Article: Tulsa-based Apco Oil reports drop in net income, revenue

Apco Oil and Gas International Inc. on Friday reported a drop in net income for the second quarter to $5.4 million, or 18 cents per share, from $7.2 million, or 24 cents per share, for the second quarter of 2008.

An increase in crude and natural gas sales volumes was offset by lower prices.

Revenue for the quarter totaled $15.5 million, down from $17.5 million a year earlier.

Net income for the first six months of the year totaled $10.4 million, down from $13.6 million for the first six months of 2008.

The Tulsa-based company with interests in seven oil and gas concessions and one exploration ...

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