Barnwell Industries : Regulation FD Disclosure - Form 8-K
November 24, 2023 at 06:04 am EST
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Item 7.01Regulation FD Disclosure.
Our subsidiary, Barnwell of Canada, Limited ("BOC"), typically receives market-based pricing for the natural gas it sells, which is determined by reference to the spot price of natural gas quoted on certain commodities exchanges. To provide partial protection against the risk of declining natural gas prices during the second half of our fiscal year, BOC amended certain of its purchase and sales contracts to change the sales price on a portion of the natural gas it sells to a fixed price during the period from April 1, 2024 to October 31, 2024. With these changes, BOC anticipates that during that period approximately 25% of its natural gas production will be sold at fixed prices while the remaining 75% of such production will continue to be sold at spot prices.
The information included in this Item 7.01 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Barnwell Industries Inc. published this content on 24 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2023 11:03:05 UTC.
Barnwell Industries, Inc. is engaged in three businesses: acquiring, developing, producing and selling oil and natural gas in Canada and Oklahoma; investing in land interests in Hawaii; and drilling wells and installing and repairing water pumping systems in Hawaii. The Company operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. Oil and Natural Gas Segment is engaged in oil and natural gas development, production, acquisitions and sales in Canada and Oklahoma. Its investments in oil and natural gas properties are located in Alberta, Canada and Oklahoma. Land Investment segment is entitled to receive contingent residual payments from the entities that previously purchased the Company's land investment interests under contracts entered into in prior years. Contract Drilling segment provides well drilling services and water pumping system installation and repairs in Hawaii.
BARNWELL INDUSTRIES, INC. 
