Apache quarterly profit up and oil output grows

Thu Nov 7, 2013 8:14am EST

Nov 7 (Reuters) - Apache Corp on Thursday reported a higher quarterly profit, helped by record oil production from its wells in the Permian Basin in West Texas.

Profit in the quarter was $300 million, or 75 cents per share, compared with $161 million, or 41 cents per share in the 2012 third quarter.

Apache's oil and natural gas production from the Permian Basin rose 18 percent from a year ago to 132,000 barrels of oil equivalent per day (boe/d) and total production averaged 784,000 boe/d in the third quarter.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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