Barnwell Industries (NYSE: BRN) starts strategic review of Canadian oil and gas business

Rhea-AI Filing Summary

Barnwell Industries, Inc. has engaged an independent financial advisor to help evaluate strategic alternatives for its Canadian oil and gas business, including a possible sale of those assets. The company has begun soliciting and reviewing indications of interest from potential counterparties but has not decided to pursue or complete any transaction. There is no assurance that this process will lead to a deal, and the company plans no further public updates unless its board approves a specific transaction or determines that additional disclosure is appropriate or legally required.

Insights

Energy sector corporate strategy analyst

Barnwell is exploring options for its Canadian oil and gas assets but no transaction is set.

Barnwell Industries has hired an independent financial advisor to evaluate strategic alternatives for its Canadian oil and gas business, explicitly including a potential asset sale. The company has started a formal process to gather and assess indications of interest from potential counterparties.

The announcement states that no decision has been made to pursue or complete any sale or other strategic transaction, and it cautions that there is no assurance the process will result in a deal. This keeps the development exploratory rather than a confirmed restructuring step.

The company also notes it does not plan further comment on this review unless the board approves a specific transaction or finds that more disclosure is appropriate or required by law. Future company filings or announcements would be the venue where any agreed transaction terms, if reached, are detailed.

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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 11, 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

Barnwell Industries, Inc. (the “Company”) announced today that it has retained an independent financial advisor to assist in evaluating strategic alternatives with respect to its Canadian oil and gas business, including the potential sale of such assets.

The Company has commenced a process to solicit and evaluate indications of interest from potential counterparties. The Company has not made any decision to pursue or consummate a sale or other strategic transaction, and there can be no assurance that this process will result in any transaction. The Company does not intend to comment further regarding this process unless and until its Board of Directors has approved a specific transaction or otherwise determines that additional disclosure is appropriate or required by law.

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 13, 2026
BARNWELL INDUSTRIES, INC.
By:	/s/ Philip F. Patman, Jr.
	Name:	Philip F. Patman, Jr.
	Title:	Chief Financial Officer and Treasurer

FAQ

What strategic review did Barnwell Industries (BRN) announce for its Canadian assets?

Barnwell Industries began evaluating strategic alternatives for its Canadian oil and gas business, including a potential sale of those assets. The company has engaged an independent financial advisor and started soliciting and reviewing indications of interest from potential counterparties as part of this structured process.

Has Barnwell Industries (BRN) decided to sell its Canadian oil and gas business?

Barnwell Industries has not decided to sell its Canadian oil and gas business. It is only evaluating strategic alternatives, including a potential sale, and emphasizes that no decision to pursue or consummate any sale or other transaction has been made at this time.

Will Barnwell Industries (BRN) provide ongoing updates on the Canadian strategic review?

Barnwell Industries does not plan to provide ongoing updates on the Canadian strategic review. The company states it will comment further only if its board approves a specific transaction or determines that additional disclosure is appropriate or required under applicable law or regulations.

What role does the independent financial advisor play in Barnwell Industries’ (BRN) review?

The independent financial advisor is assisting Barnwell Industries in evaluating strategic alternatives for its Canadian oil and gas business. This includes helping structure and manage the process to solicit and assess indications of interest from potential counterparties that might pursue a sale or other strategic transaction.

Does Barnwell Industries (BRN) guarantee a transaction from its Canadian asset review?

Barnwell Industries explicitly states there is no assurance the review will result in any transaction. Although it is soliciting indications of interest and evaluating strategic alternatives, the company cautions that a sale or other deal involving its Canadian oil and gas business may not occur.

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