May 3, 2012 / 12:17 PM / in 6 years

Apache first quarter profits drop

May 3 (Reuters) - Oil and gas producer Apache Corp on Thursday posted a drop in first-quarter profits from a year earlier, hurt by charges to write down the value of some natural gas properties in Canada.

Net income for the first quarter was $778 million, or $2.00 per share, versus $1.1 billion, or $2.86 per share, in the year-ago quarter.

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