Benton Oil & Gas Reports Profit, Increased Revenue

Benton Oil & Gas Co., a Ventura oil and gas exploration and production company, reported a $166,740 profit for the first quarter that ended March 31, while its revenue surged to $2.35 million. A year earlier, Benton lost $227,826 on $303,460 in revenue.

The company said the latest quarter’s results reflected an increase in its oil and gas production, mostly due to its acquisition of an interest in the West Cote Blanche Bay Field in Louisiana late last year.

Benton said it also has received approval to list its stock on the American Stock Exchange. Its stock now trades in the NASDAQ National Market System for over-the-counter stocks.