05:13 PM EST, 02/06/2025 (MT Newswires) -- ARC Resources ( AETUF ) on Thursday said its fourth-quarter profit fell 27% on weak oil and gas prices even as production rose.

The Western Canadian oil and gas producer said it earned $370.3 million, or $0.63 per share, in the period, down from $506.3 million, or $0.84, in the year-prior quarter.

Revenue was not disclosed.

The company said it averaged production of 382,341 barrels of oil equivalent in the quarter, up from 365,248 boepd a year earlier. Its average price per barrel equivalent fell to $38.25 from $38.69.

"ARC achieved record results in a pivotal year for the organization. Key milestones that were achieved reinforced ARC's confidence in achieving the goals of its long-term plan introduced in 2023. ARC executed its capital program within budget and delivered one of its most efficient Montney programs since drilling the first horizontal Montney well in 2005. Concurrently, ARC successfully commissioned its first phase of Attachie, providing line of sight to long-term growth at its condensate-rich natural gas asset," it noted.

The company's shares closed down $0.38 to $24.65 on the Toronto Stock Exchange.