Barnwell Industries (BRN) 10-K 29 Dec 22 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Dec. 09, 2022	Mar. 31, 2022
Document and Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2022
Current Fiscal Year End Date	--09-30
Document Transition Report	false
Entity File Number	1-5103
Entity Registrant Name	BARNWELL INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-0496921
Entity Address, Address Line One	1100 Alakea Street
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813-2840
City Area Code	808
Local Phone Number	531-8400
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 12,155
Entity Common Stock, Shares Outstanding		9,956,687
Documents Incorporated by Reference	Proxy statement, to be forwarded to stockholders on or about January 13, 2023, is incorporated by reference in Part III hereof.
Entity Central Index Key	0000010048
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Common Stock
Document and Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.50 par value
Trading Symbol	BRN
Security Exchange Name	NYSEAMER
Common Stock Purchase Rights
Document and Entity Information [Line Items]
Title of 12(b) Security	Common Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSEAMER

Audit Information

Audit Information	12 Months Ended
	Sep. 30, 2022
Auditor Information [Abstract]
Auditor Name	WEAVER AND TIDWELL, L.L.P.
Auditor Location	Dallas, Texas
Auditor Firm ID	410

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 12,804	$ 11,279
Accounts and other receivables, net of allowance for doubtful accounts of: $231,000 at September 30, 2022; $391,000 at September 30, 2021	4,361	3,069
Income taxes receivable	0	530
Assets held for sale	0	687
Other current assets	2,932	2,470
Total current assets	20,097	18,035
Asset for retirement benefits	3,385	2,229
Operating lease right-of-use assets	132	296
Oil and natural gas properties, full cost method of accounting:
Proved properties, net	13,232	2,423
Unproved properties	0	962
Total oil and natural gas properties, net	13,232	3,385
Drilling rigs and other property and equipment, net	369	490
Total assets	37,215	24,435
Current liabilities:
Accounts payable	1,462	1,416
Accrued capital expenditures	1,655	909
Accrued compensation	999	1,073
Accrued operating and other expenses	1,576	1,171
Current portion of asset retirement obligation	1,327	713
Other current liabilities	1,908	619
Total current liabilities	8,927	5,901
Long-term debt	44	47
Operating lease liabilities	117	180
Liability for retirement benefits	1,649	2,101
Asset retirement obligation	7,129	6,340
Deferred income tax liabilities	188	359
Total liabilities	18,054	14,928
Commitments and contingencies (Note 17)
Equity:
Common stock, par value $0.50 per share; authorized, 40,000,000 shares: 10,124,587 issued at September 30, 2022; 9,613,525 issued at September 30, 2021	5,062	4,807
Additional paid-in capital	7,351	4,590
Retained earnings	7,720	2,356
Accumulated other comprehensive income, net	1,294	32
Treasury stock, at cost: 167,900 shares at September 30, 2022 and 2021	(2,286)	(2,286)
Total stockholders’ equity	19,141	9,499
Non-controlling interests	20	8
Total equity	19,161	9,507
Total liabilities and equity	$ 37,215	$ 24,435

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.50
Common stock, authorized shares (in shares)	40,000,000	20,000,000
Common stock, issued shares (in shares)	10,124,587	9,613,525
Treasury stock, shares (in shares)	167,900	167,900
Accounts receivable, allowance for doubtful accounts	$ 231	$ 391

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Revenues	$ 28,545	$ 18,113
Costs and expenses:
General and administrative	8,044	7,088
Depletion, depreciation, and amortization	2,778	963
Impairment of assets	89	668
Foreign currency loss	484	0
Interest expense	1	13
Gain on debt extinguishment	0	(149)
Gain on termination of post-retirement medical plan	0	(2,341)
Gain on sale of assets	0	(1,982)
Total costs and expenses	25,426	16,371
Earnings before equity in income of affiliates and income taxes	3,119	1,742
Equity in income of affiliates	3,400	5,793
Earnings before income taxes	6,519	7,535
Income tax provision	347	332
Net earnings	6,172	7,203
Less: Net earnings attributable to non-controlling interests	659	950
Net earnings attributable to Barnwell Industries, Inc. stockholders	$ 5,513	$ 6,253
Basic net earnings per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.57	$ 0.73
Diluted net earnings per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.57	$ 0.73
Weighted-average number of common shares outstanding:
Basic (in shares)	9,732,936	8,592,154
Diluted (in shares)	9,732,936	8,592,154
Oil and natural gas
Revenues:
Revenues	$ 22,581	$ 10,254
Costs and expenses:
Costs and expenses	9,439	6,556
Depletion, depreciation, and amortization	2,606	645
Impairment of assets	0	630
Contract drilling
Revenues:
Revenues	4,540	5,809
Costs and expenses:
Costs and expenses	4,591	5,555
Depletion, depreciation, and amortization	171	305
Impairment of assets	0	38
Sale of interest in leasehold land
Revenues:
Revenues	1,295	1,738
Costs and expenses:
Impairment of assets	89	0
Gas processing and other
Revenues:
Revenues	129	312
Costs and expenses:
Depletion, depreciation, and amortization	$ 1	$ 13

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net earnings	$ 6,172	$ 7,203
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of taxes of $0	(40)	(283)
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	0	101
Net actuarial gain arising during the period, net of taxes of $0	1,302	1,108
Gain on termination of post-retirement medical plan, net of taxes of $0		541
Total other comprehensive income	1,262	1,467
Total comprehensive income	7,434	8,670
Less: Comprehensive income attributable to non-controlling interests	(659)	(950)
Comprehensive income attributable to Barnwell Industries, Inc.	6,775	7,720
Post-retirement Medical
Retirement plans:
Gain on termination of post-retirement medical plan, net of taxes of $0	$ 0	$ 541

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Foreign currency translation adjustments, taxes	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	0	0
Net actuarial gain arising during the period, taxes	0	0
Gain on termination of post-retirement medical plan, taxes		0
Post-retirement Medical
Gain on termination of post-retirement medical plan, taxes	$ 0	$ 0

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-controlling Interests
Balance at Sep. 30, 2020	$ (1,953)	$ 4,223	$ 1,350	$ (3,897)	$ (1,435)	$ (2,286)	$ 92
Balance (in shares) at Sep. 30, 2020		8,277,160
Increase (Decrease) in Stockholders' Equity (Deficit)
Net earnings	7,203			6,253			950
Foreign currency translation adjustments, net of taxes of $0	(283)				(283)
Distributions to non-controlling interests	(1,034)						(1,034)
Share-based compensation	643		643
Issuance of common stock, net of costs (in shares)		1,167,987
Issuance of common stock, net of costs	3,179	$ 583	2,596
Issuance of common stock for services (in shares)		478
Issuance of common stock for services	2	$ 1	1
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	101				101
Net actuarial gain arising during the period, net of taxes of $0	1,108				1,108
Gain on termination of post-retirement medical plan, net of taxes of $0	541				541
Balance at Sep. 30, 2021	9,507	$ 4,807	4,590	2,356	32	(2,286)	8
Balance (in shares) at Sep. 30, 2021		9,445,625
Increase (Decrease) in Stockholders' Equity (Deficit)
Net earnings	6,172			5,513			659
Foreign currency translation adjustments, net of taxes of $0	(40)				(40)
Distributions to non-controlling interests	(647)						(647)
Share-based compensation	657		657
Issuance of common stock, net of costs (in shares)		509,467
Issuance of common stock, net of costs	2,356	$ 255	2,101
Issuance of common stock for services (in shares)		1,595
Issuance of common stock for services	3	$ 0	3
Dividends declared, $0.015 per share	(149)			(149)
Retirement plans:
Amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	0
Net actuarial gain arising during the period, net of taxes of $0	1,302				1,302
Balance at Sep. 30, 2022	$ 19,161	$ 5,062	$ 7,351	$ 7,720	$ 1,294	$ (2,286)	$ 20
Balance (in shares) at Sep. 30, 2022		9,956,687

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	0	0
Net actuarial gain arising during the period, taxes	$ 0	0
Gain on termination of post-retirement medical plan, taxes		$ 0
Dividends declared, cash paid per share	$ 0.015

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings	$ 6,172	$ 7,203
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in income of affiliates	(3,400)	(5,793)
Depletion, depreciation, and amortization	2,778	963
Impairment of assets	89	668
Gain on sale of oil and natural gas properties	0	(818)
Gain on sale of other assets	0	(1,164)
Sale of interest in leasehold land, net of fees paid	(1,137)	(1,526)
Distributions of income from equity investees	3,170	5,045
Retirement benefits income	(272)	(88)
Accretion of asset retirement obligation	767	580
Deferred income tax (benefit) expense	(171)	165
Asset retirement obligation payments	(942)	(421)
Share-based compensation expense	657	643
Common stock issued for services	3	1
Non-cash rent income	(1)	(4)
Retirement plan contributions and payments	(3)	(14)
Bad debt expense	124	32
Foreign currency loss	484	0
Gain on debt extinguishment	0	(149)
Gain on termination of post-retirement medical plan	0	(2,341)
Decrease from changes in current assets and liabilities	(1,027)	(2,151)
Net cash provided by operating activities	7,291	831
Cash flows from investing activities:
Distributions from equity investees in excess of earnings	230	1,649
Proceeds from sale of interest in leasehold land, net of fees paid	1,137	1,526
Proceeds from sale of oil and natural gas assets	503	581
Proceeds from sale of contract drilling and other assets, net of closing costs	687	1,864
Deposit for sale of contract drilling asset	551	0
Payments to acquire oil and natural gas properties	(1,563)	(348)
Capital expenditures - oil and natural gas	(8,607)	(1,523)
Capital expenditures - all other	(50)	(63)
Net cash (used in) provided by investing activities	(7,112)	3,686
Cash flows from financing activities:
Borrowings on long-term debt	0	47
Distributions to non-controlling interests	(647)	(1,034)
Proceeds from issuance of stock, net of costs	2,356	3,179
Payment of dividends	(149)	0
Net cash provided by financing activities	1,560	2,192
Effect of exchange rate changes on cash and cash equivalents	(214)	(14)
Net increase in cash and cash equivalents	1,525	6,695
Cash and cash equivalents at beginning of year	11,279	4,584
Cash and cash equivalents at end of year	$ 12,804	$ 11,279

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Barnwell is engaged in the following lines of business: 1) acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma, 2) investing in land interests in Hawaii, and 3) drilling wells and installing and repairing water pumping systems in Hawaii. Principles of Consolidation The consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona), and a variable interest entity (Teton Barnwell Fund I, LLC) for which the Company is deemed to be the primary beneficiary. All significant intercompany accounts and transactions have been eliminated. Undivided interests in oil and natural gas exploration and production joint ventures are consolidated on a proportionate basis. Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in VIEs in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates. Significant assumptions are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements, obligations for retirement plans, contract drilling estimated costs to complete, proved oil and natural gas reserves, and the carrying value of other assets, and such assumptions may impact the amount at which such items are recorded. Reclassifications Certain reclassifications of prior period amounts have been made in the Notes to Consolidated Financial Statements to conform to the current period presentations. Revenue Recognition Barnwell operates in and derives revenue from the following three principal business segments: • Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and Oklahoma. • Land Investment Segment - Barnwell invests in land interests in Hawaii. • Contract Drilling Segment - Barnwell provides well drilling services and water pumping system installation and repairs in Hawaii. Oil and Natural Gas - Barnwell’s investments in oil and natural gas properties are located in Alberta, Canada and Oklahoma. These property interests are principally held under governmental leases or licenses. Barnwell sells the large majority of its oil, natural gas and natural gas liquids production under short-term contracts between itself and marketers based on prices indexed to market prices and recognizes revenue at a point in time when the oil, natural gas and natural gas liquids are delivered, as this is where Barnwell’s performance obligation is satisfied and title has passed to the customer. Land Investment - Barnwell is entitled to receive contingent residual payments from the entities that previously purchased Barnwell’s land investment interests under contracts entered into in prior years. The residual payments under those contracts become due when the entities sell lots and/or residential units in the areas that were previously sold under the aforementioned contracts or when a preferred payment threshold is achieved. The residual payments received by Barnwell are recognized as revenue when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Contract Drilling - Through contracts which are normally less than twelve months in duration, Barnwell drills water and water monitoring wells and installs and repairs water pumping systems in Hawaii. Barnwell recognizes revenue from well drilling or the installation of pumps over time based on total costs incurred on the projects relative to the total expected costs to satisfy the performance obligation as management believes this is an accurate representation of the percentage of completion as control is continuously transferred to the customer. Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets until control is transferred to the customer. When the estimate on a contract indicates a loss, Barnwell records the entire estimated loss in the period the loss becomes known. The contract price may include variable consideration, which includes such items as increases to the transaction price for unapproved change orders and claims for which price has not yet been agreed by the customer. The Company estimates variable consideration using either the most likely amount or expected value method, whichever is a more appropriate reflection of the amount to which it expects to be entitled based on the characteristics and circumstances of the contract. Variable consideration is included in the estimated transaction price to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. Contract price and cost estimates are reviewed periodically as work progresses and adjustments proportionate to the costs incurred to date to total estimated costs at completion are reflected in contract revenues in the reporting period when such estimates are revised. The nature of accounting for these contracts is such that refinements of the estimated costs to complete may occur and are characteristic of the estimation process due to changing conditions and new developments. Many factors and assumptions can and do change during a contract performance obligation period which can result in a change to contract profitability including unforeseen underground geological conditions (to the extent that contract remedies are unavailable), the availability and costs of skilled contract labor, the performance of major material suppliers, the performance of major subcontractors, unusual weather conditions and unexpected changes in material costs, changes in the scope and nature of the work to be performed, and unexpected construction execution errors, among others. These factors may result in revisions to costs and income and are recognized in the period in which the revisions become known. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. Management evaluates the performance of contracts on an individual basis. In the ordinary course of business, but at least quarterly, we prepare updated estimates that may impact the cost and profit or loss for each contract based on actual results to date plus management's best estimate of costs to be incurred to complete each performance obligation. The cumulative effect of revisions in estimates of the total forecasted revenue and costs, including any unapproved change orders and claims, during the course of the contract is reflected in the accounting period in which the facts that caused the revision become known. Changes in the cost estimates can have a material impact on our consolidated financial statements and are reflected in the results of operations when they become known. Unexpected significant inefficiencies that were not considered a risk at the time of entering into the contract, such as design or construction execution errors that result in significant wasted resources, are excluded from the measure of progress toward completion and the costs are expensed as incurred. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. Contract liabilities are included in “Other current liabilities” on the Company’s Consolidated Balance Sheets. Costs and estimated earnings in excess of billings represent certain amounts under customer contracts that were earned and billable, but yet not invoiced, and are included in contract assets and reported in “Other current assets” on the Company’s Consolidated Balance Sheets. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and short-term investments with original maturities of three months or less. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain bank account balances with high quality financial institutions which often exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash. Accounts and Other Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is Barnwell’s best estimate of the amount of probable credit losses in Barnwell’s existing accounts receivable and is based on historical write-off experience and the application of the specific identification method. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Barnwell does not have any off-balance sheet credit exposure related to its customers. Investments in Real Estate Barnwell accounts for sales of Increment I and Increment II leasehold land interests under the full accrual method. Gains from such sales were recognized when the buyer’s investments were adequate to demonstrate a commitment to pay for the property, risks and rewards of ownership transferred to the buyer, and Barnwell did not have a substantial continuing involvement with the property sold. With regard to payments Kaupulehu Developments is entitled to receive from KD I and KD II, the percentage of sales payments from KD I and KD II and percentage of distributions from KD II are contingent future profits which will be recognized when they are realized. All costs of the sales of Increment I and Increment II leasehold land interests were recognized at the time of sale and were not deferred to future periods when any contingent profits will be recognized. The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is the primary beneficiary, may require significant judgment. Barnwell analyzes its entities in which it has a variable interest to determine whether the entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. Entities that have been determined to be VIEs and for which we have a controlling financial interest and are therefore the VIE’s primary beneficiary are consolidated (see Note 4). Entities that have been determined to be VIEs and for which we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary are not consolidated. These unconsolidated entities are accounted for under the equity method (see Note 3). Equity Method Investments Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3% to 5% ownership interest and does not control, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments and other adjustments required by the equity method. Gains or losses are realized when such investments are sold. Barnwell classifies distributions received from equity method investments using the cumulative earnings approach in the Consolidated Statements of Cash Flows. Under the cumulative earnings approach, distributions received up to the amount of cumulative equity in earnings recognized are treated as returns on investment and are classified within operating cash flows and those in excess of that amount are treated as returns of investment and are classified within investing cash flows. Investments in equity method investees are evaluated for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their respective fair values, additional impairment tests are performed to measure the amounts of the impairment losses, if any. When an impairment test demonstrates that the fair value of an investment is less than its carrying value, management will determine whether the impairment is either temporary or other-than-temporary. Examples of factors which may be indicative of an other-than-temporary impairment include (a) the length of time and extent to which fair value has been less than carrying value, (b) the financial condition and near-term prospects of the investee, and (c) the intent and ability to retain the investment in the investee for a period of time sufficient to allow for any anticipated recovery in fair value. If the decline in fair value is determined by management to be other-than-temporary, the carrying value of the investment is written down to its estimated fair value as of the balance sheet date of the reporting period in which the assessment is made. Oil and Natural Gas Properties Barnwell uses the full cost method of accounting under which all costs incurred in the acquisition, exploration and development of oil and natural gas reserves, including costs related to unsuccessful wells and estimated future site restoration and abandonment, are capitalized. We capitalize internal costs that can be directly identified with our acquisition, exploration and development activities and do not include any costs related to production, general corporate overhead or similar activities. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. Costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unevaluated and unproved properties are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under the full cost method of accounting, we review the carrying value of our oil and natural gas properties, on a country-by-country basis, each quarter in what is commonly referred to as the ceiling test. Under the ceiling test, capitalized costs, net of accumulated depletion and oil and natural gas related deferred income taxes, may not exceed an amount equal to the sum of 1) the discounted present value (at 10%), using average first-day-of-the-month prices during the 12-month period ending as of the balance sheet date held constant over the life of the reserves, of Barnwell’s estimated future net cash flows from estimated production of proved oil and natural gas reserves as determined by independent petroleum reserve engineers, less estimated future expenditures to be incurred in developing and producing the proved reserves but excluding future cash outflows associated with settling asset retirement obligations with the exception of those associated with proved undeveloped reserves from wells that are to be drilled in the future; plus 2) the cost of major development projects and unproven properties not subject to depletion, if any; plus 3) the lower of cost or estimated fair value of unproven properties included in costs subject to depletion; less 4) related income tax effects. If net capitalized costs exceed this limit, the excess is expensed. Depletion is computed using the units-of-production method whereby capitalized costs, net of estimated salvage values, plus estimated future costs to develop proved reserves and satisfy asset retirement obligations, are amortized over the total estimated proved reserves on a country-by-country basis. Investments in major development projects are not depleted until either proved reserves are associated with the projects or impairment has been determined. Proceeds from the disposition of oil and natural gas properties are credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves in a particular country. Given the volatility of oil and gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved oil and gas reserves could change in the near term. If oil and gas prices decline in the future, even if only for a short period of time, it is possible that impairments of oil and gas properties could occur. In addition, it is reasonably possible that impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved oil and gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved oil and gas reserves. Barnwell’s sales reflect its working interest share after royalties. Barnwell’s production is generally delivered and sold at the plant gate. Barnwell does not have transportation volume commitments with pipelines and does not have natural gas imbalances related to natural gas balancing arrangements with its partners. Acquisitions In accordance with the guidance for business combinations, Barnwell determines whether an acquisition is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method of accounting. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Under both methods purchase prices are allocated to acquired assets and assumed liabilities based on their estimated fair value at the time of the acquisition. For transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company capitalizes acquisition-related costs and fees associated with asset acquisitions and immediately expenses acquisition-related costs and fees associated with business combinations. Long-lived Assets Long-lived assets to be held and used, other than oil and natural gas properties, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future net cash flows expected to result from use of the asset (undiscounted and without interest charges). If it is determined that the asset may not be recoverable, impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of the asset carrying value or fair value, less cost to sell. Water well drilling rigs, office and other property and equipment are depreciated using the straight-line method based on estimated useful lives. Share-based Compensation Share-based compensation cost is measured at fair value. Barnwell utilizes a closed-form valuation model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of Barnwell’s stock over a period consistent with that of the expected terms of the options. The expected terms of the options represent expectations of future employee exercise and are estimated based on factors such as vesting periods, contractual expiration dates, historical trends in Barnwell’s stock price, and historical exercise behavior. If the Company does not have sufficient historical data regarding employee exercise behavior, the “simplified method” as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment is utilized to estimate the expected terms of the options. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms. Expected dividends are based on historical dividend payments. The Company's policy is to recognize forfeitures as they occur. Retirement Plans Barnwell accounts for its defined benefit pension plan, Supplemental Executive Retirement Plan, and post-retirement medical insurance benefits plan, which was terminated in June 2021, by recognizing the over-funded or under-funded status as an asset or liability in its Consolidated Balance Sheets and recognizes changes in that funded status in the year in which the changes occur through comprehensive income. See further discussion at Note 8. The estimation of Barnwell’s retirement plan obligations, costs and liabilities requires management to estimate the amount and timing of cash outflows for projected future payments and cash inflows for maturities and expected returns on plan assets. These assumptions may have an effect on the amount and timing of future contributions. At the end of each year, Barnwell determines the discount rate to be used to calculate the present value of plan liabilities and the net periodic benefit cost. The discount rate is an estimate of the current interest rate at which the retirement plan liabilities could be effectively settled at the end of the year. In estimating this rate, Barnwell performs a cash-flow matching discount rate analysis developed using high-quality corporate bonds yield. The discount rate used to value the future benefit obligation as of each year-end is the rate used to determine the periodic benefit cost in the following year. The expected long-term return on assets assumption for the pension plans represents the average rate of return to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. The actual fair value of plan assets and estimated rate of return is used to determine the expected investment return during the year. The estimated rate of return on plan assets is based on an estimate of future experience for plan asset returns, the mix of plan assets, current market conditions, and expectations for future market conditions. A decrease (increase) of 50 basis points in the expected return on assets assumption would increase (decrease) pension expense by approximately $56,000 based on the assets of the plan at September 30, 2022. The effects of changing assumptions are included in unamortized net gains and losses, which directly affect accumulated other comprehensive income. These unamortized gains and losses in excess of certain thresholds are amortized and reclassified to (loss) income over the average remaining service life of active employees. Asset Retirement Obligation Barnwell accounts for asset retirement obligations by recognizing the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires assumptions and judgments regarding the existence of liabilities, the amount and timing of cash outflows required to settle the liability, what constitutes adequate restoration, inflation factors, credit adjusted discount rates, and consideration of changes in legal, regulatory, environmental and political environments. Abandonment and restoration cost estimates are determined in conjunction with Barnwell’s reserve engineers based on historical information regarding costs incurred to abandon and restore similar well sites, information regarding current market conditions and costs, and knowledge of subject well sites and properties. These assumptions represent Level 3 inputs. Barnwell’s estimated site restoration and abandonment costs of its oil and natural gas properties are capitalized as part of the carrying amount of oil and natural gas properties and depleted over the life of the related reserves. When the assumptions used to estimate a recorded asset retirement obligation change, a revision is recorded to both the asset retirement obligation and the capitalized cost of asset retirements. The liability is accreted at the end of each period through charges to oil and natural gas operating expense. Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax impacts of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Management evaluates its potential exposures from tax positions taken that have been or could be challenged by taxing authorities. These potential exposures result because taxing authorities may take positions that differ from those taken by management in the interpretation and application of statutes, regulations and rules. Management considers the possibility of alternative outcomes based upon past experience, previous actions by taxing authorities (e.g., actions taken in other jurisdictions) and advice from tax experts. Recognized tax positions are initially and subsequently measured as the largest amount of tax benefit that is more likely than not of being realized upon ultimate settlement with a taxing authority on a jurisdiction-by-jurisdiction basis. Liabilities for unrecognized tax benefits related to such tax positions are included in long-term liabilities unless the tax position is expected to be settled within the upcoming year, in which case the liabilities are included in current liabilities. Interest and penalties related to uncertain tax positions are included in income tax expense. Environmental Barnwell is subject to extensive environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and maintenance of surface conditions and may require Barnwell to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable, and the costs can be reasonably estimated. Barnwell recognizes an insurance receivable related to environmental expenditures when collection of the receivable is deemed probable. Any recognition of an insurance receivable is recorded by crediting and offsetting the original charge. Any differential arising between insurance recoveries and insurance receivables is expensed or capitalized, consistent with the original treatment. Foreign Currency Translations and Transactions Assets and liabilities of foreign subsidiaries are translated at the year-end exchange rate. Operating results of foreign subsidiaries are translated at average exchange rates during the period. Translation adjustments have no effect on net income and are included in “Accumulated other comprehensive income, net” in stockholders’ equity. Foreign currency gains or losses on intercompany loans and advances that are not considered long-term investments in nature because management intends to settle these intercompany balances in the future are included in our statements of operations. Fair Value Measurements Fair value is defined as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities in active markets and have the highest priority. • Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs for the financial asset or liability and have the lowest priority. Recently Adopted Accounting Pronouncements In 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 s

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE Basic earnings per share is computed using the weighted-average number of common shares outstanding for the period. Diluted earnings 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 per share if their effect is anti-dilutive. Options to purchase 615,000 shares were excluded from the computation of diluted shares for the years ended September 30, 2022 and 2021, as their inclusion would have been anti-dilutive. Reconciliations between net earnings attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net earnings per share computations are detailed in the following tables: Year ended September 30, 2022 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 5,513,000 9,732,936 $ 0.57 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 5,513,000 9,732,936 $ 0.57 Year ended September 30, 2021 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 6,253,000 8,592,154 $ 0.73 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 6,253,000 8,592,154 $ 0.73

INVESTMENTS

INVESTMENTS	12 Months Ended
	Sep. 30, 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 and KKM, and indirectly acquired a 19.6% non-controlling ownership interest in each of KD Kukio Resorts, KD Maniniowali, and KDK for $5,140,000. The Kukio Resort Land Development Partnerships own certain real estate and development rights interests in the Kukio, Maniniowali and Kaupulehu portions of Kukio Resort, a private residential community on the Kona coast of the island of Hawaii, as well as Kukio Resort’s real estate sales office operations. KDK holds interests in KD I and KD II. KD I is the developer of Increment I and KD II is the developer of Increment II. Barnwell's ownership interests in the Kukio Resort Land Development Partnerships is accounted for using the equity method of accounting. The partnerships derive income from the sale of residential parcels, of which two lots, one being a large lot that is now a consolidation of two previous separate lots and one being an original size lot, remain to be sold at Increment I as of September 30, 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, a party unrelated to Barnwell, in an effort to move forward with development of the remainder of Increment II at Kaupulehu. KDK and Replay hold ownership interests of 55% and 45%, respectively, of KD II and Barnwell has a 10.8% indirect non-controlling ownership interest in KD II through KDK, which is accounted for using the equity method of accounting. Barnwell continues to have an indirect 19.6% non-controlling ownership interest in KD Kukio Resorts, KD Maniniowali, and KD I. Barnwell has the right to receive distributions from the Kukio Resort Land Development Partnerships via its non-controlling interests in KD Kona and KKM, based on its respective partnership sharing ratios of 75% and 34.45%, respectively. Additionally, Barnwell was entitled to a preferred return from KKM on any allocated equity in income of the Kukio Resort Land Development Partnerships in excess of its partnership sharing ratio for cumulative distributions to all of its partners in excess of $45,000,000 from those partnerships. Cumulative distributions from the Kukio Resort Land Development Partnerships reached the $45,000,000 threshold, and accordingly, Barnwell received a total of $459,000 in preferred return payments in the year ended September 30, 2021. The payments were reflected as an additional equity pickup in the "Equity in income of affiliates" line item on the accompanying Consolidated Statement of Operations for the year ended September 30, 2021. Those preferred return payments brought the cumulative preferred return total to $656,000, which was the total amount to which Barnwell was entitled. During the year ended September 30, 2022, Barnwell received cash distributions of $3,400,000 from the Kukio Resort Land Development Partnership resulting in a net amount of $3,028,000, after distributing $372,000 to non-controlling interests. During the year ended September 30, 2021, Barnwell received net cash distributions in the amount of $6,011,000 from the Kukio Resort Land Development Partnerships after distributing $683,000 to non-controlling interests. Of the $6,011,000 net cash distribution received from the Kukio Resort Land Development Partnerships, $459,000 represented a payment of the preferred return from KKM, as discussed above. Equity in income of affiliates was $3,400,000 for the year ended September 30, 2022, as compared to equity in income of affiliates of $5,793,000 for the year ended September 30, 2021, which includes the $459,000 payment of the preferred return from KKM discussed above. Summarized financial information for the Kukio Resort Land Development Partnerships is as follows: Year ended September 30, 2022 2021 Revenue $ 24,577,000 $ 43,013,000 Gross profit $ 16,934,000 $ 24,759,000 Net earnings $ 13,763,000 $ 20,612,000 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 year ended September 30, 2022 was equivalent to the $3,400,000 of distributions received in that period. Cumulative distributions received from the Kukio Resort Land Development Partnerships in excess of our investment balance was $958,000 at September 30, 2022 and $654,000 at September 30, 2021. 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 19). 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 year ended September 30, 2022 and two single-family lots, of the 80 lots developed within Increment I, remained to be sold as of September 30, 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 0.20% of the cumulative net profits of KD II to KD Development and a pool of various individuals, respectively, all of whom are partners of KKM and are unrelated to Barnwell, in compensation for the agreement of these parties to admit the new development partner for Increment II. Such compensation will be reflected as the obligation becomes probable and the amount of the obligation can be reasonably estimated. The following table summarizes the Increment I revenues from KD I and the amount of fees directly related to such revenues (see Note 17 “Commitments and Contingencies - Other Matters”): Year ended September 30, 2022 2021 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 1,295,000 $ 1,738,000 Fees - included in general and administrative expenses (158,000) (212,000) Sale of interest in leasehold land, net of fees paid $ 1,137,000 $ 1,526,000 In November 2022, one lot within Increment I was sold and Kaupulehu Developments received a percentage of sales payment of $265,000 from the sale, leaving one lot remaining to be sold in Increment I. Financial results from the receipt of this payment will be reflected in Barnwell's first quarter of fiscal 2023 ending December 31, 2022. There is no assurance with regards to the amounts of future payments from Increment I or Increment II to be received, or that the remaining acreage within Increment II will be developed. No definitive development plans have been made by the developer of Increment II as of the date of this report. Investment in Leasehold Land Interest – Lot 4C Kaupulehu Developments holds an interest in an area of approximately 1,000 acres of vacant leasehold land zoned conservation located adjacent to Lot 4A, which currently has no development potential without both a development agreement with the lessor and zoning reclassification. The lease terminates in December 2025.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITY	12 Months Ended
	Sep. 30, 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 previously affiliated with the Company (see Note 19 for additional details), 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 Ventre is paid an annual asset management fee equal to 1% of the cumulative capital contributions made to Teton Barnwell as compensation for its management services. BOK is responsible for 100% of the capital contributions made to Teton Barnwell and as of September 30, 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 and has received a total of $2,058,000 in distributions, net of non-controlling interests, from Teton Barnwell out of Teton Barnwell's operating cash flows. In October 2022, an additional $711,000 distribution, net of non-controlling interests, was received from Teton Barnwell. These contributions and distributions between Teton Barnwell and the Company do not affect our reported consolidated cash flows as Teton Barnwell is a consolidated entity, as discussed further below. The Company has determined that Teton Barnwell is a VIE as the entity is structured with non-substantive voting rights and that the Company is the primary beneficiary. This is due to the fact that even though Teton Barnwell has a unanimous consent voting structure, BOK is responsible for 100% of the capital contributions required to fund Teton Barnwell’s future oil exploration and development investments pursuant to the 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. September 30, September 30, ASSETS Cash and cash equivalents $ 623,000 $ 136,000 Accounts and other receivables 606,000 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 655,000 203,000 Unproved properties — 962,000 Total assets $ 1,884,000 $ 1,419,000 LIABILITIES Accounts payable $ 15,000 $ 3,000 Accrued capital expenditures — 581,000 Accrued operating and other expenses 26,000 20,000 Total liabilities $ 41,000 $ 604,000

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	12 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
ASSETS HELD FOR SALE	ASSET HELD FOR SALE Contract Segment Drilling Rigs and Equipment 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 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. In September 2022, the Company entered into a purchase and sale agreement with an independent third party for the sale of a contract drilling segment drilling rig and received a payment of $551,000, net of related costs. At September 30, 2022, the legal title for the drilling rig had not yet transferred to the buyer and therefore, the Company did not record a sale during the year ended September 30, 2022. The proceeds received from the buyer was recognized as a deposit and recorded in “Other Current Liabilities” on the Company's Consolidated Balance Sheet at September 30, 2022. No amount was recorded as assets held for sale at September 30, 2022 as the drilling rig was fully depreciated and therefore had a net book value of zero. In October 2022, the legal title for the drilling rig was transferred to the buyer and as a result, the Company will recognize a $551,000 gain on the sale of the drilling rig in the first quarter of fiscal 2023 ending December 31, 2022.

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES	12 Months Ended
	Sep. 30, 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. In April 2021, Barnwell acquired additional working interests in oil and natural gas properties located in the Twining area of Alberta, Canada for cash consideration of $348,000. The purchase price per the agreement was adjusted for customary purchase price adjustments to reflect the economic activity from the effective date to the closing date. Dispositions There were no significant oil and natural gas property dispositions during the year ended September 30, 2022. The $503,000 of proceeds from sale of oil and natural gas properties included in the Consolidated Statement of Cash Flows for the year ended September 30, 2022 primarily represents the refund of income taxes previously withheld from what otherwise would have been proceeds on prior year's oil and natural gas property sales. In April 2021, Barnwell entered into a purchase and sale agreement with an independent third party and sold its interests in properties located in the Hillsdown area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $132,000 in order to, among other things, reflect an economic effective date of October 1, 2020. $72,000 of the sales proceeds was withheld by the buyers for potential amounts due for Barnwell’s Canadian income taxes related to the sale. The proceeds were credited to the full cost pool, with no gain or loss recognized, as the sale did not result in a significant alteration of the relationship between capitalized costs and proved reserves. In July 2021, Barnwell completed a purchase and sale agreement with an independent third party and sold its interests in certain natural gas and oil properties located in the Spirit River area of Alberta, Canada. The sales price per the agreement was adjusted for customary purchase price adjustments to $1,047,000 in order to, among other things, reflect an economic effective closing date of sale of July 8, 2021. Income taxes were withheld by the buyers from Barnwell's net proceeds for potential amounts due to the Canada Revenue Agency related to the sale, and the amount was subsequently refunded to Barnwell in fiscal 2022. The difference in the relationship between capitalized costs and proved reserves of the Spirit River properties sold, as compared to the properties retained by Barnwell, was significant as there was a 93% difference in capitalized costs divided by proved reserves if the gain was recorded versus the gain being credited against the full-cost pool. Accordingly, Barnwell recorded a gain on the sale of Spirit River of $818,000 in the year ended September 30, 2021 in accordance with the guidance in Rule 4-10(c)(6)(i) of Regulation S-X of the rules and regulations of the SEC, which requires an allocation of capitalized costs to the reserves sold and reserves retained on the basis of the relative fair values of the properties as there was a substantial economic difference between the properties sold and those retained. Also included in the gain calculation were asset retirement obligations of $77,000 assumed by the purchaser. 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 year ended September 30, 2022 and a $630,000 ceiling test impairment during the year ended September 30, 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.

PROPERTY AND EQUIPMENT AND ASSE

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION	12 Months Ended
	Sep. 30, 2022
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION	PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION Barnwell’s property and equipment is detailed as follows: Estimated Gross Accumulated Net At September 30, 2022: Oil and natural gas properties: Proved properties $ 67,883,000 $ (54,651,000) $ 13,232,000 Unproved properties — — — Total oil and natural gas properties 67,883,000 (54,651,000) 13,232,000 Drilling rigs and equipment 3 – 10 years 6,304,000 (5,943,000) 361,000 Other property and equipment 3 – 10 years 619,000 (611,000) 8,000 Total $ 74,806,000 $ (61,205,000) $ 13,601,000 Estimated Gross Accumulated Net At September 30, 2021: Oil and natural gas properties: Proved properties $ 58,490,000 $ (56,067,000) $ 2,423,000 Unproved properties 962,000 — 962,000 Total oil and natural gas properties 59,452,000 (56,067,000) 3,385,000 Drilling rigs and equipment 3 – 10 years 7,273,000 (6,789,000) 484,000 Other property and equipment 3 – 10 years 687,000 (681,000) 6,000 Total $ 67,412,000 $ (63,537,000) $ 3,875,000 See Note 6 for discussion of acquisitions and divestitures of oil and natural gas properties in fiscal 2022 and 2021. In September 2021, the Company’s Honolulu corporate office was sold for approximately $1,864,000, net of related costs, resulting in a gain of $1,164,000, which was recognized in the year ended September 30, 2021. Asset Retirement Obligation Barnwell recognizes the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. The following is a reconciliation of the asset retirement obligation: Year ended September 30, 2022 2021 Asset retirement obligation as of beginning of year $ 7,053,000 $ 6,194,000 Obligations incurred on new wells drilled or acquired 1,682,000 532,000 Liabilities associated with properties sold (483,000) (375,000) Revision of estimated obligation 1,021,000 279,000 Accretion expense 767,000 580,000 Payments (942,000) (421,000) Foreign currency translation adjustment (642,000) 264,000 Asset retirement obligation as of end of year 8,456,000 7,053,000 Less current portion (1,327,000) (713,000) Asset retirement obligation, long-term $ 7,129,000 $ 6,340,000 Asset retirement obligations were reduced by $483,000 and $375,000, in fiscal 2022 and 2021, respectively, for those obligations that were assumed by purchasers of Barnwell's oil and natural gas properties. Asset retirement obligations increased by $1,021,000 and $279,000 in fiscal 2022 and 2021, respectively, primarily due to upward revisions from acceleration in the estimated timing of future abandonments as a result of changes in the estimated economic life of certain wells and changes in management's discretionary timing of abandonment projects due to an increase in estimated funds available as well as changes to the estimated cost of abandonments at the Manyberries area, as further discussed below. Asset retirement obligations also increased by $1,682,000 and $532,000 in fiscal 2022 and 2021, respectively, due primarily to our acquisitions (see Note 6 for additional details). The asset retirement obligation reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with Barnwell's oil and natural gas properties. Barnwell estimates the ultimate productive life of the properties, a credit-adjusted risk-free rate, and an inflation factor in order to determine the current present value of this obligation. The credit-adjusted risk-free rate for the entire asset retirement obligation is a blended rate which ranges from 6% to 13.5%. In September 2019, the AER issued an abandonment/closure order for all wells and facilities in the Manyberries area which had been largely operated by LGX, an operating company that went into receivership in 2016. The estimated asset retirement obligation for the Company's interest in the wells and facilities in the Manyberries area is included in “Asset retirement obligation” in the Consolidated Balance Sheets. Recently, the OWA created a WIP program for specific areas where there are a significant number of orphaned wells to abandon. The OWA has the ability and expertise to abandon wells using its internal resources and network of service providers resulting in efficiencies that companies such as Barnwell, would not be able to obtain on its own. Under the WIP program, the Company would be required to provide payment for only Barnwell’s working interest share, however, all WIP’s would have to participate in the program for the OWA to begin its work. In March 2021, the Company was notified by the OWA that Barnwell’s Manyberries wells were confirmed to be in the WIP program.

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Sep. 30, 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, with benefits based on years of service and the employee’s highest consecutive 5 years average earnings. Barnwell’s funding policy is intended to provide for both benefits attributed to service to date and for those expected to be earned in the future. In addition, Barnwell sponsors a Supplemental Executive Retirement Plan (“SERP”), a noncontributory supplemental retirement benefit plan which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan, and previously sponsored a post-retirement medical insurance benefits plan (“Post-retirement Medical”) covering officers of Barnwell Industries, Inc., the parent company, who have attained at least 20 years of service of which at least 10 years were at the position of Vice President or higher, their spouses and qualifying dependents. In 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 the resolution of the Board of the 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. As a result of the plan termination, the Company recognized a non-cash gain of $2,341,000 during the year ended September 30, 2021. The following tables detail the changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans: Pension SERP Post-retirement Medical September 30, 2022 2021 2022 2021 2022 2021 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 10,365,000 $ 10,280,000 $ 2,136,000 $ 2,031,000 $ — $ 2,839,000 Interest cost 290,000 258,000 60,000 51,000 — 48,000 Actuarial (gain) loss (2,418,000) (15,000) (478,000) 63,000 — — Benefits paid (306,000) (158,000) (3,000) (9,000) — (5,000) Termination of post-retirement medical plan — — — — — (2,882,000) Benefit obligation at end of year 7,931,000 10,365,000 1,715,000 2,136,000 — — Change in Plan Assets: Fair value of plan assets at beginning of year 12,594,000 11,051,000 — — — — Actual return on plan assets (972,000) 1,701,000 — — — — Employer contributions — — — — — 5,000 Benefits paid (306,000) (158,000) — — — (5,000) Fair value of plan assets at end of year 11,316,000 12,594,000 — — — — Funded status $ 3,385,000 $ 2,229,000 $ (1,715,000) $ (2,136,000) $ — $ — Pension SERP Post-retirement Medical September 30, 2022 2021 2022 2021 2022 2021 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 3,385,000 $ 2,229,000 $ — $ — $ — $ — Current liabilities — — (66,000) (35,000) — — Noncurrent liabilities — — (1,649,000) (2,101,000) — — Net amount $ 3,385,000 $ 2,229,000 $ (1,715,000) $ (2,136,000) $ — $ — Amounts recognized in accumulated other comprehensive income before income taxes: Net actuarial (gain) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ — Accumulated other comprehensive (income) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ — The accumulated benefit obligation for the Pension Plan was $7,931,000 and $10,365,000 at September 30, 2022 and 2021, respectively. The accumulated benefit obligation for the SERP was $1,715,000 and $2,136,000 at September 30, 2022 and 2021, respectively. The accumulated benefit obligations are the same as the projected benefit obligations due to the Pension Plan and SERP being frozen as of December 31, 2019. Currently, no contributions will be made to the Pension Plan during fiscal 2023. The SERP plan is unfunded and Barnwell funds benefits when payments are made. Expected payments under the SERP for fiscal 2023 is not material. Fluctuations in actual market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods. The Pension Plan actuarial gains in fiscal 2022 were primarily due to an increase in the discount rate, partially offset by an actuarial loss resulting from actual investment returns that were less than the assumed rate of return. The SERP actuarial gains in fiscal 2022 were primarily due to an increase in the discount rate. The Pension Plan actuarial gains in fiscal 2021 were primarily due to an increase in the discount rate and actual investment returns that were greater than the assumed rate of return. The SERP actuarial losses in fiscal 2021 were primarily due to an updated mortality projection scale and adjustments due to experience, partially offset by an increase in the discount rate. The following table presents the weighted-average assumptions used to determine benefit obligations and net benefit (income) costs: Pension SERP Post-retirement Medical Year ended September 30, 2022 2021 2022 2021 2022 2021 Assumptions used to determine fiscal year-end benefit obligations: Discount rate 5.25% 2.84% 5.25% 2.84% N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A Assumptions used to determine net benefit costs (years ended): Discount rate 2.84% 2.54% 2.84% 2.54% N/A 2.54% / 3.00% (1) Expected return on plan assets 5.00% 5.00% N/A N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A _______________________________________________ (1) 2.54% as of September 30, 2020 and 3.00% as of May 31, 2021 termination. We select a discount rate by reference to yields available on the ICE Bank of America Merrill Lynch AA-AAA 15+ Index at our consolidated balance sheet date. The expected return on plan assets is based on an actuarial model which takes into consideration our investment mix and market conditions. The components of net periodic benefit (income) cost are as follows: Pension SERP Post-retirement Medical Year ended September 30, 2022 2021 2022 2021 2022 2021 Net periodic benefit (income) cost for the year: Interest cost $ 290,000 $ 258,000 $ 60,000 $ 51,000 $ — $ 48,000 Expected return on plan assets (622,000) (546,000) — — — — Amortization of net actuarial loss — 39,000 — — — 62,000 Net periodic benefit (income) cost $ (332,000) $ (249,000) $ 60,000 $ 51,000 $ — $ 110,000 The benefits expected to be paid under the retirement plans as of September 30, 2022 are as follows: Pension SERP Expected Benefit Payments: Fiscal year ending September 30, 2023 $ 412,000 $ 66,000 Fiscal year ending September 30, 2024 $ 552,000 $ 130,000 Fiscal year ending September 30, 2025 $ 545,000 $ 129,000 Fiscal year ending September 30, 2026 $ 537,000 $ 128,000 Fiscal year ending September 30, 2027 $ 529,000 $ 127,000 Fiscal years ending September 30, 2028 through 2032 $ 2,969,000 $ 667,000 Plan Assets Management communicates periodically with its professional investment advisors to establish investment policies, direct investments and select investment options. The overall investment objective of the Pension Plan is to attain a diversified combination of investments that provides long-term growth in the assets of the plan to fund future benefit obligations while managing risk in order to meet current benefit obligations. Generally, interest and dividends received provide cash flows to fund current benefit obligations. Longer-term obligations are generally estimated to be provided for by growth in equity securities. The Company’s investment policy permits investments in a diversified mix of U.S. and international equities, fixed income securities and cash equivalents. Barnwell’s investments in fixed income securities include corporate bonds, U.S. treasury and government securities, preferred securities, and fixed income exchange-traded funds. The Company’s investments in equity securities primarily include domestic and international large-cap companies, as well as, domestic and international equity securities exchange-traded funds. The Company’s year-end target allocation, by asset category, and the actual asset allocations were as follows: Target September 30, Asset Category Allocation 2022 2021 Cash and other 0% - 25% 14% —% Fixed income securities 15% - 40% 34% 31% Equity securities 45% - 75% 52% 69% Actual investment allocations may vary from our target allocations from time to time due to prevailing market conditions. We periodically review our actual investment allocations and rebalance our investments to our target allocations as dictated by current and anticipated market conditions and required cash flows. We categorize plan assets into three levels based upon the assumptions used to price the assets. Level 1 provides the most reliable measure of fair value, whereas Level 3 requires significant management judgment in determining the fair value. Equity securities and exchange-traded funds are valued by obtaining quoted prices on recognized and highly liquid exchanges. Fixed income securities are valued based upon the closing price reported in the active market in which the security is traded. All of our plan assets are categorized as Level 1 assets, and as such, the actual market value is used to determine the fair value of assets. The following tables set forth by level, within the fair value hierarchy, pension plan assets at their fair value: Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 1,539,000 $ 1,539,000 $ — $ — Corporate bonds 1,000 1,000 — — U.S. treasury and government securities 561,000 561,000 — — Fixed income exchange-traded funds 3,223,000 3,223,000 — — Preferred securities 67,000 67,000 — — Equity securities exchange-traded funds 408,000 408,000 — — Equities 5,517,000 5,517,000 — — Total $ 11,316,000 $ 11,316,000 $ — $ — Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 25,000 $ 25,000 $ — $ — Corporate bonds 1,000 1,000 — — Fixed income exchange-traded funds 3,809,000 3,809,000 — — Preferred securities 48,000 48,000 — — Equity securities exchange-traded funds 459,000 459,000 — — Equities 8,252,000 8,252,000 — — Total $ 12,594,000 $ 12,594,000 $ — $ —

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of earnings before income taxes, after adjusting the earnings for non-controlling interests, are as follows: Year ended September 30, 2022 2021 United States $ 739,000 $ 5,436,000 Canada 5,121,000 1,149,000 $ 5,860,000 $ 6,585,000 The components of the income tax provision related to the above earnings are as follows: Year ended September 30, 2022 2021 Current provision: United States – Federal Before operating loss carryforwards $ 727,000 $ 60,000 Benefit of operating loss carryforwards (665,000) (60,000) After operating loss carryforwards 62,000 — United States – State Before operating loss carryforwards 518,000 174,000 Benefit of operating loss carryforwards (62,000) (7,000) After operating loss carryforwards 456,000 167,000 Canadian Before operating loss carryforwards 510,000 — Benefit of operating loss carryforwards (510,000) — After operating loss carryforwards — — Total current 518,000 167,000 Deferred (benefit) provision: United States – State (171,000) 165,000 Canadian — — Total deferred (171,000) 165,000 $ 347,000 $ 332,000 Consolidated taxes do not bear a customary relationship to pretax results due primarily to the fact that the Company is taxed separately in Canada based on Canadian source operations and in the U.S. based on consolidated operations, and essentially all deferred tax assets, net of relevant offsetting deferred tax liabilities, are not estimated to have a future benefit as tax credits or deductions. Income from our non-controlling interest in the Kukio Resort Land Development Partnerships is treated as non-unitary for state of Hawaii unitary filing purposes, thus unitary Hawaii losses provide limited sheltering of such non-unitary income. Income from our investment in the Oklahoma oil venture is 100% allocable to Oklahoma, and therefore, receives no benefit from consolidated or unitary losses and, therefore, is subject to Oklahoma state taxes. In addition, net operating loss carryforwards, all of which had a full valuation allowance at the end of the previous fiscal year, are being partially utilized in the current year to offset taxable income in the U.S. federal and Canadian jurisdictions. The net operating loss carryforwards beyond the current year’s utilization continue to have a full valuation allowance as realization of their benefit is not more likely than not. Included in the current income tax provision for the year ended September 30, 2022 is a $62,000 expense for income tax penalties and interest thereon for the non-filing of IRS Form 8858 in each of our U.S. federal income tax returns for fiscal years 2019, 2020 and 2021. The Company is in the process of amending its U.S. federal tax returns to include Form 8858 and plans to request abatement of the potential penalties and interest. There was no such expense included in the current income tax provision for the year ended September 30, 2021. On December 27, 2020, the President signed into law the Consolidated Appropriations Act (the “Act”), an omnibus spending bill to fund the federal government that also includes an array of COVID-related tax relief for individuals and businesses. The tax-related measures contained in the Act revise and expand provisions enacted earlier in the year by the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. The Act also extends a number of expiring tax provisions. Additionally, the Act provides for a 100% deduction for certain business meals incurred in calendar years 2021 and 2022. The Company determined that income tax effects related to the passage of the Consolidated Appropriations Act were not material to the financial statements for the years ended September 30, 2021 and 2022. A reconciliation between the reported income tax expense and the amount computed by multiplying the earnings attributable to Barnwell before income taxes by the U.S. federal tax rate of 21% is as follows: Year ended September 30, 2022 2021 Tax provision computed by applying statutory rate $ 1,231,000 $ 1,383,000 Decrease in the valuation allowance (1,450,000) (1,427,000) Additional effect of the foreign tax provision on the total tax provision 130,000 31,000 Uncertain tax positions 62,000 — U.S. state tax provision, net of federal benefit 285,000 332,000 Other 89,000 13,000 $ 347,000 $ 332,000 The changes in the valuation allowance shown in the table above exclude the impact of changes in state taxes and foreign tax credit expiries, the valuation allowance impacts of which are incorporated within the respective reconciliation line items elsewhere in the table. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: September 30, 2022 2021 Deferred income tax assets: Foreign tax credit carryover under U.S. tax law $ 953,000 $ 1,197,000 U.S. federal net operating loss carryover 8,258,000 8,846,000 U.S. state unitary net operating loss carryovers 1,117,000 939,000 Canadian net operating loss carryovers 877,000 1,411,000 Tax basis of investment in land in excess of book basis under U.S. tax law 26,000 305,000 Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law — 1,091,000 Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law 568,000 699,000 Liabilities accrued for books but not for tax under U.S. tax law 882,000 1,225,000 Liabilities accrued for books but not for tax under Canadian tax law 2,120,000 1,813,000 Foreign currency loss under U.S. tax law 102,000 — Foreign currency loss under Canadian tax law 124,000 — Other 278,000 442,000 Total gross deferred income tax assets 15,305,000 17,968,000 Less valuation allowance (12,608,000) (14,616,000) Net deferred income tax assets 2,697,000 3,352,000 Deferred income tax liabilities: Property and equipment accumulated tax depreciation and depletion in excess of book under Canadian tax law (280,000) — Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law (545,000) (1,156,000) Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law (166,000) (352,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law (121,000) (142,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law (23,000) (7,000) U.S. tax law impact of foreign branch deferred tax asset under Canadian tax law (1,465,000) (1,782,000) Other (285,000) (272,000) Total deferred income tax liabilities (2,885,000) (3,711,000) Net deferred income tax liability $ (188,000) $ (359,000) Reported as: Deferred income tax assets — — Deferred income tax liabilities (188,000) (359,000) Net deferred income tax liability $ (188,000) $ (359,000) The total valuation allowance decreased $2,008,000 for the year ended September 30, 2022. The decrease was due to current fiscal year operational activity that resulted in changes in deferred tax asset and liability balances, and there were no changes in judgment about the realizability of related deferred tax assets in future years. Of the total net decrease in the valuation allowance for fiscal 2022, $1,614,000 was recognized as an income tax benefit and $394,000 was credited to accumulated other comprehensive loss. Net deferred tax assets at September 30, 2022 of $2,697,000 consists of the portion of U.S. federal consolidated deferred tax assets that are estimated to be partially realized through corresponding reversals of U.S. federal consolidated deferred tax liabilities related to the Kukio Resort Land Development Partnerships' excess of book income over taxable income, the book basis of property and equipment in excess of tax basis under U.S federal and Canadian tax law, foreign branch deferred taxes and certain other minor deferred tax liabilities. At September 30, 2022, Barnwell had U.S. federal foreign tax credit carryovers, U.S. federal net operating loss carryovers, U.S. state net operating loss carryovers and Canadian net operating loss carryovers totaling $953,000, $39,327,000, $17,452,000 and $3,411,000, respectively. All four items were fully offset by valuation allowances at September 30, 2022, except for a portion of Hawaii NOLs which is expected to shelter a portion of the reversal of the Company’s Hawaii non-unitary taxable temporary difference related to its investment in Hawaii land development partnerships. The U.S. federal net operating loss carryovers generated through September 30, 2018 expire in fiscal years 2032-2038, the U.S. state unitary net operating loss carryovers generated through September 30, 2017 expire in fiscal years 2033-2037, the Canadian net operating loss carryovers expire in fiscal years 2037-2042, and the foreign tax credit carryovers expire in fiscal years 2023-2025. The U.S. federal net operating loss carryovers generated in fiscal years 2019-2021 and the U.S. state net operating loss carryovers generated in fiscal years 2018-2022 have no expiry, however utilization of the U.S. state and U.S. federal net operating loss carryovers generated in these and future years are limited to 80% of taxable income. FASB ASC Topic 740, Income Taxes, prescribes a threshold for recognizing the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by a taxing authority. Barnwell files U.S. federal income tax returns, income tax returns in various U.S. states, and Canadian federal and provincial tax returns. A number of years may elapse before an uncertain tax position, for which we have unrecognized tax benefits, is audited and finally resolved. We believe that our unrecognized tax benefits are reflected on a more likely than not basis. We evaluate uncertain tax positions based on ongoing facts and circumstances. Any change in judgment related to the expected resolution of uncertain tax positions is recognized in earnings in the period in which such change occurs. Interest and penalties, if any, related to unrecognized tax benefits are recorded as a component of income tax expense. Settlement of any particular position could require the use of cash. Favorable resolution for an amount less than the amount estimated by Barnwell would be recognized as a decrease in the effective income tax rate in the period of resolution, and unfavorable resolution in excess of the amount estimated by Barnwell would be recognized as an increase in the effective income tax rate in the period of resolution. Below are the changes in unrecognized tax benefits. Year ended September 30, 2022 2021 Balance at beginning of year $ — $ — Effect of tax positions taken in prior years 60,000 — Accrued interest related to tax positions taken 2,000 — Balance at end of year $ 62,000 $ — Uncertain tax positions at September 30, 2022 are related to the potential assessment of penalties and interest for the failure to file certain foreign information forms with each of our U.S. federal income tax returns for fiscal years 2019, 2020 and 2021. The Company is in the process of amending its U.S. federal tax returns to include missing forms and plans to request abatement of the potential penalties and interest. Included below is a summary of the tax years, by jurisdiction, that remain subject to examination by taxing authorities at September 30, 2022: Jurisdiction Fiscal Years Open U.S. federal 2019 – 2021 Various U.S. states 2019 – 2021 Canada federal 2015 – 2021 Various Canadian provinces 2015 – 2021

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Sep. 30, 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 years ended September 30, 2022 and 2021. Year ended September 30, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 15,747,000 $ — $ — $ — $ 15,747,000 Natural gas 4,527,000 — — — 4,527,000 Natural gas liquids 2,307,000 — — — 2,307,000 Drilling and pump — 4,540,000 — — 4,540,000 Contingent residual payments — — 1,295,000 — 1,295,000 Other — — — 111,000 111,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Geographical regions: United States $ 3,496,000 $ 4,540,000 $ 1,295,000 $ 9,000 $ 9,340,000 Canada 19,085,000 — — 102,000 19,187,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Timing of revenue recognition: Goods transferred at a point in time $ 22,581,000 $ — $ 1,295,000 $ 111,000 $ 23,987,000 Services transferred over time — 4,540,000 — — 4,540,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Year ended September 30, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 7,617,000 $ — $ — $ — $ 7,617,000 Natural gas 1,871,000 — — — 1,871,000 Natural gas liquids 766,000 — — — 766,000 Drilling and pump — 5,809,000 — — 5,809,000 Contingent residual payments — — 1,738,000 — 1,738,000 Other — — — 304,000 304,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Geographical regions: United States $ 118,000 $ 5,809,000 $ 1,738,000 $ 35,000 $ 7,700,000 Canada 10,136,000 — — 269,000 10,405,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Timing of revenue recognition: Goods transferred at a point in time $ 10,254,000 $ — $ 1,738,000 $ 304,000 $ 12,296,000 Services transferred over time — 5,809,000 — — 5,809,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Contract Balances The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers: September 30, 2022 2021 Accounts receivables from contracts with customers $ 4,038,000 $ 2,797,000 Contract assets 580,000 581,000 Contract liabilities 1,087,000 455,000 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 Consolidated Balance Sheets. Retainage, included in contract assets, represents amounts due from customers, but where payments are withheld contractually until certain construction milestones are met. Amounts retained typically range from 5% to 10% of the total invoice, up to contractually-specified maximums. The Company classifies as a current asset those retainages that are expected to be collected in the next twelve months. Contract assets represent the Company’s rights to consideration in exchange for services transferred to a customer that have not been billed as of the reporting date. The Company’s rights are generally unconditional at the time its performance obligations are satisfied. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. As of September 30, 2022 and 2021, the Company had $1,087,000 and $455,000, respectively, included in “Other current liabilities” on the Consolidated Balance Sheets for those performance obligations expected to be completed in the next twelve months. During the years ended September 30, 2022 and 2021, the amount of revenue recognized that was previously included in contract liabilities as of the beginning of the respective period was $394,000 and $1,013,000, respectively. Contracts are sometimes modified for a change in scope or other requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the Company’s contract modifications are for goods and services that are not distinct from the existing performance obligations. The effect of a contract modification on the transaction price, and the measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase or decrease) on a cumulative catchup basis. Performance Obligations The Company’s remaining performance obligations for drilling and pump installation contracts (hereafter referred to as “backlog”) represent the unrecognized revenue value of the Company’s contract commitments. The Company’s backlog may vary significantly each reporting period based on the timing of major new contract commitments. In addition, our customers have the right, under some infrequent circumstances, to terminate contracts or defer the timing of the Company’s services and their payments to us. Nearly all of the Company's contract drilling segment contracts have original expected durations of one year or less. At September 30, 2022, the Company had five contract drilling jobs with original expected durations of greater than one year. For these contracts, approximately 71% of the remaining performance obligation of $4,890,000 is expected to be recognized in the next twelve months and the remaining, thereafter. Contract Fulfillment Costs Preconstruction costs, which include costs such as set-up and mobilization, are capitalized and allocated across all performance obligations and deferred and amortized over the contract term on a progress towards completion basis. As of September 30, 2022 and 2021, the Company had $689,000 and $326,000, respectively, in unamortized preconstruction costs related to contracts that were not completed. During the years ended September 30, 2022 and 2021, the amortization of preconstruction costs related to contracts was $296,000 and $224,000, respectively. These amounts have been included in “Contract drilling operating” costs and expenses in the accompanying Consolidated Statements of Operations. Additionally, no impairment charges in connection with the Company’s preconstruction costs were recorded during the years ended September 30, 2022 and 2021. Uninstalled Materials Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets. A summary of Barnwell's uninstalled materials is as follows: September 30, 2022 September 30, 2021 Uninstalled materials $ 351,000 $ 226,000

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHIC INFORMATION Barnwell operates the following segments: 1) acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma (oil and natural gas); 2) investing in land interests in Hawaii (land investment); and 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling). The following table presents certain financial information related to Barnwell’s reporting segments. All revenues reported are from external customers with no intersegment sales or transfers. Year ended September 30, 2022 2021 Revenues: Oil and natural gas $ 22,581,000 $ 10,254,000 Contract drilling 4,540,000 5,809,000 Land investment 1,295,000 1,738,000 Other 111,000 304,000 Total before interest income 28,527,000 18,105,000 Interest income 18,000 8,000 Total revenues $ 28,545,000 $ 18,113,000 Depletion, depreciation, and amortization: Oil and natural gas $ 2,606,000 $ 645,000 Contract drilling 171,000 305,000 Other 1,000 13,000 Total depletion, depreciation, and amortization $ 2,778,000 $ 963,000 Impairment: Oil and natural gas $ — $ 630,000 Contract drilling — 38,000 Land investment 89,000 — Total impairment $ 89,000 $ 668,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 10,536,000 $ 2,423,000 Contract drilling (222,000) (89,000) Land investment 1,206,000 1,738,000 Other 110,000 291,000 Gain on sale of assets — 1,982,000 Total operating profit 11,630,000 6,345,000 Equity in income of affiliates: Land investment 3,400,000 5,793,000 General and administrative expenses (8,044,000) (7,088,000) Foreign currency loss (484,000) — Interest expense (1,000) (13,000) Interest income 18,000 8,000 Gain on debt extinguishment — 149,000 Gain on termination of post-retirement medical plan — 2,341,000 Earnings before income taxes $ 6,519,000 $ 7,535,000 Capital Expenditures: Year ended September 30, 2022 2021 Oil and natural gas $ 13,755,000 $ 3,028,000 Contract drilling 45,000 62,000 Other 5,000 1,000 Total $ 13,805,000 $ 3,091,000 Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 7 for additional details). Assets By Segment: September 30, 2022 2021 Oil and natural gas (1) $ 17,477,000 $ 6,401,000 Contract drilling (2) 3,260,000 4,071,000 Other: Cash and cash equivalents 12,804,000 11,279,000 Corporate and other 3,674,000 2,684,000 Total $ 37,215,000 $ 24,435,000 ______________ (1) L ocated primarily in the province of Alberta, Canada with a minor portion in Oklahoma. (2) Located in Hawaii. Long-Lived Assets By Geographic Area: September 30, 2022 2021 United States $ 4,540,000 $ 4,180,000 Canada 12,578,000 2,220,000 Total $ 17,118,000 $ 6,400,000 Revenue By Geographic Area: Year ended September 30, 2022 2021 United States $ 9,340,000 $ 7,700,000 Canada 19,187,000 10,405,000 Total (excluding interest income) $ 28,527,000 $ 18,105,000

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	12 Months Ended
	Sep. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME Components of accumulated other comprehensive income, net of taxes, are as follows: Year ended September 30, 2022 2021 Foreign currency translation: Beginning accumulated foreign currency translation $ 262,000 $ 545,000 Change in cumulative translation adjustment before reclassifications (40,000) (283,000) Income taxes — — Net current period other comprehensive loss (40,000) (283,000) Ending accumulated foreign currency translation 222,000 262,000 Retirement plans: Beginning accumulated retirement plans benefit cost (230,000) (1,980,000) Amortization of net actuarial loss — 101,000 Net actuarial gain arising during the period 1,302,000 1,108,000 Gain on termination of post-retirement medical plan — 541,000 Income taxes — — Net current period other comprehensive income 1,302,000 1,750,000 Ending accumulated retirement plans benefit income (cost) 1,072,000 (230,000) Accumulated other comprehensive income, net of taxes $ 1,294,000 $ 32,000 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 Consolidated Statements of Operations (see Note 8 for additional details).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts and other receivables, accounts payable and accrued current liabilities approximate their fair values due to the short-term nature of the instruments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The estimated fair values of oil and natural gas properties and the asset retirement obligation incurred in the drilling of oil and natural gas wells or assumed in the acquisitions of additional oil and natural gas working interests are based on an estimated discounted cash flow model and market assumptions. The significant Level 3 assumptions used in the calculation of estimated discounted cash flows included future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount of future development, operating and asset retirement costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates. See Note 6 for additional information regarding oil and natural gas property acquisitions. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires assumptions and judgments regarding the existence of liabilities, the amount and timing of cash outflows

DEBT

DEBT	12 Months Ended
	Sep. 30, 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 ($44,000) 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 66.7% 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. Paycheck Protection Program Loan In April 2020, the Company, as obligor, entered into a promissory note evidencing an unsecured loan in the approximate amount of $147,000 under the PPP pursuant to the CARES Act that was signed into law in March 2020. The note was to mature two years after the date of the loan disbursement with interest at a fixed annual rate of 1.00%, and with the principal and interest payments deferred until ten months after the last day of the covered period. In April 2021, the Company was notified by the lender of our PPP loan that the entire PPP loan amount and related accrued interest was forgiven by the Small Business Administration. As a result of the loan forgiveness, the Company recognized a gain on debt extinguishment of $149,000 during the year ended September 30, 2021.

LEASES

LEASES	12 Months Ended
	Sep. 30, 2022
Leases [Abstract]
LEASES	LEASES The Company’s right-of-use (“ROU”) assets and lease liabilities at September 30, 2022, primarily relate to non-cancelable operating leases for our Hawaii corporate and Canadian office spaces and our leasehold land interest for Lot 4C held by Kaupulehu Developments. Management determines if a contract is or contains a lease at inception of the contract or modification of the contract. A contract is or contains a lease if the contract conveys the right to control the use of the asset for a period in exchange for consideration. Operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. The Company’s leases do not provide a readily determinable implicit rate; therefore, management uses the Company’s incremental borrowing rate to discount lease payments based on information available at lease commencement. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease terms. The Company has lease agreements with lease and non-lease components and the non-lease components are excluded in the calculation of the ROU asset and lease liability and expensed as incurred. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. A ROU asset and corresponding lease liability is not recorded for leases with an initial term of 12 months or less (short-term leases) as the Company recognizes lease expense for these leases as incurred over the lease term. In September 2022, the Company determined that the right-of-use asset related to the operating lease for the Lot 4C leasehold land zoned conservation held by Kaupulehu Developments was fully impaired as of September 30, 2022. As a result, the Company recognized an $89,000 right-of-use asset impairment expense during the year ended September 30, 2022. Leases recorded on the balance sheet consist of the following: September 30, 2022 2021 Assets: Operating lease right-of-use assets $ 132,000 $ 296,000 Total right-of-use assets $ 132,000 $ 296,000 Liabilities: Current portion of operating lease liabilities (1) $ 105,000 $ 117,000 Operating lease liabilities 117,000 180,000 Total lease liabilities $ 222,000 $ 297,000 ______________ (1) Amount included in “Other Current Liabilities” in the Consolidated Balance Sheets . The components of lease expense are as follows: Year ended September 30, 2022 2021 Operating lease cost $ 108,000 $ 130,000 Short-term lease cost 327,000 254,000 Variable lease cost 154,000 103,000 Total lease cost $ 589,000 $ 487,000 Supplemental information related to leases is as follows: September 30, 2022 2021 Cash paid related to operating lease liabilities $ 108,000 $ 133,000 Operating leases: Weighted-average remaining lease term (in years) 2.4 2.9 Weighted-average discount rate 5.30% 5.19% The remaining lease payments for our operating leases as of September 30, 2022, are as follows: Fiscal year ending: 2023 $ 113,000 2024 75,000 2025 41,000 2026 8,000 2027 — Thereafter through 2028 — Total lease payments 237,000 Less: amounts representing interest (15,000) Present value of lease liabilities $ 222,000 The lease payments for the Lot 4C leasehold land zoned conservation were subject to renegotiation as of January 1, 2006. Per the lease agreement, the lease payments will remain unchanged pending an appraisal, whereupon the lease rent could be adjusted to fair market value. Barnwell does not know the amount of the new lease payments which could be effective upon performance of the appraisal; they may remain unchanged or increase, and Barnwell currently expects the adjustment, if any, to not be material. The future lease payment disclosures above assume the minimum lease payments for leasehold land in effect at December 31, 2005 remain unchanged through December 2025, the end of the lease term.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY 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 amendments to the Company’s 2018 Equity Incentive Plan which included the amendment to increase the total number of shares of stock authorized for awards from 800,000 to 1,600,000 shares among other amendments. Share-based Compensation 2018 Equity Incentive Plan The Company’s stock option plans are administered by the Compensation Committee of the Board of Directors. The stockholder-approved 2018 Equity Incentive Plan provides for the issuance of incentive stock options, nonstatutory stock options, stock options with stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants to employees, consultants and non-employee members of the Board of Directors. 1,600,000 shares of Barnwell common stock have been reserved for issuance and as of September 30, 2022, a total of 935,000 share options remain available for grant. Barnwell currently has a policy of issuing new shares to satisfy share option exercises when the optionee requests shares. Equity-classified Awards In February 2021, the Board of Directors of the Company granted options to purchase 665,000 shares of common stock, 310,000 shares to independent directors and 355,000 shares to employees. 605,000 shares of the stock options granted have an exercise price equal to the closing market price of Barnwell’s stock on the date of grant of $3.33, vest annually over three years, and expire in ten years from the date of grant. 60,000 shares of the stock options granted have an exercise price of $3.66 (110% of the closing market price on the date of grant for options granted to affiliates), vest annually over three years, and expire in five years from the date of grant. The following assumptions were used in estimating the fair value for equity-classified share options granted in the year ended September 30, 2021: > 10% Owner-Employee Others Number of shares 60,000 605,000 Expected volatility 127.4% 105.8% Expected dividends None None Expected term (in years) 3.5 6.0 Risk-free interest rate 0.19% 0.82% Expected forfeitures None None Fair value per share $2.51 $2.70 The application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation, and consequently, the related costs reported in the “General and administrative” expenses in the Consolidated Statements of Operations. A summary of the activity in Barnwell’s equity-classified share options from October 1, 2021 through September 30, 2022 is presented below: Options Shares Weighted- Weighted- Aggregate Outstanding at October 1, 2021 615,000 $ 3.36 Granted — — Exercised — — Expired/Forfeited — — Outstanding at September 30, 2022 615,000 $ 3.36 7.9 $ — Exercisable at September 30, 2022 205,000 $ 3.36 7.9 $ — Compensation cost for equity-classified awards is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period. During the years ended September 30, 2022 and 2021, the Company recognized share-based compensation expense of $657,000 and $643,000, respectively. There was no impact on income taxes for the years ended September 30, 2022 and 2021 due to a full valuation allowance on the related deferred tax asset. As of September 30, 2022, the total remaining unrecognized compensation cost related to nonvested share options was $348,000, which is expected to be recognized over the weighted-average remaining requisite service period of 1.4 years. Cash Dividend In August 2022, the Company's Board of Directors declared a cash dividend of $0.015 per share that was paid on September 6, 2022 to stockholders of record on August 23, 2022. No dividends were declared or paid during fiscal 2021. 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 year ended September 30, 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. During the year ended September 30, 2021, the Company sold 1,167,987 shares of common stock resulting in net proceeds of $3,179,000 after commissions and fees of $123,000 and ATM-related professional services of $605,000.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Incentive compensation plan Barnwell established an incentive compensation plan to compensate all Canadian oil and natural gas segment personnel and an incentive compensation plan to compensate Canadian executive officers. The value of the plans are directly related to our oil and natural gas segment's free cash flows from Canadian properties and the divestiture of Canadian oil and natural gas assets. As of September 30, 2022, Barnwell has accrued approximately $381,000 in bonus compensation under these plans and the amount is reported in “Accrued compensation” on the Consolidated Balance Sheet at September 30, 2022. Subscription Receipts Agreement In May 2022, Barnwell Investments LLC, a new wholly-owned subsidiary of Barnwell Industries Inc., entered into an agreement to participate in a private placement offering (the “Offering”) of subscriptions receipts (the “Subscription Agreement”) with 1287398 B.C. Ltd. (the “Issuer”) and agreed to purchase 1,724,138 subscription receipts at a price of $1.16 per subscription receipt for a total of $2,000,000 from the Issuer. 1287398 B.C. Ltd. is a Canadian reporting issuer. The Offering is subject to regulatory approvals, including the conditional listing approval by the TSX Venture Exchange. The Subscription Agreement was held in escrow by the Issuer until certain escrow release conditions were met which included the Issuer raising an additional $3,000,000 in gross proceeds from other parties under the private placement offering for total minimum gross proceeds of $5,000,000. As of September 30, 2022, the escrow release condition had not been satisfied and no cash was paid by the Company to the Issuer. In November 2022, the Subscription Agreement was terminated by the Company and therefore the Company no longer has a commitment with the Issuer. Environmental Matters Because of the inherent uncertainties associated with environmental assessment and remediation activities, future expenses to remediate sites identified in the future, if any, could be incurred. Barnwell's management is not currently aware of any significant environmental contingent liabilities requiring disclosure or accrual. Legal and Regulatory Matters Barnwell is routinely involved in disputes with third parties that occasionally require litigation. In addition, Barnwell is required to maintain compliance with all current governmental controls and regulations in the ordinary course of business. Barnwell’s management is not aware of any claims or litigation involving Barnwell that are likely to have a material adverse effect on its results of operations, financial position or liquidity. In the 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 an arrangement where Barnwell will provide for centralizers, armored cabling and a pump installation and removal test to confirm that plumbness is satisfactory. 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, armored cabling and the pump installation and removal test have been accrued, no accrual has been recorded as of September 30, 2022 for any further costs related to this contract as there is no related probable or estimable contingent liability. Other Matters Barnwell is obligated to pay Nearco Enterprises Ltd. 10.4%, net of non-controlling interests' share, of Kaupulehu Developments’ gross receipts from real estate transactions. The fees represent compensation for promotion and marketing of Kaupulehu Developments’ property and were determined based on the estimated fair value of such services. These fees are included in general and administrative expenses. Barnwell is obligated to pay its external real estate legal counsel 1.2%, net of non-controlling interests' share, of all Increment II payments received by Kaupulehu Developments for services provided

INFORMATION RELATING TO THE CON

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS	INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS The following table details the effect of changes in current assets and liabilities on the Consolidated Statements of Cash Flows, and presents supplemental cash flow information: Year ended September 30, 2022 2021 Increase (decrease) from changes in: Receivables $ (1,763,000) $ (814,000) Income tax receivable 15,000 457,000 Other current assets (531,000) (920,000) Accounts payable 110,000 (746,000) Accrued compensation (48,000) 668,000 Other current liabilities 1,190,000 (796,000) Decrease from changes in current assets and liabilities $ (1,027,000) $ (2,151,000) Supplemental disclosure of cash flow information: Cash paid (received) during the year for: Income taxes refunded, net $ (98,000) $ (303,000) Supplemental disclosure of non-cash investing activities: Canadian income tax withheld on proceeds from the sale of oil and natural gas properties $ — $ 598,000

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSKaupulehu 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 3. During the year ended September 30, 2022, Barnwell received $1,295,000 in percentage of sales payments from KD I from the sale of six lots within Increment I. During the year ended September 30, 2021, Barnwell received $1,738,000 in percentage of sales payments from KD I from the sale of eight lots within Increment I. Mr. Colin R. O'Farrell, formerly a member of the Board of Directors of the Company through March 7, 2022, is the sole member of Four Pines Operating LLC which owns a 25% interest in Gros Ventre. In February 2021, Gros Ventre and BOK, a wholly-owned subsidiary of Barnwell, entered into the Teton Operating Agreement of Teton Barnwell, an entity formed for the purpose of directly investing in oil and natural gas exploration and development in Oklahoma. Under the terms of the Teton Operating Agreement, Gros Ventre makes no capital contributions and receives 2% of the profits of Teton Barnwell. Additionally, as the manager of Teton Barnwell, Gros Ventre is paid an annual asset management fee equal to 1% of the cumulative capital contributions made to Teton Barnwell as compensation for its management services.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Gain on Sale of Drilling Rig In September 2022, the Company entered into a purchase and sale agreement with an independent third party for the sale of a contract drilling segment drilling rig and received a payment of $551,000, net of related costs. At September 30, 2022, the legal title for the drilling rig had not yet transferred to the buyer and therefore, the Company did not record a sale during the year ended September 30, 2022. The proceeds received from the buyer was recognized as a deposit and recorded in “Other Current Liabilities” on the Company's Consolidated Balance Sheet at September 30, 2022. No amount was recorded as assets held for sale at September 30, 2022 as the drilling rig was fully depreciated and therefore had a net book value of zero. In October 2022, the legal title for the drilling rig was transferred to the buyer and as a result, the Company will recognize a $551,000 gain on the sale of the drilling rig in the first quarter of fiscal 2023 ending December 31, 2022. The Tax Benefits Preservation Plan On October 17, 2022, the Board of Directors of the Company adopted a Tax Benefits Preservation Plan (the “Tax Plan”) designed to protect the availability of the Company’s existing net operating loss carryforwards and certain other tax attributes (collectively, the “Tax Benefits”). The Company has generated substantial Tax Benefits, which could potentially be used in certain circumstances to reduce its future income tax obligations. Utilization of these NOLs and other Tax Benefits depends on many factors, including the Company’s future taxable income. Additionally, the Company’s ability to use its Tax Benefits would be substantially limited if it were to experience an “ownership change,” as defined under Section 382 of the Internal Revenue Code of 1986, as amended (“Section 382”). In general, a corporation would experience an ownership change if the percentage of the corporation’s stock owned by one or more “5% stockholders,” as defined under Section 382, were to increase by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period (or, if a shorter period, since the Company’s last ownership change). The purpose of the Tax Plan is to reduce the likelihood that the Company will experience an ownership change under Section 382, which would limit the Company’s future use of its Tax Benefits and, in turn, significantly impair the value of such Tax Benefits. Absent the adoption of the Tax Plan, the Company would be at a greater risk of experiencing an ownership change under Section 382 in the future as a result of certain changes in its investor base and subsequent shifts in its stock ownership that cannot be predicted or controlled. If the Company were to undergo an ownership change, limitations would be placed on the Company’s ability to utilize the Tax Benefits in future years in which it has taxable income, and the Company would pay more taxes than if it were able to utilize the Tax Benefits fully. This could result in a negative impact on the Company’s financial position, results of operations, and cash flows. The Tax Plan is designed to preserve the Tax Benefits by reducing the risk of an ownership change under Section 382. The Tax Plan adopted by the Board of Directors is similar to plans adopted by other publicly held companies with substantial Tax Benefits and has a limited duration of three years. The Tax Plan is not designed to prevent any action that the Board of Directors determines to be in the best interest of the Company and its stockholders. To implement the Tax Plan, the Board of Directors declared a dividend of one right (a “Right”) for each outstanding share of the Company's common stock. The Rights will be issued to stockholders of record at the close of business on October 27, 2022 pursuant to the Tax Plan. The Rights will be exercisable if a person or group of persons acquires 4.95% or more of the Company’s common stock. The Rights will also be exercisable if a person or group of persons that already owns 4.95% or more of the Company’s common stock acquires an additional share other than as a result of a dividend or a stock split. Existing stockholders that beneficially own in excess of 4.95% of the Company’s common stock will be “grandfathered in” at their current ownership level. If the Rights become exercisable, all holders of Rights, other than the person or group of persons triggering the Rights, will be entitled to purchase shares of the Company’s common stock at a 50% discount. Rights held by the person or group of persons triggering the Rights will become void and will not be exercisable. The Tax Plan also includes an exchange option. At any time after any person or group of persons acquires 4.95% or more of the Company’s common stock, but less than 50% or more of the outstanding shares of the Company’s common stock, the Board of Directors, at its option, may exchange the Rights (other than Rights owned by such person or group of persons which will have become void), in whole or in part, at an exchange ratio of three shares of the Company’s common stock per outstanding Right (subject to adjustment). The Rights will trade with the Company’s common stock and will expire at the close of business on October 17, 2025. The Rights will expire under other circumstances as described in the Tax Plan, including on the date set by the Board of Directors following a determination that the Tax Plan is no longer necessary or desirable for the preservation of the Tax Benefits or no significant Tax Benefits are available to be carried forward or are otherwise available. The Board of Directors may terminate the Tax Plan prior to the time the Rights are triggered or may redeem the Rights prior to the Distribution Date, as defined in the Tax Plan. Kukio Resort Land Development Partnerships and Sale of Interest in Leasehold Land In November 2022, Kaupulehu Developments received a percentage of sales payment of $265,000 from the sale of one lot within Increment I. Financial results from the receipt of this payment will be reflected in Barnwell's first quarter of fiscal 2023 ending December 31, 2022. Additionally, in November 2022, Barnwell received a net cash distribution in the amount of $478,000 from the Kukio Resort Land Development Partnerships. Financial results from this distribution will be reflected in Barnwell's first quarter of fiscal 2023 ending December 31, 2022. Oil and Natural Gas Investment In December 2022, the Company, through a new wholly-owned subsidiary named Barnwell Texas, LLC, entered into agreements with an independent third party whereby the Company will now own a 22.3% non-operated working interest in oil and natural gas leasehold acreage and a 15.4% non-operated working interest in the planned drilling of two oil wells in the Permian Basin in Texas. The Company paid $5,099,000 to the independent third party under these agreements. In addition, the Company is obligated to pay a broker’s fee of 5% of the capital invested under this arrangement to Four Pines Exploration LLC - Exploration - Series 1 (“Four Pines”). Four Pines is controlled by Mr. Colin O’Farrell who is an affiliate of Teton Barnwell (see Note 19 for additional details). This transaction will be reflected in Barnwell's first quarter of fiscal 2023 ending December 31, 2022. Cash Dividend In December 2022, the Company's Board of Directors declared a cash dividend of $0.015 per share payable on January 11, 2023 to stockholders of record on December 27, 2022.

SUMMARY OF SELECTED QUARTERLY F

SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Sep. 30, 2022
Quarterly Financial Information Disclosure [Abstract]
SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	SUMMARY OF SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Disclosure is not required as Barnwell qualifies as a smaller reporting company.

SUPPLEMENTARY OIL AND NATURAL G

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)	12 Months Ended
	Sep. 30, 2022
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)	SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) The following tables summarize information relative to Barnwell’s oil and natural gas operations, which are conducted in Canada and in the U.S. state of Oklahoma. Proved reserves are the estimated quantities of oil, natural gas and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved producing oil and natural gas reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. The estimated net interests in total proved and proved producing reserves are based upon subjective engineering judgments and may be affected by the limitations inherent in such estimations. The process of estimating reserves is subject to continual revision as additional information becomes available as a result of drilling, testing, reservoir studies and production history. There can be no assurance that such estimates will not be materially revised in subsequent periods. (A) Oil and Natural Gas Reserves The following tables summarizes changes in the estimates of Barnwell’s net interests in total proved reserves of oil and natural gas liquids and natural gas, which are located in Canada and the U.S. state of Oklahoma. Proved oil, natural gas liquids and natural gas reserves located in the U.S state of Oklahoma were not significant in fiscal 2021 and was therefore not included in the tables below. All of the information regarding Canadian reserves in this Form 10-K is derived from the report of our independent petroleum reserve engineers, InSite, and is included as an Exhibit to this Form 10-K. All of the information regarding U.S. reserves in this Form 10-K is derived from the report of our independent petroleum reserve engineers, Ryder Scott, and is included as an Exhibit to this Form 10-K. The Company emphasizes that reserve estimates are inherently imprecise and that estimates of new discoveries and undeveloped locations are more imprecise than estimates of established proved producing oil and natural gas properties. Accordingly, these estimates are expected to change as future information becomes available. Proved oil and natural gas reserves are the estimated quantities of oil and natural gas that geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under economic and operating conditions (i.e., prices and costs) existing at the time the estimate is made. Proved developed oil and natural gas reserves are proved reserves that can be expected to be recovered through existing wells and equipment in place and under operating methods being utilized at the time the estimates were made. Oil & NGL Canada United States Total Proved reserves: Balance at September 30, 2020 535,000 — 535,000 Revisions of previous estimates 291,000 — 291,000 Acquisitions of reserves 80,000 — 80,000 Less sales of reserves (97,000) — (97,000) Less production (169,000) — (169,000) Balance at September 30, 2021 640,000 — 640,000 Revisions of previous estimates 154,000 — 154,000 Extensions, discoveries and other additions 285,000 132,000 417,000 Acquisitions of reserves 99,000 — 99,000 Less production (188,000) (42,000) (230,000) Proved Reserves, September 30, 2022 990,000 90,000 1,080,000 Proved Developed Reserves, September 30, 2022 956,000 90,000 1,046,000 Proved Undeveloped Reserves, September 30, 2022 34,000 — 34,000 Natural Gas Canada United States Total Proved reserves: Balance at September 30, 2020 2,310,000 — 2,310,000 Revisions of previous estimates 1,345,000 — 1,345,000 Acquisitions of reserves 289,000 — 289,000 Less sales of reserves (341,000) — (341,000) Less production (690,000) — (690,000) Balance at September 30, 2021 2,913,000 — 2,913,000 Revisions of previous estimates 968,000 — 968,000 Extensions, discoveries and other additions 1,200,000 658,000 1,858,000 Acquisitions of reserves 223,000 — 223,000 Less sales of reserves (13,000) — (13,000) Less production (772,000) (192,000) (964,000) Proved Reserves, September 30, 2022 4,519,000 466,000 4,985,000 Proved Developed Reserves, September 30, 2022 4,391,000 466,000 4,857,000 Proved Undeveloped Reserves, September 30, 2022 128,000 — 128,000 Total Equivalent Reserves Canada United States Total Proved reserves: Balance at September 30, 2020 933,000 — 933,000 Revisions of previous estimates 523,000 — 523,000 Acquisitions of reserves 130,000 — 130,000 Less sales of reserves (156,000) — (156,000) Less production (288,000) — (288,000) Balance at September 30, 2021 1,142,000 — 1,142,000 Revisions of previous estimates 321,000 — 321,000 Extensions, discoveries and other additions 492,000 245,000 737,000 Acquisitions of reserves 137,000 — 137,000 Less sales of reserves (2,000) — (2,000) Less production (321,000) (75,000) (396,000) Proved Reserves, September 30, 2022 1,769,000 170,000 1,939,000 Proved Developed Reserves, September 30, 2022 1,713,000 170,000 1,883,000 Proved Undeveloped Reserves, September 30, 2022 56,000 — 56,000 (B) Capitalized Costs Relating to Oil and Natural Gas Producing Activities All capitalized costs relating to oil and natural gas producing activities in Canada and the U.S. are summarized as follows: September 30, 2022 Canada United States Total Proved properties $ 66,825,000 $ 1,058,000 $ 67,883,000 Unproved properties — — — Total capitalized costs 66,825,000 1,058,000 67,883,000 Accumulated depletion, depreciation, and impairment 54,248,000 403,000 54,651,000 Net capitalized costs $ 12,577,000 $ 655,000 $ 13,232,000 September 30, 2021 Canada United States Total Proved properties $ 58,273,000 $ 217,000 $ 58,490,000 Unproved properties — 962,000 962,000 Total capitalized costs 58,273,000 1,179,000 59,452,000 Accumulated depletion, depreciation, and impairment 56,053,000 14,000 56,067,000 Net capitalized costs $ 2,220,000 $ 1,165,000 $ 3,385,000 (C) Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Year ended September 30, 2022 Canada United States Total Acquisition of properties: Proved $ 3,247,000 $ — $ 3,247,000 Unproved — — — Exploration costs 55,000 — 55,000 Development costs 10,574,000 (121,000) 10,453,000 Total $ 13,876,000 $ (121,000) $ 13,755,000 September 30, 2021 Canada United States Total Acquisition of properties: Proved $ 1,032,000 $ 70,000 $ 1,102,000 Unproved — — — Exploration costs 255,000 — 255,000 Development costs 563,000 1,108,000 1,671,000 Total $ 1,850,000 $ 1,178,000 $ 3,028,000 Costs incurred in the tables above include additions and revisions to Barnwell’s asset retirement obligation of $2,703,000 and $811,000 for the years ended September 30, 2022 and 2021, respectively. (D) Results of Operations for Oil and Natural Gas Producing Activities Year ended September 30, 2022 Canada United States Total Net revenues $ 19,085,000 $ 3,496,000 $ 22,581,000 Production costs (8,999,000) (440,000) (9,439,000) Depletion (2,217,000) (389,000) (2,606,000) Pre-tax results of operations (1) 7,869,000 2,667,000 10,536,000 Estimated income tax expense (2) — 107,000 107,000 Results of operations (1) $ 7,869,000 $ 2,560,000 $ 10,429,000 Year ended September 30, 2021 Canada United States Total Net revenues $ 10,136,000 $ 118,000 $ 10,254,000 Production costs (6,532,000) (24,000) (6,556,000) Depletion (631,000) (14,000) (645,000) Reduction of carrying value of oil and natural gas properties (630,000) — (630,000) Pre-tax results of operations (1) 2,343,000 80,000 2,423,000 Estimated income tax expense (2) — — — Results of operations (1) $ 2,343,000 $ 80,000 $ 2,423,000 _________________ (1) Before gain on sale of oil and natural gas properties, general and administrative expenses, interest expense, and foreign exchange gains and losses. (2) Estimated income tax expense includes changes to the deferred income tax valuation allowance necessary for the portion of Canadian and U.S. federal tax law deferred tax assets that may not be realizable. (E) Standardized Measure, Including Year-to-Year Changes Therein, of Estimated Discounted Future Net Cash Flows The following tables utilize reserve and production data estimated by independent petroleum reserve engineers. The information may be useful for certain comparison purposes but should not be solely relied upon in evaluating Barnwell or its performance. Moreover, the projections should not be construed as realistic estimates of future cash flows, nor should the standardized measure be viewed as representing current value. Additionally, proved oil, natural gas liquids and natural gas reserves located in the U.S. were not significant in fiscal 2021 and was therefore not included in the tables below. The estimated future cash flows at September 30, 2022 and 2021 were based on average sales prices in effect on the first day of the month for the preceding twelve month period in accordance with SEC Release No. 33-8995. The future production and development costs represent the estimated future expenditures that we will incur to develop and produce the proved reserves, assuming continuation of existing economic conditions. The future income tax expenses were computed by applying statutory income tax rates in existence at September 30, 2022 and 2021 to the future pre-tax net cash flows relating to proved reserves, net of the tax basis of the properties involved. Material revisions to reserve estimates may occur in the future, development and production of the oil and natural gas reserves may not occur in the periods assumed and actual prices realized and actual costs incurred are expected to vary significantly from those used. Management does not rely upon this information in making investment and operating decisions; rather, those decisions are based upon a wide range of factors, including estimates of probable reserves as well as proved reserves and price and cost assumptions different than those reflected herein. Barnwell has included all abandonment, decommissioning and reclamation costs and inactive well costs in accordance with best practice recommendations into the Company’s reserve reports. Standardized Measure of Discounted Future Net Cash Flows Year ended September 30, 2022 Canada United States Total Future cash inflows $ 93,658,000 $ 6,676,000 $ 100,334,000 Future production costs (44,523,000) (832,000) (45,355,000) Future development costs (274,000) — (274,000) Future income tax expenses (6,908,000) (233,000) (7,141,000) Future net cash flows excluding abandonment, decommissioning and reclamation 41,953,000 5,611,000 47,564,000 Future abandonment, decommissioning and reclamation (16,719,000) (11,000) (16,730,000) Future net cash flows 25,234,000 5,600,000 30,834,000 10% annual discount for timing of cash flows (1,144,000) (1,812,000) (2,956,000) Standardized measure of discounted future net cash flows $ 24,090,000 $ 3,788,000 $ 27,878,000 Year ended September 30, 2021 Canada United States Total Future cash inflows $ 36,130,000 $ — $ 36,130,000 Future production costs (25,323,000) — (25,323,000) Future development costs (240,000) — (240,000) Future income tax expenses (995,000) — (995,000) Future net cash flows excluding abandonment, decommissioning and reclamation 9,572,000 — 9,572,000 Future abandonment, decommissioning and reclamation (14,525,000) — (14,525,000) Future net cash flows (4,953,000) — (4,953,000) 10% annual discount for timing of cash flows 7,598,000 — 7,598,000 Standardized measure of discounted future net cash flows $ 2,645,000 $ — $ 2,645,000 Changes in the Standardized Measure of Discounted Future Net Cash Flows Year ended September 30, 2022 2021 Beginning of year $ 2,645,000 $ (1,685,000) Sales of oil and natural gas produced, net of production costs (13,142,000) (3,604,000) Net changes in prices and production costs, net of royalties and wellhead taxes 27,828,000 5,702,000 Extensions and discoveries 8,889,000 — Net change due to purchases and sales of minerals in place 2,451,000 (882,000) Revisions of previous quantity estimates 4,270,000 4,217,000 Net change in income taxes (4,774,000) (845,000) Accretion of discount (1,566,000) (176,000) Other - changes in the timing of future production and other 801,000 (55,000) Other - net change in Canadian dollar translation rate 476,000 (27,000) Net change 25,233,000 4,330,000 End of year $ 27,878,000 $ 2,645,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona), and a variable interest entity (Teton Barnwell Fund I, LLC) for which the Company is deemed to be the primary beneficiary. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates. Significant assumptions are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements, obligations for retirement plans, contract drilling estimated costs to complete, proved oil and natural gas reserves, and the carrying value of other assets, and such assumptions may impact the amount at which such items are recorded.
Reclassifications	Reclassifications Certain reclassifications of prior period amounts have been made in the Notes to Consolidated Financial Statements to conform to the current period presentations.
Revenue Recognition	Revenue Recognition Barnwell operates in and derives revenue from the following three principal business segments: • Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and Oklahoma. • Land Investment Segment - Barnwell invests in land interests in Hawaii. • Contract Drilling Segment - Barnwell provides well drilling services and water pumping system installation and repairs in Hawaii. Oil and Natural Gas - Barnwell’s investments in oil and natural gas properties are located in Alberta, Canada and Oklahoma. These property interests are principally held under governmental leases or licenses. Barnwell sells the large majority of its oil, natural gas and natural gas liquids production under short-term contracts between itself and marketers based on prices indexed to market prices and recognizes revenue at a point in time when the oil, natural gas and natural gas liquids are delivered, as this is where Barnwell’s performance obligation is satisfied and title has passed to the customer. Land Investment - Barnwell is entitled to receive contingent residual payments from the entities that previously purchased Barnwell’s land investment interests under contracts entered into in prior years. The residual payments under those contracts become due when the entities sell lots and/or residential units in the areas that were previously sold under the aforementioned contracts or when a preferred payment threshold is achieved. The residual payments received by Barnwell are recognized as revenue when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Contract Drilling - Through contracts which are normally less than twelve months in duration, Barnwell drills water and water monitoring wells and installs and repairs water pumping systems in Hawaii. Barnwell recognizes revenue from well drilling or the installation of pumps over time based on total costs incurred on the projects relative to the total expected costs to satisfy the performance obligation as management believes this is an accurate representation of the percentage of completion as control is continuously transferred to the customer. Uninstalled materials, which typically consists of well casing or pumps, are excluded in the costs-to-costs calculation for the duration of the contract as including these costs would result in a distortion of progress towards satisfaction of the performance obligation due to the resulting cumulative catch-up in margin in a single period. An equal amount of cost and revenue is recorded when uninstalled materials are controlled by the customer, which is typically when Barnwell has the right to payment for the materials and when the materials are delivered to the customer’s site or location and such materials have been accepted by the customer. Uninstalled materials are held in inventory and included in “Other current assets” on the Company’s Consolidated Balance Sheets until control is transferred to the customer. When the estimate on a contract indicates a loss, Barnwell records the entire estimated loss in the period the loss becomes known. The contract price may include variable consideration, which includes such items as increases to the transaction price for unapproved change orders and claims for which price has not yet been agreed by the customer. The Company estimates variable consideration using either the most likely amount or expected value method, whichever is a more appropriate reflection of the amount to which it expects to be entitled based on the characteristics and circumstances of the contract. Variable consideration is included in the estimated transaction price to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. Contract price and cost estimates are reviewed periodically as work progresses and adjustments proportionate to the costs incurred to date to total estimated costs at completion are reflected in contract revenues in the reporting period when such estimates are revised. The nature of accounting for these contracts is such that refinements of the estimated costs to complete may occur and are characteristic of the estimation process due to changing conditions and new developments. Many factors and assumptions can and do change during a contract performance obligation period which can result in a change to contract profitability including unforeseen underground geological conditions (to the extent that contract remedies are unavailable), the availability and costs of skilled contract labor, the performance of major material suppliers, the performance of major subcontractors, unusual weather conditions and unexpected changes in material costs, changes in the scope and nature of the work to be performed, and unexpected construction execution errors, among others. These factors may result in revisions to costs and income and are recognized in the period in which the revisions become known. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. Management evaluates the performance of contracts on an individual basis. In the ordinary course of business, but at least quarterly, we prepare updated estimates that may impact the cost and profit or loss for each contract based on actual results to date plus management's best estimate of costs to be incurred to complete each performance obligation. The cumulative effect of revisions in estimates of the total forecasted revenue and costs, including any unapproved change orders and claims, during the course of the contract is reflected in the accounting period in which the facts that caused the revision become known. Changes in the cost estimates can have a material impact on our consolidated financial statements and are reflected in the results of operations when they become known. Unexpected significant inefficiencies that were not considered a risk at the time of entering into the contract, such as design or construction execution errors that result in significant wasted resources, are excluded from the measure of progress toward completion and the costs are expensed as incurred. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from billings in excess of costs and estimated earnings on uncompleted contracts. Contract liabilities are included in “Other current liabilities” on the Company’s Consolidated Balance Sheets. Costs and estimated earnings in excess of billings represent certain amounts under customer contracts that were earned and billable, but yet not invoiced, and are included in contract assets and reported in “Other current assets” on the Company’s Consolidated Balance Sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and short-term investments with original maturities of three months or less.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain bank account balances with high quality financial institutions which often exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash.
Accounts and Other Receivables	Accounts and Other Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is Barnwell’s best estimate of the amount of probable credit losses in Barnwell’s existing accounts receivable and is based on historical write-off experience and the application of the specific identification method. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Barnwell does not have any off-balance sheet credit exposure related to its customers.
Investments in Real Estate	Investments in Real Estate Barnwell accounts for sales of Increment I and Increment II leasehold land interests under the full accrual method. Gains from such sales were recognized when the buyer’s investments were adequate to demonstrate a commitment to pay for the property, risks and rewards of ownership transferred to the buyer, and Barnwell did not have a substantial continuing involvement with the property sold. With regard to payments Kaupulehu Developments is entitled to receive from KD I and KD II, the percentage of sales payments from KD I and KD II and percentage of distributions from KD II are contingent future profits which will be recognized when they are realized. All costs of the sales of Increment I and Increment II leasehold land interests were recognized at the time of sale and were not deferred to future periods when any contingent profits will be recognized.
Variable Interest Entities	The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is the primary beneficiary, may require significant judgment. Barnwell analyzes its entities in which it has a variable interest to determine whether the entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. Entities that have been determined to be VIEs and for which we have a controlling financial interest and are therefore the VIE’s primary beneficiary are consolidated (see Note 4). Entities that have been determined to be VIEs and for which we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary are not consolidated. These unconsolidated entities are accounted for under the equity method (see Note 3).
Equity Method Investments	Equity Method Investments Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3% to 5% ownership interest and does not control, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments and other adjustments required by the equity method. Gains or losses are realized when such investments are sold. Barnwell classifies distributions received from equity method investments using the cumulative earnings approach in the Consolidated Statements of Cash Flows. Under the cumulative earnings approach, distributions received up to the amount of cumulative equity in earnings recognized are treated as returns on investment and are classified within operating cash flows and those in excess of that amount are treated as returns of investment and are classified within investing cash flows.
Oil and Natural Gas Properties	Oil and Natural Gas Properties Barnwell uses the full cost method of accounting under which all costs incurred in the acquisition, exploration and development of oil and natural gas reserves, including costs related to unsuccessful wells and estimated future site restoration and abandonment, are capitalized. We capitalize internal costs that can be directly identified with our acquisition, exploration and development activities and do not include any costs related to production, general corporate overhead or similar activities. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. Costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unevaluated and unproved properties are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under the full cost method of accounting, we review the carrying value of our oil and natural gas properties, on a country-by-country basis, each quarter in what is commonly referred to as the ceiling test. Under the ceiling test, capitalized costs, net of accumulated depletion and oil and natural gas related deferred income taxes, may not exceed an amount equal to the sum of 1) the discounted present value (at 10%), using average first-day-of-the-month prices during the 12-month period ending as of the balance sheet date held constant over the life of the reserves, of Barnwell’s estimated future net cash flows from estimated production of proved oil and natural gas reserves as determined by independent petroleum reserve engineers, less estimated future expenditures to be incurred in developing and producing the proved reserves but excluding future cash outflows associated with settling asset retirement obligations with the exception of those associated with proved undeveloped reserves from wells that are to be drilled in the future; plus 2) the cost of major development projects and unproven properties not subject to depletion, if any; plus 3) the lower of cost or estimated fair value of unproven properties included in costs subject to depletion; less 4) related income tax effects. If net capitalized costs exceed this limit, the excess is expensed. Depletion is computed using the units-of-production method whereby capitalized costs, net of estimated salvage values, plus estimated future costs to develop proved reserves and satisfy asset retirement obligations, are amortized over the total estimated proved reserves on a country-by-country basis. Investments in major development projects are not depleted until either proved reserves are associated with the projects or impairment has been determined. Proceeds from the disposition of oil and natural gas properties are credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves in a particular country. Given the volatility of oil and gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved oil and gas reserves could change in the near term. If oil and gas prices decline in the future, even if only for a short period of time, it is possible that impairments of oil and gas properties could occur. In addition, it is reasonably possible that impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved oil and gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved oil and gas reserves. Barnwell’s sales reflect its working interest share after royalties. Barnwell’s production is generally delivered and sold at the plant gate. Barnwell does not have transportation volume commitments with pipelines and does not have natural gas imbalances related to natural gas balancing arrangements with its partners.
Acquisitions	Acquisitions In accordance with the guidance for business combinations, Barnwell determines whether an acquisition is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method
Long-lived Assets	Long-lived Assets Long-lived assets to be held and used, other than oil and natural gas properties, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. Recoverability is measured by comparing the carrying amount of the asset to the future net cash flows expected to result from use of the asset (undiscounted and without interest charges). If it is determined that the asset may not be recoverable, impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of the asset carrying value or fair value, less cost to sell. Water well drilling rigs, office and other property and equipment are depreciated using the straight-line method based on estimated useful lives.
Share-based Compensation	Share-based Compensation Share-based compensation cost is measured at fair value. Barnwell utilizes a closed-form valuation model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of Barnwell’s stock over a period consistent with that of the expected terms of the options. The expected terms of the options represent expectations of future employee exercise and are estimated based on factors such as vesting periods, contractual expiration dates, historical trends in Barnwell’s stock price, and historical exercise behavior. If the Company does not have sufficient historical data regarding employee exercise behavior, the “simplified method” as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment is utilized to estimate the expected terms of the options. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms. Expected dividends are based on historical dividend payments. The Company's policy is to recognize forfeitures as they occur.
Retirement Plans	Retirement Plans Barnwell accounts for its defined benefit pension plan, Supplemental Executive Retirement Plan, and post-retirement medical insurance benefits plan, which was terminated in June 2021, by recognizing the over-funded or under-funded status as an asset or liability in its Consolidated Balance Sheets and recognizes changes in that funded status in the year in which the changes occur through comprehensive income. See further discussion at Note 8. The estimation of Barnwell’s retirement plan obligations, costs and liabilities requires management to estimate the amount and timing of cash outflows for projected future payments and cash inflows for maturities and expected returns on plan assets. These assumptions may have an effect on the amount and timing of future contributions. At the end of each year, Barnwell determines the discount rate to be used to calculate the present value of plan liabilities and the net periodic benefit cost. The discount rate is an estimate of the current interest rate at which the retirement plan liabilities could be effectively settled at the end of the year. In estimating this rate, Barnwell performs a cash-flow matching discount rate analysis developed using high-quality corporate bonds yield. The discount rate used to value the future benefit obligation as of each year-end is the rate used to determine the periodic benefit cost in the following year. The expected long-term return on assets assumption for the pension plans represents the average rate of return to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. The actual fair value of plan assets and estimated rate of return is used to determine the expected investment return during the year. The estimated rate of return on plan assets is based on an estimate of future experience for plan asset returns, the mix of plan assets, current market conditions, and expectations for future market conditions. A decrease (increase) of 50 basis points in the expected return on assets assumption would increase (decrease) pension expense by approximately $56,000 based on the assets of the plan at September 30, 2022.
Asset Retirement Obligation	Asset Retirement Obligation Barnwell accounts for asset retirement obligations by recognizing the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. Barnwell estimates the fair value of asset retirement obligations based on the projected discounted future cash outflows required to settle abandonment and restoration liabilities. Such an estimate requires assumptions and judgments regarding the existence of liabilities, the amount and timing of cash outflows required to settle the liability, what constitutes adequate restoration, inflation factors, credit adjusted discount rates, and consideration of changes in legal, regulatory, environmental and political environments. Abandonment and restoration cost estimates are determined in conjunction with Barnwell’s reserve engineers based on historical information regarding costs incurred to abandon and restore similar well sites, information regarding current market conditions and costs, and knowledge of subject well sites and properties. These assumptions represent Level 3 inputs. Barnwell’s estimated site restoration and abandonment costs of its oil and natural gas properties are capitalized as part of the carrying amount of oil and natural gas properties and depleted over the life of the related reserves. When the assumptions used to estimate a recorded asset retirement obligation change, a revision is recorded to both the asset retirement obligation and the capitalized cost of asset retirements. The liability is accreted at the end of each period through charges to oil and natural gas operating expense.
Income Taxes	Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax impacts of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax asset will not be realized.
Environmental	Environmental Barnwell is subject to extensive environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and maintenance of surface conditions and may require Barnwell to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefit are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable, and the costs can be reasonably estimated.
Foreign Currency Translations and Transactions	Foreign Currency Translations and Transactions Assets and liabilities of foreign subsidiaries are translated at the year-end exchange rate. Operating results of foreign subsidiaries are translated at average exchange rates during the period. Translation adjustments have no effect on net income and are included in “Accumulated other comprehensive income, net” in stockholders’ equity.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities in active markets and have the highest priority. • Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs for the financial asset or liability and have the lowest priority.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In 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 PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Reconciliations between net earnings attributable to stockholders and common shares outstanding of the basic and diluted net earnings per share computations	Reconciliations between net earnings attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net earnings per share computations are detailed in the following tables: Year ended September 30, 2022 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 5,513,000 9,732,936 $ 0.57 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 5,513,000 9,732,936 $ 0.57 Year ended September 30, 2021 Net Earnings Shares Per-Share (Numerator) (Denominator) Amount Basic net earnings per share $ 6,253,000 8,592,154 $ 0.73 Effect of dilutive securities - common stock options — — Diluted net earnings per share $ 6,253,000 8,592,154 $ 0.73

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Sep. 30, 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: Year ended September 30, 2022 2021 Revenue $ 24,577,000 $ 43,013,000 Gross profit $ 16,934,000 $ 24,759,000 Net earnings $ 13,763,000 $ 20,612,000
Summary of Increment I and Increment II percentage of sales payment revenues received	The following table summarizes the Increment I revenues from KD I and the amount of fees directly related to such revenues (see Note 17 “Commitments and Contingencies - Other Matters”): Year ended September 30, 2022 2021 Sale of interest in leasehold land: Revenues - sale of interest in leasehold land $ 1,295,000 $ 1,738,000 Fees - included in general and administrative expenses (158,000) (212,000) Sale of interest in leasehold land, net of fees paid $ 1,137,000 $ 1,526,000

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITY (Tables)	12 Months Ended
	Sep. 30, 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. September 30, September 30, ASSETS Cash and cash equivalents $ 623,000 $ 136,000 Accounts and other receivables 606,000 118,000 Oil and natural gas properties, full cost method of accounting: Proved properties, net 655,000 203,000 Unproved properties — 962,000 Total assets $ 1,884,000 $ 1,419,000 LIABILITIES Accounts payable $ 15,000 $ 3,000 Accrued capital expenditures — 581,000 Accrued operating and other expenses 26,000 20,000 Total liabilities $ 41,000 $ 604,000

PROPERTY AND EQUIPMENT AND AS_2

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Sep. 30, 2022
PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION
Schedule of property and equipment	Barnwell’s property and equipment is detailed as follows: Estimated Gross Accumulated Net At September 30, 2022: Oil and natural gas properties: Proved properties $ 67,883,000 $ (54,651,000) $ 13,232,000 Unproved properties — — — Total oil and natural gas properties 67,883,000 (54,651,000) 13,232,000 Drilling rigs and equipment 3 – 10 years 6,304,000 (5,943,000) 361,000 Other property and equipment 3 – 10 years 619,000 (611,000) 8,000 Total $ 74,806,000 $ (61,205,000) $ 13,601,000 Estimated Gross Accumulated Net At September 30, 2021: Oil and natural gas properties: Proved properties $ 58,490,000 $ (56,067,000) $ 2,423,000 Unproved properties 962,000 — 962,000 Total oil and natural gas properties 59,452,000 (56,067,000) 3,385,000 Drilling rigs and equipment 3 – 10 years 7,273,000 (6,789,000) 484,000 Other property and equipment 3 – 10 years 687,000 (681,000) 6,000 Total $ 67,412,000 $ (63,537,000) $ 3,875,000
Schedule of reconciliation of the asset retirement obligation	The following is a reconciliation of the asset retirement obligation: Year ended September 30, 2022 2021 Asset retirement obligation as of beginning of year $ 7,053,000 $ 6,194,000 Obligations incurred on new wells drilled or acquired 1,682,000 532,000 Liabilities associated with properties sold (483,000) (375,000) Revision of estimated obligation 1,021,000 279,000 Accretion expense 767,000 580,000 Payments (942,000) (421,000) Foreign currency translation adjustment (642,000) 264,000 Asset retirement obligation as of end of year 8,456,000 7,053,000 Less current portion (1,327,000) (713,000) Asset retirement obligation, long-term $ 7,129,000 $ 6,340,000

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	12 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans	The following tables detail the changes in benefit obligations, fair values of plan assets and reconciliations of the funded status of the retirement plans: Pension SERP Post-retirement Medical September 30, 2022 2021 2022 2021 2022 2021 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 10,365,000 $ 10,280,000 $ 2,136,000 $ 2,031,000 $ — $ 2,839,000 Interest cost 290,000 258,000 60,000 51,000 — 48,000 Actuarial (gain) loss (2,418,000) (15,000) (478,000) 63,000 — — Benefits paid (306,000) (158,000) (3,000) (9,000) — (5,000) Termination of post-retirement medical plan — — — — — (2,882,000) Benefit obligation at end of year 7,931,000 10,365,000 1,715,000 2,136,000 — — Change in Plan Assets: Fair value of plan assets at beginning of year 12,594,000 11,051,000 — — — — Actual return on plan assets (972,000) 1,701,000 — — — — Employer contributions — — — — — 5,000 Benefits paid (306,000) (158,000) — — — (5,000) Fair value of plan assets at end of year 11,316,000 12,594,000 — — — — Funded status $ 3,385,000 $ 2,229,000 $ (1,715,000) $ (2,136,000) $ — $ —
Schedule of amounts recognized in the consolidated balance sheets	Pension SERP Post-retirement Medical September 30, 2022 2021 2022 2021 2022 2021 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 3,385,000 $ 2,229,000 $ — $ — $ — $ — Current liabilities — — (66,000) (35,000) — — Noncurrent liabilities — — (1,649,000) (2,101,000) — — Net amount $ 3,385,000 $ 2,229,000 $ (1,715,000) $ (2,136,000) $ — $ — Amounts recognized in accumulated other comprehensive income before income taxes: Net actuarial (gain) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ — Accumulated other comprehensive (income) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ —
Schedule of amounts recognized in accumulated other comprehensive (loss) income	Pension SERP Post-retirement Medical September 30, 2022 2021 2022 2021 2022 2021 Amounts recognized in the Consolidated Balance Sheets: Noncurrent assets $ 3,385,000 $ 2,229,000 $ — $ — $ — $ — Current liabilities — — (66,000) (35,000) — — Noncurrent liabilities — — (1,649,000) (2,101,000) — — Net amount $ 3,385,000 $ 2,229,000 $ (1,715,000) $ (2,136,000) $ — $ — Amounts recognized in accumulated other comprehensive income before income taxes: Net actuarial (gain) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ — Accumulated other comprehensive (income) loss $ (353,000) $ 471,000 $ (343,000) $ 135,000 $ — $ —
Schedule of weighted-average assumptions used to determine benefit obligations and net periodic benefit (income) costs	The following table presents the weighted-average assumptions used to determine benefit obligations and net benefit (income) costs: Pension SERP Post-retirement Medical Year ended September 30, 2022 2021 2022 2021 2022 2021 Assumptions used to determine fiscal year-end benefit obligations: Discount rate 5.25% 2.84% 5.25% 2.84% N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A Assumptions used to determine net benefit costs (years ended): Discount rate 2.84% 2.54% 2.84% 2.54% N/A 2.54% / 3.00% (1) Expected return on plan assets 5.00% 5.00% N/A N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A _______________________________________________ (1) 2.54% as of September 30, 2020 and 3.00% as of May 31, 2021 termination.
Schedule of components of net periodic benefit (income) cost	The components of net periodic benefit (income) cost are as follows: Pension SERP Post-retirement Medical Year ended September 30, 2022 2021 2022 2021 2022 2021 Net periodic benefit (income) cost for the year: Interest cost $ 290,000 $ 258,000 $ 60,000 $ 51,000 $ — $ 48,000 Expected return on plan assets (622,000) (546,000) — — — — Amortization of net actuarial loss — 39,000 — — — 62,000 Net periodic benefit (income) cost $ (332,000) $ (249,000) $ 60,000 $ 51,000 $ — $ 110,000
Schedule of benefits expected to be paid under the retirement plans	The benefits expected to be paid under the retirement plans as of September 30, 2022 are as follows: Pension SERP Expected Benefit Payments: Fiscal year ending September 30, 2023 $ 412,000 $ 66,000 Fiscal year ending September 30, 2024 $ 552,000 $ 130,000 Fiscal year ending September 30, 2025 $ 545,000 $ 129,000 Fiscal year ending September 30, 2026 $ 537,000 $ 128,000 Fiscal year ending September 30, 2027 $ 529,000 $ 127,000 Fiscal years ending September 30, 2028 through 2032 $ 2,969,000 $ 667,000
Schedule of year-end target allocation, by asset category, and the actual asset allocations	The Company’s year-end target allocation, by asset category, and the actual asset allocations were as follows: Target September 30, Asset Category Allocation 2022 2021 Cash and other 0% - 25% 14% —% Fixed income securities 15% - 40% 34% 31% Equity securities 45% - 75% 52% 69%
Schedule of pension plan assets at fair value	The following tables set forth by level, within the fair value hierarchy, pension plan assets at their fair value: Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 1,539,000 $ 1,539,000 $ — $ — Corporate bonds 1,000 1,000 — — U.S. treasury and government securities 561,000 561,000 — — Fixed income exchange-traded funds 3,223,000 3,223,000 — — Preferred securities 67,000 67,000 — — Equity securities exchange-traded funds 408,000 408,000 — — Equities 5,517,000 5,517,000 — — Total $ 11,316,000 $ 11,316,000 $ — $ — Fair Value Measurements Using: Carrying Quoted Significant Significant Financial Assets: Cash $ 25,000 $ 25,000 $ — $ — Corporate bonds 1,000 1,000 — — Fixed income exchange-traded funds 3,809,000 3,809,000 — — Preferred securities 48,000 48,000 — — Equity securities exchange-traded funds 459,000 459,000 — — Equities 8,252,000 8,252,000 — — Total $ 12,594,000 $ 12,594,000 $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests	The components of earnings before income taxes, after adjusting the earnings for non-controlling interests, are as follows: Year ended September 30, 2022 2021 United States $ 739,000 $ 5,436,000 Canada 5,121,000 1,149,000 $ 5,860,000 $ 6,585,000
Schedule of components of the income tax provision (benefit)	The components of the income tax provision related to the above earnings are as follows: Year ended September 30, 2022 2021 Current provision: United States – Federal Before operating loss carryforwards $ 727,000 $ 60,000 Benefit of operating loss carryforwards (665,000) (60,000) After operating loss carryforwards 62,000 — United States – State Before operating loss carryforwards 518,000 174,000 Benefit of operating loss carryforwards (62,000) (7,000) After operating loss carryforwards 456,000 167,000 Canadian Before operating loss carryforwards 510,000 — Benefit of operating loss carryforwards (510,000) — After operating loss carryforwards — — Total current 518,000 167,000 Deferred (benefit) provision: United States – State (171,000) 165,000 Canadian — — Total deferred (171,000) 165,000 $ 347,000 $ 332,000
Summary of reconciliation between the reported income tax provision (benefit) and the amount computed by multiplying the loss by the U.S. federal tax rate	A reconciliation between the reported income tax expense and the amount computed by multiplying the earnings attributable to Barnwell before income taxes by the U.S. federal tax rate of 21% is as follows: Year ended September 30, 2022 2021 Tax provision computed by applying statutory rate $ 1,231,000 $ 1,383,000 Decrease in the valuation allowance (1,450,000) (1,427,000) Additional effect of the foreign tax provision on the total tax provision 130,000 31,000 Uncertain tax positions 62,000 — U.S. state tax provision, net of federal benefit 285,000 332,000 Other 89,000 13,000 $ 347,000 $ 332,000
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: September 30, 2022 2021 Deferred income tax assets: Foreign tax credit carryover under U.S. tax law $ 953,000 $ 1,197,000 U.S. federal net operating loss carryover 8,258,000 8,846,000 U.S. state unitary net operating loss carryovers 1,117,000 939,000 Canadian net operating loss carryovers 877,000 1,411,000 Tax basis of investment in land in excess of book basis under U.S. tax law 26,000 305,000 Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law — 1,091,000 Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law 568,000 699,000 Liabilities accrued for books but not for tax under U.S. tax law 882,000 1,225,000 Liabilities accrued for books but not for tax under Canadian tax law 2,120,000 1,813,000 Foreign currency loss under U.S. tax law 102,000 — Foreign currency loss under Canadian tax law 124,000 — Other 278,000 442,000 Total gross deferred income tax assets 15,305,000 17,968,000 Less valuation allowance (12,608,000) (14,616,000) Net deferred income tax assets 2,697,000 3,352,000 Deferred income tax liabilities: Property and equipment accumulated tax depreciation and depletion in excess of book under Canadian tax law (280,000) — Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law (545,000) (1,156,000) Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law (166,000) (352,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law (121,000) (142,000) U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law (23,000) (7,000) U.S. tax law impact of foreign branch deferred tax asset under Canadian tax law (1,465,000) (1,782,000) Other (285,000) (272,000) Total deferred income tax liabilities (2,885,000) (3,711,000) Net deferred income tax liability $ (188,000) $ (359,000) Reported as: Deferred income tax assets — — Deferred income tax liabilities (188,000) (359,000) Net deferred income tax liability $ (188,000) $ (359,000)
Schedule of unrecognized tax benefits	Below are the changes in unrecognized tax benefits. Year ended September 30, 2022 2021 Balance at beginning of year $ — $ — Effect of tax positions taken in prior years 60,000 — Accrued interest related to tax positions taken 2,000 — Balance at end of year $ 62,000 $ —
Summary of tax years, by jurisdiction, that remain subject to examination by taxing authorities	Included below is a summary of the tax years, by jurisdiction, that remain subject to examination by taxing authorities at September 30, 2022: Jurisdiction Fiscal Years Open U.S. federal 2019 – 2021 Various U.S. states 2019 – 2021 Canada federal 2015 – 2021 Various Canadian provinces 2015 – 2021

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Sep. 30, 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 years ended September 30, 2022 and 2021. Year ended September 30, 2022 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 15,747,000 $ — $ — $ — $ 15,747,000 Natural gas 4,527,000 — — — 4,527,000 Natural gas liquids 2,307,000 — — — 2,307,000 Drilling and pump — 4,540,000 — — 4,540,000 Contingent residual payments — — 1,295,000 — 1,295,000 Other — — — 111,000 111,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Geographical regions: United States $ 3,496,000 $ 4,540,000 $ 1,295,000 $ 9,000 $ 9,340,000 Canada 19,085,000 — — 102,000 19,187,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Timing of revenue recognition: Goods transferred at a point in time $ 22,581,000 $ — $ 1,295,000 $ 111,000 $ 23,987,000 Services transferred over time — 4,540,000 — — 4,540,000 Total revenues before interest income $ 22,581,000 $ 4,540,000 $ 1,295,000 $ 111,000 $ 28,527,000 Year ended September 30, 2021 Oil and natural gas Contract drilling Land investment Other Total Revenue streams: Oil $ 7,617,000 $ — $ — $ — $ 7,617,000 Natural gas 1,871,000 — — — 1,871,000 Natural gas liquids 766,000 — — — 766,000 Drilling and pump — 5,809,000 — — 5,809,000 Contingent residual payments — — 1,738,000 — 1,738,000 Other — — — 304,000 304,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Geographical regions: United States $ 118,000 $ 5,809,000 $ 1,738,000 $ 35,000 $ 7,700,000 Canada 10,136,000 — — 269,000 10,405,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000 Timing of revenue recognition: Goods transferred at a point in time $ 10,254,000 $ — $ 1,738,000 $ 304,000 $ 12,296,000 Services transferred over time — 5,809,000 — — 5,809,000 Total revenues before interest income $ 10,254,000 $ 5,809,000 $ 1,738,000 $ 304,000 $ 18,105,000
Summary of contract with customer, asset and liability	The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers: September 30, 2022 2021 Accounts receivables from contracts with customers $ 4,038,000 $ 2,797,000 Contract assets 580,000 581,000 Contract liabilities 1,087,000 455,000
Schedule of uninstalled materials	A summary of Barnwell's uninstalled materials is as follows: September 30, 2022 September 30, 2021 Uninstalled materials $ 351,000 $ 226,000

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Sep. 30, 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. Year ended September 30, 2022 2021 Revenues: Oil and natural gas $ 22,581,000 $ 10,254,000 Contract drilling 4,540,000 5,809,000 Land investment 1,295,000 1,738,000 Other 111,000 304,000 Total before interest income 28,527,000 18,105,000 Interest income 18,000 8,000 Total revenues $ 28,545,000 $ 18,113,000 Depletion, depreciation, and amortization: Oil and natural gas $ 2,606,000 $ 645,000 Contract drilling 171,000 305,000 Other 1,000 13,000 Total depletion, depreciation, and amortization $ 2,778,000 $ 963,000 Impairment: Oil and natural gas $ — $ 630,000 Contract drilling — 38,000 Land investment 89,000 — Total impairment $ 89,000 $ 668,000 Operating profit (loss) (before general and administrative expenses): Oil and natural gas $ 10,536,000 $ 2,423,000 Contract drilling (222,000) (89,000) Land investment 1,206,000 1,738,000 Other 110,000 291,000 Gain on sale of assets — 1,982,000 Total operating profit 11,630,000 6,345,000 Equity in income of affiliates: Land investment 3,400,000 5,793,000 General and administrative expenses (8,044,000) (7,088,000) Foreign currency loss (484,000) — Interest expense (1,000) (13,000) Interest income 18,000 8,000 Gain on debt extinguishment — 149,000 Gain on termination of post-retirement medical plan — 2,341,000 Earnings before income taxes $ 6,519,000 $ 7,535,000 Capital Expenditures: Year ended September 30, 2022 2021 Oil and natural gas $ 13,755,000 $ 3,028,000 Contract drilling 45,000 62,000 Other 5,000 1,000 Total $ 13,805,000 $ 3,091,000 Oil and natural gas capital expenditures include acquisitions as well as changes to capitalized asset retirement obligations, including revisions of asset retirement obligations (see Note 7 for additional details). Assets By Segment: September 30, 2022 2021 Oil and natural gas (1) $ 17,477,000 $ 6,401,000 Contract drilling (2) 3,260,000 4,071,000 Other: Cash and cash equivalents 12,804,000 11,279,000 Corporate and other 3,674,000 2,684,000 Total $ 37,215,000 $ 24,435,000 ______________ (1) L ocated primarily in the province of Alberta, Canada with a minor portion in Oklahoma. (2) Located in Hawaii.
Schedule of long-lived assets and revenue by geographic area	Long-Lived Assets By Geographic Area: September 30, 2022 2021 United States $ 4,540,000 $ 4,180,000 Canada 12,578,000 2,220,000 Total $ 17,118,000 $ 6,400,000 Revenue By Geographic Area: Year ended September 30, 2022 2021 United States $ 9,340,000 $ 7,700,000 Canada 19,187,000 10,405,000 Total (excluding interest income) $ 28,527,000 $ 18,105,000

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of components of accumulated other comprehensive (loss) income, net of taxes	Components of accumulated other comprehensive income, net of taxes, are as follows: Year ended September 30, 2022 2021 Foreign currency translation: Beginning accumulated foreign currency translation $ 262,000 $ 545,000 Change in cumulative translation adjustment before reclassifications (40,000) (283,000) Income taxes — — Net current period other comprehensive loss (40,000) (283,000) Ending accumulated foreign currency translation 222,000 262,000 Retirement plans: Beginning accumulated retirement plans benefit cost (230,000) (1,980,000) Amortization of net actuarial loss — 101,000 Net actuarial gain arising during the period 1,302,000 1,108,000 Gain on termination of post-retirement medical plan — 541,000 Income taxes — — Net current period other comprehensive income 1,302,000 1,750,000 Ending accumulated retirement plans benefit income (cost) 1,072,000 (230,000) Accumulated other comprehensive income, net of taxes $ 1,294,000 $ 32,000

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Lease asset and liabilities	Leases recorded on the balance sheet consist of the following: September 30, 2022 2021 Assets: Operating lease right-of-use assets $ 132,000 $ 296,000 Total right-of-use assets $ 132,000 $ 296,000 Liabilities: Current portion of operating lease liabilities (1) $ 105,000 $ 117,000 Operating lease liabilities 117,000 180,000 Total lease liabilities $ 222,000 $ 297,000 ______________ (1) Amount included in “Other Current Liabilities” in the Consolidated Balance Sheets .
Lease costs	The components of lease expense are as follows: Year ended September 30, 2022 2021 Operating lease cost $ 108,000 $ 130,000 Short-term lease cost 327,000 254,000 Variable lease cost 154,000 103,000 Total lease cost $ 589,000 $ 487,000
Supplemental lease information	Supplemental information related to leases is as follows: September 30, 2022 2021 Cash paid related to operating lease liabilities $ 108,000 $ 133,000 Operating leases: Weighted-average remaining lease term (in years) 2.4 2.9 Weighted-average discount rate 5.30% 5.19%
Operating lease maturity schedule	The remaining lease payments for our operating leases as of September 30, 2022, are as follows: Fiscal year ending: 2023 $ 113,000 2024 75,000 2025 41,000 2026 8,000 2027 — Thereafter through 2028 — Total lease payments 237,000 Less: amounts representing interest (15,000) Present value of lease liabilities $ 222,000

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Sep. 30, 2022
Share-based compensation
Summary of the activity in share options	A summary of the activity in Barnwell’s equity-classified share options from October 1, 2021 through September 30, 2022 is presented below: Options Shares Weighted- Weighted- Aggregate Outstanding at October 1, 2021 615,000 $ 3.36 Granted — — Exercised — — Expired/Forfeited — — Outstanding at September 30, 2022 615,000 $ 3.36 7.9 $ — Exercisable at September 30, 2022 205,000 $ 3.36 7.9 $ —
Equity-classified share options
Share-based compensation
Schedule of assumptions used in estimating fair value	The following assumptions were used in estimating the fair value for equity-classified share options granted in the year ended September 30, 2021: > 10% Owner-Employee Others Number of shares 60,000 605,000 Expected volatility 127.4% 105.8% Expected dividends None None Expected term (in years) 3.5 6.0 Risk-free interest rate 0.19% 0.82% Expected forfeitures None None Fair value per share $2.51 $2.70

INFORMATION RELATING TO THE C_2

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	12 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	The following table details the effect of changes in current assets and liabilities on the Consolidated Statements of Cash Flows, and presents supplemental cash flow information: Year ended September 30, 2022 2021 Increase (decrease) from changes in: Receivables $ (1,763,000) $ (814,000) Income tax receivable 15,000 457,000 Other current assets (531,000) (920,000) Accounts payable 110,000 (746,000) Accrued compensation (48,000) 668,000 Other current liabilities 1,190,000 (796,000) Decrease from changes in current assets and liabilities $ (1,027,000) $ (2,151,000) Supplemental disclosure of cash flow information: Cash paid (received) during the year for: Income taxes refunded, net $ (98,000) $ (303,000) Supplemental disclosure of non-cash investing activities: Canadian income tax withheld on proceeds from the sale of oil and natural gas properties $ — $ 598,000

SUPPLEMENTARY OIL AND NATURAL_2

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Sep. 30, 2022
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Summary of changes in the estimates of net interests in total proved developed reserves of oil and natural gas liquids and natural gas	Oil & NGL Canada United States Total Proved reserves: Balance at September 30, 2020 535,000 — 535,000 Revisions of previous estimates 291,000 — 291,000 Acquisitions of reserves 80,000 — 80,000 Less sales of reserves (97,000) — (97,000) Less production (169,000) — (169,000) Balance at September 30, 2021 640,000 — 640,000 Revisions of previous estimates 154,000 — 154,000 Extensions, discoveries and other additions 285,000 132,000 417,000 Acquisitions of reserves 99,000 — 99,000 Less production (188,000) (42,000) (230,000) Proved Reserves, September 30, 2022 990,000 90,000 1,080,000 Proved Developed Reserves, September 30, 2022 956,000 90,000 1,046,000 Proved Undeveloped Reserves, September 30, 2022 34,000 — 34,000 Natural Gas Canada United States Total Proved reserves: Balance at September 30, 2020 2,310,000 — 2,310,000 Revisions of previous estimates 1,345,000 — 1,345,000 Acquisitions of reserves 289,000 — 289,000 Less sales of reserves (341,000) — (341,000) Less production (690,000) — (690,000) Balance at September 30, 2021 2,913,000 — 2,913,000 Revisions of previous estimates 968,000 — 968,000 Extensions, discoveries and other additions 1,200,000 658,000 1,858,000 Acquisitions of reserves 223,000 — 223,000 Less sales of reserves (13,000) — (13,000) Less production (772,000) (192,000) (964,000) Proved Reserves, September 30, 2022 4,519,000 466,000 4,985,000 Proved Developed Reserves, September 30, 2022 4,391,000 466,000 4,857,000 Proved Undeveloped Reserves, September 30, 2022 128,000 — 128,000 Total Equivalent Reserves Canada United States Total Proved reserves: Balance at September 30, 2020 933,000 — 933,000 Revisions of previous estimates 523,000 — 523,000 Acquisitions of reserves 130,000 — 130,000 Less sales of reserves (156,000) — (156,000) Less production (288,000) — (288,000) Balance at September 30, 2021 1,142,000 — 1,142,000 Revisions of previous estimates 321,000 — 321,000 Extensions, discoveries and other additions 492,000 245,000 737,000 Acquisitions of reserves 137,000 — 137,000 Less sales of reserves (2,000) — (2,000) Less production (321,000) (75,000) (396,000) Proved Reserves, September 30, 2022 1,769,000 170,000 1,939,000 Proved Developed Reserves, September 30, 2022 1,713,000 170,000 1,883,000 Proved Undeveloped Reserves, September 30, 2022 56,000 — 56,000
Schedule of capitalized costs relating to oil and natural gas producing activities	All capitalized costs relating to oil and natural gas producing activities in Canada and the U.S. are summarized as follows: September 30, 2022 Canada United States Total Proved properties $ 66,825,000 $ 1,058,000 $ 67,883,000 Unproved properties — — — Total capitalized costs 66,825,000 1,058,000 67,883,000 Accumulated depletion, depreciation, and impairment 54,248,000 403,000 54,651,000 Net capitalized costs $ 12,577,000 $ 655,000 $ 13,232,000 September 30, 2021 Canada United States Total Proved properties $ 58,273,000 $ 217,000 $ 58,490,000 Unproved properties — 962,000 962,000 Total capitalized costs 58,273,000 1,179,000 59,452,000 Accumulated depletion, depreciation, and impairment 56,053,000 14,000 56,067,000 Net capitalized costs $ 2,220,000 $ 1,165,000 $ 3,385,000
Schedule of costs incurred in oil and natural gas property acquisition, exploration and development	Year ended September 30, 2022 Canada United States Total Acquisition of properties: Proved $ 3,247,000 $ — $ 3,247,000 Unproved — — — Exploration costs 55,000 — 55,000 Development costs 10,574,000 (121,000) 10,453,000 Total $ 13,876,000 $ (121,000) $ 13,755,000 September 30, 2021 Canada United States Total Acquisition of properties: Proved $ 1,032,000 $ 70,000 $ 1,102,000 Unproved — — — Exploration costs 255,000 — 255,000 Development costs 563,000 1,108,000 1,671,000 Total $ 1,850,000 $ 1,178,000 $ 3,028,000
Schedule of results of operations for oil and natural gas producing activities	Year ended September 30, 2022 Canada United States Total Net revenues $ 19,085,000 $ 3,496,000 $ 22,581,000 Production costs (8,999,000) (440,000) (9,439,000) Depletion (2,217,000) (389,000) (2,606,000) Pre-tax results of operations (1) 7,869,000 2,667,000 10,536,000 Estimated income tax expense (2) — 107,000 107,000 Results of operations (1) $ 7,869,000 $ 2,560,000 $ 10,429,000 Year ended September 30, 2021 Canada United States Total Net revenues $ 10,136,000 $ 118,000 $ 10,254,000 Production costs (6,532,000) (24,000) (6,556,000) Depletion (631,000) (14,000) (645,000) Reduction of carrying value of oil and natural gas properties (630,000) — (630,000) Pre-tax results of operations (1) 2,343,000 80,000 2,423,000 Estimated income tax expense (2) — — — Results of operations (1) $ 2,343,000 $ 80,000 $ 2,423,000 _________________ (1) Before gain on sale of oil and natural gas properties, general and administrative expenses, interest expense, and foreign exchange gains and losses.
Schedule of standardized measure of discounted future net cash flows	Year ended September 30, 2022 Canada United States Total Future cash inflows $ 93,658,000 $ 6,676,000 $ 100,334,000 Future production costs (44,523,000) (832,000) (45,355,000) Future development costs (274,000) — (274,000) Future income tax expenses (6,908,000) (233,000) (7,141,000) Future net cash flows excluding abandonment, decommissioning and reclamation 41,953,000 5,611,000 47,564,000 Future abandonment, decommissioning and reclamation (16,719,000) (11,000) (16,730,000) Future net cash flows 25,234,000 5,600,000 30,834,000 10% annual discount for timing of cash flows (1,144,000) (1,812,000) (2,956,000) Standardized measure of discounted future net cash flows $ 24,090,000 $ 3,788,000 $ 27,878,000 Year ended September 30, 2021 Canada United States Total Future cash inflows $ 36,130,000 $ — $ 36,130,000 Future production costs (25,323,000) — (25,323,000) Future development costs (240,000) — (240,000) Future income tax expenses (995,000) — (995,000) Future net cash flows excluding abandonment, decommissioning and reclamation 9,572,000 — 9,572,000 Future abandonment, decommissioning and reclamation (14,525,000) — (14,525,000) Future net cash flows (4,953,000) — (4,953,000) 10% annual discount for timing of cash flows 7,598,000 — 7,598,000 Standardized measure of discounted future net cash flows $ 2,645,000 $ — $ 2,645,000
Schedule of changes in standardized measure of discounted future net cash flows	Year ended September 30, 2022 2021 Beginning of year $ 2,645,000 $ (1,685,000) Sales of oil and natural gas produced, net of production costs (13,142,000) (3,604,000) Net changes in prices and production costs, net of royalties and wellhead taxes 27,828,000 5,702,000 Extensions and discoveries 8,889,000 — Net change due to purchases and sales of minerals in place 2,451,000 (882,000) Revisions of previous quantity estimates 4,270,000 4,217,000 Net change in income taxes (4,774,000) (845,000) Accretion of discount (1,566,000) (176,000) Other - changes in the timing of future production and other 801,000 (55,000) Other - net change in Canadian dollar translation rate 476,000 (27,000) Net change 25,233,000 4,330,000 End of year $ 27,878,000 $ 2,645,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($) segment
Principles of Consolidation
Number of operating segments | segment	3
Retirement Plans
Increase (decrease) pension expense | $	$ 56
Measurement input, discount rate
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Discount rate	0.10
Minimum
Equity Method Investments
Ownership interest in affiliated companies required to account for investments under equity method investments (more than)	3%
Maximum
Equity Method Investments
Ownership interest in affiliated companies required to account for investments under equity method investments (more than)	5%
Retirement Plans
Decrease (increase) in the expected return on plan assets assumption	0.50%
Kaupulehu Developments
Principles of Consolidation
Ownership interest in subsidiaries	77.60%
KD Kona 2013 LLLP
Principles of Consolidation
Ownership interest in subsidiaries	75%

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net Earnings (Numerator)
Basic	$ 5,513	$ 6,253
Diluted	$ 5,513	$ 6,253
Shares (Denominator)
Basic (in shares)	9,732,936	8,592,154
Effect of dilutive securities-common stock options (in shares)	0	0
Diluted (in shares)	9,732,936	8,592,154
Per-Share Amount
Basic net earnings per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.57	$ 0.73
Diluted net earnings per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	$ 0.57	$ 0.73
Options
Antidilutive shares of common stock excluded from the computation of diluted shares
Antidilutive shares excluded from computation of earnings per share (in shares)	615,000	615,000

INVESTMENTS - INVESTMENT IN KUK

INVESTMENTS - INVESTMENT IN KUKIO RESORT LAND DEVELOPMENT PARTNERSHIP (Details) $ in Thousands		12 Months Ended
	Nov. 27, 2013 USD ($) partnership	Sep. 30, 2022 USD ($) lot	Sep. 30, 2021 USD ($)	Sep. 30, 2017 a lot	Sep. 30, 2016 lot	Mar. 31, 2022 lot	Jun. 30, 2021 USD ($)	Mar. 07, 2019
Investment Holdings [Line Items]
Equity in income of affiliates		$ 3,400	$ 5,793
Investments in land development partnerships
Investment Holdings [Line Items]
Number of limited liability limited partnerships formed | partnership	2
Cumulative cash distributions from Kukio Resort land development partnerships, made to date		45,000
Cumulative cash distributions from Kukio Resort land development partnerships, partial payment preferred return			459
Cumulative cash distributions from Kukio Resort land development Partnerships, preferred return		656
Cash distribution from equity method investment, gross		3,400
Cash distribution from equity method investment, net		3,028	6,011
Equity in income of affiliates		3,400	5,793
Investment in Kukio Resort Land Development Partnerships							$ 0
Cumulative cash distributions from Kukio Resort Land Development Partnerships in excess of our investment balance		$ 958	654
KD Kukio Resorts LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Kaupulehu, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
KD Maniniowali, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	19.60%
Indirectly Acquired Interest | Investments in land development partnerships
Investment Holdings [Line Items]
Aggregate cost	$ 5,140
KD Acquisition, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		19.60%
KD Kona 2013 LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	75%
KKM Makai LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired	34.45%
KD Kaupulehu LLLP Increment I | Investments in land development partnerships
Investment Holdings [Line Items]
Number of residential lots remaining to be sold | lot		2				2
Number of large residential lots remaining to be sold | lot		1
Number of original size residential lots remaining to be sold | lot		1
KD Kaupulehu, LLLP | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired								55%
Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Number of lots developed | a				2
Number of single family lots sold | lot				1	1
Replay | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired								45%
Barnwell Industries Inc | KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired		10.80%
Non-controlling Interests | Investments in land development partnerships
Investment Holdings [Line Items]
Cash distribution from equity method investment, net		$ 372	$ 683
Minimum | Investments in land development partnerships
Investment Holdings [Line Items]
Cumulative cash distributions from Kukio Resort Land Development Partnerships, threshold	$ 45,000
Minimum | Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Increment II lot size | a				2
Maximum | Kaupulehu Developments | KD Kaupulehu LLLP Increment II
Investment Holdings [Line Items]
Increment II lot size | a				3

INVESTMENTS - SUMMARIZED FINANC

INVESTMENTS - SUMMARIZED FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Investment Holdings [Line Items]
Revenues	$ 28,545	$ 18,113
Net earnings	6,172	7,203
Investments in land development partnerships
Investment Holdings [Line Items]
Revenues	24,577	43,013
Gross Profit	16,934	24,759
Net earnings	$ 13,763	$ 20,612

INVESTMENTS - SALE OF INTEREST

INVESTMENTS - SALE OF INTEREST IN LEASEHOLD LAND (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2022 USD ($) lot	Sep. 30, 2022 USD ($) lot	Sep. 30, 2021 USD ($)	Mar. 07, 2019 USD ($) singleFamilyResidentialLot day
Kaupulehu Developments
Investment Holdings [Line Items]
Revenues - sale of interest in leasehold land | $		$ 1,295	$ 1,738
KD Acquisition II, LP | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, percentage of distributions				15%
Collaborative agreement, percentage of cumulative net profits, priority payment				10%
Collaborative agreement, percentage of cumulative net profits, priority payment, maximum amount | $				$ 3,000
KD Acquisition II, LP | KD Kaupulehu, LLLP | Investments in land development partnerships
Investment Holdings [Line Items]
Ownership interest acquired				55%
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		2
Number of lots developed		80
KD Kaupulehu LLLP Increment I | Kaupulehu Developments | Subsequent Event
Investment Holdings [Line Items]
Number of single family lots sold	1
Revenues - sale of interest in leasehold land | $	$ 265
KD Kaupulehu LLLP Increment II Phase 2A | Investments in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to | singleFamilyResidentialLot				3
KD Kaupulehu LLLP Increment II Phase 2A, lots completed subsequent to Phase 2A | Investments in land development partnerships
Investment Holdings [Line Items]
Number of single family lots, rights to | singleFamilyResidentialLot				4
Collaborative agreement, commitment to construct improvements term | day				90
KD Development, LLC | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits				0.72%
Pool Of Various Individuals | Investments in land development partnerships
Investment Holdings [Line Items]
Collaborative agreement, fees, percentage of cumulative net profits				0.20%
Aggregate gross proceeds greater than $100,000,000 up to $300,000,000 | KD Kaupulehu LLLP Increment I | Kaupulehu Developments
Investment Holdings [Line Items]
Payments entitled to be received as percentage of gross proceeds from sale of single family lots		10%

INVESTMENTS - SUMMARY OF REVENU

INVESTMENTS - SUMMARY OF REVENUES (Details) - Kaupulehu Developments - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Investment Holdings [Line Items]
Revenues - sale of interest in leasehold land	$ 1,295	$ 1,738
Fees - included in general and administrative expenses	(158)	(212)
Sale of interest in leasehold land, net of fees paid	$ 1,137	$ 1,526

INVESTMENTS - INVESTMENTS IN LE

INVESTMENTS - INVESTMENTS IN LEASEHOLD LAND INTERESTS - LOT 4C (Details) a in Thousands	Sep. 30, 2022 a
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) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Sep. 30, 2022
Variable Interest Entity [Line Items]
Percentage of capital contributions to variable interest entity		100%
Capital contributions made to variable interest entity		$ 1,250
Cash distribution from variable interest entity, net		$ 2,058
Subsequent Event
Variable Interest Entity [Line Items]
Cash distribution from variable interest entity, net	$ 711
Gros Ventre Partners, LLC
Variable Interest Entity [Line Items]
Profit sharing ratio of variable interest entity		2%
Asset management fee, percent fee of cumulative capital contributions		1%
BOK Drilling, LLC
Variable Interest Entity [Line Items]
Profit sharing ratio of variable interest entity		98%

CONSOLIDATED VARIABLE INTERES_4

CONSOLIDATED VARIABLE INTEREST ENTITY - CARRYING VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
ASSETS
Cash and cash equivalents	$ 12,804	$ 11,279
Accounts and other receivables	4,361	3,069
Unproved properties	0	962
Total assets	37,215	24,435
Liabilities [Abstract]
Accounts payable	1,462	1,416
Accrued capital expenditures	1,655	909
Accrued operating and other expenses	1,576	1,171
Total liabilities	18,054	14,928
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents	623	136
Accounts and other receivables	606	118
Proved properties, net	655	203
Unproved properties	0	962
Total assets	1,884	1,419
Liabilities [Abstract]
Accounts payable	15	3
Accrued capital expenditures	0	581
Accrued operating and other expenses	26	20
Total liabilities	$ 41	$ 604

ASSET HELD FOR SALE (Details)

ASSET HELD FOR SALE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Long Lived Assets Held-for-sale [Line Items]
Aggregate carrying value, net	$ 369		$ 369	$ 490
Proceeds recorded as other current liabilities			551	0
Drilling rigs and equipment
Long Lived Assets Held-for-sale [Line Items]
Aggregate carrying value, net	361		$ 361	484
Proceeds recorded as other current liabilities	$ 551
Drilling rigs and equipment | Subsequent Event | Forecast
Long Lived Assets Held-for-sale [Line Items]
Gain on sale of drilling rig		$ 551
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 asset				$ 687

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended	12 Months Ended
	Jan. 31, 2022	Jul. 30, 2021	Apr. 30, 2021	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Oil and Natural Gas Properties [Line Items]
Payments to acquire oil and natural gas properties					$ 1,563	$ 348
Asset retirement obligation assumed					1,682	532
Proceeds from sale of oil and natural gas assets					503	581
Income taxes receivable					0	530
Gain on sale of oil and natural gas properties					0	818
Liabilities associated with properties sold					483	375
Impairment of assets					89	668
Oil and natural gas
Oil and Natural Gas Properties [Line Items]
Impairment of assets					$ 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		$ 348	$ 317
Asset retirement obligation assumed	$ 1,500
Barnwell Industries Inc | Hillsdown, Alberta, Canada
Oil and Natural Gas Properties [Line Items]
Proceeds from sale of oil and natural gas assets			132
Income taxes receivable			$ 72
Barnwell Industries Inc | Spirit River, Alberta Canada
Oil and Natural Gas Properties [Line Items]
Proceeds from sale of oil and natural gas assets		$ 1,047
Percent difference in capitalized costs divided by proved reserves if the gain is recorded as opposed to being credited against the full-cost pool		93%
Gain on sale of oil and natural gas properties						818
Barnwell Industries Inc | Spirit River, Alberta Canada | Asset Purchase and Sale Agreement
Oil and Natural Gas Properties [Line Items]
Liabilities associated with properties sold						$ 77

PROPERTY AND EQUIPMENT AND AS_3

PROPERTY AND EQUIPMENT AND ASSET RETIREMENT OBLIGATION (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Aug. 31, 2023	Jan. 31, 2022	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Property and equipment
Proved Properties, Net Property and Equipment				$ 13,232	$ 2,423
Unproved Properties, Net Property and Equipment				0	962
Net drilling rigs and other property and equipment				369	490
Total Gross Property and Equipment				74,806	67,412
Total Accumulated Depletion, Depreciation, Amortization, and Impairment				(61,205)	(63,537)
Total Net Property and Equipment				13,601	3,875
Oil and natural gas properties, full cost method of accounting:
Unproved properties				0	962
Accumulated depletion, depreciation, and impairment				(54,651)	(56,067)
Total oil and natural gas properties, net				13,232	3,385
Gain on sale of corporate office				0	1,982
Change in the asset retirement obligation
Balance at the beginning of the year				7,053	6,194
Obligations incurred on new wells drilled or acquired				1,682	532
Liabilities associated with properties sold				(483)	(375)
Revision of estimated obligation				1,021	279
Accretion expense				767	580
Payments				(942)	(421)
Foreign currency translation adjustment				(642)	264
Balance at the end of the year				8,456	7,053
Less current portion				(1,327)	(713)
Asset retirement obligation, long-term				7,129	6,340
Abandonment and reclamation cost, cash deposit			$ 888		1,525
Increase (decrease) in asset retirement obligation					213
Abandonment and reclamation cost, cumulative cash deposit reduction				$ (113)
Twining, Alberta, Canada | Barnwell Industries Inc
Change in the asset retirement obligation
Obligations incurred on new wells drilled or acquired		$ 1,500
Forecast
Change in the asset retirement obligation
Abandonment and reclamation cost, cash deposit	$ 637
Minimum
Change in the asset retirement obligation
Discount rate for ARO				6%
Maximum
Change in the asset retirement obligation
Discount rate for ARO				13.50%
Oil and natural gas properties
Property and equipment
Proved Properties, Gross Property and Equipment				$ 67,883	58,490
Proved Properties, Accumulated Depletion, Depreciation, Amortization, and Impairment				(54,651)	(56,067)
Proved Properties, Net Property and Equipment				13,232	2,423
Unproved Properties, Gross Property and Equipment				0	962
Unproved Properties, Accumulated Depletion, Depreciation, Amortization, and Impairment				0	0
Unproved Properties, Net Property and Equipment				0	962
Oil and natural gas properties, full cost method of accounting:
Proved Properties				67,883	58,490
Total oil and natural gas properties, gross				67,883	59,452
Total oil and natural gas properties, net				13,232	3,385
Change in the asset retirement obligation
Oil and Gas Property, Full Cost Method, Depletion				(54,651)	(56,067)
Drilling rigs and equipment
Property and equipment
Gross Property and Equipment				6,304	7,273
Accumulated Depletion, Depreciation, Amortization, and Impairment				(5,943)	(6,789)
Net drilling rigs and other property and equipment				$ 361	$ 484
Drilling rigs and equipment | Minimum
Property and equipment
Estimated useful lives				3 years	3 years
Drilling rigs and equipment | Maximum
Property and equipment
Estimated useful lives				10 years	10 years
Other property and equipment
Property and equipment
Gross Property and Equipment				$ 619	$ 687
Accumulated Depletion, Depreciation, Amortization, and Impairment				(611)	(681)
Net drilling rigs and other property and equipment				$ 8	$ 6
Other property and equipment | Minimum
Property and equipment
Estimated useful lives				3 years	3 years
Other property and equipment | Maximum
Property and equipment
Estimated useful lives				10 years	10 years
Office
Oil and natural gas properties, full cost method of accounting:
Gain on sale of corporate office					$ 1,164
Proceeds from sale of corporate office					$ 1,864

RETIREMENT PLANS - NARRATIVE (D

RETIREMENT PLANS - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Retirement plans
Gain on termination of post-retirement medical plan	$ 0	$ 2,341
Pension Plan
Retirement plans
Period of employee's highest average earnings on which benefits are based	5 years
Expected future contributions	$ 0
Accumulated benefit obligation	7,931	10,365
SERP
Retirement plans
Accumulated benefit obligation	$ 1,715	2,136
Post-retirement Medical
Retirement plans
Minimum period of service to be attained for being covered under the plan	20 years
Minimum period of service to be attained at the position of Vice President or higher for being covered under the plan	10 years
Gain on termination of post-retirement medical plan		$ 2,341

RETIREMENT PLANS - CHANGES IN B

RETIREMENT PLANS - CHANGES IN BENEFIT OBLIGATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Change in Plan Assets:
Fair value of plan assets at beginning of year	$ 12,594
Fair value of plan assets at end of year	11,316	$ 12,594
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	3,385	2,229
Noncurrent liabilities	(1,649)	(2,101)
Pension Plan
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	10,365	10,280
Interest cost	290	258
Actuarial (gain) loss	(2,418)	(15)
Benefits paid	(306)	(158)
Termination of post-retirement medical plan	0	0
Benefit obligation at end of year	7,931	10,365
Change in Plan Assets:
Fair value of plan assets at beginning of year	12,594	11,051
Actual return on plan assets	(972)	1,701
Employer contributions	0	0
Benefits paid	(306)	(158)
Fair value of plan assets at end of year	11,316	12,594
Funded status	3,385	2,229
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	3,385	2,229
Current liabilities	0	0
Noncurrent liabilities	0	0
Net amount	3,385	2,229
Amounts recognized in accumulated other comprehensive income before income taxes:
Net actuarial (gain) loss	(353)	471
Accumulated other comprehensive (income) loss	(353)	471
SERP
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	2,136	2,031
Interest cost	60	51
Actuarial (gain) loss	(478)	63
Benefits paid	(3)	(9)
Termination of post-retirement medical plan	0	0
Benefit obligation at end of year	1,715	2,136
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	0	0
Benefits paid	0	0
Fair value of plan assets at end of year	0	0
Funded status	(1,715)	(2,136)
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	0	0
Current liabilities	(66)	(35)
Noncurrent liabilities	(1,649)	(2,101)
Net amount	(1,715)	(2,136)
Amounts recognized in accumulated other comprehensive income before income taxes:
Net actuarial (gain) loss	(343)	135
Accumulated other comprehensive (income) loss	(343)	135
Post-retirement Medical
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	0	2,839
Interest cost	0	48
Actuarial (gain) loss	0	0
Benefits paid	0	(5)
Termination of post-retirement medical plan	0	(2,882)
Benefit obligation at end of year	0	0
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	0	5
Benefits paid	0	(5)
Fair value of plan assets at end of year	0	0
Funded status	0	0
Amounts recognized in the Consolidated Balance Sheets:
Noncurrent assets	0	0
Current liabilities	0	0
Noncurrent liabilities	0	0
Net amount	0	0
Amounts recognized in accumulated other comprehensive income before income taxes:
Net actuarial (gain) loss	0	0
Accumulated other comprehensive (income) loss	$ 0	$ 0

RETIREMENT PLANS - WEIGHTED AVE

RETIREMENT PLANS - WEIGHTED AVEARAGE BENEFIT OBLIGATIONS AND NET BENEFIT (INCOME) COST (Details)	1 Months Ended	12 Months Ended
	May 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Pension Plan
Assumptions used to determine fiscal year-end benefit obligations:
Discount rate		5.25%	2.84%
Assumptions used to determine net benefit costs (years ended):
Discount rate		2.84%	2.54%
Expected return on plan assets		5%	5%
SERP
Assumptions used to determine fiscal year-end benefit obligations:
Discount rate		5.25%	2.84%
Assumptions used to determine net benefit costs (years ended):
Discount rate		2.84%	2.54%
Post-retirement Medical
Assumptions used to determine net benefit costs (years ended):
Discount rate	3%			2.54%

RETIREMENT PLANS - NET PERIODIC

RETIREMENT PLANS - NET PERIODIC BENEFIT (INCOME) COST (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Pension Plan
Net periodic benefit (income) cost for the year:
Interest cost	$ 290	$ 258
Expected return on plan assets	(622)	(546)
Amortization of net actuarial loss	0	39
Net periodic benefit (income) cost	(332)	(249)
SERP
Net periodic benefit (income) cost for the year:
Interest cost	60	51
Expected return on plan assets	0	0
Amortization of net actuarial loss	0	0
Net periodic benefit (income) cost	60	51
Post-retirement Medical
Net periodic benefit (income) cost for the year:
Interest cost	0	48
Expected return on plan assets	0	0
Amortization of net actuarial loss	0	62
Net periodic benefit (income) cost	$ 0	$ 110

RETIREMENT PLANS - EXPECTED BEN

RETIREMENT PLANS - EXPECTED BENEFIT PAYMENTS (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Pension Plan
Expected Benefit Payments:
Fiscal year ending September 30, 2023	$ 412
Fiscal year ending September 30, 2024	552
Fiscal year ending September 30, 2025	545
Fiscal year ending September 30, 2026	537
Fiscal year ending September 30, 2027	529
Fiscal years ending September 30, 2028 through 2032	2,969
SERP
Expected Benefit Payments:
Fiscal year ending September 30, 2023	66
Fiscal year ending September 30, 2024	130
Fiscal year ending September 30, 2025	129
Fiscal year ending September 30, 2026	128
Fiscal year ending September 30, 2027	127
Fiscal years ending September 30, 2028 through 2032	$ 667

RETIREMENT PLANS - ASSET CATERG

RETIREMENT PLANS - ASSET CATERGORY ALLOCATION (Details)	Sep. 30, 2022	Sep. 30, 2021
Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	14%	0%
Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	34%	31%
Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Actual asset allocation	52%	69%
Minimum | Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	0%
Minimum | Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	15%
Minimum | Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	45%
Maximum | Cash and other
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	25%
Maximum | Fixed income securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	40%
Maximum | Equity securities
Entity's year-end target allocation, by asset category, and the actual asset allocations
Target allocation	75%

RETIREMENT PLANS - FAIR VALUE (

RETIREMENT PLANS - FAIR VALUE (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Pension plan assets at the fair value
Fair value measurements	$ 11,316	$ 12,594
Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	11,316	12,594
Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Cash
Pension plan assets at the fair value
Fair value measurements	1,539	25
Cash | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	1,539	25
Cash | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Cash | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Corporate bonds
Pension plan assets at the fair value
Fair value measurements	1	1
Corporate bonds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	1	1
Corporate bonds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Corporate bonds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
U.S. treasury and government securities
Pension plan assets at the fair value
Fair value measurements	561
U.S. treasury and government securities | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	561
U.S. treasury and government securities | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0
U.S. treasury and government securities | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0
Fixed income exchange-traded funds
Pension plan assets at the fair value
Fair value measurements	3,223	3,809
Fixed income exchange-traded funds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	3,223	3,809
Fixed income exchange-traded funds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Fixed income exchange-traded funds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Preferred securities
Pension plan assets at the fair value
Fair value measurements	67	48
Preferred securities | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	67	48
Preferred securities | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Preferred securities | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Equity securities exchange-traded funds
Pension plan assets at the fair value
Fair value measurements	408	459
Equity securities exchange-traded funds | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	408	459
Equity securities exchange-traded funds | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Equity securities exchange-traded funds | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	0	0
Equities
Pension plan assets at the fair value
Fair value measurements	5,517	8,252
Equities | Quoted Prices in Active Markets (Level 1)
Pension plan assets at the fair value
Fair value measurements	5,517	8,252
Equities | Significant Other Observable Inputs (Level 2)
Pension plan assets at the fair value
Fair value measurements	0	0
Equities | Significant Unobservable Inputs (Level 3)
Pension plan assets at the fair value
Fair value measurements	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests
United States	$ 739,000	$ 5,436,000
Canada	5,121,000	1,149,000
Total	5,860,000	6,585,000
Current provision (benefit): United States - Federal
Before operating loss carryforwards	727,000	60,000
Benefit of operating loss carryforwards	(665,000)	(60,000)
After operating loss carryforwards	62,000	0
Current provision (benefit): United States - State
Before operating loss carryforwards	518,000	174,000
Benefit of operating loss carryforwards	(62,000)	(7,000)
After operating loss carryforwards	456,000	167,000
Current provision (benefit): Canadian
Before operating loss carryforwards	510,000	0
Benefit of operating loss carryforwards	(510,000)	0
After operating loss carryforwards	0	0
Total current	518,000	167,000
Deferred (benefit) provision:
United States – State	(171,000)	165,000
Canadian	0	0
Total deferred	(171,000)	165,000
Total	347,000	332,000
Income Tax Uncertainties [Abstract]
Income tax penalties and interest expense	$ 62,000
Reconciliation between the reported income tax provision (benefit) and the amount computed by multiplying the earnings (loss) attributable to the entity by the U.S. federal tax rate
U.S. federal tax rate	21%
Tax provision computed by applying statutory rate	$ 1,231,000	1,383,000
Decrease in the valuation allowance	(1,450,000)	(1,427,000)
Additional effect of the foreign tax provision on the total tax provision	130,000	31,000
Uncertain tax positions	62,000	0
U.S. state tax provision, net of federal benefit	285,000	332,000
Other	89,000	13,000
Total	347,000	332,000
Deferred income tax assets:
Foreign tax credit carryover under U.S. tax law	953,000	1,197,000
U.S. federal net operating loss carryover	8,258,000	8,846,000
U.S. state unitary net operating loss carryovers	1,117,000	939,000
Canadian net operating loss carryovers	877,000	1,411,000
Tax basis of investment in land in excess of book basis under U.S. tax law	26,000	305,000
Property and equipment accumulated book depreciation and depletion in excess of tax under Canadian tax law	0	1,091,000
Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law	568,000	699,000
Liabilities accrued for books but not for tax under U.S. tax law	882,000	1,225,000
Liabilities accrued for books but not for tax under Canadian tax law	2,120,000	1,813,000
Foreign currency loss under U.S. tax law	102,000	0
Foreign currency loss under Canadian tax law	124,000	0
Other	278,000	442,000
Total gross deferred income tax assets	15,305,000	17,968,000
Less Valuation allowance	(12,608,000)	(14,616,000)
Net deferred income tax assets	2,697,000	3,352,000
Deferred income tax liabilities:
Property and equipment accumulated tax depreciation and depletion in excess of book under Canadian tax law	(280,000)	0
Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law	(545,000)	(1,156,000)
Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law	(166,000)	(352,000)
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law	(121,000)	(142,000)
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law	(23,000)	(7,000)
U.S. tax law impact of foreign branch deferred tax asset under Canadian tax law	(1,465,000)	(1,782,000)
Other	(285,000)	(272,000)
Total deferred income tax liabilities	(2,885,000)	(3,711,000)
Net deferred income tax liability	(188,000)	(359,000)
Net deferred income tax liability included in Consolidated Balance Sheets:
Deferred income tax assets	0	0
Deferred income tax liabilities	(188,000)	(359,000)
Net deferred income tax liability	(188,000)	(359,000)
Valuation allowance, other disclosures
Decrease in valuation allowance	(2,008,000)
Income tax (benefit) expense recognized in valuation allowance change	(1,614,000)
Change in valuation allowance charged to accumulated other comprehensive loss	(394,000)
Changes in unrecognized tax benefits
Balance at the beginning of year	0	0
Effect of tax positions taken in prior years	60,000	0
Accrued interest related to tax positions taken	2,000	0
Balance at the end of year	62,000	$ 0
Federal
Tax carryovers
Tax credit carryovers	953,000
Operating loss carryovers	39,327,000
State and Local Jurisdiction
Tax carryovers
Operating loss carryovers	17,452,000
Foreign
Tax carryovers
Operating loss carryovers	$ 3,411,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 28,527	$ 18,105
United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	9,340	7,700
Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	19,187	10,405
Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	15,747	7,617
Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,527	1,871
Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	2,307	766
Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,295	1,738
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	111	304
Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	22,581	10,254
Oil and natural gas | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	3,496	118
Oil and natural gas | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	19,085	10,136
Oil and natural gas | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	15,747	7,617
Oil and natural gas | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,527	1,871
Oil and natural gas | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	2,307	766
Oil and natural gas | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Oil and natural gas | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Oil and natural gas | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Contract drilling | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Contract drilling | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Contract drilling | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Contract drilling | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,295	1,738
Land investment | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,295	1,738
Land investment | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Land investment | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,295	1,738
Land investment | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	111	304
Other | United States
Disaggregation of Revenue [Line Items]
Revenue before interest income	9	35
Other | Canada
Disaggregation of Revenue [Line Items]
Revenue before interest income	102	269
Other | Oil
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Drilling and pump
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Contingent residual payments
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	111	304
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue before interest income	23,987	12,296
Goods transferred at a point in time | Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	22,581	10,254
Goods transferred at a point in time | Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Goods transferred at a point in time | Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	1,295	1,738
Goods transferred at a point in time | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	111	304
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Services transferred over time | Oil and natural gas
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Services transferred over time | Contract drilling
Disaggregation of Revenue [Line Items]
Revenue before interest income	4,540	5,809
Services transferred over time | Land investment
Disaggregation of Revenue [Line Items]
Revenue before interest income	0	0
Services transferred over time | Other
Disaggregation of Revenue [Line Items]
Revenue before interest income	$ 0	$ 0

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS -CONTRACT BALANCES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivables from contracts with customers	$ 4,038	$ 2,797
Contract assets	580	581
Contract liabilities	$ 1,087	$ 455

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Contract with customer, liability, current	$ 1,087	$ 455
Contract with customer, liability, revenue recognized	394	1,013
Revenue, remaining performance obligation (backlog)	$ 4,890
Percentage anticipated to be recognized in next 12 months	71%
Capitalized contract cost net, preconstruction	$ 689	326
Capitalized contract cost, amortization of preconstruction	296	224
Capitalized contract cost, impairment loss	$ 0	$ 0
Minimum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	5%
Maximum
Disaggregation of Revenue [Line Items]
Contract receivable retainage percentage	10%

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS - UNINSTALLED MATERIALS (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Uninstalled materials	$ 351	$ 226

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Revenue before interest income	$ 28,527,000	$ 18,105,000
Interest income	18,000	8,000
Total revenues	28,545,000	18,113,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	2,778,000	963,000
Impairment:
Impairment of assets	89,000	668,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	11,630,000	6,345,000
Equity in income (loss) of affiliates:
Equity in income of affiliates	3,400,000	5,793,000
General and administrative expenses	(8,044,000)	(7,088,000)
Foreign currency loss	(484,000)	0
Interest expense	(1,000)	(13,000)
Interest income	18,000	8,000
Gain on debt extinguishment	0	149,000
Gain on termination of post-retirement medical plan	0	2,341,000
Earnings before income taxes	6,519,000	7,535,000
Capital Expenditures:
Capital Expenditure	13,805,000	3,091,000
Assets By Segment:
Total assets	37,215,000	24,435,000
Corporate and other
Capital Expenditures:
Capital Expenditure	5,000	1,000
Assets By Segment:
Total assets	3,674,000	2,684,000
Corporate and other | Cash and other
Assets By Segment:
Total assets	12,804,000	11,279,000
Intersegment eliminations
Revenues:
Total revenues	0	0
Oil and natural gas
Revenues:
Revenue before interest income	22,581,000	10,254,000
Total revenues	22,581,000	10,254,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	2,606,000	645,000
Impairment:
Impairment of assets	0	630,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	10,536,000	2,423,000
Oil and natural gas | Operating segments
Capital Expenditures:
Capital Expenditure	13,755,000	3,028,000
Assets By Segment:
Total assets	17,477,000	6,401,000
Land investment
Revenues:
Revenue before interest income	1,295,000	1,738,000
Total revenues	1,295,000	1,738,000
Impairment:
Impairment of assets	89,000	0
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	1,206,000	1,738,000
Contract drilling
Revenues:
Revenue before interest income	4,540,000	5,809,000
Total revenues	4,540,000	5,809,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	171,000	305,000
Impairment:
Impairment of assets	0	38,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	(222,000)	(89,000)
Contract drilling | Operating segments
Capital Expenditures:
Capital Expenditure	45,000	62,000
Assets By Segment:
Total assets	3,260,000	4,071,000
Other
Revenues:
Revenue before interest income	111,000	304,000
Total revenues	129,000	312,000
Depletion, depreciation, and amortization:
Depletion, depreciation, and amortization	1,000	13,000
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	110,000	291,000
Gain on sale of assets
Operating profit (loss) (before general and administrative expenses):
Operating profit (loss) (before general and administrative expenses)	$ 0	$ 1,982,000

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION - GEOGRAPHIC AREAS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Geographic information
Long-lived assets	$ 17,118	$ 6,400
Total (excluding interest income)	28,527	18,105
United States
Geographic information
Long-lived assets	4,540	4,180
Total (excluding interest income)	9,340	7,700
Canada
Geographic information
Long-lived assets	12,578	2,220
Total (excluding interest income)	$ 19,187	$ 10,405

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Foreign currency translation:
Balance at beginning of period	$ 262	$ 545
Change in cumulative translation adjustment before reclassifications	(40)	(283)
Foreign currency translation adjustments, taxes	0	0
Net current period other comprehensive loss	(40)	(283)
Balance at end of the period	222	262
Retirement plans:
Balance at beginning of period	(230)	(1,980)
Amortization of net actuarial loss	0	101
Net actuarial gain arising during the period	1,302	1,108
Gain on termination of post-retirement medical plan	0	541
Amortization of accumulated other comprehensive loss into net periodic benefit costs, taxes	0	0
Net current period other comprehensive income	1,302	1,750
Balance at end of the period	1,072	(230)
Accumulated other comprehensive income, net	$ 1,294	$ 32

DEBT (Details)

DEBT (Details) $ in Thousands, $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 28, 2020 USD ($)	Mar. 31, 2021 CAD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 CAD ($)	Dec. 31, 2020 CAD ($)
Debt Instrument [Line Items]
Gain on debt extinguishment			$ 0		$ 149
Paycheck Protection Program Loan
Debt Instrument [Line Items]
Debt face amount	$ 147
Debt term	2 years
Interest rate	1%
Gain on debt extinguishment					$ 149
Canada Emergency Business Account Loan
Debt Instrument [Line Items]
Debt face amount			$ 44			$ 60	$ 40
Debt instrument, net increase		$ 20
Debt term			2 years	2 years
Interest rate			5%			5%
Percentage of loan to be repaid for debt forgiveness			66.70%	66.70%
Percentage of debt forgiveness			33.30%	33.30%
Canada Emergency Business Account Loan | Maximum
Debt Instrument [Line Items]
Maximum amount of loan forgiveness				$ 20

LEASES - NARRATIVE (Details)

LEASES - NARRATIVE (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Right-of-use asset impairment	$ 89

LEASES - ASSETS AND LIABILITIES

LEASES - ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 132	$ 296
Total right-of-use assets	132	296
Current portion of operating lease liabilities	105	117
Operating lease liabilities	117	180
Lease Liability	$ 222	$ 297
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities

LEASES - LEASE COSTS (Details)

LEASES - LEASE COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease cost	$ 108	$ 130
Short-term lease cost	327	254
Variable lease, cost	154	103
Total lease cost	$ 589	$ 487

LEASES - SUPPLEMENTAL LEASE INF

LEASES - SUPPLEMENTAL LEASE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Cash paid related to operating lease liabilities	$ 108	$ 133
Operating lease, weighted average remaining lease term (in years)	2 years 4 months 24 days	2 years 10 months 24 days
Operating lease, weighted average discount rate	5.30%	5.19%

LEASES - OPEARTING LEASE MATURI

LEASES - OPEARTING LEASE MATURITY SCHEDULE (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 113
2024	75
2025	41
2026	8
2027	0
Thereafter through 2028	0
Total lease payments	237
Less: amounts representing interest	(15)
Operating lease liabilities	$ 222

STOCKHOLDERS' EQUITY - SHARE-BA

STOCKHOLDERS' EQUITY - SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 09, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation arrangement by share-based payment award [Line Items]
Common stock, authorized shares (in shares)		40,000,000	20,000,000
Number of shares granted (in shares)	665,000
Share-based compensation expense		$ 657	$ 643
Income tax effect related to share-based compensation expense		0	$ 0
Total unrecognized compensation cost		$ 348
Period over which unrecognized compensation cost is expected to be recognized		1 year 4 months 24 days
Dividends declared, cash paid per share		$ 0.015
Share-based Payment Arrangement, Tranche One
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	605,000
Shares exercise price	$ 3.33
Shares vesting period	3 years
Shares expiration period	10 years
Share-based Payment Arrangement, Tranche Two
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	60,000
Shares exercise price	$ 3.66
Shares vesting period	3 years
Shares expiration period	5 years
Share-based Payment Arrangement, Independent Director
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	310,000
Share-based Payment Arrangement, Employee
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	355,000
2018 Equity Incentive Plan
Share-based compensation arrangement by share-based payment award [Line Items]
Shares authorized and reserved for issuance (in shares)		1,600,000	800,000
Number of shares available for grant (in shares)		935,000

STOCKHOLDERS' EQUITY - EQUITY-C

STOCKHOLDERS' EQUITY - EQUITY-CLASSIFIED AWARDS (Details) - USD ($)		12 Months Ended
	Feb. 09, 2021	Sep. 30, 2022
Shares
Granted (in shares)	665,000
Equity-classified share options
Shares
Outstanding at the beginning of the period (in shares)		615,000
Granted (in shares)		0
Exercised (in shares)		0
Expired/Forfeited (in shares)		0
Outstanding at the end of the period (in shares)		615,000
Exercisable at the end of period (in shares)		205,000
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$ 3.36
Granted (in dollars per share)		0
Exercised (in dollars per share)		0
Expired/Forfeited (in dollars per share)		0
Outstanding at the end of the period (in dollars per share)		3.36
Exercisable at the end of period (in dollars per share)		$ 3.36
Weighted-Average Remaining Contractual Term
Options outstanding, weighted average remaining contractual life		7 years 10 months 24 days
Options exercisable, weighted average contractual life		7 years 10 months 24 days
Aggregate Intrinsic Value
Options outstanding, aggregate intrinsic value		$ 0
Options exercisable, aggregate intrinsic value		$ 0

STOCKHOLDERS' EQUITY - ESTIMATE

STOCKHOLDERS' EQUITY - ESTIMATED FAIR VALUE OF EQUITY-CLASSIFIED AWARDS (Details) - $ / shares		12 Months Ended
	Feb. 09, 2021	Sep. 30, 2022
Share-based compensation
Number of shares granted (in shares)	665,000
Equity-classified share options
Share-based compensation
Number of shares granted (in shares)		0
Equity-classified share options | Share-based Payment Arrangement, >10% Owner-Employee
Share-based compensation
Number of shares granted (in shares)		60,000
Expected volatility		127.40%
Expected dividends		0%
Expected term		3 years 6 months
Risk-free interest rate		0.19%
Expected forfeitures		0%
Fair value per share (in dollars per share)		$ 2.51
Equity-classified share options | Share-based Payment Arrangement, Others
Share-based compensation
Number of shares granted (in shares)		605,000
Expected volatility		105.80%
Expected dividends		0%
Expected term		6 years
Risk-free interest rate		0.82%
Expected forfeitures		0%
Fair value per share (in dollars per share)		$ 2.70

STOCKHOLDERS' EQUITY - AT THE M

STOCKHOLDERS' EQUITY - AT THE MARKET OFFERING (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended		24 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Mar. 16, 2021
Sale of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.50		$ 0.50
At The Market Offering
Sale of Stock [Line Items]
Common stock, par value (in dollars per share)				$ 0.50
Sale of stock, maximum aggregate sales price	$ 25,000		$ 25,000
Common shares sold (in shares)	509,467	1,167,987
Proceeds from sale of common stock	$ 2,356	$ 3,179	$ 5,535
At The Market Offering | Commissions And Fees
Sale of Stock [Line Items]
Stock issuance costs, commissions, fees, and ATM-related professional services	75	123
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	$ 605

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2022	Mar. 07, 2019
Commitments and contingencies
Amounts accrued under the incentive compensation plan	$ 381
Additional gross proceeds to be raised by other parties under the private placement offering	3,000
Aggregate gross proceeds to be raised under the private placement offering	$ 5,000
1287398 B.C. Ltd.
Commitments and contingencies
Number of subscription receipts agreed to be purchased (in shares)	1,724,138
Price per subscription receipt (in dollars per share)	$ 1.16
Aggregate purchase price for number of subscription receipts to be purchased	$ 2,000
Investments in land development partnerships | KD Development, LLC
Commitments and contingencies
Collaborative agreement, fees, percentage of cumulative net profits		0.72%
Investments in land development partnerships | Pool Of Various Individuals
Commitments and contingencies
Collaborative agreement, fees, percentage of cumulative net profits		0.20%
Kaupulehu Developments
Commitments and contingencies
Fees to be paid to Nearco	10.40%
Percentage of Increment II receipts to be paid to external real estate counsel for services provided in the negotiation and closing of the Increment II transaction	1.20%

INFORMATION RELATING TO THE C_3

INFORMATION RELATING TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Increase (decrease) from changes in:
Receivables	$ (1,763)	$ (814)
Income tax receivable	15	457
Other current assets	(531)	(920)
Accounts payable	110	(746)
Accrued compensation	(48)	668
Other current liabilities	1,190	(796)
Decrease from changes in current assets and liabilities	(1,027)	(2,151)
Supplemental disclosure of cash flow information:
Income taxes refunded, net	(98)	(303)
Supplemental disclosure of non-cash investing and financing activities:
Canadian income tax withheld on proceeds from the sale of oil and natural gas properties	0	598
Supplemental disclosures of cash flow information:
Increase (decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	2,703	811
Oil and natural gas
Supplemental disclosures of cash flow information:
Increase in capital expenditure accruals related to oil and natural gas exploration and development	882	346
Increase (decrease) in capital expenditure accruals related to oil and natural gas asset retirement obligations	$ 2,703	$ 811

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($) lot	Sep. 30, 2021 USD ($) lot
Gros Ventre Partners, LLC
Related party transactions
Profit sharing ratio of variable interest entity	2%
Asset management fee, percent fee of cumulative capital contributions	1%
Kaupulehu Developments
Related party transactions
Revenues - sale of interest in leasehold land	$ 1,295	$ 1,738
Kaupulehu Developments | KD Kaupulehu, LLLP | Investments in land development partnerships | Increment I
Related party transactions
Revenues - sale of interest in leasehold land	$ 1,295	$ 1,738
Number of single family lots sold | lot	6	8
Four Pines Operating LLC | Gros Ventre Partners, LLC
Related party transactions
Interest owned by former member of Board of Directors	25%
KD Acquisition, LLLP | Investments in land development partnerships
Related party transactions
Ownership interest acquired	19.60%
KD Acquisition II, LP | Barnwell Industries Inc | Investments in land development partnerships
Related party transactions
Ownership interest acquired	10.80%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended	12 Months Ended
	Dec. 16, 2022 USD ($) $ / shares	Nov. 30, 2022 USD ($) lot	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) lot $ / shares	Sep. 30, 2021 USD ($)	Dec. 01, 2022	Oct. 17, 2022 shares
Subsequent Event [Line Items]
Proceeds recorded as other current liabilities					$ 551	$ 0
Dividends declared, cash paid per share | $ / shares					$ 0.015
Land Development Partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment, net					$ 3,028	6,011
Drilling rigs and equipment
Subsequent Event [Line Items]
Proceeds recorded as other current liabilities			$ 551
Kaupulehu Developments
Subsequent Event [Line Items]
Revenues - sale of interest in leasehold land					$ 1,295	$ 1,738
Kaupulehu Developments | KD Kaupulehu LLLP Increment I
Subsequent Event [Line Items]
Number of single family lots sold | lot					6
Subsequent Event
Subsequent Event [Line Items]
Dividends declared, cash paid per share | $ / shares	$ 0.015
Subsequent Event | Land Development Partnerships
Subsequent Event [Line Items]
Cash distribution from equity method investment, net		$ 478
Subsequent Event | The Tax Benefits Preservation Plan
Subsequent Event [Line Items]
Number of rights for each outstanding common stock (in shares) | shares								1
Subsequent Event | Drilling rigs and equipment | Forecast
Subsequent Event [Line Items]
Gain on sale of drilling rig				$ 551
Subsequent Event | Kaupulehu Developments | KD Kaupulehu LLLP Increment I
Subsequent Event [Line Items]
Revenues - sale of interest in leasehold land		$ 265
Number of single family lots sold | lot		1
Subsequent Event | Barnwell Texas, LLP
Subsequent Event [Line Items]
Working interest in oil and gas leasehold acreage							22.30%
Working interest in oil wells							15.40%
Cash paid under the arrangements	$ 5,099
Broker's fee percent							5%

SUPPLEMENTARY OIL AND NATURAL_3

SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Details) bbl in Thousands, Mcf in Thousands, Boe in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2022 USD ($) Boe bbl Mcf	Sep. 30, 2021 USD ($) Boe bbl Mcf
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Boe	1,142	933
Revisions of previous estimates | Boe	321	523
Acquisitions of reserves | Boe	137	130
Less sales of reserves | Boe	(2)	(156)
Less production | Boe	(396)	(288)
Extensions, discoveries and other additions | Boe	737
Balance at the end of the period | Boe	1,939	1,142
Proved developed reserves - total | Boe	1,883
Proved undeveloped reserves - total | Boe	56
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	$ 67,883	$ 58,490
Unproved properties	0	962
Total capitalized costs	67,883	59,452
Accumulated depletion, depreciation, and impairment	54,651	56,067
Net capitalized costs	13,232	3,385
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	3,247	1,102
Acquisition of unproved properties	0	0
Exploration Costs	55	255
Development costs	10,453	1,671
Total	13,755	3,028
Additions and revisions to asset retirement obligation included in total costs incurred	2,703	811
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	22,581	10,254
Production costs	(9,439)	(6,556)
Depletion	(2,606)	(645)
Reduction of carrying value of oil and natural gas properties		(630)
Pre-tax results of operations	10,536	2,423
Estimated income tax expense	107	0
Results of operations	10,429	2,423
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Future cash inflows	100,334	36,130
Future production costs	(45,355)	(25,323)
Future development costs	(274)	(240)
Future income tax expenses	(7,141)	(995)
Future net cash flows excluding abandonment, decommissioning and reclamation	47,564	9,572
Future abandonment, decommissioning and reclamation	(16,730)	(14,525)
Future net cash flows	30,834	(4,953)
10% annual discount for timing of cash flows	(2,956)	7,598
Standardized measure of discounted future net cash flows	27,878	2,645
Changes in the Standardized Measure of Discounted Future Net Cash Flows
Beginning of year	2,645	(1,685)
Sales of oil and natural gas produced, net of production costs	(13,142)	(3,604)
Net changes in prices and production costs, net of royalties and wellhead taxes	27,828	5,702
Extensions and discoveries	8,889	0
Net change due to purchases and sales of minerals in place	2,451	(882)
Revisions of previous quantity estimates	4,270	4,217
Net change in income taxes	(4,774)	(845)
Accretion of discount	(1,566)	(176)
Other - changes in the timing of future production and other	801	(55)
Other - net change in Canadian dollar translation rate	476	(27)
Net change	25,233	4,330
End of year	$ 27,878	$ 2,645
United States
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Boe	0	0
Revisions of previous estimates | Boe	0	0
Acquisitions of reserves | Boe	0	0
Less sales of reserves | Boe	0	0
Less production | Boe	(75)	0
Extensions, discoveries and other additions | Boe	245
Balance at the end of the period | Boe	170	0
Proved developed reserves - total | Boe	170
Proved undeveloped reserves - total | Boe	0
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	$ 1,058	$ 217
Unproved properties	0	962
Total capitalized costs	1,058	1,179
Accumulated depletion, depreciation, and impairment	403	14
Net capitalized costs	655	1,165
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	0	70
Acquisition of unproved properties	0	0
Exploration Costs	0	0
Development costs	(121)	1,108
Total	(121)	1,178
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	3,496	118
Production costs	(440)	(24)
Depletion	(389)	(14)
Reduction of carrying value of oil and natural gas properties		0
Pre-tax results of operations	2,667	80
Estimated income tax expense	107	0
Results of operations	2,560	80
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Future cash inflows	6,676	0
Future production costs	(832)	0
Future development costs	0	0
Future income tax expenses	(233)	0
Future net cash flows excluding abandonment, decommissioning and reclamation	5,611	0
Future abandonment, decommissioning and reclamation	(11)	0
Future net cash flows	5,600	0
10% annual discount for timing of cash flows	(1,812)	0
Standardized measure of discounted future net cash flows	3,788	0
Changes in the Standardized Measure of Discounted Future Net Cash Flows
Beginning of year	0
End of year	$ 3,788	$ 0
Canada
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Boe	1,142	933
Revisions of previous estimates | Boe	321	523
Acquisitions of reserves | Boe	137	130
Less sales of reserves | Boe	(2)	(156)
Less production | Boe	(321)	(288)
Extensions, discoveries and other additions | Boe	492
Balance at the end of the period | Boe	1,769	1,142
Proved developed reserves - total | Boe	1,713
Proved undeveloped reserves - total | Boe	56
Capitalized Costs Relating to Oil and Natural Gas Producing Activities
Proved properties	$ 66,825	$ 58,273
Unproved properties	0	0
Total capitalized costs	66,825	58,273
Accumulated depletion, depreciation, and impairment	54,248	56,053
Net capitalized costs	12,577	2,220
Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development
Acquisition of proved properties	3,247	1,032
Acquisition of unproved properties	0	0
Exploration Costs	55	255
Development costs	10,574	563
Total	13,876	1,850
Results of Operations for Oil and Natural Gas Producing Activities
Net revenues	19,085	10,136
Production costs	(8,999)	(6,532)
Depletion	(2,217)	(631)
Reduction of carrying value of oil and natural gas properties		(630)
Pre-tax results of operations	7,869	2,343
Estimated income tax expense	0	0
Results of operations	7,869	2,343
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract]
Future cash inflows	93,658	36,130
Future production costs	(44,523)	(25,323)
Future development costs	(274)	(240)
Future income tax expenses	(6,908)	(995)
Future net cash flows excluding abandonment, decommissioning and reclamation	41,953	9,572
Future abandonment, decommissioning and reclamation	(16,719)	(14,525)
Future net cash flows	25,234	(4,953)
10% annual discount for timing of cash flows	(1,144)	7,598
Standardized measure of discounted future net cash flows	24,090	2,645
Changes in the Standardized Measure of Discounted Future Net Cash Flows
Beginning of year	2,645
End of year	$ 24,090	$ 2,645
OIL & NGL (Bbls)
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | bbl	640	535
Revisions of previous estimates | bbl	154	291
Acquisitions of reserves | bbl	99	80
Less sales of reserves | bbl		(97)
Less production | bbl	(230)	(169)
Extensions, discoveries and other additions | bbl	417
Balance at the end of the period | bbl	1,080	640
Proved developed reserves - volume | bbl	1,046
Proved undeveloped reserves - volume | bbl	34
OIL & NGL (Bbls) | United States
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | bbl	0	0
Revisions of previous estimates | bbl	0	0
Acquisitions of reserves | bbl	0	0
Less sales of reserves | bbl		0
Less production | bbl	(42)	0
Extensions, discoveries and other additions | bbl	132
Balance at the end of the period | bbl	90	0
Proved developed reserves - volume | bbl	90
Proved undeveloped reserves - volume | bbl	0
OIL & NGL (Bbls) | Canada
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | bbl	640	535
Revisions of previous estimates | bbl	154	291
Acquisitions of reserves | bbl	99	80
Less sales of reserves | bbl		(97)
Less production | bbl	(188)	(169)
Extensions, discoveries and other additions | bbl	285
Balance at the end of the period | bbl	990	640
Proved developed reserves - volume | bbl	956
Proved undeveloped reserves - volume | bbl	34
Natural gas
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Mcf	2,913	2,310
Revisions of previous estimates | Mcf	968	1,345
Acquisitions of reserves | Mcf	223	289
Less sales of reserves | Mcf	(13)	(341)
Less production | Mcf	(964)	(690)
Extensions, discoveries and other additions | Mcf	1,858
Balance at the end of the period | Mcf	4,985	2,913
Proved developed reserves - volume | Mcf	4,857
Proved undeveloped reserves - volume | Mcf	128
Natural gas | United States
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Mcf	0	0
Revisions of previous estimates | Mcf	0	0
Acquisitions of reserves | Mcf	0	0
Less sales of reserves | Mcf	0	0
Less production | Mcf	(192)	0
Extensions, discoveries and other additions | Mcf	658
Balance at the end of the period | Mcf	466	0
Proved developed reserves - volume | Mcf	466
Proved undeveloped reserves - volume | Mcf	0
Natural gas | Canada
Changes in the estimates of net interests in total proved reserves of oil and natural gas liquids and natural gas
Balance at the beginning of the period | Mcf	2,913	2,310
Revisions of previous estimates | Mcf	968	1,345
Acquisitions of reserves | Mcf	223	289
Less sales of reserves | Mcf	(13)	(341)
Less production | Mcf	(772)	(690)
Extensions, discoveries and other additions | Mcf	1,200
Balance at the end of the period | Mcf	4,519	2,913
Proved developed reserves - volume | Mcf	4,391
Proved undeveloped reserves - volume | Mcf	128