Benton Oil & Gas Plans Common Stock Offering
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Benton Oil & Gas Co., an Oxnard-based energy concern, said it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 3 million shares of common stock. Benton said it expects net proceeds from the offering to total between $35 million and $36 million.
Cash raised from the offering will be used to pay debt, help fund a joint venture with Russian partners in Siberia and provide money for exploration and development in the Gulf Coast region.
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