High commodities prices fueled a big increase in Barnwell Industries Inc.’s earnings last quarter.

The Honolulu-based company, which primarily focuses on oil and natural gas, reported Friday that net income swung to a $2.1 million gain in its fiscal second quarter, which ended March 31, from a loss of $856,000 in the year-earlier period.

Revenue soared 67.1% to $6.7 million from $4 million.

“Our quarterly oil and natural gas revenues more than doubled as well as (getting) a significant increase in land segment revenues, which contributed to our increase in earnings,” Barnwell CEO Alex Kinzler said in a statement. “Our oil and natural gas operating margins improved as prices increased for all products; oil, natural gas, and natural gas liquids increasing 75%, 53%, and 95%, respectively, for our second quarter as compared to the prior year’s quarter.”

Kinzler said the company’s new Oklahoma oil production accounted for 22% of its second-quarter production on a barrel of oil equivalent basis, as compared with none in the prior year’s quarter. Quarterly production of all petroleum products also increased from 2021’s quarter.

The company also benefited from its land investment segment on Hawaii island. Barnwell sold three lots within Phase II of Increment I by the Kukio Resort Development Partnerships at Kaupulehu in North Kona. The company received $695,000 in percentage of sales payments and $1,568,000 in net cash distributions in its second quarter.

“These real estate sales also significantly increased our reported earnings of affiliates by $1,136,000, in this quarter as compared to last year’s quarter ended March 31, 2021,” Kinzler said.

Barnwell’s stock rose 15 cents Monday to $3.20.