Benton Oil & Gas Earnings Rebound From Year Ago
Benton Oil & Gas Co., a Ventura-based oil and gas exploration and production company, reported earnings of $73,859 in the second quarter, compared to a loss of $452,704 a year earlier. Its revenue, meanwhile, surged to $2.92 million from $359,429 in 1990’s second period.
In the six months that ended June 30, Benton earned $240,599 on $5.27 million in revenue. A year earlier, the company lost $680,530 on $662,888 in revenue.
Benton said the latest results reflect its acquisition and development of drilling interests in the West Cote Blanche Bay Field in Louisiana, and increased production at other sites in California, Texas and Colorado.
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