Barnwell Industries (BRN) 10-Q13 May 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,956,687
Entity Central Index Key	0000010048
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 9,626	$ 11,279
Accounts and other receivables, net of allowance for doubtful accounts of: $192,000 at March 31, 2022; $391,000 at September 30, 2021	4,764	3,069
Income taxes receivable	638	530
Asset held for sale	0	687
Other current assets	3,228	2,470
Total current assets	18,256	18,035
Asset for retirement benefits	2,395	2,229
Operating lease right-of-use assets	276	296
Property, Plant and Equipment, Gross [Abstract]
Proved properties	70,377	58,490
Unproved properties	0	962
Drilling rigs and other property and equipment	7,680	7,960
Total property and equipment	78,057	67,412
Accumulated depletion, impairment, depreciation, and amortization	(65,552)	(63,537)
Total property and equipment, net	12,505	3,875
Total assets	33,432	24,435
Current liabilities:
Accounts payable	1,659	1,416
Accrued capital expenditures	1,360	909
Accrued compensation	555	1,073
Accrued operating and other expenses	1,266	1,171
Current portion of asset retirement obligation	1,532	713
Other current liabilities	858	619
Total current liabilities	7,230	5,901
Long-term debt	48	47
Operating lease liabilities	174	180
Liability for retirement benefits	2,131	2,101
Asset retirement obligation	8,031	6,340
Deferred income tax liabilities	357	359
Total liabilities	17,971	14,928
Commitments and contingencies
Equity:
Common stock, par value $0.50 per share; authorized, 20,000,000 shares: 10,124,587 issued at March 31, 2022; 9,613,525 issued at September 30, 2021	5,062	4,807
Additional paid-in capital	7,121	4,590
Retained earnings	5,481	2,356
Accumulated other comprehensive loss, net	19	32
Treasury stock, at cost: 167,900 shares at March 31, 2022 and September 30, 2021	(2,286)	(2,286)
Total stockholders’ equity	15,397	9,499
Non-controlling interests	64	8
Total equity	15,461	9,507
Total liabilities and equity	$ 33,432	$ 24,435

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 192	$ 391
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)	10,124,587	9,613,525
Treasury stock, shares (in shares)	167,900	167,900

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Revenues	$ 6,679	$ 3,998	$ 12,133	$ 8,385
Costs and expenses:
General and administrative	2,241	1,928	4,071	3,113
Depletion, depreciation, and amortization	618	227	1,101	503
Impairment of assets	0	0	0	630
Interest expense	0	3	0	4
Total costs and expenses	5,903	5,382	11,112	10,017
Earnings (loss) before equity in income of affiliates and income taxes	776	(1,384)	1,021	(1,632)
Equity in income of affiliates	1,760	624	2,967	1,678
Earnings (loss) before income taxes	2,536	(760)	3,988	46
Income tax provision	138	34	250	97
Net earnings (loss)	2,398	(794)	3,738	(51)
Less: Net earnings attributable to non-controlling interests	346	62	613	221
Net earnings (loss) attributable to Barnwell Industries, Inc.	$ 2,052	$ (856)	$ 3,125	$ (272)
Basic and diluted net earnings (loss) per common share attributable to Barnwell Industries, Inc. stockholders	$ 0.21	$ (0.10)	$ 0.33	$ (0.03)
Weighted-average number of common shares outstanding:
Basic and diluted (in shares)	9,570,989	8,277,160	9,507,955	8,277,160
Oil and natural gas
Revenues:
Revenues	$ 5,133	$ 2,552	$ 9,053	$ 4,439
Costs and expenses:
Costs and expenses	2,126	1,759	4,042	3,194
Depletion, depreciation, and amortization	577	146	1,013	341
Impairment of assets	0	0	0	630
Contract drilling
Revenues:
Revenues	818	1,389	1,694	3,331
Costs and expenses:
Costs and expenses	918	1,465	1,898	2,573
Depletion, depreciation, and amortization	41	77	88	153
Land investment
Revenues:
Revenues	695	0	1,295	485
Gas processing and other
Revenues:
Revenues	33	57	91	130
Costs and expenses:
Depletion, depreciation, and amortization	$ 0	$ 4	$ 0	$ 9

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 2,398	$ (794)	$ 3,738	$ (51)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes of $0	12	(85)	(13)	(319)
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	0	33	0	66
Total other comprehensive income (loss)	12	(52)	(13)	(253)
Total comprehensive income (loss)	2,410	(846)	3,725	(304)
Less: Comprehensive income attributable to non-controlling interests	(346)	(62)	(613)	(221)
Comprehensive income (loss) attributable to Barnwell Industries, Inc.	$ 2,064	$ (908)	$ 3,112	$ (525)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) (Unaudited) - 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, beginning of period (in shares) at Sep. 30, 2020		8,277,160
Balance, beginning of period at Sep. 30, 2020	$ (1,953)	$ 4,223	$ 1,350	$ (3,897)	$ (1,435)	$ (2,286)	$ 92
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	(51)			(272)			221
Foreign currency translation adjustments, net of taxes of $0	(319)				(319)
Distributions to non-controlling interests	(309)						(309)
Share-based compensation	151		151
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	66				66
Balance, end of period (in shares) at Mar. 31, 2021		8,277,160
Balance, end of period at Mar. 31, 2021	(2,415)	$ 4,223	1,501	(4,169)	(1,688)	(2,286)	4
Balance, beginning of period (in shares) at Dec. 31, 2020		8,277,160
Balance, beginning of period at Dec. 31, 2020	(1,659)	$ 4,223	1,350	(3,313)	(1,636)	(2,286)	3
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	(794)			(856)			62
Foreign currency translation adjustments, net of taxes of $0	(85)				(85)
Distributions to non-controlling interests	(61)						(61)
Share-based compensation	151		151
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	33				33
Balance, end of period (in shares) at Mar. 31, 2021		8,277,160
Balance, end of period at Mar. 31, 2021	(2,415)	$ 4,223	1,501	(4,169)	(1,688)	(2,286)	4
Balance, beginning of period (in shares) at Sep. 30, 2021		9,445,625
Balance, beginning of period at Sep. 30, 2021	9,507	$ 4,807	4,590	2,356	32	(2,286)	8
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	3,738			3,125			613
Foreign currency translation adjustments, net of taxes of $0	(13)				(13)
Distributions to non-controlling interests	(557)						(557)
Share-based compensation	427		427
Issuance of common stock for services (in shares)		1,595
Issuance of common stock for services	3	$ 0	3
Issuance of common stock, net of costs (in shares)		509,467
Issuance of common stock, net of costs	2,356	$ 255	2,101
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	0
Balance, end of period (in shares) at Mar. 31, 2022		9,956,687
Balance, end of period at Mar. 31, 2022	15,461	$ 5,062	7,121	5,481	19	(2,286)	64
Balance, beginning of period (in shares) at Dec. 31, 2021		9,446,783
Balance, beginning of period at Dec. 31, 2021	10,827	$ 4,807	4,846	3,429	7	(2,286)	24
Increase (Decrease) in Stockholders' Equity (Deficit)
Net (loss) earnings	2,398			2,052			346
Foreign currency translation adjustments, net of taxes of $0	12				12
Distributions to non-controlling interests	(306)						(306)
Share-based compensation	173		173
Issuance of common stock for services (in shares)		437
Issuance of common stock for services	1	$ 0	1
Issuance of common stock, net of costs (in shares)		509,467
Issuance of common stock, net of costs	2,356	$ 255	2,101
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	0
Balance, end of period (in shares) at Mar. 31, 2022		9,956,687
Balance, end of period at Mar. 31, 2022	$ 15,461	$ 5,062	$ 7,121	$ 5,481	$ 19	$ (2,286)	$ 64

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net earnings (loss)	$ 3,738	$ (51)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Equity in income of affiliates	(2,967)	(1,678)
Depletion, depreciation, and amortization	1,101	503
Impairment of assets	0	630
Sale of interest in leasehold land, net of fees paid	(1,137)	(426)
Distributions of income from equity investees	2,737	1,607
Retirement benefits income	(136)	(17)
Non-cash rent income	0	(2)
Accretion of asset retirement obligation	351	277
Deferred income tax (benefit) expense	(2)	14
Asset retirement obligation payments	(363)	(179)
Share-based compensation expense	427	151
Common stock issued for services	3	0
Retirement plan contributions and payments	(1)	(4)
Bad debt expense	44	7
Decrease from changes in current assets and liabilities	(2,096)	(1,170)
Net cash provided by (used in) operating activities	1,699	(338)
Cash flows from investing activities:
Distribution from equity investees in excess of earnings	230	813
Proceeds from sale of interest in leasehold land, net of fees paid	1,137	426
Proceeds from the sale of contract drilling assets	687	0
Payments to acquire oil and natural gas properties	(1,563)	0
Capital expenditures - oil and natural gas	(5,223)	(552)
Capital expenditures - all other	(9)	(24)
Payment for other non-current asset	0	(250)
Issuance of note receivable	(400)	0
Net cash (used in) provided by investing activities	(5,141)	413
Cash flows from financing activities:
Borrowings on long-term debt	0	47
Distributions to non-controlling interests	(557)	(309)
Proceeds from issuance of stock, net of costs	2,356	0
Payment of deferred offering costs	0	(23)
Net cash provided by (used in) financing activities	1,799	(285)
Effect of exchange rate changes on cash and cash equivalents	(10)	13
Net decrease in cash and cash equivalents	(1,653)	(197)
Cash and cash equivalents at beginning of period	11,279	4,584
Cash and cash equivalents at end of period	$ 9,626	$ 4,387

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona 2013 LLLP), and 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 variable interest entities in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2021 Annual Report on Form 10-K, as amended by our Form 10-K/A Amendment No. 1. The Condensed Consolidated Balance Sheet as of September 30, 2021 has been derived from audited consolidated financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2022, results of operations, comprehensive income (loss), and equity (deficit) for the three and six months ended March 31, 2022 and 2021, and cash flows for the six months ended March 31, 2022 and 2021, have been made. The results of operations for the period ended March 31, 2022 are not necessarily indicative of the operating results for the full year. Use of Estimates in the Preparation of Condensed Consolidated Financial Statements The preparation of the condensed 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. Significant Accounting Policies There have been no changes to Barnwell's significant accounting policies as described in the Notes to Consolidated Financial Statements included in Item 8 of the Company's most recently filed Annual Report on Form 10-K, as amended by our Form 10-K/A Amendment No. 1. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which enhances and simplifies various aspects of the income tax accounting guidance in ASC 740. The Company adopted the provisions of this ASU effective October 1, 2021. The adoption of this update did not have an impact on Barnwell's consolidated financial statements.

EARNINGS (LOSS) PER COMMON SHAR

EARNINGS (LOSS) PER COMMON SHARE	6 Months Ended
EARNINGS (LOSS) PER COMMON SHARE	Mar. 31, 2022
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 and 665,000 shares of common stock were excluded from the computation of diluted shares for the three and six months ended March 31, 2022 and 2021, respectively, as their inclusion would have been anti-dilutive. 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: Three months ended March 31, 2022 Net Earnings Shares Per-Share Basic net earnings per share $ 2,052,000 9,570,989 $ 0.21 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 2,052,000 9,570,989 $ 0.21 Six months ended March 31, 2022 Net Earnings Shares Per-Share Basic net earnings per share $ 3,125,000 9,507,955 $ 0.33 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 3,125,000 9,507,955 $ 0.33 Three months ended March 31, 2021 Net Loss Shares Per-Share Basic net loss per share $ (856,000) 8,277,160 $ (0.10) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (856,000) 8,277,160 $ (0.10) Six months ended March 31, 2021 Net Loss Shares Per-Share Basic net loss per share $ (272,000) 8,277,160 $ (0.03) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (272,000) 8,277,160 $ (0.03)

NOTE RECEIVABLE

NOTE RECEIVABLE	6 Months Ended
NOTE RECEIVABLE	Mar. 31, 2022
Receivables [Abstract]
NOTE RECEIVABLE	NOTE RECEIVABLE In February 2022, the Company loaned $400,000 to an unrelated third party and recorded a $400,000 note receivable. The note receivable is included in “Other current assets” in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2022. In April 2022, the loan was repaid in full and no interest was accrued during the outstanding period.

INVESTMENTS

INVESTMENTS	6 Months Ended
INVESTMENTS	Mar. 31, 2022
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 2013 LLLP (“KD Kona”) and KKM Makai, LLLP (“KKM”), and indirectly acquired a 19.6% non-controlling ownership interest in each of KD Kukio Resorts, LLLP, KD Maniniowali, LLLP and KD Kaupulehu, LLLP (“KDK”) for $5,140,000. These entities, collectively referred to hereinafter as 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 Acquisition, LLLP (“KD I”) and KD Acquisition II, LP, formerly KD Acquisition II, LLLP (“KD II”). KD I is the developer of Kaupulehu Lot 4A Increment I (“Increment I”), and KD II is the developer of Kaupulehu Lot 4A Increment II (“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, of which three lots remain to be sold at Increment I as of March 31, 2022, as well as from commissions on real estate sales by the real estate sales office and revenues resulting from the sale of private club memberships. 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 Kaupulehu Development, LLC (“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, LLLP, KD Maniniowali, LLLP, and KD I. Barnwell has the right to receive distributions from the Kukio Resort Land Development Partnerships via its non-controlling interest 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 was reflected as an additional equity pickup in the "Equity in income of affiliates" line item in the accompanying Condensed Consolidated Statement of Operations for the six months ended March 31, 2021. The preferred return payments received in the quarter ended December 31, 2020 brought the cumulative preferred return total to $656,000, which was the total amount to which Barnwell was entitled. During the six months ended March 31, 2022, Barnwell received cash distributions of $2,967,000 from the Kukio Resort Land Development Partnership resulting in a net amount of $2,643,000, after distributing $324,000 to non-controlling interests. During the six months ended March 31, 2021, Barnwell received net cash distributions in the amount of $2,205,000 after distributing $215,000 to non-controlling interests. Of the $2,205,000 net cash distributions received, $459,000 represented a payment of the preferred return from KKM, as discussed above. Barnwell’s share of the operating results of its equity affiliates was income of $1,760,000 and $2,967,000 for the three and six months ended March 31, 2022, respectively, compared to income of $624,000 and $1,678,000, which includes the $459,000 payment of the preferred return from KKM discussed above, for the three and six months ended March 31, 2021, respectively. Summarized financial information for the Kukio Resort Land Development Partnerships is as follows: Three months ended March 31, 2022 2021 Revenue $ 9,665,000 $ 7,330,000 Gross profit $ 6,433,000 $ 3,646,000 Net earnings $ 5,673,000 $ 2,702,000 Six months ended March 31, 2022 2021 Revenue $ 18,918,000 $ 15,450,000 Gross profit $ 13,147,000 $ 7,644,000 Net earnings $ 11,636,000 $ 5,314,000 In the quarter ended June 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 the Kukio Resort Land Development Partnership investment balance was reduced to zero with the distributions received in excess of our investment balance recorded as equity in income of affiliates 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 in excess of distributions during the suspended period exceeds our share of the Kukio Resort Land Development Partnership’s income recognized for the excess distributions, and during this suspended period any distributions received will be recorded as equity in income of affiliates. Accordingly, the amount of equity in income of affiliates recognized in the six months ended March 31, 2022 was equivalent to the $2,967,000 of distributions received in that period. 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 18). With respect to Increment I, Kaupulehu Developments is entitled to receive payments from KD I based on 10% of the gross receipts from KD I’s sales of single-family residential lots in Increment I. Six single-family lots were sold during the six months ended March 31, 2022 and three single-family lots, of the 80 lots developed within Increment I, remained to be sold as of March 31, 2022. 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 0.2% of the cumulative net profits of KD II to KD Development, LLC 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: Three months ended Six months ended 2022 2021 2022 2021 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 695,000 $ — $ 1,295,000 $ 485,000 Fees - included in general and administrative expenses (85,000) — (158,000) (59,000) Sale of interest in leasehold land, net of fees paid $ 610,000 $ — $ 1,137,000 $ 426,000 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

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITY	6 Months Ended
CONSOLIDATED VARIABLE INTEREST ENTITY	Mar. 31, 2022
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 “Teton Operating 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 Teton Operating 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 Venture 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 March 31, 2022, the Company has made a total of $1,250,000 in cumulative capital contributions to Teton Barnwell to fund its initial oil and natural gas investment in Oklahoma. The Company has determined that Teton Barnwell is a variable interest entity (“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 Teton Operating 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. 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. March 31, September 30, ASSETS Cash and cash equivalents $ 624,000 $ 136,000 Accounts and other receivables 1,548,000 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 909,000 203,000 Unproved properties — 962,000 Total assets $ 3,081,000 $ 1,419,000 LIABILITIES Accounts payable $ 1,000 $ 3,000 Accrued capital expenditures 277,000 581,000 Accrued operating and other expenses 35,000 20,000 Total liabilities $ 313,000 $ 604,000

ASSET HELD FOR SALE

ASSET HELD FOR SALE	6 Months Ended
ASSET HELD FOR SALE	Mar. 31, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
ASSET HELD FOR SALE	ASSET HELD FOR SALE In September 2021, the Company designated a contract drilling segment drilling rig and related ancillary equipment, with an aggregate net carrying value of $725,000, as assets held for sale and recorded an impairment of $38,000 to reduce the value of these assets to its fair value, less estimated selling costs. The fair value of these assets in the aggregate amount of $687,000 was recorded as “Assets held for sale” on the Company's Condensed Consolidated Balance Sheet at September 30, 2021. In October 2021, the Company sold the drilling rig and related ancillary equipment for proceeds of $687,000, net of related costs, which was equivalent to its net carrying value.

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES	6 Months Ended
OIL AND NATURAL GAS PROPERTIES	Mar. 31, 2022
Oil and Natural Gas Properties [Abstract]
OIL AND NATURAL GAS PROPERTIES	OIL AND NATURAL GAS PROPERTIES Acquisitions In the quarter ended December 31, 2021, Barnwell acquired working interests in oil and natural gas properties located in the Twining area of Alberta, Canada, for cash consideration of $317,000. In January 2022, Barnwell acquired additional working interests in oil and natural gas properties located in the Twining area of Alberta, Canada for consideration of $1,246,000. 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. Barnwell also assumed $1,500,000 in asset retirement obligations associated with the acquisition. There were no oil and natural gas working interest acquisitions during the six months ended March 31, 2021. 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 no ceiling test impairment during the three months ended March 31, 2022 and 2021. There was no ceiling test impairment during the six months ended March 31, 2022 and a $630,000 ceiling test impairment during the six months ended March 31, 2021. 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.

RETIREMENT PLANS

RETIREMENT PLANS	6 Months Ended
RETIREMENT PLANS	Mar. 31, 2022
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. Additionally, 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 eligible U.S. employees. 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 by resolution of the Board of Directors of the Company and sixty days ’ notice to each participant in the plan. 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. The following tables detail the components of net periodic benefit (income) cost for Barnwell’s retirement plans: Pension Plan SERP Post-retirement Medical Three months ended March 31, 2022 2021 2022 2021 2022 2021 Interest cost $ 72,000 $ 64,000 $ 15,000 $ 13,000 $ — $ 18,000 Expected return on plan assets (155,000) (137,000) — — — — Amortization of net actuarial loss — 10,000 — — — 23,000 Net periodic benefit (income) cost $ (83,000) $ (63,000) $ 15,000 $ 13,000 $ — $ 41,000 Pension Plan SERP Post-retirement Medical Six months ended March 31, 2022 2021 2022 2021 2022 2021 Interest cost $ 145,000 $ 129,000 $ 30,000 $ 26,000 $ — $ 36,000 Expected return on plan assets (311,000) (274,000) — — — — Amortization of net actuarial loss — 20,000 — — — 46,000 Net periodic benefit (income) cost $ (166,000) $ (125,000) $ 30,000 $ 26,000 $ — $ 82,000 The net periodic benefit (income) cost is included in “General and administrative” expenses in the Company's Condensed Consolidated Statements of Operations. Currently, no contributions are expected to 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 are not material. Fluctuations in actual equity market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of earnings (loss) before income taxes, after adjusting the earnings for non-controlling interests, are as follows: Three months ended Six months ended 2022 2021 2022 2021 United States $ 1,016,000 $ (931,000) $ 1,908,000 $ 491,000 Canada 1,174,000 109,000 1,467,000 (666,000) $ 2,190,000 $ (822,000) $ 3,375,000 $ (175,000) The components of the income tax provision (benefit) are as follows: Three months ended Six months ended 2022 2021 2022 2021 Current $ 172,000 $ 59,000 $ 252,000 $ 83,000 Deferred (34,000) (25,000) (2,000) 14,000 $ 138,000 $ 34,000 $ 250,000 $ 97,000 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 Barnwell receives no benefit from consolidated or unitary losses and, therefore, is subject to Oklahoma state taxes. In addition, net operating loss carryforwards, the benefit of which had not previously been recognized due to the Company's continuing full valuation allowance, are estimated to be partially utilized in the current year periods as the recognized benefit is now more likely than not.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
REVENUE FROM CONTRACTS WITH CUSTOMERS	Mar. 31, 2022
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 three and six months ended March 31, 2022 and 2021. Three months ended March 31, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 3,657,000 $ — $ — $ — $ 3,657,000 Natural gas 859,000 — — — 859,000 Natural gas liquids 617,000 — — — 617,000 Drilling and pump — 818,000 — — 818,000 Contingent residual payments — — 695,000 — 695,000 Other — — — 32,000 32,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Geographical regions: United States $ 992,000 $ 818,000 $ 695,000 $ — $ 2,505,000 Canada 4,141,000 — — 32,000 4,173,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Timing of revenue recognition: Goods transferred at a point in time $ 5,133,000 $ — $ 695,000 $ 32,000 $ 5,860,000 Services transferred over time — 818,000 — — 818,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Three months ended March 31, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 1,933,000 $ — $ — $ — $ 1,933,000 Natural gas 461,000 — — — 461,000 Natural gas liquids 158,000 — — — 158,000 Drilling and pump — 1,389,000 — — 1,389,000 Other — — — 57,000 57,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Geographical regions: United States $ — $ 1,389,000 $ — $ 4,000 $ 1,393,000 Canada 2,552,000 — — 53,000 2,605,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Timing of revenue recognition: Goods transferred at a point in time $ 2,552,000 $ — $ — $ 57,000 $ 2,609,000 Services transferred over time — 1,389,000 — — 1,389,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Six months ended March 31, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 6,325,000 $ — $ — $ — $ 6,325,000 Natural gas 1,708,000 — — — 1,708,000 Natural gas liquids 1,020,000 — — — 1,020,000 Drilling and pump — 1,694,000 — — 1,694,000 Contingent residual payments — — 1,295,000 — 1,295,000 Other — — — 89,000 89,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Geographical regions: United States $ 1,956,000 $ 1,694,000 $ 1,295,000 $ 4,000 $ 4,949,000 Canada 7,097,000 — — 85,000 7,182,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Timing of revenue recognition: Goods transferred at a point in time $ 9,053,000 $ — $ 1,295,000 $ 89,000 $ 10,437,000 Services transferred over time — 1,694,000 — — 1,694,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Six months ended March 31, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 3,313,000 $ — $ — $ — $ 3,313,000 Natural gas 836,000 — — — 836,000 Natural gas liquids 290,000 — — — 290,000 Drilling and pump — 3,331,000 — — 3,331,000 Contingent residual payments — — 485,000 — 485,000 Other — — — 130,000 130,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000 Geographical regions: United States $ — $ 3,331,000 $ 485,000 $ 4,000 $ 3,820,000 Canada 4,439,000 — — 126,000 4,565,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000 Timing of revenue recognition: Goods transferred at a point in time $ 4,439,000 $ — $ 485,000 $ 130,000 $ 5,054,000 Services transferred over time — 3,331,000 — — 3,331,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000 Contract Balances The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers: March 31, 2022 September 30, 2021 Accounts receivables from contracts with customers $ 4,446,000 $ 2,797,000 Contract assets 522,000 581,000 Contract liabilities 662,000 455,000 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 Condensed 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 March 31, 2022 and September 30, 2021, the Company had $662,000 and $455,000, respectively, included in “Other current liabilities” on the balance sheets for those performance obligations expected to be completed in the next twelve months. During the six months ended March 31, 2022 and 2021, the amount of revenue recognized that was previously included in contract liabilities as of the beginning of the respective period was $308,000 and $789,000, 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 March 31, 2022, the Company had four contract drilling jobs with original expected durations of greater than one year. For these contracts, 13% of the remaining performance obligation of $2,844,000 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 March 31, 2022 and September 30, 2021, the Company had $257,000 and $326,000, respectively, in unamortized preconstruction costs related to contracts that were not completed. During the three and six months ended March 31, 2022 and 2021, the amortization of preconstruction costs related to contracts were not material and were included in the accompanying Condensed Consolidated Statements of Operations. Additionally, no impairment charges in connection with the Company’s preconstruction costs were recorded during the three and six months ended March 31, 2022 and 2021.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
SEGMENT INFORMATION	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT 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. Three months ended Six months ended 2022 2021 2022 2021 Revenues: Oil and natural gas $ 5,133,000 $ 2,552,000 $ 9,053,000 $ 4,439,000 Contract drilling 818,000 1,389,000 1,694,000 3,331,000 Land investment 695,000 — 1,295,000 485,000 Other 32,000 57,000 89,000 130,000 Total before interest income 6,678,000 3,998,000 12,131,000 8,385,000 Interest income 1,000 — 2,000 — Total revenues $ 6,679,000 $ 3,998,000 $ 12,133,000 $ 8,385,000 Depletion, depreciation, and amortization: Oil and natural gas $ 577,000 $ 146,000 $ 1,013,000 $ 341,000 Contract drilling 41,000 77,000 88,000 153,000 Other — 4,000 — 9,000 Total depletion, depreciation, and amortization $ 618,000 $ 227,000 $ 1,101,000 $ 503,000 Impairment: Oil and natural gas $ — $ — $ — $ 630,000 Total impairment $ — $ — $ — $ 630,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 2,430,000 $ 647,000 $ 3,998,000 $ 274,000 Contract drilling (141,000) (153,000) (292,000) 605,000 Land investment 695,000 — 1,295,000 485,000 Other 32,000 53,000 89,000 121,000 Total operating profit 3,016,000 547,000 5,090,000 1,485,000 Equity in income of affiliates: Land investment 1,760,000 624,000 2,967,000 1,678,000 General and administrative expenses (2,241,000) (1,928,000) (4,071,000) (3,113,000) Interest expense — (3,000) — (4,000) Interest income 1,000 — 2,000 — Earnings (loss) before income taxes $ 2,536,000 $ (760,000) $ 3,988,000 $ 46,000

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Mar. 31, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in each component of accumulated other comprehensive income (loss) were as follows: Three months ended Six months ended 2022 2021 2022 2021 Foreign currency translation: Beginning accumulated foreign currency translation $ 237,000 $ 311,000 $ 262,000 $ 545,000 Change in cumulative translation adjustment before reclassifications 12,000 (85,000) (13,000) (319,000) Income taxes — — — — Net current period other comprehensive income (loss) 12,000 (85,000) (13,000) (319,000) Ending accumulated foreign currency translation 249,000 226,000 249,000 226,000 Retirement plans: Beginning accumulated retirement plans benefit cost (230,000) (1,947,000) (230,000) (1,980,000) Amortization of net actuarial loss — 33,000 — 66,000 Income taxes — — — — Net current period other comprehensive income — 33,000 — 66,000 Ending accumulated retirement plans benefit cost (230,000) (1,914,000) (230,000) (1,914,000) Accumulated other comprehensive income (loss), net of taxes $ 19,000 $ (1,688,000) $ 19,000 $ (1,688,000) The amortization of net actuarial loss 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 Condensed Consolidated Statements of Operations (see Note 8 for additional details).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS 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. 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

DEBT

DEBT	6 Months Ended
DEBT	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Canada Emergency Business Account Loan In the quarter ended December 31, 2020, the Company’s Canadian subsidiary, Barnwell of Canada, received a loan of CAD$40,000 (in Canadian dollars) under the Canada Emergency Business Account (“CEBA”) loan program for small businesses. In the quarter ended March 31, 2021, the Company applied for an increase to our CEBA loan and received an additional CAD$20,000 for a total loan amount received of CAD$60,000 ($47,000) under the program. In January 2022, the Canadian government announced the extension of the CEBA loan repayment deadline and interest-free period from December 31, 2022 to December 31, 2023. Accordingly, the CEBA loan is interest-free with no principal payments required until December 31, 2023, after which the remaining loan balance is converted to a two year term loan at 5% annual interest paid monthly. If the Company repays 66.6% of the principal amount prior to December 31, 2023, there will be loan forgiveness of 33.3% up to a maximum of CAD$20,000.

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	6 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT)	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	STOCKHOLDERS' EQUITY (DEFICIT) 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 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, par value $0.50 per share, having an aggregate sales price of up to $25 million (subject to certain limitations set forth in the Sales Agreement and applicable securities laws, rules and regulations), 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. During the six months ended March 31, 2022, the Company sold 509,467 shares of common stock resulting in net proceeds of $2,356,000 after commissions and fees of $75,000 and ATM-related professional services of $22,000.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Mar. 31, 2022
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES 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 quarter ended December 31, 2021, it was determined that a contract drilling segment well completed in the period did not meet the contract specifications for plumbness under a gyroscopic plumbness test which the contract required. While the well did pass the cage plumbness test, the contract uses the gyroscopic test as the measure of plumbness. Barnwell and the customer currently have a verbal arrangement where Barnwell will provide for centralizers and armored cabling and a warranty agreement, however Barnwell’s management believes the plumbness deviation is not impactful to the performance of the submersible pumps that will be installed in the well. Accordingly, while costs for the centralizers and armored cabling have been accrued, no accrual has been recorded as of March 31, 2022 for the warranty as there is no probable or estimable contingent liability.

INFORMATION RELATING TO THE CON

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	6 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended 2022 2021 Supplemental disclosure of cash flow information: Cash paid during the year for: Income taxes paid, net $ 302,000 $ 85,000 Capital expenditure accruals related to oil and natural gas exploration and development increased $443,000 during the six months ended March 31, 2022 and decreased $381,000 during the six months ended March 31, 2021. Additionally, capital expenditure accruals related to oil and natural gas asset retirement obligations increased $2,341,000 during the six months ended March 31, 2022 and decreased $12,000 during the six months ended March 31, 2021.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2022
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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSSubsequent to March 31, 2022, Barnwell received net cash distributions in the amount of $385,000 from the Kukio Resort Land Development Partnerships. Financial results of this distribution will be reflected in Barnwell's quarter ending June 30, 2022.In May 2022, Barnwell’s stockholders approved the amendment to increase the Company’s number of authorized shares of common stock from 20,000,000 to 40,000,000 shares and approved the amendments to the Company’s 2018 Equity Incentive Plan (the “2018 Plan”) which included the amendment to increase the total number of shares of stock authorized for awards granted under the 2018 Plan from 800,000 to 1,600,000 shares amongst other amendments.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona 2013 LLLP), and 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 variable interest entities in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2021 Annual Report on Form 10-K, as amended by our Form 10-K/A Amendment No. 1. The Condensed Consolidated Balance Sheet as of September 30, 2021 has been derived from audited consolidated financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2022, results of operations, comprehensive income (loss), and equity (deficit) for the three and six months ended March 31, 2022 and 2021, and cash flows for the six months ended March 31, 2022 and 2021, have been made. The results of operations for the period ended March 31, 2022 are not necessarily indicative of the operating results for the full year.
Use of Estimates in the Preparation of Condensed Consolidated Financial Statements	Use of Estimates in the Preparation of Condensed Consolidated Financial Statements The preparation of the condensed 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
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which enhances and simplifies various aspects of the income tax accounting guidance in ASC 740. The Company adopted the provisions of this ASU effective October 1, 2021. 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)	6 Months Ended
EARNINGS (LOSS) PER COMMON SHARE (Tables)	Mar. 31, 2022
Earnings Per Share [Abstract]
Reconciliations between net earnings (loss) attributable to the entity's 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: Three months ended March 31, 2022 Net Earnings Shares Per-Share Basic net earnings per share $ 2,052,000 9,570,989 $ 0.21 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 2,052,000 9,570,989 $ 0.21 Six months ended March 31, 2022 Net Earnings Shares Per-Share Basic net earnings per share $ 3,125,000 9,507,955 $ 0.33 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 3,125,000 9,507,955 $ 0.33 Three months ended March 31, 2021 Net Loss Shares Per-Share Basic net loss per share $ (856,000) 8,277,160 $ (0.10) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (856,000) 8,277,160 $ (0.10) Six months ended March 31, 2021 Net Loss Shares Per-Share Basic net loss per share $ (272,000) 8,277,160 $ (0.03) Effect of dilutive securities - common stock options — — Diluted net loss per share $ (272,000) 8,277,160 $ (0.03)

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
INVESTMENTS (Tables)	Mar. 31, 2022
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: Three months ended March 31, 2022 2021 Revenue $ 9,665,000 $ 7,330,000 Gross profit $ 6,433,000 $ 3,646,000 Net earnings $ 5,673,000 $ 2,702,000 Six months ended March 31, 2022 2021 Revenue $ 18,918,000 $ 15,450,000 Gross profit $ 13,147,000 $ 7,644,000 Net earnings $ 11,636,000 $ 5,314,000
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: Three months ended Six months ended 2022 2021 2022 2021 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 695,000 $ — $ 1,295,000 $ 485,000 Fees - included in general and administrative expenses (85,000) — (158,000) (59,000) Sale of interest in leasehold land, net of fees paid $ 610,000 $ — $ 1,137,000 $ 426,000

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITY (Tables)	6 Months Ended
CONSOLIDATED VARIABLE INTEREST ENTITY (Tables)	Mar. 31, 2022
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. March 31, September 30, ASSETS Cash and cash equivalents $ 624,000 $ 136,000 Accounts and other receivables 1,548,000 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 909,000 203,000 Unproved properties — 962,000 Total assets $ 3,081,000 $ 1,419,000 LIABILITIES Accounts payable $ 1,000 $ 3,000 Accrued capital expenditures 277,000 581,000 Accrued operating and other expenses 35,000 20,000 Total liabilities $ 313,000 $ 604,000

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	6 Months Ended
RETIREMENT PLANS (Tables)	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost (income)	The following tables detail the components of net periodic benefit (income) cost for Barnwell’s retirement plans: Pension Plan SERP Post-retirement Medical Three months ended March 31, 2022 2021 2022 2021 2022 2021 Interest cost $ 72,000 $ 64,000 $ 15,000 $ 13,000 $ — $ 18,000 Expected return on plan assets (155,000) (137,000) — — — — Amortization of net actuarial loss — 10,000 — — — 23,000 Net periodic benefit (income) cost $ (83,000) $ (63,000) $ 15,000 $ 13,000 $ — $ 41,000 Pension Plan SERP Post-retirement Medical Six months ended March 31, 2022 2021 2022 2021 2022 2021 Interest cost $ 145,000 $ 129,000 $ 30,000 $ 26,000 $ — $ 36,000 Expected return on plan assets (311,000) (274,000) — — — — Amortization of net actuarial loss — 20,000 — — — 46,000 Net periodic benefit (income) cost $ (166,000) $ (125,000) $ 30,000 $ 26,000 $ — $ 82,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
INCOME TAXES (Tables)	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Components of income (loss) before income taxes, after adjusting earnings for non-controlling interests	The components of earnings (loss) before income taxes, after adjusting the earnings for non-controlling interests, are as follows: Three months ended Six months ended 2022 2021 2022 2021 United States $ 1,016,000 $ (931,000) $ 1,908,000 $ 491,000 Canada 1,174,000 109,000 1,467,000 (666,000) $ 2,190,000 $ (822,000) $ 3,375,000 $ (175,000)
Schedule of components of the income tax (benefit) provision	The components of the income tax provision (benefit) are as follows: Three months ended Six months ended 2022 2021 2022 2021 Current $ 172,000 $ 59,000 $ 252,000 $ 83,000 Deferred (34,000) (25,000) (2,000) 14,000 $ 138,000 $ 34,000 $ 250,000 $ 97,000

REVENUE FROM CONTRACT WITH CUST

REVENUE FROM CONTRACT WITH CUSTOMERS (Tables)	6 Months Ended
REVENUE FROM CONTRACT WITH CUSTOMERS (Tables)	Mar. 31, 2022
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 three and six months ended March 31, 2022 and 2021. Three months ended March 31, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 3,657,000 $ — $ — $ — $ 3,657,000 Natural gas 859,000 — — — 859,000 Natural gas liquids 617,000 — — — 617,000 Drilling and pump — 818,000 — — 818,000 Contingent residual payments — — 695,000 — 695,000 Other — — — 32,000 32,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Geographical regions: United States $ 992,000 $ 818,000 $ 695,000 $ — $ 2,505,000 Canada 4,141,000 — — 32,000 4,173,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Timing of revenue recognition: Goods transferred at a point in time $ 5,133,000 $ — $ 695,000 $ 32,000 $ 5,860,000 Services transferred over time — 818,000 — — 818,000 Total revenues before interest income $ 5,133,000 $ 818,000 $ 695,000 $ 32,000 $ 6,678,000 Three months ended March 31, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 1,933,000 $ — $ — $ — $ 1,933,000 Natural gas 461,000 — — — 461,000 Natural gas liquids 158,000 — — — 158,000 Drilling and pump — 1,389,000 — — 1,389,000 Other — — — 57,000 57,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Geographical regions: United States $ — $ 1,389,000 $ — $ 4,000 $ 1,393,000 Canada 2,552,000 — — 53,000 2,605,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Timing of revenue recognition: Goods transferred at a point in time $ 2,552,000 $ — $ — $ 57,000 $ 2,609,000 Services transferred over time — 1,389,000 — — 1,389,000 Total revenues before interest income $ 2,552,000 $ 1,389,000 $ — $ 57,000 $ 3,998,000 Six months ended March 31, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 6,325,000 $ — $ — $ — $ 6,325,000 Natural gas 1,708,000 — — — 1,708,000 Natural gas liquids 1,020,000 — — — 1,020,000 Drilling and pump — 1,694,000 — — 1,694,000 Contingent residual payments — — 1,295,000 — 1,295,000 Other — — — 89,000 89,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Geographical regions: United States $ 1,956,000 $ 1,694,000 $ 1,295,000 $ 4,000 $ 4,949,000 Canada 7,097,000 — — 85,000 7,182,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Timing of revenue recognition: Goods transferred at a point in time $ 9,053,000 $ — $ 1,295,000 $ 89,000 $ 10,437,000 Services transferred over time — 1,694,000 — — 1,694,000 Total revenues before interest income $ 9,053,000 $ 1,694,000 $ 1,295,000 $ 89,000 $ 12,131,000 Six months ended March 31, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 3,313,000 $ — $ — $ — $ 3,313,000 Natural gas 836,000 — — — 836,000 Natural gas liquids 290,000 — — — 290,000 Drilling and pump — 3,331,000 — — 3,331,000 Contingent residual payments — — 485,000 — 485,000 Other — — — 130,000 130,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000 Geographical regions: United States $ — $ 3,331,000 $ 485,000 $ 4,000 $ 3,820,000 Canada 4,439,000 — — 126,000 4,565,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000 Timing of revenue recognition: Goods transferred at a point in time $ 4,439,000 $ — $ 485,000 $ 130,000 $ 5,054,000 Services transferred over time — 3,331,000 — — 3,331,000 Total revenues before interest income $ 4,439,000 $ 3,331,000 $ 485,000 $ 130,000 $ 8,385,000
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: March 31, 2022 September 30, 2021 Accounts receivables from contracts with customers $ 4,446,000 $ 2,797,000 Contract assets 522,000 581,000 Contract liabilities 662,000 455,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
SEGMENT INFORMATION (Tables)	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of financial information related to reporting segments	The following table presents certain financial information related to Barnwell’s reporting segments. All revenues reported are from external customers with no intersegment sales or transfers. Three months ended Six months ended 2022 2021 2022 2021 Revenues: Oil and natural gas $ 5,133,000 $ 2,552,000 $ 9,053,000 $ 4,439,000 Contract drilling 818,000 1,389,000 1,694,000 3,331,000 Land investment 695,000 — 1,295,000 485,000 Other 32,000 57,000 89,000 130,000 Total before interest income 6,678,000 3,998,000 12,131,000 8,385,000 Interest income 1,000 — 2,000 — Total revenues $ 6,679,000 $ 3,998,000 $ 12,133,000 $ 8,385,000 Depletion, depreciation, and amortization: Oil and natural gas $ 577,000 $ 146,000 $ 1,013,000 $ 341,000 Contract drilling 41,000 77,000 88,000 153,000 Other — 4,000 — 9,000 Total depletion, depreciation, and amortization $ 618,000 $ 227,000 $ 1,101,000 $ 503,000 Impairment: Oil and natural gas $ — $ — $ — $ 630,000 Total impairment $ — $ — $ — $ 630,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 2,430,000 $ 647,000 $ 3,998,000 $ 274,000 Contract drilling (141,000) (153,000) (292,000) 605,000 Land investment 695,000 — 1,295,000 485,000 Other 32,000 53,000 89,000 121,000 Total operating profit 3,016,000 547,000 5,090,000 1,485,000 Equity in income of affiliates: Land investment 1,760,000 624,000 2,967,000 1,678,000 General and administrative expenses (2,241,000) (1,928,000) (4,071,000) (3,113,000) Interest expense — (3,000) — (4,000) Interest income 1,000 — 2,000 — Earnings (loss) before income taxes $ 2,536,000 $ (760,000) $ 3,988,000 $ 46,000

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Mar. 31, 2022
Equity [Abstract]
Schedule of changes in each component of accumulated other comprehensive income (loss)	The changes in each component of accumulated other comprehensive income (loss) were as follows: Three months ended Six months ended 2022 2021 2022 2021 Foreign currency translation: Beginning accumulated foreign currency translation $ 237,000 $ 311,000 $ 262,000 $ 545,000 Change in cumulative translation adjustment before reclassifications 12,000 (85,000) (13,000) (319,000) Income taxes — — — — Net current period other comprehensive income (loss) 12,000 (85,000) (13,000) (319,000) Ending accumulated foreign currency translation 249,000 226,000 249,000 226,000 Retirement plans: Beginning accumulated retirement plans benefit cost (230,000) (1,947,000) (230,000) (1,980,000) Amortization of net actuarial loss — 33,000 — 66,000 Income taxes — — — — Net current period other comprehensive income — 33,000 — 66,000 Ending accumulated retirement plans benefit cost (230,000) (1,914,000) (230,000) (1,914,000) Accumulated other comprehensive income (loss), net of taxes $ 19,000 $ (1,688,000) $ 19,000 $ (1,688,000)

INFORMATION RELATING TO THE C_2

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	6 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Six months ended 2022 2021 Supplemental disclosure of cash flow information: Cash paid during the year for: Income taxes paid, net $ 302,000 $ 85,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2022
Kaupulehu Developments
Principles of Consolidation
Ownership interest in subsidiaries (as a percent)	77.60%
KD Kona 2013 LLLP
Principles of Consolidation
Ownership interest in subsidiaries (as a percent)	75.00%

EARNINGS (LOSS) PER COMMON SH_3

EARNINGS (LOSS) PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net Earnings (Loss) (Numerator)
Basic	$ 2,052	$ (856)	$ 3,125	$ (272)
Effect of dilutive securities - common stock options	0	0	0	0
Diluted	$ 2,052	$ (856)	$ 3,125	$ (272)
Shares (Denominator)
Basic (in shares)	9,570,989	8,277,160	9,507,955	8,277,160
Effect of dilutive securities - common stock options (in shares)	0	0	0	0
Diluted (in shares)	9,570,989	8,277,160	9,507,955	8,277,160
Per-Share Amount
Basic net earnings (loss) per share (in dollars per share)	$ 0.21	$ (0.10)	$ 0.33	$ (0.03)
Diluted net earnings (loss) per share (in dollars per share)	$ 0.21	$ (0.10)	$ 0.33	$ (0.03)
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	665,000	615,000	665,000

NOTE RECEIVABLE (Details)

NOTE RECEIVABLE (Details) $ in Thousands	Mar. 31, 2022USD ($)
Receivables [Abstract]
Note receivable, current	$ 400

INVESTMENTS - INVESTMENT IN KUK

INVESTMENTS - INVESTMENT IN KUKIO RESORT LAND DEVELOPMENT PARTNERSHIP (Details) $ in Thousands	Nov. 27, 2013USD ($)partnership	Mar. 31, 2022USD ($)lot	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)lot	Mar. 31, 2021USD ($)	Sep. 30, 2017a	Sep. 30, 2016	Jun. 30, 2021USD ($)	Mar. 07, 2019
Investment Holdings [Line Items]
Equity in income of affiliates		$ 1,760	$ 624	$ 2,967	$ 1,678
Investment 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
Cumulative cash distributions from Kukio Resort land development Partnerships, preferred return				656
Cash distribution from equity method investment, gross				2,967
Cash distribution from equity method investment, net				2,643	2,205
Equity in income of affiliates		$ 1,760	$ 624	$ 2,967	1,678
Investment in Kukio Resort Land Development Partnerships								$ 0
K D Kukio Resorts LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Kaupulehu, LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Maniniowali L L L P \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
Indirectly Acquired Interest \| Investment in land development partnerships
Investment Holdings [Line Items]
Aggregate cost	$ 5,140
KD Acquisition, LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		19.60%		19.60%
KD Kona 2013 LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	75.00%
KKM Makai LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	34.45%
KD Kaupulehu LLLP Increment I \| Investment in land development partnerships
Investment Holdings [Line Items]
Number of residential lots remaining to be sold \| lot		3		3
KD Kaupulehu, LLLP \| KD Acquisition II, LP \| Investment 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						2
Number of single family lots sold						1	1
Replay \| KD Acquisition II, LP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired									45.00%
Barnwell Industries Inc \| KD Acquisition II, LP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		10.80%		10.80%
Non-controlling Interests \| Investment in land development partnerships
Investment Holdings [Line Items]
Cash distribution from equity method investment, net				$ 324	$ 215
Minimum \| Investment 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	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Investment Holdings [Line Items]
Revenues	$ 6,679	$ 3,998	$ 12,133	$ 8,385
Net earnings	2,398	(794)	3,738	(51)
Investment in land development partnerships
Investment Holdings [Line Items]
Revenues	9,665	7,330	18,918	15,450
Gross Profit	6,433	3,646	13,147	7,644
Net earnings	$ 5,673	$ 2,702	$ 11,636	$ 5,314

INVESTMENTS - SALE OF INTEREST

INVESTMENTS - SALE OF INTEREST IN LEASEHOLD LAND (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2022lot	Mar. 07, 2019USD ($)day
KD Acquisition II, LP \| Investment 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
KD Acquisition II, LP \| KD Kaupulehu, LLLP \| Investment in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		55.00%
KD Kaupulehu LLLP Increment I \| Kaupulehu Developments
Investment Holdings [Line Items]
Number of single family lots sold	6
Number of lots remaining to be sold	3
Number of lots developed	80
KD Kaupulehu LLLP Increment II Phase 2A \| Investment in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to		3
KD Kaupulehu LLLP Increment II Phase 2A, lots completed subsequent to Phase 2A \| Investment in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to		4
Collaborative agreement, commitment to construct improvements, term \| day		90
KD Development, LLC \| Investment in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits		0.72%
Pool Of Various Individuals \| Investment in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits		0.20%
Aggregrate gross procceds 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%

INVESTMENTS - SUMMARY OF REVENU

INVESTMENTS - SUMMARY OF REVENUES (Details) - Kaupulehu Developments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Investment Holdings [Line Items]
Revenues - sale of interest in leasehold land	$ 695	$ 0	$ 1,295	$ 485
Fees - included in general and administrative expenses	(85)	0	(158)	(59)
Sale of interest in leasehold land, net of fees paid	$ 610	$ 0	$ 1,137	$ 426

INVESTMENTS - INVESTMENT IN LEA

INVESTMENTS - INVESTMENT IN LEASEHOLD LAND INTEREST - LOT 4C (Details) a in Thousands	Mar. 31, 2022a
Investment in leasehold land interest – Lot 4C
Investment Holdings [Line Items]
Area of land (in acres)	1

CONSOLIDATED VARIABLE INTERES_3

CONSOLIDATED VARIABLE INTEREST ENTITY - NARRATIVE (Details) $ in Thousands	Mar. 31, 2022USD ($)
Variable Interest Entity [Line Items]
Percentage of capital contributions to variable interest entity	100.00%
Capital contributions made to variable interest entity	$ 1,250
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%

CONSOLIDATED VARIABLE INTERES_4

CONSOLIDATED VARIABLE INTEREST ENTITY - CARRYING VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
ASSETS
Cash and cash equivalents	$ 9,626	$ 11,279
Accounts and other receivables	4,764	3,069
Total assets	33,432	24,435
LIABILITIES
Accounts payable	1,659	1,416
Accrued capital expenditures	1,360	909
Accrued operating and other expenses	1,266	1,171
Total liabilities	17,971	14,928
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents	624	136
Accounts and other receivables	1,548	118
Proved properties, net	909	203
Unproved properties	0	962
Total assets	3,081	1,419
LIABILITIES
Accounts payable	1	3
Accrued capital expenditures	277	581
Accrued operating and other expenses	35	20
Total liabilities	$ 313	$ 604

ASSET HELD FOR SALE (Details)

ASSET HELD FOR SALE (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
ASSET HELD FOR SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Long Lived Assets Held-for-sale [Line Items]
Aggregate carrying value, net	$ 12,505		$ 3,875
Proceeds from the sale of contract drilling assets	687	$ 0
Drilling Rigs And Equipment
Long Lived Assets Held-for-sale [Line Items]
Aggregate carrying value, net			725
Impairment of long-lived assets to be disposed of			38
Asset held for sale			$ 687
Proceeds from the sale of contract drilling assets	$ 687

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Oil and Natural Gas Properties [Line Items]
Payments to acquire oil and natural gas properties					$ 1,563	$ 0
Impairment of assets		$ 0		$ 0	$ 0	$ 630
Barnwell Industries Inc \| Twining, Alberta, Canada
Oil and Natural Gas Properties [Line Items]
Payments to acquire oil and natural gas properties	$ 1,246		$ 317
Asset retirement obligation assumed	$ 1,500

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
RETIREMENT PLANS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Pension Plan
Net periodic benefit cost:
Interest cost	$ 72	$ 64	$ 145	$ 129
Expected return on plan assets	(155)	(137)	(311)	(274)
Amortization of net actuarial loss	0	10	0	20
Net periodic benefit (income) cost	(83)	(63)	(166)	(125)
Other disclosures
Estimated future Pension Plan contributions	0		0
SERP
Net periodic benefit cost:
Interest cost	15	13	30	26
Expected return on plan assets	0	0	0	0
Amortization of net actuarial loss	0	0	0	0
Net periodic benefit (income) cost	15	13	30	26
Post-retirement Medical
Net periodic benefit cost:
Interest cost	0	18	0	36
Expected return on plan assets	0	0	0	0
Amortization of net actuarial loss	0	23	0	46
Net periodic benefit (income) cost	$ 0	$ 41	$ 0	$ 82

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Components of earnings (loss) before income taxes, after adjusting the earnings (loss) for non-controlling interests
United States	$ 1,016	$ (931)	$ 1,908	$ 491
Canada	1,174	109	1,467	(666)
Total	2,190	(822)	3,375	(175)
Components of the income tax provision (benefit)
Current	172	59	252	83
Deferred	(34)	(25)	(2)	14
Total	$ 138	$ 34	$ 250	$ 97

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS - DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 6,678	$ 3,998	$ 12,131	$ 8,385
Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	3,657	1,933	6,325	3,313
Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	859	461	1,708	836
Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	617	158	1,020	290
Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	695		1,295	485
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	32	57	89	130
United states
Disaggregation of Revenue [Line Items]
Revenue before interest income	2,505	1,393	4,949	3,820
Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,173	2,605	7,182	4,565
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,860	2,609	10,437	5,054
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,133	2,552	9,053	4,439
Oil and natural gas \| Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	3,657	1,933	6,325	3,313
Oil and natural gas \| Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	859	461	1,708	836
Oil and natural gas \| Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	617	158	1,020	290
Oil and natural gas \| Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Oil and natural gas \| Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0		0	0
Oil and natural gas \| Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Oil and natural gas \| United states
Disaggregation of Revenue [Line Items]
Revenue before interest income	992	0	1,956	0
Oil and natural gas \| Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,141	2,552	7,097	4,439
Oil and natural gas \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	5,133	2,552	9,053	4,439
Oil and natural gas \| Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Contract drilling \| Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Contract drilling \| Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0		0	0
Contract drilling \| Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| United states
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Contract drilling \| Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Contract drilling \| Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	818	1,389	1,694	3,331
Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	695	0	1,295	485
Land investment \| Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	695		1,295	485
Land investment \| Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| United states
Disaggregation of Revenue [Line Items]
Revenue before interest income	695	0	1,295	485
Land investment \| Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Land investment \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	695	0	1,295	485
Land investment \| Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	32	57	89	130
Other \| Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Other \| Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Other \| Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Other \| Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0	0	0
Other \| Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0		0	0
Other \| Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	32	57	89	130
Other \| United states
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	4	4	4
Other \| Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	32	53	85	126
Other \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	32	57	89	130
Other \| Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 0	$ 0	$ 0	$ 0

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - CONTRACT BALANCES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivables from contracts with customers	$ 4,446	$ 2,797
Contract assets	522	581
Contract liabilities	$ 662	$ 455

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - NARRATIVE (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Contract with customer, liability, current	$ 662		$ 455
Contract with customer, liability, revenue recognized	308	$ 789
Revenue, remaining performance obligation (backlog)	$ 2,844
Percentage anticipated to be recognized in next 12 months	13.00%
Capitalized contract cost net, preconstruction	$ 257		$ 326
Minimum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	5.00%
Maximum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	10.00%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended
SEGMENT INFORMATION (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Revenue before interest income	$ 6,678,000	$ 3,998,000	$ 12,131,000	$ 8,385,000
Interest income	1,000	0	2,000	0
Total revenues	6,679,000	3,998,000	12,133,000	8,385,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	618,000	227,000	1,101,000	503,000
Asset Impairment Charges
Impairment of assets	0	0	0	630,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	3,016,000	547,000	5,090,000	1,485,000
Equity in income of affiliates:
Equity in income of affiliates	1,760,000	624,000	2,967,000	1,678,000
General and administrative expenses	(2,241,000)	(1,928,000)	(4,071,000)	(3,113,000)
Interest expense	0	(3,000)	0	(4,000)
Interest income	1,000	0	2,000	0
Earnings (loss) before income taxes	2,536,000	(760,000)	3,988,000	46,000
Intersegment eliminations
Revenues:
Total revenues			0
Oil and natural gas
Revenues:
Revenue before interest income	5,133,000	2,552,000	9,053,000	4,439,000
Total revenues	5,133,000	2,552,000	9,053,000	4,439,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	577,000	146,000	1,013,000	341,000
Asset Impairment Charges
Impairment of assets	0	0	0	630,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	2,430,000	647,000	3,998,000	274,000
Contract drilling
Revenues:
Revenue before interest income	818,000	1,389,000	1,694,000	3,331,000
Total revenues	818,000	1,389,000	1,694,000	3,331,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	41,000	77,000	88,000	153,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	(141,000)	(153,000)	(292,000)	605,000
Land investment
Revenues:
Revenue before interest income	695,000	0	1,295,000	485,000
Total revenues	695,000	0	1,295,000	485,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	695,000	0	1,295,000	485,000
Other
Revenues:
Revenue before interest income	32,000	57,000	89,000	130,000
Total revenues	33,000	57,000	91,000	130,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	0	4,000	0	9,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	$ 32,000	$ 53,000	$ 89,000	$ 121,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Changes in foreign currency translation
Beginning accumulated foreign currency translation	$ 237	$ 311	$ 262	$ 545
Change in cumulative translation adjustment before reclassifications	12	(85)	(13)	(319)
Income taxes	0	0	0	0
Net current period other comprehensive income (loss)	12	(85)	(13)	(319)
Ending accumulated foreign currency translation	249	226	249	226
Changes in retirement plans
Beginning accumulated retirement plans benefit cost	(230)	(1,947)	(230)	(1,980)
Amortization of net actuarial loss	0	33	0	66
Income taxes	0	0	0	0
Net current period other comprehensive income	0	33	0	66
Ending accumulated retirement plans benefit cost	(230)	(1,914)	(230)	(1,914)
Accumulated other comprehensive income (loss), net of taxes	$ 19	$ (1,688)	$ 19	$ (1,688)	$ 32

DEBT (Details)

DEBT (Details) - Canada Emergency Business Account Loan $ in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021CAD ($)	Mar. 31, 2022CAD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2020CAD ($)
Debt Instrument [Line Items]
Debt face amount		$ 60	$ 47	$ 40
Debt instrument, net increase	$ 20
Debt term		2 years
Interest rate		5.00%	5.00%
Percentage of loan to be repaid for debt forgiveness		66.60%
Percentage of debt forgiveness		33.30%
Maximum amount of loan forgiveness		$ 20

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) - AT THE MARKET OFFERING (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021	Mar. 16, 2021
Sale of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.50		$ 0.50
Stock issuance costs, commissions, fees, and ATM-related professional services	$ 0	$ 23
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
Common shares sold (in shares)	509,467
Proceeds from sale of common stock	$ 2,356
At The Market Offering \| Commissions And Fees
Sale of Stock [Line Items]
Stock issuance costs, commissions, fees, and ATM-related professional services	75
At The Market Offering \| At The Market Related Professional Services
Sale of Stock [Line Items]
Stock issuance costs, commissions, fees, and ATM-related professional services	$ 22

INFORMATION RELATING TO THE C_3

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental disclosure of cash flow information:
Income taxes paid, net	$ 302	$ 85
Oil and natural gas
Supplemental disclosures of cash flow information:
Increase (decrease) in capital expenditure accruals related to oil and natural gas exploration and development	443	(381)
Increase (decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	$ 2,341	$ (12)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended		6 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Thousands	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)lot	Mar. 31, 2021USD ($)lot
Gros Ventre Partners, LLC
Related party transactions
Profit sharing ratio of variable interest entity	2.00%		2.00%
Asset management fee, percent fee of cumulative capital contributions	1.00%		1.00%
Kaupulehu Developments
Related party transactions
Revenues - sale of interest in leasehold land	$ 695	$ 0	$ 1,295	$ 485
Kaupulehu Developments \| KD Kaupulehu, LLLP \| Investment in land development partnerships \| Increment I
Related party transactions
Revenues - sale of interest in leasehold land			$ 1,295	$ 485
Number of single family lots sold \| lot			6	2
Four Pines Operating LLC \| Gros Ventre Partners, LLC
Related party transactions
Interest owned by former member of Board of Directors	25.00%		25.00%
KD Acquisition, LLLP \| Investment in land development partnerships
Related party transactions
Ownership interest acquired	19.60%		19.60%
KD Acquisition II, LP \| Barnwell Industries Inc \| Investment in land development partnerships
Related party transactions
Ownership interest acquired	10.80%		10.80%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	2 Months Ended	6 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	May 16, 2022	Mar. 31, 2022	Mar. 31, 2021	May 13, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Common stock, authorized shares (in shares)		20,000,000			20,000,000
Equity Incentive Plan 2018
Subsequent Event [Line Items]
Shares authorized and reserved for issuance (in shares)		800,000
Investment in land development partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment, net		$ 2,643	$ 2,205
Subsequent Event
Subsequent Event [Line Items]
Common stock, authorized shares (in shares)				40,000,000
Subsequent Event \| Equity Incentive Plan 2018
Subsequent Event [Line Items]
Shares authorized and reserved for issuance (in shares)				1,600,000
Subsequent Event \| Investment in land development partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment, net	$ 385