Barnwell Announces Asset Sale and Provides Update on Its Oil and Gas Operations in the Current Low Commodity Price Environment
Barnwell Industries, Inc. (BRN)
NASDAQ:AMEX Investor Relations:
brninc.com
Company Research
Source: Business Wire
HONOLULU--(BUSINESS WIRE)--Barnwell Industries, Inc. (“Barnwell” or the “Company”) (NYSE American: BRN) is pleased to provide a business update, including announcing that its wholly-owned contract water well drilling subsidiary closed on the sale of its leasehold interest in a maintenance yard in Honolulu, Hawaii to an unrelated third party for a $1,100,000 cash payment. The Company will recognize a gain on the transaction in its second quarter ended March 31, 2020. Additionally, given the current uncertain market conditions, the Company has been assessing, and implementing where appropriate, ways to alleviate strain on the Company.Mr. Alexander C. Kinzler, Chief Executive Officer of Barnwell, commented, “As a result of the unprecedented contraction of global oil demand combined with the price war between OPEC and Russia, we are evaluating additional measures to be taken with respect to our oil and gas properties. Because of the extreme uncertainty of the current situation and the
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BRN
News
- Barnwell Industries, Inc. (NYSE: BRN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Barnwell Industries, Inc. (NYSE: BRN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Barnwell Industries, Inc. (NYSE: BRN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Barnwell Industries, Inc. (NYSE: BRN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Barnwell Industries, Inc. (NYSE: BRN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
BRN
Sec Filings
- 10/28/24 - Form 4
- 10/28/24 - Form 4
- 10/28/24 - Form 4
- BRN's page on the SEC website