Barnwell Completes $1.05M WRI Financing Repayment, Nets $290K Hawaii Distribution
BRN•Barnwell Industries has received full repayment of the $1.05 million seller financing from its March 14, 2025 sale of Water Resources International, including accrued interest, completing monetization of its Hawaii drilling business. It also collected $290,000 from retained Hawaii resort development interests (KD Kona and KKM Makai) and continues evaluating strategic alternatives for its Canadian oil and gas assets on the back of oil prices that are significantly higher than six months ago.
1. Completion of WRI Financing Repayment
On March 14, 2025 Barnwell sold Water Resources International for gross proceeds of $1.05 million, including seller financing. As of June 18, 2026 the company has received the final installment plus all accrued interest, fully monetizing the Hawaii-based drilling and pump installation business.
2. Hawaii Resort Distributions
Barnwell’s retained interests in KD Kona and KKM Makai resort developments generated a cash distribution of approximately $290,000. These ongoing distributions underscore the value of its Hawaii portfolio and contribute to the company’s liquidity and cash flow.
3. Evaluation of Canadian Oil & Gas Assets
The company is actively soliciting and evaluating indications of interest for its Canadian oil and natural gas assets. Recent oil prices, significantly higher than levels six months ago, support stronger asset economics and valuation discussions with potential buyers.
4. Strategic Repositioning and Capital Allocation
Barnwell’s strategic plan focuses on unlocking portfolio value, strengthening the balance sheet and improving liquidity. Management continues to explore a broad range of alternatives, including asset sales, mergers, acquisitions and other combinations to enhance long-term shareholder returns.
