Rising Oil Prices Boost Apache Q4 Profit
Oil producer Apache Corp on Thursday posted a fourth-quarter profit, compared with a year-ago loss, as oil prices surged.
Net income attributable to Apache shareholders was $456 million, or $1.19 per share, in the quarter ended Dec. 31, compared with a loss of $182 million, or 48 cents per share, a year earlier.
The Houston-based company's total revenue rose to $1.59 billion from $1.45 billion. Its average realized price of oil per barrel rose 23 percent.
Reporting by Yashaswini Swamynathan
