Barnwell (NYSE: BRN) receives $290K Kukio cash and reviews assets

Rhea-AI Filing Summary

Barnwell Industries, Inc. reported receiving a cash distribution of approximately $290,000 from its minority interests in the Kukio Resort land development partnerships in Hawaii, including KD Kona and KKM Makai. Management emphasized that these real estate investments provide episodic cash flows that complement the company’s core energy operations.

The company reiterated that it is evaluating opportunities to maximize the value of its diverse asset base, including its Hawaiian real estate interests and Canadian energy assets, through a process to solicit and assess indications of interest from potential counterparties. Barnwell highlighted its focus on disciplined capital allocation and maximizing shareholder value.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 Washington, DC 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2026

BARNWELL INDUSTRIES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-5103	72-0496921
(State or other jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

24 Greenway Plaza, Suite 1800Q

Houston, Texas 77046

(Address of Principal Executive Offices) (Zip Code)

(713) 730-7026

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.50 Par Value		BRN		NYSEAMER

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

On March 23, 2026, Barnwell Industries, Inc. (the “Company”) issued a press release announcing a cash distribution received from the Company’s minority partnership interests and providing a corporate update regarding the Company’s asset base and value-maximization efforts. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Press release dated March 23, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 27, 2026

BARNWELL INDUSTRIES, INC.
By:	/s/ Philip F. Patman, Jr.
	Name:	Philip F. Patman, Jr.
	Title:	Chief Financial Officer and Treasurer

Exhibit 99.1

Barnwell Industries Receives Cash Distribution from Its Interests in the Big Island of Hawaii Kaupulehu and Kukio Resort Partnerships, Highlighting the Company’s Embedded Value Beyond Its Core Energy Operations

HOUSTON, TX / ACCESS Newswire / March 23, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) (“Barnwell” or the “Company”) today announced that it has received a cash distribution of approximately $290,000 from its investments in the Kukio Resort land development partnerships in Hawaii, specifically those in KD Kona and KKM Makai.

Barnwell holds minority partnership interests in the Kukio Resort development, a high-end residential community located on the Kona coast of Hawaii. These investments provide the Company with participation in the value created through the development and sale of luxury residential real estate within the Kukio project.

“This distribution underscores the continued value embedded in the investments in our Kukio real estate segment,” said Philip Patman, Jr. Chief Financial Officer of Barnwell Industries. “While these cash flows can be episodic in nature, they represent an additional source of value alongside our core energy operations.”

The Company continues to monitor and evaluate opportunities to maximize the value of its diverse asset base, including its real estate interests and Canadian energy assets.

As outlined in the Company’s Form 8-K filed with the Securities and Exchange Commission on March 13, 2026, Barnwell has commenced a process to solicit and evaluate indications of interest from potential counterparties, with the intention being to confirm and potentially realize fair value for those assets in light of current market conditions.

The Company remains committed to disciplined capital allocation and maximizing shareholder value, and will provide updates as appropriate.

About Barnwell Industries, Inc.

Barnwell Industries, Inc. (NYSE American:BRN) is a diversified company with operations and interests in energy and related assets. The Company is focused on disciplined capital allocation, operational excellence, and high-return growth opportunities.

Forward-Looking Statements

The information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements.

Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s annual report on Form 10-K for the last fiscal year and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

COMPANY:

Philip F. Patman, Jr.

Chief Financial Officer and Treasurer

Barnwell Industries, Inc.

24 Greenway Plaza, Suite 1800Q

Houston, Texas 77046

Telephone: +1 (713) 730 7026

Website: www.brninc.com

SOURCE: Barnwell Industries

FAQ

What did Barnwell Industries (BRN) announce in this 8-K filing?

Barnwell Industries announced it received a cash distribution of about $290,000 from its Kukio Resort land development partnerships in Hawaii and provided a corporate update on efforts to maximize value from its real estate and Canadian energy assets.

How much cash did Barnwell Industries (BRN) receive from its Kukio investments?

Barnwell Industries received a cash distribution of approximately $290,000 from its investments in the Kukio Resort land development partnerships, specifically KD Kona and KKM Makai. Management described these cash flows as episodic but an important additional source of value beyond core energy operations.

What are Barnwell Industries’ Kukio Resort partnerships in Hawaii?

Barnwell holds minority partnership interests in the Kukio Resort development, a high-end residential community on Hawaii’s Kona coast. These investments give Barnwell participation in value created through development and sale of luxury residential real estate within the Kukio project.

How does this cash distribution fit with Barnwell Industries’ strategy?

The distribution supports Barnwell’s strategy of leveraging a diverse asset base that includes real estate and Canadian energy assets. Management highlighted that Kukio-related cash flows supplement its core energy operations and align with a focus on disciplined capital allocation and shareholder value.

What value-maximization process is Barnwell Industries (BRN) pursuing?

Barnwell has commenced a process to solicit and evaluate indications of interest from potential counterparties for its real estate interests and Canadian energy assets. The intent is to confirm and potentially realize fair value for these assets in light of prevailing market conditions.

What forward-looking statement risks does Barnwell Industries mention?

Barnwell notes that its forward-looking statements involve risks, uncertainties and assumptions that could cause actual results to differ materially. It refers investors to the “Risk Factors” and similar sections of its most recent Form 10-K and other SEC filings for detailed discussions.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 9.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 21.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 15.7 KB