Barnwell Industries agrees to sell Canadian oil and gas business for C$9 million

Bitget2026/10/06 10:30

Barnwell Industries agreed to sell its Canadian oil and natural gas business to an Alberta corporation for a base price of C$ 9 million. Consideration includes C$ 4 million cash and a 5% gross overriding royalty valued at C$ 5 million for the transaction. An affiliate can buy the royalty any time after closing for C$ 5 million; prior royalty payments do not reduce that price. Buyer paid a C$ 1 million escrow deposit credited at closing; deal also transfers future site restoration and abandonment obligations. Closing requires shareholder approval plus customary conditions; Barnwell can accept a superior proposal subject to a C$ 500,000 fee. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Barnwell Industries Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202610060630ACCESSWRNAPR_____1233002) on October 06, 2026, and is solely responsible for the information contained therein.

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