Business
Barnwell Industries Highlights Increased Revenue Leverage to Rising Oil Prices and Ongoing Strategic Review
HOUSTON, TX / ACCESS Newswire / March 19, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today highlighted the increased value and revenue potential of its Canadian oil production in light of recent strength in ...
About this update from Barnwell Industries, Inc.
[{"type":"text","content":"HOUSTON, TX / ACCESS Newswire / March 19, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today highlighted the increased value and revenue potential of its Canadian oil production in light of recent strength in global energy prices, and provided an update on its ongoing strategic review process.","length":352,"tagName":"p"},{"type":"text","content":"Barnwell produces crude oil from its interests in the Twining oil field in Alberta, Canada, generating approximately 950 barrels of oil equivalent per day from long-life, conventional reserves in a stable and well-established jurisdiction.","length":239,"tagName":"p"},{"type":"text","content":"With recent increases in oil prices, the Company believes its Canadian production base is positioned to generate meaningfully higher revenue relative to recent prior periods. Barnwell's assets provide direct exposure to strengthening North American energy markets, with low operational disruption and consistent production performance.","length":339,"tagName":"p"},{"type":"text","content":""We believe the current commodity price environment highlights the inherent value and resilience of our Canadian production base," said Philip Patman, Jr., Chief Financial Officer of Barnwell Industries. "Our assets offer shareholders meaningful leverage to rising oil prices, and we are focused on translating this into enhanced revenues and long-term value."","length":380,"tagName":"p"},{"type":"text","content":"The Company also confirmed that it continues to actively evaluate strategic alternatives with respect to its Canadian oil and gas assets, including the potential sale of such assets, as previously disclosed. 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.","length":557,"tagName":"p"},{"type":"text","content":"The Company remains committed to disciplined capital allocation and maximizing shareholder value, and will provide updates as appropriate.","length":138,"tagName":"p"},{"type":"text","content":"About Barnwell Industries, In...