Barnwell Industries, Inc. Reports Results for its Second Quarter and Six Months Ended March 31, 2023 and the Declaration of a Cash Dividend
As there were no sales this quarter, the Company received no percentage of sales payments and no cash distributions in the quarter.
- As there were no sales this quarter, the Company received no percentage of sales payments and no cash distributions in the quarter.
- Capital expenditures incurred for the drilling of these wells and Twining facilities in the six months ended March 31, 2023 totaled approximately $2,236,000.
- Capitalized costs, including advances to the operator of those wells, totaled $5,354,000 in the six months ended March 31, 2023.
- The expenses related to this agreement of $501,000 are reflected in the results for the three and six months ended March 31, 2023.