Spotlight: Benton to Acquire Oil Rights in Jordan
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Benton Oil & Gas Co. said it signed an agreement to buy exploration rights to a 1.2-million-acre tract in southeastern Jordan near the Saudi border for an undisclosed amount. The Carpinteria-based oil and gas company said it acquired rights to a production-sharing contract with Jordan held by a joint venture between Medallion Exploration Corp. of Utah and Huber Energy of Texas. An existing well found light oil in small amounts and additional wells found gas-bearing zones.
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