Apache reports first-quarter net loss of $489 million

Houston independent Apache Corp. reported a first-quarter net loss of $489 million, including noncash, aftertax ceiling test writedowns of $325 million driven primarily by low commodity prices. That compares with a net loss of $7.2 billion in fourth-quarter 2015 and a first-quarter 2015 net loss of $4.7 billion.

Source: News