May 2, 2018 / 8:48 PM / 23 days ago

Apache reports 32 pct drop in quarterly profit

May 2 (Reuters) - Apache Corp reported a 32 percent fall in first-quarter profit on Wednesday, as the oil and gas producer failed to benefit from higher crude oil prices due to lower output.

Net income attributable to Apache's common shareholders fell to $145 million, 38 cents per share, in the quarter ended March 31, from $213 million, or 56 cents per share, a year earlier. [bit.ly/2KuYKRO ]

The company said production fell to 440,336 barrels of oil equivalent per day (boe/d) from 481,110 boe/d, a year earlier. (Reporting by Anirban Paul in Bengaluru; Editing by Arun Koyyur)

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