Why These Energy Stocks are Gaining This Week

7. Barnwell Industries, Inc. (NYSE:BRN)

Share Price Gains Between Mar. 10 – Mar. 17: 18.92%

Barnwell Industries, Inc. (NYSE:BRN), together with its subsidiaries, acquires and develops crude oil and natural gas assets in Canada.

Investors have responded positively after Barnwell Industries, Inc. (NYSE:BRN) announced the sale of its water well drilling subsidiary, Water Resources International. The $1.05 million proceeds from the sale will be used for general corporate purposes, with a focus on reinvestment in the company’s oil and gas operations. The move will also help bolster Barnwell’s balance sheet, which maintains zero debt.