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Barnwell Industries, Inc.BB

Barnwell Industries, Inc.

1.44USDR
+0.07+5.49%
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$BRN Next Target PT 7 and higherBarnwell Industries, Inc. acquires, develops, produces, and sells oil and natural gas in Canada. It operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. The company acquires and develops crude and natural gas assets in the province of Alberta; and invests in land interests in Hawaii. It also owns and operates five water well drilling rigs, two pump rigs, and other ancillary drilling and pump equipment; drills water and water monitoring wells of varying depths; installs and repairs water pumping systems; and distributes trillium flow technologies. Barnwell Industries, Inc. was incorporated in 1956 and is headquartered in Honolulu, Hawaii.
ALong
by BADQOMOCAWGOWLD
Why $BRN skyrocketed in January?Barnwell Industries Reaches Agreement With MRMP Stockholders to End Potential Proxy Contest $BRN is pleased to announce today that it has entered into a cooperation and support agreement with MRMP Stockholders, with respect to the potential proxy contest pertaining to the election of directors to our Board of Directors (the “Board”). the Company will nominate its current slate of directors, which includes three of the MRMP nominees and two new independent directors elected in 2020, to stand for reelection to the Board at the upcoming 2021 annual meeting of stockholders. The MRMP Stockholders have agreed to vote their shares of common stock of the Company in favor of the election of the designated slate, and the MRMP Stockholders have agreed to withdraw their proposed slate of directors. I’m gratified that the Board of Directors will be unchanged from last year and be able to continue its efforts to move the Company forward. The agreement that we have forged with the Company should avoid distraction and unnecessary expense allowing our Board to continue to position Barnwell for long term positive cash generation and further share price appreciation.” finance.yahoo.com
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by AlenCiken
Reports Results for the Second Quarter and Six MonthsBarnwell Industries, Inc. Reports Results for the Second Quarter and Six Months Ended March 31, 2020 ------------------------------------------------------------ The reduction in the loss for the three months ended March 31, 2020 as compared to last year’s loss for the three months ended March 31, 2019 was largely due to a $1,336,000 gain, before taxes, in the current period from the sale of the Company’s leasehold interest in a contract drilling segment storage yard in Honolulu; whereas there was no such gain in last year’s quarter. ------------------------------------------------------- Additionally, Barnwell’s contract drilling segment operating profit increased $1,035,000 due to increased drilling activity ---------------------------------------------------------- the Company’s oil and natural gas production increased 33% and 9%, respectively, in the three months ended March 31, 2020 as compared to last year’s three months ended March 31, 2019 due largely to an oil well drilled in the Spirit River area in mid-November 2019. www.globenewswire.com
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by AlenCiken