For the year, PetroQuest earned $26.1 million, or 39 cents per share, compared to $8.9 million, or 14 cents per share.

Stock analysts surveyed by Zacks Investment Research had predicted a fourth-quarter profit of 2 cents per share and 10 cents per share for the year.

PetroQuest said its oil and gas sales slipped around 10 percent to $48 million during the fourth quarter. For the year, oil and gas sales jumped 23 percent to $225 million.

Oil and gas prices were a combined 18 percent lower in the fourth quarter than a year earlier. The 2014 prices were 8 percent lower than those in 2013.