Lower tax pays off for PetroQuest

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Anthea Pitt

 03 November 2010 10:14 GMT

PetroQuest Energy saw its profit rise in the third quarter, but said the increase was due mainly to lower income tax expenses.



For the quarter, net income available to common stockholders were up to $4.94 million or $0.08 per share from $4.45 million or $0.07 per share last year.

Revenues for the three months dipped to $46.29 million from $50.25 million in the same period last year.

Production for the third quarter came in at 7.9 billion cubic feet of equivalent, down slightly on the 8 Bcfe pumped in teh same period last year.



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