Feb 14 (Reuters) - Apache Corp’s quarterly profit missed analysts’ estimates as strong production from the company’s oil and gas wells in Texas’s Anadarko and Permian basins failed to offset the effect of weak prices.
Net income fell to $649 million, or $1.64 per share, in the fourth quarter, from $1.17 billion, or $2.98 per share, a year earlier.
Adjusted profit was $2.27 per share. Revenue rose to $4.39 billion.
Analysts on average expected a profit of $2.30 per share on revenue of $4.36 billion, according to Thomson Reuters I/B/E/S.