, 2022 $ 320,000 $ 35,000 Fiscal year ending September 30, 2023 $ 470,000 $ 97,000 Fiscal year ending September 30, 2024 $ 533,000 $ 123,000 Fiscal year ending September 30, 2025 $ 526,000 $ 122,000 Fiscal year ending September 30, 2026 $ 519,000 $ 121,000 Fiscal years ending September 30, 2027 through 2031 $ 2,840,000 $ 636,000 Plan Assets Management communicates periodically with its professional investment advisors to establish investment policies, direct investments and select investment options. The overall investment objective of the Pension Plan is to attain a diversified combination of investments that provides long-term growth in the assets of the plan to fund future benefit obligations while managing risk in order to meet current benefit obligations. Generally, interest and dividends received provide cash flows to fund current benefit obligations. Longer-term obligations are generally estimated to be provided for by growth in equity securities. The Company’s investment policy permits investments in a diversified mix of U.S. and international equities, fixed income securities and cash equivalents. Barnwell’s investments in fixed income securities include corporate bonds, preferred securities, and fixed income exchange-traded funds. The Company’s investments in equity securities primarily include domestic and international large-cap companies, as well as, domestic and international equity securities exchange-traded funds. The Company’s year-end target allocation, by asset category, and the actual asset allocations were as follows: Target September 30, Asset Category Allocation 2021 2020 Cash and other 0% - 15% —% —% Fixed income securities 15% - 40% 31% 52% Equity securities 45% - 75% 69% 48% Actual investment allocations may vary from our target allocations from time to time due to prevailing market conditions. We periodically review our actual investment allocations and rebalance our investments to our target allocations as dictated by current and anticipated market conditions and required cash flows. We categorize plan assets into three levels based upon the assumptions used to price the assets. Level 1 provides the most reliable measure of fair value, whereas Level 3 requires significant management judgment in determining the fair value. Equity securities and exchange-traded funds are valued by obtaining quoted prices on recognized and highly liquid exchanges. Fixed income securities are valued based upon the closing price reported in the active market in which the security is traded. All of our plan assets are categorized as Level 1 assets, and as such, the actual market value is used to determine the fair value of assets. The following tables set forth by level, within the fair value hierarchy, pension plan assets at their fair value: Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 25,000 $ 25,000 $ — $ — Corporate bonds 1,000 1,000 — — Fixed income exchange-traded funds 3,809,000 3,809,000 — — Preferred securities 48,000 48,000 — — Equity securities exchange-traded funds 459,000 459,000 — — Equities 8,252,000 8,252,000 — — Total $ 12,594,000 $ 12,594,000 $ — $ — Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Corporate bonds $ 1,000 $ 1,000 $ — $ — Fixed income exchange-traded funds 5,762,000 5,762,000 — — Equity securities exchange-traded funds 352,000 352,000 — — Equities 4,936,000 4,936,000 — — Total $ 11,051,000 $ 11,051,000 $ — $ —

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of earnings (loss) before income taxes, after adjusting the earnings (loss) for non-controlling interests, are as follows: Year ended September 30, 2021 2020 United States $ 5,436,000 $ 1,518,000 Canada 1,149,000 (6,271,000) $ 6,585,000 $ (4,753,000) The components of the income tax provision related to the above earnings (loss) are as follows: Year ended September 30, 2021 2020 Current provision (benefit): United States – Federal Before operating loss carryforwards $ 60,000 $ — Benefit of operating loss carryforwards (60,000) — After operating loss carryforwards — — United States – State Before operating loss carryforwards 174,000 (23,000) Benefit of operating loss carryforwards (7,000) — After operating loss carryforwards 167,000 (23,000) Canadian — — Total current 167,000 (23,000) Deferred provision: United States – State 165,000 26,000 Canadian — — Total deferred 165,000 26,000 $ 332,000 $ 3,000 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, and essentially all deferred tax assets, net of relevant offsetting deferred tax liabilities, are not estimated to have a future benefit as tax credits or deductions. Income from our non-controlling interest in the Kukio Resort Land Development Partnerships is treated as non-unitary for state of Hawaii unitary filing purposes, thus unitary Hawaii losses provide limited sheltering of such non-unitary income. Income from our investment in the Oklahoma oil venture is 100% allocable to Oklahoma, and therefore, receives no benefit from consolidated or unitary losses. On June 28, 2019, the Canadian province of Alberta enacted legislation that decreased the provincial general corporate tax rate from 12% to 11% effective July 1, 2019, with further 1% rate reductions on January 1 of every year until the provincial general corporate tax rate is 8% on January 1, 2022, bringing Barnwell of Canada’s and Octavian Oil’s total Canadian statutory tax rates from 30.65% and 27.00%, respectively, to 29.70% and 26.00%, respectively, effective July 1, 2019 and to 26.85% and 23.00%, respectively, effective January 1, 2022. On June 29, 2020, the Government of Alberta introduced Alberta’s Recovery Plan which will, among other things, reduce Alberta’s general corporate income tax rate to 8% (from 10%) effective July 1, 2020. This reduction was enacted in the quarter ended December 31, 2020. Canadian deferred tax assets and liabilities have been measured using the enacted tax rates in effect for the year in which the differences are expected to reverse. Alberta rate changes have no significant impact to earnings/loss as a result of a full valuation allowance being applied to Canadian deferred tax assets. On December 27, 2020, then President Donald Trump signed into law the Consolidated Appropriations Act (the “Act”), an omnibus spending bill to fund the federal government that also includes an array of COVID-related tax relief for individuals and businesses. The tax-related measures contained in the Act revise and expand provisions enacted earlier in the year by the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. The Act also extends a number of expiring tax provisions. Additionally, the Act provides for a 100% deduction for certain business meals incurred in calendar years 2021 and 2022. The Company determined that income tax effects related to the passage of the Consolidated Appropriations Act were not material to the financial statements for the year ended September 30, 2021. A reconciliation between the reported income tax expense and the amount computed by multiplying the earnings (loss) attributable to Barnwell before income taxes by the U.S. federal tax rate of 21% is as follows: Year ended September 30, 2021 2020 Tax provision (benefit) computed by applying statutory rate $ 1,383,000 $ (998,000) Impact of TCJA limitation on post-TCJA net operating loss carryforwards — (260,000) (Decrease) increase in the valuation allowance (1,482,000) 1,978,000 Additional effect of the foreign tax provision on the total tax provision 87,000 (762,000) U.S. state tax provision, net of federal benefit 332,000 3,000 Other 12,000 42,000 $ 332,000 $ 3,000 The changes in the valuation allowance shown in the table above exclude the impact of changes in state taxes and foreign tax credit expiries, the valuation allowance impacts of which are incorporated within the respective reconciliation line items elsewhere in the table. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: September 30, 2021 2020 Deferred income tax assets: Foreign tax credit carryover under U.S. tax law $ 1,197,000 $ 2,421,000 U.S. federal net operating loss carryover 8,846,000 8,874,000 U.S. state unitary net operating loss carryovers 939,000 877,000 Canadian net operating loss carryovers 1,411,000 1,351,000 Tax basis of investment in land in excess of book basis under U.S. tax law 305,000 306,000 Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law 1,091,000 1,421,000 Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law 699,000 931,000 Liabilities accrued for books but not for tax under U.S. tax law 1,225,000 1,894,000 Liabilities accrued for books but not for tax under Canadian tax law 1,813,000 1,591,000 Other 170,000 345,000 Total gross deferred income tax assets 17,696,000 20,011,000 Less valuation allowance (16,398,000) (19,357,000) Net deferred income tax assets 1,298,000 654,000 Deferred income tax liabilities: Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law (1,156,000) (654,000) Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law (352,000) (194,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law (142,000) — U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law (7,000) — Total deferred income tax liabilities (1,657,000) (848,000) Net deferred income tax liability $ (359,000) $ (194,000) Reported as: Deferred income tax assets — — Deferred income tax liabilities (359,000) (194,000) Net deferred income tax liability $ (359,000) $ (194,000) The total valuation allowance decreased $2,959,000 for the year ended September 30, 2021. The decrease was primarily due to a $1,225,000 decrease in the U.S. federal tax law valuation allowance related to U.S. federal net operating loss carryforwards, a $1,224,000 decrease in the U.S. federal tax law valuation allowance related to foreign tax credit carryovers, and a $257,000 decrease in the valuation allowance for deferred tax assets under Canadian law related to property and equipment accumulated book depletion in excess of tax and Canadian jurisdiction net operating loss carryforwards that may not be realizable. Of the total net decrease in the valuation allowance for fiscal 2021, $2,830,000 was recognized as an income tax benefit and $129,000 was credited to accumulated other comprehensive loss. Net deferred tax assets at September 30, 2021 of $1,298,000 consists of the portion of U.S. federal consolidated deferred tax assets that are estimated to be partially realized through corresponding reversals of U.S. federal consolidated deferred tax liabilities related to the Kukio Resort Land Development Partnerships' excess of book income over taxable income and the Oklahoma oil venture's book basis of property and equipment in excess of tax basis. At September 30, 2021, Barnwell had U.S. federal foreign tax credit carryovers, U.S. federal net operating loss carryovers, U.S. state net operating loss carryovers and Canadian net operating loss carryovers totaling $1,197,000, $42,125,000, $14,674,000 and $5,716,000, respectively. All four items were fully offset by valuation allowances at September 30, 2021, except for a portion of Hawaii NOLs which is expected to shelter a portion of the reversal of the Company’s Hawaii non-unitary taxable temporary difference related to its investment in Hawaii land development partnerships. The U.S. federal net operating loss carryovers generated through September 30, 2018 expire in fiscal years 2032-2038, the U.S. state unitary net operating loss carryovers generated through September 30, 2017 expire in fiscal years 2033-2037, the Canadian net operating loss carryovers expire in fiscal years 2037-2041, and the foreign tax credit carryovers expire in fiscal years 2022-2025. The U.S. federal net operating loss carryovers generated in the years ended September 30, 2021, 2020 and 2019 and the U.S. state net operating loss carryovers generated in the years ended September 30, 2021, 2020, 2019 and 2018 have no expiry, however utilization of the U.S. state net operating loss carryovers generated in fiscal 2018 and future years are limited to 80% of taxable income. FASB ASC Topic 740, Income Taxes, prescribes a threshold for recognizing the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by a taxing authority. The Company has no uncertain tax positions as of September 30, 2021 or 2020. Included below is a summary of the tax years, by jurisdiction, that remain subject to examination by taxing authorities at September 30, 2021: Jurisdiction Fiscal Years Open U.S. federal 2018 – 2020 Various U.S. states 2018 – 2020 Canada federal 2014 – 2020 Various Canadian provinces 2014 – 2020

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following tables provide information about disaggregated revenue by revenue streams, reportable segments, geographical region, and timing of revenue recognition for the years ended September 30, 2021 and 2020. Year ended September 30, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 7,617,000 $ — $ — $ — $ 7,617,000 Natural gas 1,871,000 — — — 1,871,000 Natural gas liquids 766,000 — — — 766,000 Drilling and pump — 5,809,000 — — 5,809,000 Contingent residual payments — — 1,738,000 — 1,738,000 Other — — — 304,000 304,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Geographical regions: United States $ 118,000 $ 5,809,000 $ 1,738,000 $ 35,000 $ 7,700,000 Canada 10,136,000 — — 269,000 10,405,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Timing of revenue recognition: Goods transferred at a point in time $ 10,254,000 $ — $ 1,738,000 $ 304,000 $ 12,296,000 Services transferred over time — 5,809,000 — — 5,809,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Year ended September 30, 2020 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 5,214,000 $ — $ — $ — $ 5,214,000 Natural gas 1,119,000 — — — 1,119,000 Natural gas liquids 360,000 — — — 360,000 Drilling and pump — 10,994,000 — — 10,994,000 Contingent residual payments — — 325,000 — 325,000 Other — — — 317,000 317,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000 Geographical regions: United States $ — $ 10,994,000 $ 325,000 $ 6,000 $ 11,325,000 Canada 6,693,000 — — 311,000 7,004,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000 Timing of revenue recognition: Goods transferred at a point in time $ 6,693,000 $ — $ 325,000 $ 317,000 $ 7,335,000 Services transferred over time — 10,994,000 — — 10,994,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000 Contract Balances The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers: September 30, 2021 2020 Accounts receivables from contracts with customers $ 2,797,000 $ 1,772,000 Contract assets 581,000 413,000 Contract liabilities 455,000 1,097,000 Accounts receivables from contracts with customers are included in “Accounts and other receivables, net of allowance for doubtful accounts,” and contract assets, which includes costs and estimated earnings in excess of billings and retainage, are included in “Other current assets.” Contract liabilities, which includes billings in excess of costs and estimated earnings are included in “Other current liabilities” in the accompanying Consolidated Balance Sheets. Retainage, included in contract assets, represents amounts due from customers, but where payments are withheld contractually until certain construction milestones are met. Amounts retained typically range from 5% to 10% of the total invoice, up to contractually-specified maximums. The Company classifies as a current asset those retainages that are expected to be collected in the next twelve months. Contract assets represent the Company’s rights to consideration in exchange for services transferred to a customer that have not been billed as of the reporting date. The Company’s rights are generally unconditional at the time its performance obligations are satisfied. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. As of September 30, 2021 and 2020, the Company had $455,000 and $1,097,000, respectively, included in “Other current liabilities” on the Consolidated Balance Sheets for those performance obligations expected to be completed in the next twelve months. During the years ended September 30, 2021 and 2020, the amount of revenue recognized that was previously included in contract liabilities as of the beginning of the respective period was $1,013,000 and $1,054,000, respectively. Contracts are sometimes modified for a change in scope or other requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the Company’s contract modifications are for goods and services that are not distinct from the existing performance obligations. The effect of a contract modification on the transaction price, and the measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase or decrease) on a cumulative catchup basis. Performance Obligations The Company’s remaining performance obligations for drilling and pump installation contracts (hereafter referred to as “backlog”) represent the unrecognized revenue value of the Company’s contract commitments. The Company’s backlog may vary significantly each reporting period based on the timing of major new contract commitments. In addition, our customers have the right, under some infrequent circumstances, to terminate contracts or defer the timing of the Company’s services and their payments to us. Nearly all of the Company's contract drilling segment contracts have original expected durations of one year or less. At September 30, 2021, the Company had four contract drilling jobs with original expected durations of greater than one year. For these contracts, approximately 13% of the remaining performance obligation of $2,817,000 is expected to be recognized in the next twelve months and the remaining, thereafter. Contract Fulfillment Costs Preconstruction costs, which include costs such as set-up and mobilization, are capitalized and allocated across all performance obligations and deferred and amortized over the contract term on a progress towards completion basis. As of September 30, 2021 and 2020, the Company had $326,000 and $145,000, respectively, in unamortized preconstruction costs related to contracts that were not completed. During the years ended September 30, 2021 and 2020, the amortization of preconstruction costs related to contracts was $224,000 and $163,000, respectively. These amounts have been included in “Contract drilling operating” costs and expenses in the accompanying Consolidated Statements of Operations. Additionally, no impairment charges in connection with the Company’s preconstruction costs were recorded during the years ended September 30, 2021 and 2020. Water Well Re-drill In the quarter ended December 31, 2019, the Company experienced the failure of a hole opener which broke apart leaving pieces in the bottom of a water well being drilled in Hawaii. Efforts to remove the items from the well were unsuccessful through the quarter ended March 31, 2020 and subsequently the Company determined that the well should be abandoned and a new well drilled at no incremental cost to the customer as per the terms of the contract. Accordingly, all the costs to drill and abandon the first well, which are all wasted costs, were excluded from the measurement of progress toward contract completion and all such costs were fully accrued in the quarter ended March 31, 2020, as this contract was determined to be a loss job. In September 2020, while making progress towards the drilling of a replacement well in different location, the drill string twisted off and became lodged in the well borehole, which required a stoppage of drilling and the need to dislodge and retrieve the broken drill string. Accordingly, the estimated total rework costs to remediate the situation was accrued at September 30, 2020. In January 2021, the broken drill string was retrieved from the well borehole and drilling of the replacement well recommenced. Uninstalled Materials Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets. A summary of Barnwell's uninstalled materials is as follows: September 30, 2021 September 30, 2020 Uninstalled materials 226,000 489,000

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHIC INFORMATION Barnwell operates the following segments: 1) acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma (oil and natural gas); 2) investing in land interests in Hawaii (land investment); and 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling). 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. Year ended September 30, 2021 2020 Revenues: Oil and natural gas $ 10,254,000 $ 6,693,000 Contract drilling 5,809,000 10,994,000 Land investment 1,738,000 325,000 Other 304,000 317,000 Total before interest income 18,105,000 18,329,000 Interest income 8,000 18,000 Total revenues $ 18,113,000 $ 18,347,000 Depletion, depreciation, and amortization: Oil and natural gas $ 645,000 $ 1,747,000 Contract drilling 305,000 356,000 Other 13,000 44,000 Total depletion, depreciation, and amortization $ 963,000 $ 2,147,000 Impairment: Oil and natural gas $ 630,000 $ 4,326,000 Contract drilling 38,000 — Land investment — 50,000 Total impairment $ 668,000 $ 4,376,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 2,423,000 $ (4,230,000) Contract drilling (89,000) 3,125,000 Land investment 1,738,000 275,000 Other 291,000 273,000 Gain on sale of assets 1,982,000 1,336,000 Total operating profit 6,345,000 779,000 Equity in income of affiliates: Land investment 5,793,000 352,000 General and administrative expenses (7,088,000) (5,820,000) Interest expense (13,000) (3,000) Interest income 8,000 18,000 Gain on debt extinguishment 149,000 — Gain on termination of post-retirement medical plan 2,341,000 — Earnings (loss) before income taxes $ 7,535,000 $ (4,674,000) Capital Expenditures: Year ended September 30, 2021 2020 Oil and natural gas $ 3,028,000 $ 3,099,000 Contract drilling 62,000 408,000 Other 1,000 7,000 Total $ 3,091,000 $ 3,514,000 Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 8 for additional details). Assets By Segment: September 30, 2021 2020 Oil and natural gas (1) $ 6,401,000 $ 3,613,000 Contract drilling (2) 4,071,000 3,838,000 Land investment (2) — 901,000 Other: Cash and cash equivalents 11,279,000 4,584,000 Corporate and other 2,684,000 2,246,000 Total $ 24,435,000 $ 15,182,000 ______________ (1) L ocated primarily in the province of Alberta, Canada with a minor portion in Oklahoma. (2) Located in Hawaii. Long-Lived Assets By Geographic Area: September 30, 2021 2020 United States $ 4,180,000 $ 3,393,000 Canada 2,220,000 2,302,000 Total $ 6,400,000 $ 5,695,000 Revenue By Geographic Area: Year ended September 30, 2021 2020 United States $ 7,700,000 $ 11,325,000 Canada 10,405,000 7,004,000 Total (excluding interest income) $ 18,105,000 $ 18,329,000

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Sep. 30, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Components of accumulated other comprehensive income (loss), net of taxes, are as follows: Year ended September 30, 2021 2020 Foreign currency translation: Beginning accumulated foreign currency translation $ 545,000 $ 691,000 Change in cumulative translation adjustment before reclassifications (283,000) (146,000) Income taxes — — Net current period other comprehensive loss (283,000) (146,000) Ending accumulated foreign currency translation 262,000 545,000 Retirement plans: Beginning accumulated retirement plans benefit cost (1,980,000) (3,608,000) Amortization of net actuarial loss and prior service cost 101,000 120,000 Net actuarial gains arising during the period 1,108,000 1,508,000 Gain on termination of post-retirement medical plan 541,000 — Income taxes — — Net current period other comprehensive income 1,750,000 1,628,000 Ending accumulated retirement plans benefit cost (230,000) (1,980,000) Accumulated other comprehensive income (loss), net of taxes $ 32,000 $ (1,435,000) The amortization of net actuarial loss and prior service cost for the retirement plans are included in the computation of net periodic benefit (income) cost which is a component of “General and administrative” expenses on the accompanying Consolidated Statements of Operations (see Note 9 for additional details).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts and other receivables, accounts payable and accrued current liabilities approximate their fair values due to the short-term nature of the instruments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The estimated fair values of oil and natural gas properties and the asset retirement obligation incurred in the drilling of oil and natural gas wells or assumed in the acquisitions of additional oil and natural gas working interests are based on an estimated discounted cash flow model and market assumptions. The significant Level 3 assumptions used in the calculation of estimated discounted cash flows included future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount of future development, operating and asset retirement costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates. See Note 7 for additional information regarding oil and natural gas property acquisitions. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires

DEBT

DEBT	12 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Paycheck Protection Program Loan On April 28, 2020, the Company, as obligor, entered into a promissory note evidencing an unsecured loan in the approximate amount of $147,000 under the PPP pursuant to the CARES Act that was signed into law in March 2020. The note was to mature two years after the date of the loan disbursement with interest at a fixed annual rate of 1.00%, and with the principal and interest payments deferred until ten months after the last day of the covered period. In April 2021, the Company was notified by the lender of our PPP loan that the entire PPP loan amount and related accrued interest was forgiven by the Small Business Administration. As a result of the loan forgiveness, the Company recognized a gain on debt extinguishment of $149,000 during the year ended September 30, 2021. Canada Emergency Business Account Loan

LEASES

LEASES	12 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES AND GAIN ON SALE OF ASSET	LEASES The Company’s right-of-use (“ROU”) assets and lease liabilities at September 30, 2021, primarily relate to non-cancelable operating leases for our Hawaii corporate and Canadian office spaces and our leasehold land interest for Lot 4C held by Kaupulehu Developments. Management determines if a contract is or contains a lease at inception of the contract or modification of the contract. A contract is or contains a lease if the contract conveys the right to control the use of the asset for a period in exchange for consideration. Operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. The Company’s leases do not provide a readily determinable implicit rate; therefore, management uses the Company’s incremental borrowing rate to discount lease payments based on information available at lease commencement. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease terms. The Company has lease agreements with lease and non-lease components and the non-lease components are excluded in the calculation of the ROU asset and lease liability and expensed as incurred. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. A ROU asset and corresponding lease liability is not recorded for leases with an initial term of 12 months or less (short-term leases) as the Company recognizes lease expense for these leases as incurred over the lease term. Leases recorded on the balance sheet consist of the following: September 30, 2021 2020 Assets: Operating lease right-of-use assets $ 296,000 $ 249,000 Total right-of-use assets $ 296,000 $ 249,000 Liabilities: Current portion of operating lease liabilities $ 117,000 $ 111,000 Operating lease liabilities 180,000 143,000 Total lease liabilities $ 297,000 $ 254,000 The components of lease expenses are as follows: Year ended September 30, 2021 2020 Operating lease cost $ 130,000 $ 334,000 Short-term lease cost 254,000 69,000 Variable lease cost 103,000 — Total lease cost $ 487,000 $ 403,000 Supplemental information related to leases is as follows: September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 133,000 $ 189,000 Operating leases: Weighted-average remaining lease term (in years) 2.9 3.4 Weighted-average discount rate 5.19% 5.85% The remaining lease payments for our operating leases as of September 30, 2021, are as follows: Fiscal year ending: 2022 $ 129,000 2023 97,000 2024 58,000 2025 30,000 2026 7,000 Thereafter through 2027 — Total lease payments 321,000 Less: amounts representing interest (24,000) Present value of lease liabilities $ 297,000 The lease payments for the Lot 4C leasehold land were subject to renegotiation as of January 1, 2006. Per the lease agreement, the lease payments will remain unchanged pending an appraisal, whereupon the lease rent could be adjusted to fair market value. Barnwell does not know the amount of the new lease payments which could be effective upon performance of the appraisal; they may remain unchanged or increase, and Barnwell currently expects the adjustment, if any, to not be material. The future lease payment disclosures above assume the minimum lease payments for leasehold land in effect at December 31, 2005 remain unchanged through December 2025, the end of the lease term. Gain on sale of leased asset

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	12 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	STOCKHOLDERS' EQUITY (DEFICIT) Share-based Compensation 2018 Equity Incentive Plan The Company’s stock option plans are administered by the Compensation Committee of the Board of Directors. The stockholder-approved 2018 Equity Incentive Plan provides for the issuance of incentive stock options, nonstatutory stock options, stock options with stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants to employees, consultants and non-employee members of the Board of Directors. 800,000 shares of Barnwell common stock have been reserved for issuance and as of September 30, 2021, a total of 135,000 share options remain available for grant. Barnwell currently has a policy of issuing new shares to satisfy share option exercises when the optionee requests shares. Equity-classified Awards On February 9, 2021, the Board of Directors of the Company granted options to purchase 665,000 shares of common stock, 310,000 shares to independent directors and 355,000 shares to employees. 605,000 shares of the stock options granted have an exercise price equal to the closing market price of Barnwell’s stock on the date of grant of $3.33, vest annually over three years, and expire in ten years from the date of grant. 60,000 shares of the stock options granted have an exercise price of $3.66 (110% of the closing market price on the date of grant for options granted to affiliates), vest annually over three years, and expire in five years from the date of grant. A summary of the activity in Barnwell’s equity-classified share options from October 1, 2020 through September 30, 2021 is presented below: Options Shares Weighted- Weighted- Aggregate Outstanding at October 1, 2020 — $ — Granted 665,000 3.36 Exercised — — Expired/Forfeited (50,000) 3.33 Outstanding at September 30, 2021 615,000 $ 3.36 8.9 $ — Exercisable at September 30, 2021 — $ — — $ — The following assumptions were used in estimating the fair value of the equity-classified share options granted on February 9, 2021: > 10% Owner-Employee Others Number of shares 60,000 605,000 Expected volatility 127.4% 105.8% Expected dividends None None Expected term (in years) 3.5 6.0 Risk-free interest rate 0.19% 0.82% Expected forfeitures None None Fair value per share $2.51 $2.70 The application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation, and consequently, the related costs reported in the “General and administrative” expenses in the Consolidated Statements of Operations. Compensation cost for equity-classified awards is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period. During the year ended September 30, 2021, the Company recognized total share-based compensation expense of $643,000. There was no share-based compensation expense recognized during the year ended September 30, 2020. Additionally, there was no impact on income taxes for the years ended September 30, 2021 and 2020 due to a full valuation allowance on the related deferred tax asset. As of September 30, 2021, the total remaining unrecognized compensation cost related to nonvested share options was $1,005,000, which is expected to be recognized over the weighted-average remaining requisite service period of 2.4 years. At The Market Offering On March 16, 2021, the Company entered into a Sales Agreement (the “Sales Agreement”) with A.G.P./Alliance Global Partners (“A.G.P,”), with respect to the ATM pursuant to which the Company may offer and sell, from time to time, shares of its common stock, par value $0.50 per share, having an aggregate sales price of up to $25 million (subject to certain limitations at any time our public float remains under $75 million), through or to A.G.P as the Company’s sales agent or as principal. Sales of our common stock under the ATM, if any, will be made by any methods deemed to be “at the market offerings” as defined in Rule 415(a)(4) under the Securities Act, including sales made directly on the NYSE American, on any other existing trading market for our Common Stock, or to or through a market maker. Shares of common stock sold under the ATM are offered pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-254365), filed with the Securities and Exchange Commission on March 16, 2021, and declared effective on March 26, 2021 (the "Registration Statement”), and the prospectus dated March 26, 2021, included in the Registration Statement. The sale of shares under the ATM began in May 2021 and as of September 30, 2021, the Company sold 1,167,987 shares of common stock resulting in net proceeds of $3,784,000 after commissions and fees of $123,000.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Incentive compensation plan In fiscal 2020, Barnwell established an incentive compensation plan to compensate all Canadian oil and natural gas segment personnel and an incentive compensation plan to compensate Canadian executive officers. The value of the plans are directly related to our oil and natural gas segment's free cash flows and the divestiture of oil and natural gas assets. As of September 30, 2021, Barnwell has accrued approximately $325,000 in bonus compensation under these plans and the amount is reported in “Accrued compensation” on the Consolidated Balance Sheet at September 30, 2021. Environmental Matters Because of the inherent uncertainties associated with environmental assessment and remediation activities, future expenses to remediate sites identified in the future, if any, could be incurred. Barnwell's management is not currently aware of any significant environmental contingent liabilities requiring disclosure or accrual. Legal and Regulatory Matters Barnwell is routinely involved in disputes with third parties that occasionally require litigation. In addition, Barnwell is required to maintain compliance with all current governmental controls and regulations in the ordinary course of business. Barnwell’s management is not aware of any claims or litigation involving Barnwell that are likely to have a material adverse effect on its results of operations, financial position or liquidity. In the year ended September 30, 2019, two of the water wells drilled by the contract drilling segment for one customer were determined to not meet the contract specifications for plumbness. Subsequently, in the quarter ended March 31, 2020, the Company executed a separate five-year warranty agreement with the customer for one of the wells that did not meet plumbness. Under the terms of the agreement, if the lack of plumbness is determined to be the cause of a pump failure within the warranty period, the Company would be obligated to replace the pump at no cost to the customer. If the Company is unable to replace the pump using industry-standard methods, or if there are two or more pump failures attributable to lack of plumbness within the five-year warranty period, the Company would be obligated to drill a new well at no cost to the customer. Negotiations with the customer are currently ongoing for the other well that the customer claims did not meet plumbness despite the fact that the independent consulting engineer for the job concluded that the most recent plumbness test, completed after the well was cased with casing cemented into place as per the contract, showed that the well meets the plumbness specifications of the contract. Management believes the degrees of deviation for both wells are not impactful to the performance of the submersible pumps that will be installed in those wells. Accordingly, no accruals have been recorded as of September 30, 2021 as there is no probable or estimable contingent liability. In July 2020, the Staff of the Commission circulated a draft of a proposed recommendation to the Commission under which the Company, the water utility, the water utility's independent hydrologist firm and the owner of the land on which the two aforementioned water wells were drilled would be assessed penalty fines because each of the wells were calculated to have been drilled beyond the depth permitted by the permit. The wells were drilled to a depth to penetrate certain layers of impermeable rock necessary to access the aquifer at the instructions and on the advice of the hydrologist hired by the owner of the well. The Company’s share of the proposed penalties and fines was originally calculated to approximately $1,200,000. Subsequently, the Staff of the Commission acknowledged that one well had not been drilled to a depth beyond its permitted depth and the fines on that well were eliminated. Additionally, the fines applicable to the depth of the second well were dropped in lieu of the parties entering into an agreement to perform a water quality study and repurpose a current well into a monitoring well. Accordingly, the Company recorded a contingent liability of approximately $300,000 at September 30, 2020 and no subsequent revision to the accrual has been recorded as of September 30, 2021. Other Matters Barnwell is obligated to pay Nearco Enterprises Ltd. 10.4%, net of non-controlling interests' share, of Kaupulehu Developments’ gross receipts from real estate transactions. The fees represent compensation for promotion and marketing of Kaupulehu Developments’ property and were determined based on the estimated fair value of such services. These fees are included in general and administrative expenses. Barnwell is obligated to pay its external real estate legal counsel 1.2%, net of non-controlling interests' share, of all Increment II payments received by Kaupulehu Developments for services provided by its external real estate legal counsel in the negotiation and closing of the Increment II transaction. These fees are included in general and administrative expenses.

INFORMATION RELATING TO THE CON

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS	INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS The following table details the effect of changes in current assets and liabilities on the Consolidated Statements of Cash Flows, and presents supplemental cash flow information: Year ended September 30, 2021 2020 Increase (decrease) from changes in: Receivables $ (814,000) $ (598,000) Income tax receivable 457,000 129,000 Other current assets (920,000) 260,000 Accounts payable (746,000) 924,000 Accrued compensation 668,000 203,000 Other current liabilities (796,000) (470,000) (Decrease) increase from changes in current assets and liabilities $ (2,151,000) $ 448,000 Supplemental disclosure of cash flow information: Cash paid (received) during the year for: Income taxes refunded, net $ (303,000) $ (166,000) Supplemental disclosure of non-cash investing activities: Canadian income tax withholding on proceeds from the sale of oil and natural gas properties $ 598,000 $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Kaupulehu Developments is entitled to receive payments from the sales of lots and/or residential units by KD I and KD II. KD I and KD II are part of the Kukio Resort Land Development Partnerships in which Barnwell holds indirect 19.6% and 10.8% non-controlling ownership interests, respectively, accounted for under the equity method of investment. The percentage of sales 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. Changes to the arrangement above, effective March 7, 2019, are discussed in Note 4. During the year ended September 30, 2021, Barnwell received $1,738,000 in percentage of sales payments from KD I from the sale of eight lots within Phase II of Increment I. During the year ended September 30, 2020, Barnwell received $325,000 in percentage of sales payments from KD I from the sale of two lots within Phase II of Increment I.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Kukio Resort Land Development Partnerships and Sale of Interest in Leasehold Land Subsequent to September 30, 2021, Kaupulehu Developments received percentage of sales payments totaling $600,000 from the sale of three lots within Phase II of Increment I. Financial results from the receipt of these payments will be reflected in Barnwell's quarter ending December 31, 2021. Additionally, subsequent to September 30, 2021, Barnwell received net cash distributions in the amount of $1,075,000 from the Kukio Resort Land Development Partnerships. Financial results of this distribution will be reflected in Barnwell's quarter ending December 31, 2021. Contract Segment Drilling Rig and Equipment

SUMMARY OF SELECTED QUARTERLY F

SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Sep. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Disclosure is not required as Barnwell qualifies as a smaller reporting company.

SUPPLEMENTARY OIL AND NATURAL G

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)	12 Months Ended
	Sep. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)	SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) The following tables summarize information relative to Barnwell’s oil and natural gas operations, which are conducted in Canada and in the U.S state of Oklahoma. Proved reserves are the estimated quantities of oil, natural gas and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved producing oil and natural gas reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. The estimated net interests in total proved and proved producing reserves are based upon subjective engineering judgments and may be affected by the limitations inherent in such estimations. The process of estimating reserves is subject to continual revision as additional information becomes available as a result of drilling, testing, reservoir studies and production history. There can be no assurance that such estimates will not be materially revised in subsequent periods. (A) Oil and Natural Gas Reserves The following table summarizes changes in the estimates of Barnwell’s net interests in total proved reserves of oil and natural gas liquids and natural gas, which are all in Canada. Proved oil, natural gas liquids and natural gas reserves located in the U.S. state of Oklahoma are not significant and are therefore not included in the table below. All of the information regarding Canadian reserves in this Form 10-K is derived from the report of our independent petroleum reserve engineers, InSite, and is included as an Exhibit to this Form 10-K. The Company emphasizes that reserve estimates are inherently imprecise and that estimates of new discoveries and undeveloped locations are more imprecise than estimates of established proved producing oil and natural gas properties. Accordingly, these estimates are expected to change as future information becomes available. Proved oil and natural gas reserves are the estimated quantities of oil and natural gas that geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under economic and operating conditions (i.e., prices and costs) existing at the time the estimate is made. Proved developed oil and natural gas reserves are proved reserves that can be expected to be recovered through existing wells and equipment in place and under operating methods being utilized at the time the estimates were made. OIL & NGL GAS Total Proved reserves: Balance at September 30, 2019 1,419,000 4,520,000 2,198,000 Revisions of previous estimates (740,000) (1,746,000) (1,041,000) Acquisitions of reserves 68,000 628,000 176,000 Less sales of reserves (38,000) (443,000) (114,000) Less production (174,000) (649,000) (286,000) Balance at September 30, 2020 535,000 2,310,000 933,000 Revisions of previous estimates 291,000 1,345,000 523,000 Acquisitions of reserves 80,000 289,000 130,000 Less sales of reserves (97,000) (341,000) (156,000) Less production (169,000) (690,000) (288,000) Proved Reserves, September 30, 2021 640,000 2,913,000 1,142,000 Proved Developed Reserves, September 30, 2021 636,000 2,913,000 1,138,000 Proved Undeveloped Reserves, September 30, 2021 4,000 — 4,000 (B) Capitalized Costs Relating to Oil and Natural Gas Producing Activities All capitalized costs relating to oil and natural gas producing activities in Canada and the U.S. are summarized as follows: September 30, 2021 Canada United States Total Proved properties $ 58,273,000 $ 217,000 $ 58,490,000 Unproved properties — 962,000 962,000 Total capitalized costs 58,273,000 1,179,000 59,452,000 Accumulated depletion, depreciation, and impairment 56,053,000 14,000 56,067,000 Net capitalized costs $ 2,220,000 $ 1,165,000 $ 3,385,000 September 30, 2020 Canada United States Total Proved properties $ 64,142,000 $ — $ 64,142,000 Unproved properties — — — Total capitalized costs 64,142,000 — 64,142,000 Accumulated depletion, depreciation, and impairment 61,839,000 — 61,839,000 Net capitalized costs $ 2,303,000 $ — $ 2,303,000 (C) Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Year ended September 30, 2021 Canada United States Total Acquisition of properties: Proved $ 1,032,000 $ 70,000 $ 1,102,000 Unproved — — — Exploration costs 255,000 — 255,000 Development costs 563,000 1,108,000 1,671,000 Total $ 1,850,000 $ 1,178,000 $ 3,028,000 Year ended September 30, 2020 Canada United States Total Acquisition of properties: Proved $ 242,000 $ — $ 242,000 Unproved — — — Development costs 2,857,000 — 2,857,000 Total $ 3,099,000 $ — $ 3,099,000 Costs incurred in the tables above include additions and revisions to Barnwell’s asset retirement obligation of $811,000 and $(52,000) for the years ended September 30, 2021 and 2020, respectively. (D) Results of Operations for Oil and Natural Gas Producing Activities Year ended September 30, 2021 Canada United States Total Net revenues $ 10,136,000 $ 118,000 $ 10,254,000 Production costs (6,532,000) (24,000) (6,556,000) Depletion (631,000) (14,000) (645,000) Reduction of carrying value of oil and natural gas properties (630,000) — (630,000) Pre-tax results of operations (1) 2,343,000 80,000 2,423,000 Estimated income tax expense (2) — — — Results of operations (1) $ 2,343,000 $ 80,000 $ 2,423,000 Year ended September 30, 2020 Canada United States Total Net revenues $ 6,693,000 $ — $ 6,693,000 Production costs (4,850,000) — (4,850,000) Depletion (1,747,000) — (1,747,000) Reduction of carrying value of oil and natural gas properties (4,326,000) — (4,326,000) Pre-tax results of operations (1) (4,230,000) — (4,230,000) Estimated income tax expense (2) — — — Results of operations (1) $ (4,230,000) $ — $ (4,230,000) _________________ (1) Before gain on sale of oil and natural gas properties, general and administrative expenses, interest expense, and foreign exchange gains and losses. (2) Estimated income tax expense includes changes to the deferred income tax valuation allowance necessary for the portion of Canadian and U.S. federal tax law deferred tax assets that may not be realizable. (E) Standardized Measure, Including Year-to-Year Changes Therein, of Estimated Discounted Future Net Cash Flows The following tables utilize reserve and production data estimated by independent petroleum reserve engineers. The information may be useful for certain comparison purposes but should not be solely relied upon in evaluating Barnwell or its performance. Moreover, the projections should not be construed as realistic estimates of future cash flows, nor should the standardized measure be viewed as representing current value. Additionally, proved oil, natural gas and natural gas liquids reserves located in the United States are not significant and are therefore not included in the tables below. The estimated future cash flows at September 30, 2021 and 2020 were based on average sales prices in effect on the first day of the month for the preceding twelve month period in accordance with SEC Release No. 33-8995. The future production and development costs represent the estimated future expenditures that we will incur to develop and produce the proved reserves, assuming continuation of existing economic conditions. The future income tax expenses were computed by applying statutory income tax rates in existence at September 30, 2021 and 2020 to the future pre-tax net cash flows relating to proved reserves, net of the tax basis of the properties involved. Material revisions to reserve estimates may occur in the future, development and production of the oil and natural gas reserves may not occur in the periods assumed and actual prices realized and actual costs incurred are expected to vary significantly from those used. Management does not rely upon this information in making investment and operating decisions; rather, those decisions are based upon a wide range of factors, including estimates of probable reserves as well as proved reserves and price and cost assumptions different than those reflected herein. Barnwell has included all abandonment, decommissioning and reclamation costs and inactive well costs in accordance with best practice recommendations into the Company’s reserve reports. Standardized Measure of Discounted Future Net Cash Flows September 30, 2021 2020 Future cash inflows $ 36,130,000 $ 20,426,000 Future production costs (25,323,000) (17,860,000) Future development costs (240,000) (73,000) Future income tax expenses (995,000) (92,000) Future net cash flows excluding abandonment, decommissioning and reclamation 9,572,000 2,401,000 Future abandonment, decommissioning and reclamation (14,525,000) (13,055,000) Future net cash flows (4,953,000) (10,654,000) 10% annual discount for timing of cash flows 7,598,000 8,969,000 Standardized measure of discounted future net cash flows $ 2,645,000 $ (1,685,000) Changes in the Standardized Measure of Discounted Future Net Cash Flows Year ended September 30, 2021 2020 Beginning of year $ (1,685,000) $ 2,310,000 Sales of oil and natural gas produced, net of production costs (3,604,000) (1,843,000) Net changes in prices and production costs, net of royalties and wellhead taxes 5,702,000 (1,876,000) Net change due to purchases and sales of minerals in place (882,000) 467,000 Previously estimated development costs incurred — 1,305,000 Changes in future development costs — 7,773,000 Revisions of previous quantity estimates 4,217,000 (10,274,000) Net change in income taxes (845,000) 288,000 Accretion of discount (176,000) 230,000 Other - changes in the timing of future production and other (55,000) (63,000) Other - net change in Canadian dollar translation rate (27,000) (2,000) Net change 4,330,000 (3,995,000) End of year $ 2,645,000 $ (1,685,000)

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The 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), and a variable interest entity (Teton Barnwell Fund I, LLC) for which the Company is deemed to be the primary beneficiary. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of the consolidated 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 assumptions are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements, obligations for retirement plans, contract drilling estimated costs to complete, proved oil and natural gas reserves, and the carrying value of other assets, and such assumptions may impact the amount at which such items are recorded.
Revenue Recognition	Revenue Recognition Barnwell operates in and derives revenue from the following three principal business segments: • Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and Oklahoma. • Land Investment Segment - Barnwell invests in land interests in Hawaii. • Contract Drilling Segment - Barnwell provides well drilling services and water pumping system installation and repairs in Hawaii. Oil and Natural Gas - Barnwell’s investments in oil and natural gas properties are located in Alberta, Canada and Oklahoma. These property interests are principally held under governmental leases or licenses. Barnwell sells the large majority of its oil, natural gas and natural gas liquids production under short-term contracts between itself and marketers based on prices indexed to market prices and recognizes revenue at a point in time when the oil, natural gas and natural gas liquids are delivered, as this is where Barnwell’s performance obligation is satisfied and title has passed to the customer. Land Investment - Barnwell is entitled to receive contingent residual payments from the entities that previously purchased Barnwell’s land investment interests under contracts entered into in prior years. The residual payments under those contracts become due when the entities sell lots and/or residential units in the areas that were previously sold under the aforementioned contracts or when a preferred payment threshold is achieved. The residual payments received by Barnwell are recognized as revenue when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Contract Drilling - Through contracts which are normally less than twelve months in duration, Barnwell drills water and water monitoring wells and installs and repairs water pumping systems in Hawaii. Barnwell recognizes revenue from well drilling or the installation of pumps over time based on total costs incurred on the projects relative to the total expected costs to satisfy the performance obligation as management believes this is an accurate representation of the percentage of completion as control is continuously transferred to the customer. Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets until control is transferred to the customer. When the estimate on a contract indicates a loss, Barnwell records the entire estimated loss in the period the loss becomes known. The contract price may include variable consideration, which includes such items as increases to the transaction price for unapproved change orders and claims for which price has not yet been agreed by the customer. The Company estimates variable consideration using either the most likely amount or expected value method, whichever is a more appropriate reflection of the amount to which it expects to be entitled based on the characteristics and circumstances of the contract. Variable consideration is included in the estimated transaction price to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. Contract price and cost estimates are reviewed periodically as work progresses and adjustments proportionate to the costs incurred to date to total estimated costs at completion are reflected in contract revenues in the reporting period when such estimates are revised. The nature of accounting for these contracts is such that refinements of the estimated costs to complete may occur and are characteristic of the estimation process due to changing conditions and new developments. Many factors and assumptions can and do change during a contract performance obligation period which can result in a change to contract profitability including unforeseen underground geological conditions (to the extent that contract remedies are unavailable), the availability and costs of skilled contract labor, the performance of major material suppliers, the performance of major subcontractors, unusual weather conditions and unexpected changes in material costs, changes in the scope and nature of the work to be performed, and unexpected construction execution errors, among others. These factors may result in revisions to costs and income and are recognized in the period in which the revisions become known. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. Management evaluates the performance of contracts on an individual basis. In the ordinary course of business, but at least quarterly, we prepare updated estimates that may impact the cost and profit or loss for each contract based on actual results to date plus management's best estimate of costs to be incurred to complete each performance obligation. The cumulative effect of revisions in estimates of the total forecasted revenue and costs, including any unapproved change orders and claims, during the course of the contract is reflected in the accounting period in which the facts that caused the revision become known. Changes in the cost estimates can have a material impact on our consolidated financial statements and are reflected in the results of operations when they become known. Unexpected significant inefficiencies that were not considered a risk at the time of entering into the contract, such as design or construction execution errors that result in significant wasted resources, are excluded from the measure of progress toward completion and the costs are expensed as incurred. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. Contract liabilities are included in “Other current liabilities” on the Company’s Consolidated Balance Sheets. Costs and estimated earnings in excess of billings represent certain amounts under customer contracts that were earned and billable, but yet not invoiced, and are included in contract assets and reported in “Other current assets” on the Company’s Consolidated Balance Sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and short-term investments with original maturities of three months or less.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain bank account balances with high quality financial institutions which often exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash.
Accounts and Other Receivables	Accounts and Other Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is Barnwell’s best estimate of the amount of probable credit losses in Barnwell’s existing accounts receivable and is based on historical write-off experience and the application of the specific identification method. Account balances are charged off against the allowance after all means of
Investments in Real Estate	Investments in Real Estate Barnwell accounts for sales of Increment I and Increment II leasehold land interests under the full accrual method. Gains from such sales were recognized when the buyer’s investments were adequate to demonstrate a commitment to pay for the property, risks and rewards of ownership transferred to the buyer, and Barnwell did not have a substantial continuing involvement with the property sold. With regard to payments Kaupulehu Developments is entitled to receive from KD I and KD II, the percentage of sales payments from KD I and KD II and percentage of distributions from KD II are contingent future profits which will be recognized when they are realized. All costs of the sales of Increment I and Increment II leasehold land interests were recognized at the time of sale and were not deferred to future periods when any contingent profits will be recognized.
Variable Interest Entities	The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is the primary beneficiary, may require significant judgment. Barnwell analyzes its entities in which it has a variable interest to determine whether the entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. Entities that have been determined to be VIEs and for which we have a controlling financial interest and are therefore the VIE’s primary beneficiary are consolidated (see Note 5). Entities that have been determined to be VIEs and for which we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary are not consolidated. These unconsolidated entities are accounted for under the equity method (see Note 4).
Equity Method Investments	Equity Method Investments Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3% to 5% ownership interest and does not control, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments and other adjustments required by the equity method. Gains or losses are realized when such investments are sold. Barnwell classifies distributions received from equity method investments using the cumulative earnings approach in the Consolidated Statements of Cash Flows. Under the cumulative earnings approach, distributions received up to the amount of cumulative equity in earnings recognized are treated as returns on investment and are classified within operating cash flows and those in excess of that amount are treated as returns of investment and are classified within investing cash flows.
Oil and Natural Gas Properties	Oil and Natural Gas Properties Barnwell uses the full cost method of accounting under which all costs incurred in the acquisition, exploration and development of oil and natural gas reserves, including costs related to unsuccessful wells and estimated future site restoration and abandonment, are capitalized. We capitalize internal costs that can be directly identified with our acquisition, exploration and development activities and do not include any costs related to production, general corporate overhead or similar activities. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. Costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unevaluated and unproved properties are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under the full cost method of accounting, we review the carrying value of our oil and natural gas properties, on a country-by-country basis, each quarter in what is commonly referred to as the ceiling test. Under the ceiling test, capitalized costs, net of accumulated depletion and oil and natural gas related deferred income taxes, may not exceed an amount equal to the sum of 1) the discounted present value (at 10%), using average first-day-of-the-month prices during the 12-month period ending as of the balance sheet date held constant over the life of the reserves, of Barnwell’s estimated future net cash flows from estimated production of proved oil and natural gas reserves as determined by independent petroleum reserve engineers, less estimated future expenditures to be incurred in developing and producing the proved reserves but excluding future cash outflows associated with settling asset retirement obligations with the exception of those associated with proved undeveloped reserves from wells that are to be drilled in the future; plus 2) the cost of major development projects and unproven properties not subject to depletion, if any; plus 3) the lower of cost or estimated fair value of unproven properties included in costs subject to depletion; less 4) related income tax effects. If net capitalized costs exceed this limit, the excess is expensed. Depletion is computed using the units-of-production method whereby capitalized costs, net of estimated salvage values, plus estimated future costs to develop proved reserves and satisfy asset retirement obligations, are amortized over the total estimated proved reserves on a country-by-country basis. Investments in major development projects are not depleted until either proved reserves are associated with the projects or impairment has been determined. Proceeds from the disposition of oil and natural gas properties are credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves in a particular country. Given the volatility of oil and gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved oil and gas reserves could change in the near term. If oil and gas prices decline in the future, even if only for a short period of time, it is possible that impairments of oil and gas properties could occur. In addition, it is reasonably possible that impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved oil and gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved oil and gas reserves. Barnwell’s sales reflect its working interest share after royalties. Barnwell’s production is generally delivered and sold at the plant gate. Barnwell does not have transportation volume commitments with pipelines and does not have natural gas imbalances related to natural gas balancing arrangements with its partners.
Acquisitions	AcquisitionsIn accordance with the guidance for business combinations, Barnwell determines whether an acquisition is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method of accounting. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Under both methods purchase prices are allocated to acquired assets and assumed liabilities based on their estimated fair value at the time of the acquisition. For transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company capitalizes acquisition-related costs and fees associated with asset acquisitions and immediately expenses acquisition-related costs and fees associated with business combinations.
Long-lived Assets	Long-lived Assets Long-lived assets to be held and used, other than oil and natural gas properties, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future net cash flows expected to result from use of the asset (undiscounted and without interest charges). If it is determined that the asset may not be recoverable, impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of the asset carrying value or fair value, less cost to sell. Water well drilling rigs, office and other property and equipment are depreciated using the straight-line method based on estimated useful lives.
Share-based Compensation	Share-based Compensation Share-based compensation cost is measured at fair value. Barnwell utilizes a closed-form valuation model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of Barnwell’s stock over a period consistent with that of the expected terms of the options. The expected terms of the options represent expectations of future employee exercise and are estimated based on factors such as vesting periods, contractual expiration dates, historical trends in Barnwell’s stock price, and historical exercise behavior. If the Company does not have sufficient historical data regarding employee exercise behavior, the “simplified method” as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment is utilized to estimate the expected terms of the options. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms. Expected dividends are based on current and historical dividend payments. The Company's policy is to recognize forfeitures as they occur.
Retirement Plans	Retirement Plans Barnwell accounts for its defined benefit pension plan, Supplemental Executive Retirement Plan, and post-retirement medical insurance benefits plan, which was terminated in June 2021, by recognizing the over-funded or under-funded status as an asset or liability in its Consolidated Balance Sheets and recognizes changes in that funded status in the year in which the changes occur through comprehensive income. See further discussion at Note 9. The estimation of Barnwell’s retirement plan obligations, costs and liabilities requires management to estimate the amount and timing of cash outflows for projected future payments and cash inflows for maturities and expected returns on plan assets. These assumptions may have an effect on the amount and timing of future contributions. At the end of each year, Barnwell determines the discount rate to be used to calculate the present value of plan liabilities and the net periodic benefit cost. The discount rate is an estimate of the current interest rate at which the retirement plan liabilities could be effectively settled at the end of the year. In estimating this rate, Barnwell performs a cash-flow matching discount rate analysis developed using high-quality corporate bonds yield. The discount rate used to value the future benefit obligation as of each year-end is the rate used to determine the periodic benefit cost in the following year. The expected long-term return on assets assumption for the pension plans represents the average rate of return to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. The actual fair value of plan assets and estimated rate of return is used to determine the expected investment return during the year. The estimated rate of return on plan assets is based on an estimate of future experience for plan asset returns, the mix of plan assets, current market conditions, and expectations for future market conditions. A decrease (increase) of 50 basis points in the expected return on assets assumption would increase (decrease) pension expense by approximately $62,000 based on the assets of the plan at September 30, 2021.
Asset Retirement Obligation	Asset Retirement Obligation Barnwell accounts for asset retirement obligations by recognizing the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires assumptions and judgments regarding the existence of liabilities, the amount and timing of cash outflows required to settle the liability, what constitutes adequate restoration, inflation factors, credit adjusted discount rates, and consideration of changes in legal, regulatory, environmental and political environments. Abandonment and restoration cost estimates are determined in conjunction with Barnwell’s reserve engineers based on historical information regarding costs incurred to abandon and restore similar well sites, information regarding current market conditions and costs, and knowledge of subject well sites and properties. These assumptions represent Level 3 inputs. Barnwell’s estimated site restoration and abandonment costs of its oil and natural gas properties are capitalized as part of the carrying amount of oil and natural gas properties and depleted over the life of the related reserves. When the assumptions used to estimate a recorded asset retirement obligation change, a revision is recorded to both the asset retirement obligation and the capitalized cost of asset retirements. The liability is accreted at the end of each period through charges to oil and natural gas operating expense.
Income Taxes	Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax impacts of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Management evaluates its potential exposures from tax positions taken that have been or could be challenged by taxing authorities. These potential exposures result because taxing authorities may take positions that differ from those taken by management in the interpretation and application of statutes, regulations and rules. Management considers the possibility of alternative outcomes based upon past experience, previous actions by taxing authorities (e.g., actions taken in other jurisdictions) and advice from tax experts. Recognized tax positions are initially and subsequently measured as the largest amount of tax benefit that is more likely than not of being realized upon ultimate settlement with a taxing authority on a jurisdiction-by-jurisdiction basis. Liabilities for unrecognized tax benefits related to such tax positions are included in long-term liabilities unless the tax position is expected to be settled within the upcoming year, in which case the liabilities are included in current liabilities. Interest and penalties related to uncertain tax positions are included in income tax expense.
Environmental	Environmental Barnwell is subject to extensive environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and maintenance of surface conditions and may require Barnwell to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable, and the costs can be reasonably estimated.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of foreign subsidiaries are translated at the year-end exchange rate. Operating results of foreign subsidiaries are translated at average exchange rates during the period. Translation adjustments have no effect on net income and are included in “Accumulated other comprehensive income (loss), net” in stockholders’ equity.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities in active markets and have the highest priority. • Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs for the financial asset or liability and have the lowest priority.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement,” which provides changes to certain fair value disclosure requirements. The Company adopted the provisions of this ASU effective October 1, 2020. The adoption of this update did not have an impact on Barnwell's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, “Compensation - Retirement Benefits-Defined Benefit Plans - General: Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans,” which provides changes to certain pension and postretirement plan disclosures. The Company adopted the provisions of this ASU effective October 1, 2020. The adoption of this update did not have an impact on Barnwell's consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-17, “Consolidation: Targeted Improvements to Related Party Guidance for Variable Interest Entities,” which modifies the guidance related to indirect interests held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interest. The Company adopted the provisions of this ASU effective October 1, 2020. The adoption of this update did not have an impact on Barnwell's consolidated financial statements.

EARNINGS (LOSS) PER COMMON SH_2

EARNINGS (LOSS) PER COMMON SHARE (Tables)	12 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Reconciliations between net earnings (loss) attributable to stockholders and common shares outstanding of the basic and diluted net earnings (loss) per share computations	Reconciliations between net earnings (loss) attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net earnings (loss) per share computations are detailed in the following tables: Year ended September 30, 2021 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 6,253,000 8,592,154 $ 0.73 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 6,253,000 8,592,154 $ 0.73 Year ended September 30, 2020 Net Loss Shares Per-Share (Numerator) (Denominator) Amount Basic net loss per share $ (4,756,000) 8,277,160 $ (0.57) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (4,756,000) 8,277,160 $ (0.57)

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Summarized financial information for the land development partnerships	Summarized financial information for the Kukio Resort Land Development Partnerships is as follows: Year ended September 30, 2021 2020 Revenue $ 43,013,000 $ 7,911,000 Gross profit $ 24,759,000 $ 4,071,000 Net earnings $ 20,612,000 $ 618,000
Summary of Increment I and Increment II percentage of sales payment revenues received	The following table summarizes the Increment I revenues from KD I and the amount of fees directly related to such revenues (see Note 18 “Commitments and Contingencies - Other Matters”): Year ended September 30, 2021 2020 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 1,738,000 $ 325,000 Fees - included in general and administrative expenses (212,000) (40,000) Sale of interest in leasehold land, net of fees paid $ 1,526,000 $ 285,000

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITY (Tables)	12 Months Ended
	Sep. 30, 2021
Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]
Schedule of assets and liabilities of variable interest entity	The following table summarizes the carrying value of the assets and liabilities of Teton Barnwell that are consolidated by the Company. Intercompany balances are eliminated in consolidation and thus, are not reflected in the table below. September 30, ASSETS Cash and cash equivalents $ 136,000 Accounts and other receivables 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 203,000 Unproved properties 962,000 Total assets $ 1,419,000 LIABILITIES Accounts payable $ 3,000 Accrued capital expenditures 581,000 Accrued operating and other expenses 20,000 Total liabilities $ 604,000

PROPERTY AND EQUIPMENT AND AS_2

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Sep. 30, 2021
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION
Schedule of property and equipment	Barnwell’s property and equipment is detailed as follows: Estimated Gross Accumulated Net At September 30, 2021: Oil and natural gas properties: Proved properties $ 58,490,000 $ (56,067,000) $ 2,423,000 Unproved properties 962,000 — 962,000 Total oil and natural gas properties 59,452,000 (56,067,000) 3,385,000 Drilling rigs and equipment 3 – 10 years 7,273,000 (6,789,000) 484,000 Other property and equipment 3 – 10 years 687,000 (681,000) 6,000 Total $ 67,412,000 $ (63,537,000) $ 3,875,000 Estimated Gross Accumulated Net At September 30, 2020: Oil and natural gas properties: Proved properties $ 64,142,000 $ (61,839,000) $ 2,303,000 Unproved properties — — — Total oil and natural gas properties 64,142,000 (61,839,000) 2,303,000 Drilling rigs and equipment 3 – 10 years 8,244,000 (6,793,000) 1,451,000 Other property and equipment 3 – 17 years 1,045,000 (1,025,000) 20,000 Total $ 73,431,000 $ (69,657,000) $ 3,774,000
Schedule of reconciliation of the asset retirement obligation	The following is a reconciliation of the asset retirement obligation: Year ended September 30, 2021 2020 Asset retirement obligation as of beginning of year $ 6,194,000 $ 6,389,000 Obligations incurred on new wells drilled or acquired 532,000 227,000 Liabilities associated with properties sold (375,000) (169,000) Revision of estimated obligation 279,000 (279,000) Accretion expense 580,000 561,000 Payments (421,000) (498,000) Foreign currency translation adjustment 264,000 (37,000) Asset retirement obligation as of end of year 7,053,000 6,194,000 Less current portion (713,000) (647,000) Asset retirement obligation, long-term $ 6,340,000 $ 5,547,000

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	12 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Schedule of changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans	The following tables detail the changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans: Pension SERP Post-retirement Medical September 30, 2021 2020 2021 2020 2021 2020 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 10,280,000 $ 10,971,000 $ 2,031,000 $ 2,385,000 $ 2,839,000 $ 2,633,000 Service cost — 50,000 — 3,000 — — Interest cost 258,000 304,000 51,000 63,000 48,000 80,000 Actuarial (gain) loss (15,000) 504,000 63,000 (90,000) — 134,000 Benefits paid (158,000) (153,000) (9,000) — (5,000) (8,000) Curtailments — (1,396,000) — (330,000) — — Termination of post-retirement medical plan — — — — (2,882,000) — Benefit obligation at end of year 10,365,000 10,280,000 2,136,000 2,031,000 — 2,839,000 Change in Plan Assets: Fair value of plan assets at beginning of year 11,051,000 10,192,000 — — — — Actual return on plan assets 1,701,000 1,012,000 — — — — Employer contributions — — — — 5,000 8,000 Benefits paid (158,000) (153,000) — — (5,000) (8,000) Fair value of plan assets at end of year 12,594,000 11,051,000 — — — — Funded status $ 2,229,000 $ 771,000 $ (2,136,000) $ (2,031,000) $ — $ (2,839,000)
Schedule of amounts recognized in the consolidated balance sheets	Pension SERP Post-retirement Medical September 30, 2021 2020 2021 2020 2021 2020 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 2,229,000 $ 771,000 $ — $ — $ — $ — Current liabilities — — (35,000) (32,000) — (9,000) Noncurrent liabilities — — (2,101,000) (1,999,000) — (2,830,000) Net amount $ 2,229,000 $ 771,000 $ (2,136,000) $ (2,031,000) $ — $ (2,839,000) Amounts recognized in accumulated other comprehensive income (loss) before income taxes: Net actuarial loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000 Prior service cost (credit) — — — — — — Accumulated other comprehensive loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000
Schedule of amounts recognized in accumulated other comprehensive (loss) income	Pension SERP Post-retirement Medical September 30, 2021 2020 2021 2020 2021 2020 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 2,229,000 $ 771,000 $ — $ — $ — $ — Current liabilities — — (35,000) (32,000) — (9,000) Noncurrent liabilities — — (2,101,000) (1,999,000) — (2,830,000) Net amount $ 2,229,000 $ 771,000 $ (2,136,000) $ (2,031,000) $ — $ (2,839,000) Amounts recognized in accumulated other comprehensive income (loss) before income taxes: Net actuarial loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000 Prior service cost (credit) — — — — — — Accumulated other comprehensive loss $ 471,000 $ 1,681,000 $ 135,000 $ 72,000 $ — $ 721,000
Schedule of weighted-average assumptions used to determine benefit obligations and net periodic benefit (income) costs	The following table presents the weighted-average assumptions used to determine benefit obligations and net benefit (income) costs: Pension SERP Post-retirement Medical Year ended September 30, 2021 2020 2021 2020 2021 2020 Assumptions used to determine fiscal year-end benefit obligations: Discount rate 2.84% 2.54% 2.84% 2.54% N/A 2.54% Rate of compensation increase N/A N/A N/A N/A N/A N/A Assumptions used to determine net benefit costs (years ended): Discount rate 2.54% 3.06% / 3.15% (1) 2.54% 3.06% / 3.15% (1) 2.54% / 3.00% (2) 3.06% Expected return on plan assets 5.00% 6.50% N/A N/A N/A N/A Rate of compensation increase N/A 4.00% N/A 4.00% N/A N/A _______________________________________________ (1) 3.06% as of September 30, 2019 and 3.15% as of December 31, 2019 remeasurement. (2) 2.54% as of September 30, 2020 and 3.00% as of May 31, 2021 termination.
Schedule of components of net periodic benefit (income) cost	The components of net periodic benefit (income) cost are as follows: Pension SERP Post-retirement Medical Year ended September 30, 2021 2020 2021 2020 2021 2020 Net periodic benefit (income) cost for the year: Service cost $ — $ 50,000 $ — $ 3,000 $ — $ — Interest cost 258,000 304,000 51,000 63,000 48,000 80,000 Expected return on plan assets (546,000) (680,000) — — — — Amortization of prior service cost (credit) — 1,000 — (1,000) — — Amortization of net actuarial loss 39,000 35,000 — 5,000 62,000 80,000 Curtailment cost (income) — 53,000 — (53,000) — — Net periodic benefit (income) cost $ (249,000) $ (237,000) $ 51,000 $ 17,000 $ 110,000 $ 160,000
Schedule of benefits expected to be paid under the retirement plans	The benefits expected to be paid under the retirement plans as of September 30, 2021 are as follows: Pension SERP Expected Benefit Payments: Fiscal year ending September 30, 2022 $ 320,000 $ 35,000 Fiscal year ending September 30, 2023 $ 470,000 $ 97,000 Fiscal year ending September 30, 2024 $ 533,000 $ 123,000 Fiscal year ending September 30, 2025 $ 526,000 $ 122,000 Fiscal year ending September 30, 2026 $ 519,000 $ 121,000 Fiscal years ending September 30, 2027 through 2031 $ 2,840,000 $ 636,000
Schedule of year-end target allocation, by asset category, and the actual asset allocations	The Company’s year-end target allocation, by asset category, and the actual asset allocations were as follows: Target September 30, Asset Category Allocation 2021 2020 Cash and other 0% - 15% —% —% Fixed income securities 15% - 40% 31% 52% Equity securities 45% - 75% 69% 48%
Schedule of pension plan assets at fair value	The following tables set forth by level, within the fair value hierarchy, pension plan assets at their fair value: Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 25,000 $ 25,000 $ — $ — Corporate bonds 1,000 1,000 — — Fixed income exchange-traded funds 3,809,000 3,809,000 — — Preferred securities 48,000 48,000 — — Equity securities exchange-traded funds 459,000 459,000 — — Equities 8,252,000 8,252,000 — — Total $ 12,594,000 $ 12,594,000 $ — $ — Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Corporate bonds $ 1,000 $ 1,000 $ — $ — Fixed income exchange-traded funds 5,762,000 5,762,000 — — Equity securities exchange-traded funds 352,000 352,000 — — Equities 4,936,000 4,936,000 — — Total $ 11,051,000 $ 11,051,000 $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests	The components of earnings (loss) before income taxes, after adjusting the earnings (loss) for non-controlling interests, are as follows: Year ended September 30, 2021 2020 United States $ 5,436,000 $ 1,518,000 Canada 1,149,000 (6,271,000) $ 6,585,000 $ (4,753,000)
Schedule of components of the income tax provision (benefit)	The components of the income tax provision related to the above earnings (loss) are as follows: Year ended September 30, 2021 2020 Current provision (benefit): United States – Federal Before operating loss carryforwards $ 60,000 $ — Benefit of operating loss carryforwards (60,000) — After operating loss carryforwards — — United States – State Before operating loss carryforwards 174,000 (23,000) Benefit of operating loss carryforwards (7,000) — After operating loss carryforwards 167,000 (23,000) Canadian — — Total current 167,000 (23,000) Deferred provision: United States – State 165,000 26,000 Canadian — — Total deferred 165,000 26,000 $ 332,000 $ 3,000
Summary of reconciliation between the reported income tax provision (benefit) and the amount computed by multiplying the loss by the U.S. federal tax rate	A reconciliation between the reported income tax expense and the amount computed by multiplying the earnings (loss) attributable to Barnwell before income taxes by the U.S. federal tax rate of 21% is as follows: Year ended September 30, 2021 2020 Tax provision (benefit) computed by applying statutory rate $ 1,383,000 $ (998,000) Impact of TCJA limitation on post-TCJA net operating loss carryforwards — (260,000) (Decrease) increase in the valuation allowance (1,482,000) 1,978,000 Additional effect of the foreign tax provision on the total tax provision 87,000 (762,000) U.S. state tax provision, net of federal benefit 332,000 3,000 Other 12,000 42,000 $ 332,000 $ 3,000
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: September 30, 2021 2020 Deferred income tax assets: Foreign tax credit carryover under U.S. tax law $ 1,197,000 $ 2,421,000 U.S. federal net operating loss carryover 8,846,000 8,874,000 U.S. state unitary net operating loss carryovers 939,000 877,000 Canadian net operating loss carryovers 1,411,000 1,351,000 Tax basis of investment in land in excess of book basis under U.S. tax law 305,000 306,000 Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law 1,091,000 1,421,000 Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law 699,000 931,000 Liabilities accrued for books but not for tax under U.S. tax law 1,225,000 1,894,000 Liabilities accrued for books but not for tax under Canadian tax law 1,813,000 1,591,000 Other 170,000 345,000 Total gross deferred income tax assets 17,696,000 20,011,000 Less valuation allowance (16,398,000) (19,357,000) Net deferred income tax assets 1,298,000 654,000 Deferred income tax liabilities: Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law (1,156,000) (654,000) Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law (352,000) (194,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law (142,000) — U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law (7,000) — Total deferred income tax liabilities (1,657,000) (848,000) Net deferred income tax liability $ (359,000) $ (194,000) Reported as: Deferred income tax assets — — Deferred income tax liabilities (359,000) (194,000) Net deferred income tax liability $ (359,000) $ (194,000)
Summary of tax years, by jurisdiction, that remain subject to examination by taxing authorities	Included below is a summary of the tax years, by jurisdiction, that remain subject to examination by taxing authorities at September 30, 2021: Jurisdiction Fiscal Years Open U.S. federal 2018 – 2020 Various U.S. states 2018 – 2020 Canada federal 2014 – 2020 Various Canadian provinces 2014 – 2020

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACT WITH CUSTOMERS (Tables)	12 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	The following tables provide information about disaggregated revenue by revenue streams, reportable segments, geographical region, and timing of revenue recognition for the years ended September 30, 2021 and 2020. Year ended September 30, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 7,617,000 $ — $ — $ — $ 7,617,000 Natural gas 1,871,000 — — — 1,871,000 Natural gas liquids 766,000 — — — 766,000 Drilling and pump — 5,809,000 — — 5,809,000 Contingent residual payments — — 1,738,000 — 1,738,000 Other — — — 304,000 304,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Geographical regions: United States $ 118,000 $ 5,809,000 $ 1,738,000 $ 35,000 $ 7,700,000 Canada 10,136,000 — — 269,000 10,405,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Timing of revenue recognition: Goods transferred at a point in time $ 10,254,000 $ — $ 1,738,000 $ 304,000 $ 12,296,000 Services transferred over time — 5,809,000 — — 5,809,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Year ended September 30, 2020 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 5,214,000 $ — $ — $ — $ 5,214,000 Natural gas 1,119,000 — — — 1,119,000 Natural gas liquids 360,000 — — — 360,000 Drilling and pump — 10,994,000 — — 10,994,000 Contingent residual payments — — 325,000 — 325,000 Other — — — 317,000 317,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000 Geographical regions: United States $ — $ 10,994,000 $ 325,000 $ 6,000 $ 11,325,000 Canada 6,693,000 — — 311,000 7,004,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000 Timing of revenue recognition: Goods transferred at a point in time $ 6,693,000 $ — $ 325,000 $ 317,000 $ 7,335,000 Services transferred over time — 10,994,000 — — 10,994,000 Total revenues before interest income $ 6,693,000 $ 10,994,000 $ 325,000 $ 317,000 $ 18,329,000
Summary of contract with customer, asset and liability	The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers: September 30, 2021 2020 Accounts receivables from contracts with customers $ 2,797,000 $ 1,772,000 Contract assets 581,000 413,000 Contract liabilities 455,000 1,097,000
Schedule of uninstalled materials	A summary of Barnwell's uninstalled materials is as follows: September 30, 2021 September 30, 2020 Uninstalled materials 226,000 489,000

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Sep. 30, 2021
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. Year ended September 30, 2021 2020 Revenues: Oil and natural gas $ 10,254,000 $ 6,693,000 Contract drilling 5,809,000 10,994,000 Land investment 1,738,000 325,000 Other 304,000 317,000 Total before interest income 18,105,000 18,329,000 Interest income 8,000 18,000 Total revenues $ 18,113,000 $ 18,347,000 Depletion, depreciation, and amortization: Oil and natural gas $ 645,000 $ 1,747,000 Contract drilling 305,000 356,000 Other 13,000 44,000 Total depletion, depreciation, and amortization $ 963,000 $ 2,147,000 Impairment: Oil and natural gas $ 630,000 $ 4,326,000 Contract drilling 38,000 — Land investment — 50,000 Total impairment $ 668,000 $ 4,376,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 2,423,000 $ (4,230,000) Contract drilling (89,000) 3,125,000 Land investment 1,738,000 275,000 Other 291,000 273,000 Gain on sale of assets 1,982,000 1,336,000 Total operating profit 6,345,000 779,000 Equity in income of affiliates: Land investment 5,793,000 352,000 General and administrative expenses (7,088,000) (5,820,000) Interest expense (13,000) (3,000) Interest income 8,000 18,000 Gain on debt extinguishment 149,000 — Gain on termination of post-retirement medical plan 2,341,000 — Earnings (loss) before income taxes $ 7,535,000 $ (4,674,000) Capital Expenditures: Year ended September 30, 2021 2020 Oil and natural gas $ 3,028,000 $ 3,099,000 Contract drilling 62,000 408,000 Other 1,000 7,000 Total $ 3,091,000 $ 3,514,000 Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 8 for additional details). Assets By Segment: September 30, 2021 2020 Oil and natural gas (1) $ 6,401,000 $ 3,613,000 Contract drilling (2) 4,071,000 3,838,000 Land investment (2) — 901,000 Other: Cash and cash equivalents 11,279,000 4,584,000 Corporate and other 2,684,000 2,246,000 Total $ 24,435,000 $ 15,182,000 ______________ (1) L ocated primarily in the province of Alberta, Canada with a minor portion in Oklahoma. (2) Located in Hawaii.
Schedule of long-lived assets and revenue by geographic area	Long-Lived Assets By Geographic Area: September 30, 2021 2020 United States $ 4,180,000 $ 3,393,000 Canada 2,220,000 2,302,000 Total $ 6,400,000 $ 5,695,000 Revenue By Geographic Area: Year ended September 30, 2021 2020 United States $ 7,700,000 $ 11,325,000 Canada 10,405,000 7,004,000 Total (excluding interest income) $ 18,105,000 $ 18,329,000

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of components of accumulated other comprehensive (loss) income, net of taxes	Components of accumulated other comprehensive income (loss), net of taxes, are as follows: Year ended September 30, 2021 2020 Foreign currency translation: Beginning accumulated foreign currency translation $ 545,000 $ 691,000 Change in cumulative translation adjustment before reclassifications (283,000) (146,000) Income taxes — — Net current period other comprehensive loss (283,000) (146,000) Ending accumulated foreign currency translation 262,000 545,000 Retirement plans: Beginning accumulated retirement plans benefit cost (1,980,000) (3,608,000) Amortization of net actuarial loss and prior service cost 101,000 120,000 Net actuarial gains arising during the period 1,108,000 1,508,000 Gain on termination of post-retirement medical plan 541,000 — Income taxes — — Net current period other comprehensive income 1,750,000 1,628,000 Ending accumulated retirement plans benefit cost (230,000) (1,980,000) Accumulated other comprehensive income (loss), net of taxes $ 32,000 $ (1,435,000)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Lease asset and liabilities	Leases recorded on the balance sheet consist of the following: September 30, 2021 2020 Assets: Operating lease right-of-use assets $ 296,000 $ 249,000 Total right-of-use assets $ 296,000 $ 249,000 Liabilities: Current portion of operating lease liabilities $ 117,000 $ 111,000 Operating lease liabilities 180,000 143,000 Total lease liabilities $ 297,000 $ 254,000
Lease costs	The components of lease expenses are as follows: Year ended September 30, 2021 2020 Operating lease cost $ 130,000 $ 334,000 Short-term lease cost 254,000 69,000 Variable lease cost 103,000 — Total lease cost $ 487,000 $ 403,000
Supplemental lease information	Supplemental information related to leases is as follows: September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 133,000 $ 189,000 Operating leases: Weighted-average remaining lease term (in years) 2.9 3.4 Weighted-average discount rate 5.19% 5.85%
Operating lease maturity schedule	The remaining lease payments for our operating leases as of September 30, 2021, are as follows: Fiscal year ending: 2022 $ 129,000 2023 97,000 2024 58,000 2025 30,000 2026 7,000 Thereafter through 2027 — Total lease payments 321,000 Less: amounts representing interest (24,000) Present value of lease liabilities $ 297,000

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Tables) - Equity-classified share options	12 Months Ended
	Sep. 30, 2021
Share-based compensation
Summary of the activity in share options	A summary of the activity in Barnwell’s equity-classified share options from October 1, 2020 through September 30, 2021 is presented below: Options Shares Weighted- Weighted- Aggregate Outstanding at October 1, 2020 — $ — Granted 665,000 3.36 Exercised — — Expired/Forfeited (50,000) 3.33 Outstanding at September 30, 2021 615,000 $ 3.36 8.9 $ — Exercisable at September 30, 2021 — $ — — $ —
Schedule of assumptions used in estimating fair value	The following assumptions were used in estimating the fair value of the equity-classified share options granted on February 9, 2021: > 10% Owner-Employee Others Number of shares 60,000 605,000 Expected volatility 127.4% 105.8% Expected dividends None None Expected term (in years) 3.5 6.0 Risk-free interest rate 0.19% 0.82% Expected forfeitures None None Fair value per share $2.51 $2.70

INFORMATION RELATING TO THE C_2

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	12 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	The following table details the effect of changes in current assets and liabilities on the Consolidated Statements of Cash Flows, and presents supplemental cash flow information: Year ended September 30, 2021 2020 Increase (decrease) from changes in: Receivables $ (814,000) $ (598,000) Income tax receivable 457,000 129,000 Other current assets (920,000) 260,000 Accounts payable (746,000) 924,000 Accrued compensation 668,000 203,000 Other current liabilities (796,000) (470,000) (Decrease) increase from changes in current assets and liabilities $ (2,151,000) $ 448,000 Supplemental disclosure of cash flow information: Cash paid (received) during the year for: Income taxes refunded, net $ (303,000) $ (166,000) Supplemental disclosure of non-cash investing activities: Canadian income tax withholding on proceeds from the sale of oil and natural gas properties $ 598,000 $ —

SUPPLEMENTARY OIL AND NATURAL_2

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Sep. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Summary of changes in the estimates of net interests in total proved developed reserves of oil and natural gas liquids and natural gas	OIL & NGL GAS Total Proved reserves: Balance at September 30, 2019 1,419,000 4,520,000 2,198,000 Revisions of previous estimates (740,000) (1,746,000) (1,041,000) Acquisitions of reserves 68,000 628,000 176,000 Less sales of reserves (38,000) (443,000) (114,000) Less production (174,000) (649,000) (286,000) Balance at September 30, 2020 535,000 2,310,000 933,000 Revisions of previous estimates 291,000 1,345,000 523,000 Acquisitions of reserves 80,000 289,000 130,000 Less sales of reserves (97,000) (341,000) (156,000) Less production (169,000) (690,000) (288,000) Proved Reserves, September 30, 2021 640,000 2,913,000 1,142,000 Proved Developed Reserves, September 30, 2021 636,000 2,913,000 1,138,000 Proved Undeveloped Reserves, September 30, 2021 4,000 — 4,000
Schedule of capitalized costs relating to oil and natural gas producing activities	All capitalized costs relating to oil and natural gas producing activities in Canada and the U.S. are summarized as follows: September 30, 2021 Canada United States Total Proved properties $ 58,273,000 $ 217,000 $ 58,490,000 Unproved properties — 962,000 962,000 Total capitalized costs 58,273,000 1,179,000 59,452,000 Accumulated depletion, depreciation, and impairment 56,053,000 14,000 56,067,000 Net capitalized costs $ 2,220,000 $ 1,165,000 $ 3,385,000 September 30, 2020 Canada United States Total Proved properties $ 64,142,000 $ — $ 64,142,000 Unproved properties — — — Total capitalized costs 64,142,000 — 64,142,000 Accumulated depletion, depreciation, and impairment 61,839,000 — 61,839,000 Net capitalized costs $ 2,303,000 $ — $ 2,303,000
Schedule of costs incurred in oil and natural gas property acquisition, exploration and development	Year ended September 30, 2021 Canada United States Total Acquisition of properties: Proved $ 1,032,000 $ 70,000 $ 1,102,000 Unproved — — — Exploration costs 255,000 — 255,000 Development costs 563,000 1,108,000 1,671,000 Total $ 1,850,000 $ 1,178,000 $ 3,028,000 Year ended September 30, 2020 Canada United States Total Acquisition of properties: Proved $ 242,000 $ — $ 242,000 Unproved — — — Development costs 2,857,000 — 2,857,000 Total $ 3,099,000 $ — $ 3,099,000
Schedule of results of operations for oil and natural gas producing activities	Year ended September 30, 2021 Canada United States Total Net revenues $ 10,136,000 $ 118,000 $ 10,254,000 Production costs (6,532,000) (24,000) (6,556,000) Depletion (631,000) (14,000) (645,000) Reduction of carrying value of oil and natural gas properties (630,000) — (630,000) Pre-tax results of operations (1) 2,343,000 80,000 2,423,000 Estimated income tax expense (2) — — — Results of operations (1) $ 2,343,000 $ 80,000 $ 2,423,000 Year ended September 30, 2020 Canada United States Total Net revenues $ 6,693,000 $ — $ 6,693,000 Production costs (4,850,000) — (4,850,000) Depletion (1,747,000) — (1,747,000) Reduction of carrying value of oil and natural gas properties (4,326,000) — (4,326,000) Pre-tax results of operations (1) (4,230,000) — (4,230,000) Estimated income tax expense (2) — — — Results of operations (1) $ (4,230,000) $ — $ (4,230,000) _________________ (1) Before gain on sale of oil and natural gas properties, general and administrative expenses, interest expense, and foreign exchange gains and losses.
Schedule of standardized measure of discounted future net cash flows	September 30, 2021 2020 Future cash inflows $ 36,130,000 $ 20,426,000 Future production costs (25,323,000) (17,860,000) Future development costs (240,000) (73,000) Future income tax expenses (995,000) (92,000) Future net cash flows excluding abandonment, decommissioning and reclamation 9,572,000 2,401,000 Future abandonment, decommissioning and reclamation (14,525,000) (13,055,000) Future net cash flows (4,953,000) (10,654,000) 10% annual discount for timing of cash flows 7,598,000 8,969,000 Standardized measure of discounted future net cash flows $ 2,645,000 $ (1,685,000)
Schedule of changes in standardized measure of discounted future net cash flows	Year ended September 30, 2021 2020 Beginning of year $ (1,685,000) $ 2,310,000 Sales of oil and natural gas produced, net of production costs (3,604,000) (1,843,000) Net changes in prices and production costs, net of royalties and wellhead taxes 5,702,000 (1,876,000) Net change due to purchases and sales of minerals in place (882,000) 467,000 Previously estimated development costs incurred — 1,305,000 Changes in future development costs — 7,773,000 Revisions of previous quantity estimates 4,217,000 (10,274,000) Net change in income taxes (845,000) 288,000 Accretion of discount (176,000) 230,000 Other - changes in the timing of future production and other (55,000) (63,000) Other - net change in Canadian dollar translation rate (27,000) (2,000) Net change 4,330,000 (3,995,000) End of year $ 2,645,000 $ (1,685,000)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2021USD ($)segment
Principles of Consolidation
Number of operating segments | segment	3
Retirement Plans
Increase (decrease) pension expense | $	$ 62
Measurement input, discount rate
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Discount rate	0.10
Minimum
Equity Method Investments
Ownership interest in affiliated companies required to account for investments under equity method investments (more than)	3.00%
Maximum
Equity Method Investments
Ownership interest in affiliated companies required to account for investments under equity method investments (more than)	5.00%
Retirement Plans
Decrease (increase) in the expected return on plan assets assumption	0.50%
Kaupulehu Developments
Principles of Consolidation
Ownership interest in subsidiaries	77.60%
KD Kona 2013 LLLP
Principles of Consolidation
Ownership interest in subsidiaries	75.00%

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($) $ in Thousands	Jul. 08, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Going Concern [Line Items]
Proceeds from the sale of oil and natural gas assets			$ 581	$ 608
Income taxes receivable		$ 530	530	$ 472
Net cash inflows from land segment proceeds and distributions from the Kukio Resort Land Development Partnerships			7,156
Spirit River, Alberta Canada | Barnwell Industries Inc
Going Concern [Line Items]
Proceeds from the sale of oil and natural gas assets	$ 1,047
Income taxes receivable	$ 526
At The Market Offering
Going Concern [Line Items]
Common shares sold (in shares)		1,167,987
Proceeds from sale of common stock		$ 3,784
Stock issuance costs, commission and fees		$ 123
Office
Going Concern [Line Items]
Proceeds from the sale of asset			$ 1,864

EARNINGS (LOSS) PER COMMON SH_3

EARNINGS (LOSS) PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Net Earnings (Loss) (Numerator)
Basic	$ 6,253	$ (4,756)
Diluted	$ 6,253	$ (4,756)
Shares (Denominator)
Basic (in shares)	8,592,154	8,277,160
Effect of dilutive securities-common stock options (in shares)	0	0
Diluted (in shares)	8,592,154	8,277,160
Per-Share Amount
Basic net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.73	$ (0.57)
Diluted net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.73	$ (0.57)
Options
Antidilutive shares of common stock excluded from the computation of diluted shares
Antidilutive shares excluded from computation of earnings (loss) per share (in shares)	615,000	0

INVESTMENTS - INVESTMENT IN KUK

INVESTMENTS - INVESTMENT IN KUKIO RESORT LAND DEVELOPMENT PARTNERSHIP (Details) $ in Thousands	Nov. 27, 2013USD ($)partnership	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2017alot	Sep. 30, 2016lot	Mar. 07, 2019
Investment Holdings [Line Items]
Equity in income of affiliates		$ 5,793	$ 352
Investment in Kukio Resort Land Development Partnerships		0	901
Investments in land development partnerships
Investment Holdings [Line Items]
Number of limited liability limited partnerships formed | partnership	2
Cumulative cash distributions from Kukio Resort land development partnerships, made to date		45,000
Cumulative cash distributions from Kukio Resort land development partnerships, partial payment preferred return		459	197
Cumulative cash distributions from Kukio Resort land development Partnerships, preferred return		656
Cash distribution from equity method investment		6,011	360
Equity in income of affiliates		5,793	352
Basis difference between the carrying amount and underlying equity		138
Basis difference adjustment		146	13
Investment in Kukio Resort Land Development Partnerships			901
Cumulative Cash Distributions from Kukio Resort Land Development Partnerships In Excess Of Our Investment Balance Recorded As Income		$ 654
KD Kukio Resorts LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Kaupulehu, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Maniniowali, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
Indirectly Acquired Interest | Investments in land development partnerships
Investment Holdings [Line Items]
Aggregate cost	$ 5,140
KD Acquisition, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		19.60%
KD Kona 2013 LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	75.00%
KKM Makai LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	34.45%
KD Kaupulehu, LLLP | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired						55.00%
Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Number of lots developed | a				2
Number of single family lots sold | lot				1	1
Replay | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired						45.00%
Barnwell Industries Inc | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		10.80%
Non-controlling Interests | Investments in land development partnerships
Investment Holdings [Line Items]
Cash distribution from equity method investment		$ 683	$ 20
Minimum | Investments in land development partnerships
Investment Holdings [Line Items]
Cumulative cash distributions from Kukio Resort Land Development Partnerships, threshold	$ 45,000
Minimum | Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Increment II lot size | a				2
Maximum | Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Increment II lot size | a				3

INVESTMENTS - SUMMARIZED FINANC

INVESTMENTS - SUMMARIZED FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Investment Holdings [Line Items]
Revenues	$ 18,113	$ 18,347
Net earnings	7,203	(4,677)
Investments in land development partnerships
Investment Holdings [Line Items]
Revenues	43,013	7,911
Gross Profit	24,759	4,071
Net earnings	$ 20,612	$ 618

INVESTMENTS - SALE OF INTEREST

INVESTMENTS - SALE OF INTEREST IN LEASEHOLD LAND (Details)	12 Months Ended
	Sep. 30, 2021USD ($)lot	Mar. 07, 2019USD ($)daysingleFamilyResidentialLot
KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, percentage of distributions		15.00%
Collaborative agreement, percentage of cumulative net profits, priority payment		10.00%
Collaborative agreement, percentage of cumulative net profits, priority payment, maximum amount		$ 3,000,000
KD Acquisition II, LP | KD Kaupulehu, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		55.00%
KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Aggregate gross proceeds from sale of Increment I single family lots for calculating payments entitled to be received	$ 237,038,000
Number of single family lots sold | lot	8
Number of lots remaining to be sold | lot	9
Number of lots developed | lot	80
KD Kaupulehu LLLP Increment II Phase 2A | Investments in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to | singleFamilyResidentialLot		3
KD Kaupulehu LLLP Increment II Phase 2A, lots completed subsequent to Phase 2A | Investments in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to | singleFamilyResidentialLot		4
Collaborative agreement, commitment to construct improvements term | day		90
KD Development, LLC | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits		0.72%
Pool Of Various Individuals | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits		0.20%
Aggregate gross proceeds greater than $100,000,000 up to $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Payments entitled to be received as percentage of gross proceeds from sale of single family lots	10.00%
Aggregate gross proceeds in excess of $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Payments entitled to be received as percentage of gross proceeds from sale of single family lots	14.00%
Minimum | Aggregate gross proceeds greater than $100,000,000 up to $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Aggregate gross proceeds from sale of Increment I single family lots for calculating payments entitled to be received	$ 100,000,000
Minimum | Aggregate gross proceeds in excess of $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Aggregate gross proceeds from sale of Increment I single family lots for calculating payments entitled to be received	300,000,000
Maximum | Aggregate gross proceeds greater than $100,000,000 up to $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Aggregate gross proceeds from sale of Increment I single family lots for calculating payments entitled to be received	$ 300,000,000

INVESTMENTS - SUMMARY OF REVENU

INVESTMENTS - SUMMARY OF REVENUES (Details) - Kaupulehu Developments - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Investment Holdings [Line Items]
Revenues - sale of interest in leasehold land	$ 1,738	$ 325
Fees - included in general and administrative expenses	(212)	(40)
Sale of interest in leasehold land, net of fees paid	$ 1,526	$ 285

INVESTMENTS - INVESTMENTS IN LE

INVESTMENTS - INVESTMENTS IN LEASEHOLD LAND INTERESTS - LOT 4C (Details) a in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2021USD ($)a	Sep. 30, 2020USD ($)
Investment Holdings [Line Items]
Impairment of assets	$ 668	$ 4,376
Investment in leasehold land interest - Lot 4C
Investment Holdings [Line Items]
Area of land (in acres) | a	1
Impairment of assets		$ 50

CONSOLIDATED VARIABLE INTERES_3

CONSOLIDATED VARIABLE INTEREST ENTITY - NARRATIVE (Details) $ in Thousands	Sep. 30, 2021USD ($)
Variable Interest Entity [Line Items]
Percentage of Capital Contributions to Variable Interest Entity	100.00%
Capital Contributions Made to Variable Interest Entity	$ 750
Gros Ventre Partners, LLC
Variable Interest Entity [Line Items]
Profit sharing ratio of variable interest entity	2.00%
Asset management fee, percent fee of cumulative capital contributions	1.00%
BOK Drilling, LLC
Variable Interest Entity [Line Items]
Profit sharing ratio of variable interest entity	98.00%
Four Pines Operating LLC | Gros Ventre Partners, LLC
Variable Interest Entity [Line Items]
Interest owned by member of Board of Directors	25.00%

CONSOLIDATED VARIABLE INTERES_4

CONSOLIDATED VARIABLE INTEREST ENTITY - CARRYING VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
ASSETS
Cash and cash equivalents	$ 11,279	$ 4,584
Accounts and other receivables	3,069	2,176
Unproved properties	962	0
Total assets	24,435	15,182
Liabilities [Abstract]
Accounts payable	1,416	2,104
Accrued capital expenditures	909	542
Accrued operating and other expenses	1,171	1,325
Total liabilities	14,928	$ 17,135
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents	136
Accounts and other receivables	118
Proved properties, net	203
Unproved properties	962
Total assets	1,419
Liabilities [Abstract]
Accounts payable	3
Accrued capital expenditures	581
Accrued operating and other expenses	20
Total liabilities	$ 604

ASSET HELD FOR SALE (Details)

ASSET HELD FOR SALE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Long Lived Assets Held-for-sale [Line Items]
Gain on sale of asset	$ 1,982	$ 1,336
Aggregate carrying value, net	490	1,471
Office
Long Lived Assets Held-for-sale [Line Items]
Asset held for sale		$ 699
Proceeds from the sale of asset	1,864
Gain on sale of asset	1,164
Drilling rigs and equipment
Long Lived Assets Held-for-sale [Line Items]
Asset held for sale	687
Aggregate carrying value, net	725
Impairment of long-lived assets to be disposed of	$ 38

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES (Details) - USD ($) $ in Thousands	Jul. 08, 2021	Apr. 08, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Oil and Natural Gas Properties [Line Items]
Proceeds from the sale of oil and natural gas assets				$ 581	$ 608
Income taxes receivable				530	472
Gain on sale of oil and natural gas properties				818	0
Liabilities associated with properties sold				375	169
Payments to acquire oil and natural gas properties				348	0
Impairment of assets				668	4,376
Oil and natural gas
Oil and Natural Gas Properties [Line Items]
Impairment of assets				630	$ 4,326
Barnwell Industries Inc | Hillsdown, Alberta, Canada
Oil and Natural Gas Properties [Line Items]
Proceeds from the sale of oil and natural gas assets		$ 132
Income taxes receivable		72
Barnwell Industries Inc | Progress
Oil and Natural Gas Properties [Line Items]
Proceeds from the sale of oil and natural gas assets			$ 594
Barnwell Industries Inc | Twining, Alberta, Canada
Oil and Natural Gas Properties [Line Items]
Payments to acquire oil and natural gas properties		$ 348
Barnwell Industries Inc | Spirit River, Alberta Canada
Oil and Natural Gas Properties [Line Items]
Proceeds from the sale of oil and natural gas assets	$ 1,047
Income taxes receivable	$ 526
Percent difference in capitalized costs divided by proved reserves if the gain is recorded as opposed to being credited against the full-cost pool	93.00%
Gain on sale of oil and natural gas properties				818
Barnwell Industries Inc | Spirit River, Alberta Canada | Asset Purchase and Sale Agreement
Oil and Natural Gas Properties [Line Items]
Liabilities associated with properties sold				$ 77

PROPERTY AND EQUIPMENT AND AS_3

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended		13 Months Ended
	Jul. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Aug. 31, 2022
Property and equipment
Proved Properties, Net Property and Equipment		$ 2,423	$ 2,303
Unproved Properties, Net Property and Equipment		962	0
Net drilling rigs and other property and equipment		490	1,471
Total Gross Property and Equipment		67,412	73,431
Total Accumulated Depletion, Depreciation, Amortization, and Impairment		(63,537)	(69,657)
Total Net Property and Equipment		3,875	3,774
Oil and natural gas properties, full cost method of accounting:
Unproved properties		962	0
Accumulated depletion, depreciation, and impairment		(56,067)	(61,839)
Total oil and natural gas properties, net		3,385	2,303
Change in the asset retirement obligation
Balance at the beginning of the year		6,194	6,389
Obligations incurred on new wells drilled or acquired		532	227
Liabilities associated with properties sold		(375)	(169)
Revision of estimated obligation		279	(279)
Accretion expense		580	561
Payments		(421)	(498)
Foreign currency translation adjustment		264	(37)
Balance at the end of the year		7,053	6,194
Less current portion		(713)	(647)
Asset retirement obligation, long-term		6,340	5,547
Abandonment and reclamation cost, cash deposit	$ 888	1,525
Abandonment and reclamation cost, cash deposit less draw downs		809
Increase in asset retirement obligation		$ 213
Forecast
Change in the asset retirement obligation
Abandonment and reclamation cost, cash deposit				$ 637
Minimum
Change in the asset retirement obligation
Discount rate for ARO		6.00%
Maximum
Change in the asset retirement obligation
Discount rate for ARO		13.50%
Oil and natural gas properties
Property and equipment
Proved Properties, Gross Property and Equipment		$ 58,490	64,142
Proved Properties, Accumulated Depletion, Depreciation, Amortization, and Impairment		(56,067)	(61,839)
Proved Properties, Net Property and Equipment		2,423	2,303
Unproved Properties, Gross Property and Equipment		962	0
Unproved Properties, Accumulated Depletion, Depreciation, Amortization, and Impairment		0	0
Unproved Properties, Net Property and Equipment		962	0
Oil and natural gas properties, full cost method of accounting:
Total oil and natural gas properties, gross		59,452	64,142
Total oil and natural gas properties, net		3,385	2,303
Change in the asset retirement obligation
Oil and Gas Property, Full Cost Method, Depletion		(56,067)	(61,839)
Drilling rigs and equipment
Property and equipment
Gross Property and Equipment		7,273	8,244
Accumulated Depletion, Depreciation, Amortization, and Impairment		(6,789)	(6,793)
Net drilling rigs and other property and equipment		$ 484	$ 1,451
Drilling rigs and equipment | Minimum
Property and equipment
Estimated useful lives		3 years	3 years
Drilling rigs and equipment | Maximum
Property and equipment
Estimated useful lives		10 years	10 years
Other property and equipment
Property and equipment
Gross Property and Equipment		$ 687	$ 1,045
Accumulated Depletion, Depreciation, Amortization, and Impairment		(681)	(1,025)
Net drilling rigs and other property and equipment		$ 6	$ 20
Other property and equipment | Minimum
Property and equipment
Estimated useful lives		3 years	3 years
Other property and equipment | Maximum
Property and equipment
Estimated useful lives		10 years	17 years

RETIREMENT PLANS - NARRATIVE (D

RETIREMENT PLANS - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Retirement plans
Curtailment gain and gain on termination of post-retirement medical plan in OCI	$ 541	$ 1,726
Gain on termination of post-retirement medical plan	$ 2,341	0
Pension Plan
Retirement plans
Period of employee's highest average earnings on which benefits are based	5 years
Expected future contributions	$ 0
Accumulated benefit obligation	$ 10,365	10,280
Post-retirement Medical
Retirement plans
Minimum period of service to be attained for being covered under the plan	20 years
Minimum period of service to be attained at the position of Vice President or higher for being covered under the plan	10 years
Curtailment gain and gain on termination of post-retirement medical plan in OCI	$ 541	0
Gain on termination of post-retirement medical plan	2,341
Pension Plan And Supplemental Employee Retirement Plan
Retirement plans
Curtailment gain and gain on termination of post-retirement medical plan in OCI	0	1,726
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax		1,726
SERP
Retirement plans
Accumulated benefit obligation	$ 2,136	$ 2,031

RETIREMENT PLANS - CHANGES IN B

RETIREMENT PLANS - CHANGES IN BENEFIT OBLIGATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Change in Plan Assets:
Fair value of plan assets at beginning of year	$ 11,051
Fair value of plan assets at end of year	12,594	$ 11,051
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	2,229	771
Noncurrent liabilities	(2,101)	(4,829)
Pension Plan
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	10,280	10,971
Service cost	0	50
Interest cost	258	304
Actuarial (gain) loss	(15)	504
Benefits paid	(158)	(153)
Curtailments	0	(1,396)
Termination of post-retirement medical plan	0	0
Benefit obligation at end of year	10,365	10,280
Change in Plan Assets:
Fair value of plan assets at beginning of year	11,051	10,192
Actual return on plan assets	1,701	1,012
Employer contributions	0	0
Benefits paid	(158)	(153)
Fair value of plan assets at end of year	12,594	11,051
Funded status	2,229	771
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	2,229	771
Current liabilities	0	0
Noncurrent liabilities	0	0
Net amount	2,229	771
Amounts recognized in accumulated other comprehensive income (loss) before income taxes:
Net actuarial loss	471	1,681
Prior service cost (credit)	0	0
Accumulated other comprehensive loss	471	1,681
SERP
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	2,031	2,385
Service cost	0	3
Interest cost	51	63
Actuarial (gain) loss	63	(90)
Benefits paid	(9)	0
Curtailments	0	(330)
Termination of post-retirement medical plan	0	0
Benefit obligation at end of year	2,136	2,031
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	0	0
Benefits paid	0	0
Fair value of plan assets at end of year	0	0
Funded status	(2,136)	(2,031)
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	0	0
Current liabilities	(35)	(32)
Noncurrent liabilities	(2,101)	(1,999)
Net amount	(2,136)	(2,031)
Amounts recognized in accumulated other comprehensive income (loss) before income taxes:
Net actuarial loss	135	72
Prior service cost (credit)	0	0
Accumulated other comprehensive loss	135	72
Post-retirement Medical
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	2,839	2,633
Service cost	0	0
Interest cost	48	80
Actuarial (gain) loss	0	134
Benefits paid	(5)	(8)
Curtailments	0	0
Termination of post-retirement medical plan	(2,882)	0
Benefit obligation at end of year	0	2,839
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	5	8
Benefits paid	(5)	(8)
Fair value of plan assets at end of year	0	0
Funded status	0	(2,839)
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	0	0
Current liabilities	0	(9)
Noncurrent liabilities	0	(2,830)
Net amount	0	(2,839)
Amounts recognized in accumulated other comprehensive income (loss) before income taxes:
Net actuarial loss	0	721
Prior service cost (credit)	0	0
Accumulated other comprehensive loss	$ 0	$ 721

RETIREMENT PLANS - WEIGHTED AVE

RETIREMENT PLANS - WEIGHTED AVEARAGE BENEFIT OBLIGATIONS AND NET BENEFIT (INCOME) COST (Details)	1 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2021	Dec. 31, 2019	Apr. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Pension Plan
Assumptions used to determine fiscal year-end benefit obligations:
Discount rate				2.54%	2.84%	2.54%
Assumptions used to determine net benefit costs (years ended):
Discount rate		3.06%		3.15%	2.54%
Expected return on plan assets					5.00%	6.50%
Rate of compensation increase						4.00%
SERP
Assumptions used to determine fiscal year-end benefit obligations:
Discount rate				2.54%	2.84%	2.54%
Assumptions used to determine net benefit costs (years ended):
Discount rate		3.06%		3.15%	2.54%
Rate of compensation increase						4.00%
Post-retirement Medical
Assumptions used to determine fiscal year-end benefit obligations:
Discount rate				2.54%		2.54%
Assumptions used to determine net benefit costs (years ended):
Discount rate	3.00%		2.54%			3.06%

RETIREMENT PLANS - NET PERIODIC

RETIREMENT PLANS - NET PERIODIC BENEFIT (INCOME) COST (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Pension Plan
Net periodic benefit (income) cost for the year:
Service cost	$ 0	$ 50
Interest cost	258	304
Expected return on plan assets	(546)	(680)
Amortization of prior service cost (credit)	0	1
Amortization of net actuarial loss	39	35
Curtailment cost (income)	0	53
Net periodic benefit (income) cost	(249)	(237)
SERP
Net periodic benefit (income) cost for the year:
Service cost	0	3
Interest cost	51	63
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	0	(1)
Amortization of net actuarial loss	0	5
Curtailment cost (income)	0	(53)
Net periodic benefit (income) cost	51	17
Post-retirement Medical
Net periodic benefit (income) cost for the year:
Service cost	0	0
Interest cost	48	80
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	0	0
Amortization of net actuarial loss	62	80
Curtailment cost (income)	0	0
Net periodic benefit (income) cost	$ 110	$ 160

RETIREMENT PLANS - EXPECTED BEN

RETIREMENT PLANS - EXPECTED BENEFIT PAYMENTS (Details) $ in Thousands	Sep. 30, 2021USD ($)
Pension Plan
Expected Benefit Payments:
Fiscal year ending September 30, 2022	$ 320
Fiscal year ending September 30, 2023	470
Fiscal year ending September 30, 2024	533
Fiscal year ending September 30, 2025	526
Fiscal year ending September 30, 2026	519
Fiscal years ending September 30, 2027 through 2031	2,840
SERP
Expected Benefit Payments:
Fiscal year ending September 30, 2022	35
Fiscal year ending September 30, 2023	97
Fiscal year ending September 30, 2024	123
Fiscal year ending September 30, 2025	122
Fiscal year ending September 30, 2026	121
Fiscal years ending September 30, 2027 through 2031	$ 636

RETIREMENT PLANS - ASSET CATERG

RETIREMENT PLANS - ASSET CATERGORY ALLOCATION (Details)	Sep. 30, 2021	Sep. 30, 2020
Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	0.00%	0.00%
Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	31.00%	52.00%
Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	69.00%	48.00%
Minimum | Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	0.00%
Minimum | Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	15.00%
Minimum | Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	45.00%
Maximum | Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	15.00%
Maximum | Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	40.00%
Maximum | Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	75.00%

RETIREMENT PLANS - FAIR VALUE (

RETIREMENT PLANS - FAIR VALUE (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Pension plan assets at the fair value
Fair value measurements	$ 12,594	$ 11,051
Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	12,594	11,051
Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Cash
Pension plan assets at the fair value
Fair value measurements	25
Cash | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	25
Cash | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0
Cash | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0
Corporate bonds
Pension plan assets at the fair value
Fair value measurements	1	1
Corporate bonds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	1	1
Corporate bonds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Corporate bonds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Fixed income exchange-traded funds
Pension plan assets at the fair value
Fair value measurements	3,809	5,762
Fixed income exchange-traded funds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	3,809	5,762
Fixed income exchange-traded funds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Fixed income exchange-traded funds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Preferred securities
Pension plan assets at the fair value
Fair value measurements	48
Preferred securities | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	48
Preferred securities | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0
Preferred securities | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0
Equity securities exchange-traded funds
Pension plan assets at the fair value
Fair value measurements	459	352
Equity securities exchange-traded funds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	459	352
Equity securities exchange-traded funds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Equity securities exchange-traded funds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Equities
Pension plan assets at the fair value
Fair value measurements	8,252	4,936
Equities | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	8,252	4,936
Equities | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Equities | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests
United States	$ 5,436,000	$ 1,518,000
Canada	1,149,000	(6,271,000)
Total	6,585,000	(4,753,000)
Current provision (benefit): United States - Federal
Before operating loss carryforwards	60,000	0
Benefit of operating loss carryforwards	(60,000)	0
After operating loss carryforwards	0	0
Current provision (benefit): United States - State
Before operating loss carryforwards	174,000	(23,000)
Benefit of operating loss carryforwards	(7,000)	0
After operating loss carryforwards	167,000	(23,000)
Canadian	0	0
Total current	167,000	(23,000)
Deferred provision:
United States – State	165,000	26,000
Canadian	0	0
Total deferred	165,000	26,000
Total	$ 332,000	3,000
Reconciliation between the reported income tax provision (benefit) and the amount computed by multiplying the earnings (loss) attributable to the entity by the U.S. federal tax rate
U.S. federal tax rate	21.00%
Tax provision (benefit) computed by applying statutory rate	$ 1,383,000	(998,000)
Impact of TCJA limitation on post-TCJA net operating loss carryforwards	0	(260,000)
(Decrease) increase in the valuation allowance	(1,482,000)	1,978,000
Additional effect of the foreign tax provision on the total tax provision	87,000	(762,000)
U.S. state tax provision, net of federal benefit	332,000	3,000
Other	12,000	42,000
Total	332,000	3,000
Deferred income tax assets:
Foreign tax credit carryover under U.S. tax law	1,197,000	2,421,000
U.S. federal net operating loss carryover	8,846,000	8,874,000
U.S. state unitary net operating loss carryovers	939,000	877,000
Canadian net operating loss carryovers	1,411,000	1,351,000
Tax basis of investment in land in excess of book basis under U.S. tax law	305,000	306,000
Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law	1,091,000	1,421,000
Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law	699,000	931,000
Liabilities accrued for books but not for tax under U.S. tax law	1,225,000	1,894,000
Liabilities accrued for books but not for tax under Canadian tax law	1,813,000	1,591,000
Other	170,000	345,000
Total gross deferred income tax assets	17,696,000	20,011,000
Less Valuation allowance	(16,398,000)	(19,357,000)
Net deferred income tax assets	1,298,000	654,000
Deferred income tax liabilities:
Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law	(1,156,000)	(654,000)
Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law	(352,000)	(194,000)
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law	(142,000)	0
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law	(7,000)	0
Total deferred income tax liabilities	(1,657,000)	(848,000)
Deferred tax liability, net	(359,000)	(194,000)
Net deferred income tax liability included in Consolidated Balance Sheets:
Deferred income tax assets	0	0
Deferred income tax liabilities	359,000	194,000
Valuation allowance, other disclosures
Decrease in valuation allowance	(2,959,000)
Decrease in valuation allowance, domestic	(1,225,000)
Decrease in valuation allowance, domestic, related to foreign tax credit carryovers	(1,224,000)
Decrease in valuation allowance, foreign	(257,000)
Income tax (benefit) expense recognized in valuation allowance change	(2,830,000)
Change in valuation allowance charged to accumulated other comprehensive loss	(129,000)
Tax carryovers
Unrecognized Tax Benefits	0	$ 0
Federal
Tax carryovers
Tax credit carryovers	1,197,000
Operating loss carryovers	42,125,000
State and Local Jurisdiction
Tax carryovers
Operating loss carryovers	14,674,000
Foreign
Tax carryovers
Operating loss carryovers	$ 5,716,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTACTS WITH CUSTOMERS - DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 18,105	$ 18,329
United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	7,700	11,325
Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	10,405	7,004
Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	7,617	5,214
Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,871	1,119
Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	766	360
Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,738	325
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	304	317
Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	10,254	6,693
Oil and natural gas | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	118	0
Oil and natural gas | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	10,136	6,693
Oil and natural gas | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	7,617	5,214
Oil and natural gas | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,871	1,119
Oil and natural gas | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	766	360
Oil and natural gas | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Oil and natural gas | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Oil and natural gas | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Contract drilling | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Contract drilling | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Contract drilling | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,738	325
Land investment | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,738	325
Land investment | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,738	325
Land investment | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	304	317
Other | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	35	6
Other | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	269	311
Other | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	304	317
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	12,296	7,335
Goods transferred at a point in time | Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	10,254	6,693
Goods transferred at a point in time | Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Goods transferred at a point in time | Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,738	325
Goods transferred at a point in time | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	304	317
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Services transferred over time | Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Services transferred over time | Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,809	10,994
Services transferred over time | Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Services transferred over time | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 0	$ 0

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACT WITH CUSTOMERS - CONTRACT BALANCES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Oct. 01, 2018
Revenue from Contract with Customer [Abstract]
Accounts receivables from contracts with customers	$ 2,797	$ 1,772
Contract assets	581	413
Contract liabilities	$ 455	$ 1,097

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Contract with customer, liability, current	$ 455	$ 1,097
Contract with customer, liability, revenue recognized	1,013	1,054
Revenue, remaining performance obligation (backlog)	$ 2,817
Percentage anticipated to be recognized in next 12 months	13.00%
Capitalized contract cost net, preconstruction	$ 326	145
Capitalized contract cost, amortization of preconstruction	224	163
Capitalized contract cost, impairment loss	$ 0	$ 0
Minimum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	5.00%
Maximum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	10.00%

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS - UNINSTALLED MATERIALS (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Uninstalled materials	$ 226	$ 489

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenue before interest income	$ 18,105,000	$ 18,329,000
Interest income	8,000	18,000
Total revenues	18,113,000	18,347,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	963,000	2,147,000
Impairment:
Impairment of assets	668,000	4,376,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	6,345,000	779,000
Equity in income (loss) of affiliates:
Equity in income of affiliates	5,793,000	352,000
General and administrative expenses	(7,088,000)	(5,820,000)
Interest expense	(13,000)	(3,000)
Interest income	8,000	18,000
Gain on debt extinguishment	149,000	0
Gain on termination of post-retirement medical plan	2,341,000	0
Earnings (loss) before income taxes	7,535,000	(4,674,000)
Capital Expenditures:
Capital Expenditure	3,091,000	3,514,000
Assets By Segment:
Total assets	24,435,000	15,182,000
Corporate and other
Capital Expenditures:
Capital Expenditure	1,000	7,000
Assets By Segment:
Total assets	2,684,000	2,246,000
Corporate and other | Cash and other
Assets By Segment:
Total assets	11,279,000	4,584,000
Intersegment eliminations
Revenues:
Total revenues	0	0
Oil and natural gas
Revenues:
Revenue before interest income	10,254,000	6,693,000
Total revenues	10,254,000	6,693,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	645,000	1,747,000
Impairment:
Impairment of assets	630,000	4,326,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	2,423,000	(4,230,000)
Oil and natural gas | Operating segments
Capital Expenditures:
Capital Expenditure	3,028,000	3,099,000
Assets By Segment:
Total assets	6,401,000	3,613,000
Land investment
Revenues:
Revenue before interest income	1,738,000	325,000
Total revenues	1,738,000	325,000
Impairment:
Impairment of assets	0	50,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	1,738,000	275,000
Land investment | Operating segments
Assets By Segment:
Total assets	0	901,000
Contract drilling
Revenues:
Revenue before interest income	5,809,000	10,994,000
Total revenues	5,809,000	10,994,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	305,000	356,000
Impairment:
Impairment of assets	38,000	0
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	(89,000)	3,125,000
Contract drilling | Operating segments
Capital Expenditures:
Capital Expenditure	62,000	408,000
Assets By Segment:
Total assets	4,071,000	3,838,000
Other
Revenues:
Revenue before interest income	304,000	317,000
Total revenues	312,000	335,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	13,000	44,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	291,000	273,000
Gain on sale of assets
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	$ 1,982,000	$ 1,336,000

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION - GEOGRAPHIC AREAS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Geographic information
Long-lived assets	$ 6,400	$ 5,695
Total (excluding interest income)	18,105	18,329
United States
Geographic information
Long-lived assets	4,180	3,393
Total (excluding interest income)	7,700	11,325
Canada
Geographic information
Long-lived assets	2,220	2,302
Total (excluding interest income)	$ 10,405	$ 7,004

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Foreign currency translation:
Balance at beginning of period	$ 545	$ 691
Change in cumulative translation adjustment before reclassifications	(283)	(146)
Foreign currency translation adjustments, taxes	0	0
Net current period other comprehensive loss	(283)	(146)
Balance at end of the period	262	545
Retirement plans:
Balance at beginning of period	(1,980)	(3,608)
Amortization of net actuarial loss and prior service cost	101	120
Net actuarial gains arising during the period	1,108	1,508
Gain on termination of post-retirement medical plan	541	0
Amortization of accumulated other comprehensive loss into net periodic benefit costs, taxes	0	0
Net current period other comprehensive income	1,750	1,628
Balance at end of the period	(230)	(1,980)
Accumulated other comprehensive income (loss), net	$ 32	$ (1,435)

DEBT (Details)

DEBT (Details) $ in Thousands, $ in Thousands	Apr. 28, 2020USD ($)	Mar. 31, 2021CAD ($)	Dec. 31, 2020CAD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021CAD ($)
Debt Instrument [Line Items]
Gain on debt extinguishment				$ 149	$ 0
Paycheck Protection Program Loan
Debt Instrument [Line Items]
Debt face amount	$ 147
Debt term	2 years
Interest rate	1.00%
Gain on debt extinguishment				149
Canada Emergency Business Account Loan
Debt Instrument [Line Items]
Debt face amount			$ 40	$ 47		$ 60
Debt term			3 years
Interest rate			5.00%
Debt instrument, net increase		$ 20
Percentage of loan to be repaid for debt forgiveness			66.60%
Percentage of debt forgiveness			33.30%
Canada Emergency Business Account Loan | Maximum
Debt Instrument [Line Items]
Loan amount forgiven			$ 20

LEASES - NARRATIVE (Details)

LEASES - NARRATIVE (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Proceeds from the sale of leased asset	$ 1,100
Gain on sale of asset		$ 1,982	$ 1,336
Gain from the reversal of the storage yard's lease liability in excess of the right-of-use-asset			$ 236

LEASES - ASSETS AND LIABILITIES

LEASES - ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 296	$ 249
Total right-of-use assets	296	249
Current portion of operating lease liabilities	117	111
Operating lease liabilities	180	143
Lease Liability	$ 297	$ 254
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities

LEASES - LEASE COSTS (Details)

LEASES - LEASE COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost	$ 130	$ 334
Short-term lease cost	254	69
Variable lease, cost	103	0
Total lease cost	$ 487	$ 403

LEASES - SUPPLEMENTAL LEASE INF

LEASES - SUPPLEMENTAL LEASE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 133	$ 189
Operating lease, weighted average remaining lease term (in years)	2 years 10 months 24 days	3 years 4 months 24 days
Operating lease, weighted average discount rate	5.19%	5.85%

LEASES - OPEARTING LEASE MATURI

LEASES - OPEARTING LEASE MATURITY SCHEDULE (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
2022	$ 129
2023	97
2024	58
2025	30
2026	7
Thereafter through 2027	0
Total lease payments	321
Less: amounts representing interest	(24)
Operating lease liabilities	$ 297

STOCKHOLDERS' EQUITY (DEFICIT_2

STOCKHOLDERS' EQUITY (DEFICIT) - SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 09, 2021	Sep. 30, 2021	Sep. 30, 2020
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	665,000
Share-based compensation expense		$ 643	$ 0
Income tax effect related to share-based compensation expense		0	$ 0
Total unrecognized compensation cost		$ 1,005
Period over which unrecognized compensation cost is expected to be recognized		2 years 4 months 24 days
Share-based Payment Arrangement, Tranche One
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	605,000
Shares exercise price	$ 3.33
Shares vesting period	3 years
Shares expiration period	10 years
Share-based Payment Arrangement, Tranche Two
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	60,000
Shares exercise price	$ 3.66
Shares vesting period	3 years
Shares expiration period	5 years
Share-based Payment Arrangement, Independent Director
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	310,000
Share-based Payment Arrangement, Employee
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	355,000
2018 Equity Incentive Plan
Share-based compensation arrangement by share-based payment award [Line Items]
Shares authorized and reserved for issuance (in shares)		800,000
Number of shares available for grant (in shares)		135,000

STOCKHOLDERS' EQUITY (DEFICIT_3

STOCKHOLDERS' EQUITY (DEFICIT) - EQUITY-CLASSIFIED AWARDS (Details) - USD ($)	Feb. 09, 2021	Sep. 30, 2021
Shares
Granted (in shares)	665,000
Equity-classified share options
Shares
Outstanding at the beginning of the period (in shares)		0
Granted (in shares)		665,000
Exercised (in shares)		0
Expired/Forfeited (in shares)		(50,000)
Outstanding at the end of the period (in shares)		615,000
Exercisable at the end of period (in shares)		0
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$ 0
Granted (in dollars per share)		3.36
Exercised (in dollars per share)		0
Expired/Forfeited (in dollars per share)		3.33
Outstanding at the end of the period (in dollars per share)		3.36
Exercisable at the end of period (in dollars per share)		$ 0
Weighted-Average Remaining Contractual Term
Options outstanding, weighted average remaining contractual life		8 years 10 months 24 days
Aggregate Intrinsic Value
Options outstanding, aggregate intrinsic value		$ 0
Options exercisable, aggregate intrinsic value		$ 0

STOCKHOLDERS' EQUITY (DEFICIT_4

STOCKHOLDERS' EQUITY (DEFICIT) - ESTIMATED FAIR VALUE OF EQUITY-CLASSIFIED AWARDS (Details) - $ / shares	Feb. 09, 2021	Sep. 30, 2021
Share-based compensation
Number of shares granted (in shares)	665,000
Equity-classified share options
Share-based compensation
Number of shares granted (in shares)		665,000
Equity-classified share options | Share-based Payment Arrangement, >10% Owner-Employee
Share-based compensation
Number of shares granted (in shares)		60,000
Expected volatility		127.40%
Expected dividends		0.00%
Expected term		3 years 6 months
Risk-free interest rate		0.19%
Expected forfeitures		0.00%
Fair value per share (in dollars per share)		$ 2.51
Equity-classified share options | Share-based Payment Arrangement, Others
Share-based compensation
Number of shares granted (in shares)		605,000
Expected volatility		105.80%
Expected dividends		0.00%
Expected term		6 years
Risk-free interest rate		0.82%
Expected forfeitures		0.00%
Fair value per share (in dollars per share)		$ 2.70

STOCKHOLDERS' EQUITY (DEFICIT_5

STOCKHOLDERS' EQUITY (DEFICIT) - AT THE MARKET OFFERING (Details) - USD ($) $ / shares in Units, $ in Thousands	5 Months Ended
	Sep. 30, 2021	Mar. 16, 2021	Sep. 30, 2020
Sale of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.50		$ 0.50
At The Market Offering
Sale of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.50
Sale of stock, maximum aggregate sales price	$ 25,000
Entity public float, maximum amount	$ 75,000
Common shares sold (in shares)	1,167,987
Proceeds from sale of common stock	$ 3,784
Stock issuance costs, commission and fees	$ 123

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)well	Mar. 31, 2020well	Sep. 30, 2021USD ($)	Sep. 30, 2019customerwell	Jul. 28, 2020USD ($)	Mar. 07, 2019
Commitments and contingencies
Amounts accrued under the incentive compensation plan			$ 325
Investments in land development partnerships | KD Development, LLC
Commitments and contingencies
Collaborative agreement, fees, percentage of cumulative net profits						0.72%
Investments in land development partnerships | Pool Of Various Individuals
Commitments and contingencies
Collaborative agreement, fees, percentage of cumulative net profits						0.20%
Kaupulehu Developments
Commitments and contingencies
Fees to be paid to Nearco			10.40%
Percentage of Increment II receipts to be paid to external real estate counsel for services provided in the negotiation and closing of the Increment II transaction			1.20%
Unfavorable Regulatory Action | Contract drilling
Commitments and contingencies
Number of wells not meeting specifications for plumbness | well		1		2
Number of customers with wells not meeting specifications for plumbness | customer				1
Warranty agreement, term		5 years
Triggering event, minimum pump failures attributable to lack of plumbness		2
Number of wells not meeting permitted depth | well	2
Estimate of possible loss					$ 1,200
Loss contingency accrual	$ 300

INFORMATION RELATING TO THE C_3

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Increase (decrease) from changes in:
Receivables	$ (814)	$ (598)
Income tax receivable	457	129
Other current assets	(920)	260
Accounts payable	(746)	924
Accrued compensation	668	203
Other current liabilities	(796)	(470)
(Decrease) increase from changes in current assets and liabilities	(2,151)	448
Supplemental disclosure of cash flow information:
Income taxes refunded, net	(303)	(166)
Supplemental disclosure of non-cash investing and financing activities:
Canadian income tax withholding on proceeds from sale of oil and natural gas properties	598	0
Supplemental disclosures of cash flow information:
Increase (decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	811	(52)
Oil and natural gas
Supplemental disclosures of cash flow information:
Increase in capital expenditure accruals related to oil and natural gas exploration and development	346	435
Increase (decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	$ 811	$ (52)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2021USD ($)lot	Sep. 30, 2020USD ($)lot
Gros Ventre Partners, LLC
Related party transactions
Profit sharing ratio of variable interest entity	2.00%
Asset management fee, percent fee of cumulative capital contributions	1.00%
Kaupulehu Developments
Related party transactions
Revenues - sale of interest in leasehold land	$ 1,738	$ 325
Kaupulehu Developments | KD Kaupulehu, LLLP | Investments in land development partnerships | Increment I
Related party transactions
Revenues - sale of interest in leasehold land	$ 1,738	$ 325
Number of single family lots sold | lot	8	2
Four Pines Operating LLC | Gros Ventre Partners, LLC
Related party transactions
Interest owned by member of Board of Directors	25.00%
KD Acquisition, LLLP | Investments in land development partnerships
Related party transactions
Ownership interest acquired	19.60%
KD Acquisition II, LP | Barnwell Industries Inc | Investments in land development partnerships
Related party transactions
Ownership interest acquired	10.80%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 21, 2021USD ($)lot	Sep. 30, 2021USD ($)lot	Sep. 30, 2020USD ($)
Investments in land development partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment		$ 6,011	$ 360
Kaupulehu Developments
Subsequent Event [Line Items]
Sale of interest in leasehold land		$ 1,738	$ 325
Kaupulehu Developments | KD Kaupulehu LLLP Increment I
Subsequent Event [Line Items]
Number of single family lots sold | lot		8
Subsequent Event | Drilling rigs and equipment
Subsequent Event [Line Items]
Proceeds from the sale of asset	$ 687
Subsequent Event | Investments in land development partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment	1,075
Subsequent Event | Kaupulehu Developments | KD Kaupulehu LLLP Increment I
Subsequent Event [Line Items]
Sale of interest in leasehold land	$ 600
Number of single family lots sold | lot	3

SUPPLEMENTARY OIL AND NATURAL_3

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Details) bbl in Thousands, Mcf in Thousands, Boe in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2021USD ($)BoebblMcf	Sep. 30, 2020USD ($)BoebblMcf
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Proved developed reserves - total | Boe	1,138
Proved undeveloped reserves - total | Boe	4
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Boe	933	2,198
Revisions of previous estimates | Boe	523	(1,041)
Acquisitions of reserves | Boe	130	176
Less sales of reserves | Boe	(156)	(114)
Less production | Boe	(288)	(286)
Balance at the end of the period | Boe	1,142	933
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	$ 58,490	$ 64,142
Unproved properties	962	0
Total capitalized costs	59,452	64,142
Accumulated depletion, depreciation, and impairment	56,067	61,839
Net capitalized costs	3,385	2,303
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	1,102	242
Acquisition of unproved properties	0	0
Exploration Costs	255
Development costs	1,671	2,857
Total	3,028	3,099
Additions and revisions to asset retirement obligation included in total costs incurred	811	(52)
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	10,254	6,693
Production costs	(6,556)	(4,850)
Depletion	(645)	(1,747)
Reduction of carrying value of oil and natural gas properties	(630)	(4,326)
Pre-tax results of operations	2,423	(4,230)
Estimated income tax benefit (expense)	0	0
Results of operations	2,423	(4,230)
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Future cash inflows	36,130	20,426
Future production costs	(25,323)	(17,860)
Future development costs	(240)	(73)
Future income tax expenses	(995)	(92)
Future net cash flows excluding abandonment, decommissioning and reclamation	9,572	2,401
Future abandonment, decommissioning and reclamation	(14,525)	(13,055)
Future net cash flows	(4,953)	(10,654)
10% annual discount for timing of cash flows	7,598	8,969
Standardized measure of discounted future net cash flows	2,645	(1,685)
Changes in the Standardized Measure of Discounted Future Net Cash Flows
Beginning of year	(1,685)	2,310
Sales of oil and natural gas produced, net of production costs	(3,604)	(1,843)
Net changes in prices and production costs, net of royalties and wellhead taxes	5,702	(1,876)
Net change due to purchases and sales of minerals in place	(882)	467
Previously estimated development costs incurred	0	1,305
Changes in future development costs	0	7,773
Revisions of previous quantity estimates	4,217	(10,274)
Net change in income taxes	(845)	288
Accretion of discount	(176)	230
Other - changes in the timing of future production and other	(55)	(63)
Other - net change in Canadian dollar translation rate	(27)	(2)
Net change	4,330	(3,995)
End of year	2,645	(1,685)
United States
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	217	0
Unproved properties	962	0
Total capitalized costs	1,179	0
Accumulated depletion, depreciation, and impairment	14	0
Net capitalized costs	1,165	0
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	70	0
Acquisition of unproved properties	0	0
Exploration Costs	0
Development costs	1,108	0
Total	1,178	0
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	118	0
Production costs	(24)	0
Depletion	(14)	0
Reduction of carrying value of oil and natural gas properties	0	0
Pre-tax results of operations	80	0
Estimated income tax benefit (expense)	0	0
Results of operations	80	0
Canada
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	58,273	64,142
Unproved properties	0	0
Total capitalized costs	58,273	64,142
Accumulated depletion, depreciation, and impairment	56,053	61,839
Net capitalized costs	2,220	2,303
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	1,032	242
Acquisition of unproved properties	0	0
Exploration Costs	255
Development costs	563	2,857
Total	1,850	3,099
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	10,136	6,693
Production costs	(6,532)	(4,850)
Depletion	(631)	(1,747)
Reduction of carrying value of oil and natural gas properties	(630)	(4,326)
Pre-tax results of operations	2,343	(4,230)
Estimated income tax benefit (expense)	0	0
Results of operations	$ 2,343	$ (4,230)
OIL & NGL (Bbls)
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | bbl	535	1,419
Revisions of previous estimates | bbl	291	(740)
Acquisitions of reserves | bbl	80	68
Less sales of reserves | bbl	(97)	(38)
Less production | bbl	(169)	(174)
Balance at the end of the period | bbl	640	535
Proved developed reserves - volume | bbl	636
Proved undeveloped reserves - volume | bbl	4
Natural gas
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Mcf	2,310	4,520
Revisions of previous estimates | Mcf	1,345	(1,746)
Acquisitions of reserves | Mcf	289	628
Less sales of reserves | Mcf	(341)	(443)
Less production | Mcf	(690)	(649)
Balance at the end of the period | Mcf	2,913	2,310
Proved developed reserves - volume | Mcf	2,913
Proved undeveloped reserves - volume | Mcf	0