v3.26.1
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedules of discontinued operations presented in the financial statements
The following table presents the financial results from discontinued operations presented in the Condensed Consolidated Statements of Operations.
Three months ended
March 31,		Six months ended
March 31,
 2026202520262025
Revenues:  
Contract drilling$— $613,000 $— $1,156,000 
— 613,000 — 1,156,000 
Costs and expenses:
Contract drilling operating— 519,000 — 1,239,000 
General and administrative— 91,000 — 209,000 
Depreciation and amortization— 16,000 — 40,000 
Interest expense— 1,000 — 1,000 
Gain on sale of assets (1)
— (538,000)— (538,000)
 — 89,000 — 951,000 
Loss from discontinued operations before income taxes
— 524,000 — 205,000 
Loss on sale of discontinued operations— (193,000)— (193,000)
Net loss from discontinued operations
$— $331,000 $— $12,000 
(1) In February 2025, the Company completed the sale of a contract drilling segment drilling rig and related ancillary equipment to an independent third party for proceeds of $538,000, net of related costs. The drilling rig and related ancillary equipment were fully depreciated and had a net book value of zero and as a result of the sale, the Company recognized a $538,000 gain during the three and six months ended March 31, 2025 which was recorded in discontinued operations.