Honolulu-based Barnwell Industries Inc., which specializes in oil and natural gas operations, said today it has sold subsidiary Water Resources International Inc. for $1,050,000.

The subsidiary is a deep drilling and well pumping specialist in the exploration and development of groundwater resources for government, commercial and private clients in Hawaii.

Proceeds from the sale will be used for general corporate purposes, with a focus toward reinvestment in the company’s oil and gas operations. Revenue from the divested business totaled approximately $3,162,000 for the 12-month period that ended Dec. 31.

Barnwell President and CEO Craig Hopkins described the sale as “an important strategic objective” set by the board of directors.

Former President and CEO Alex Kinzler stepped aside April 1 to become executive chairman. He also serves as secretary and general counsel.