Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited)
Quarter Ended | Twelve Months | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
Financial Data | ||||||||||||||||||||
(Data in $ thousands, except per share amounts) | 2002 | 2001 | 2002 | 2001 | ||||||||||||||||
Revenues: | ||||||||||||||||||||
Oil and Gas | 215,531 | 128,075 | 746,988 | 596,077 | ||||||||||||||||
Pipeline sales | 1 | 1,388 | 79 | 12,037 | ||||||||||||||||
Gain (loss) on property sales and other | 806 | (6,754 | ) | 4,374 | (2,614 | ) | ||||||||||||||
Total | 216,338 | 122,709 | 751,441 | 605,500 | ||||||||||||||||
Operating Expenses: | ||||||||||||||||||||
Lease Operating | 38,592 | 30,695 | 139,448 | 118,157 | ||||||||||||||||
General & Administrative | 12,675 | 10,023 | 49,490 | 39,162 | ||||||||||||||||
Exploration | 1,099 | 5,926 | 4,783 | 23,373 | ||||||||||||||||
Dry hole and impairment | 10,325 | 848 | 26,999 | 26,945 | ||||||||||||||||
Depreciation, depletion and amortization | 74,101 | 60,323 | 287,809 | 206,609 | ||||||||||||||||
Pipeline operating & natural gas purchases | 425 | 1,115 | 2,739 | 11,373 | ||||||||||||||||
Total | 137,217 | 108,930 | 511,268 | 425,619 | ||||||||||||||||
Operating Income | 79,121 | 13,779 | 240,173 | 179,881 | ||||||||||||||||
Interest: | ||||||||||||||||||||
Charges | (13,998 | ) | (14,848 | ) | (57,450 | ) | (56,259 | ) | ||||||||||||
Income | 444 | 540 | 1,760 | 3,226 | ||||||||||||||||
Capitalized | 4,588 | 9,089 | 24,033 | 33,242 | ||||||||||||||||
Total Interest Expense | (8,966 | ) | (5,219 | ) | (31,657 | ) | (19,791 | ) | ||||||||||||
Minority Interest in Subsidiary | — | (2,500 | ) | (4,140 | ) | (9,999 | ) | |||||||||||||
Foreign Currency Transaction Gain (Loss) | (438 | ) | 144 | 435 | (524 | ) | ||||||||||||||
Income Before Income Taxes | 69,717 | 6,204 | 204,811 | 149,567 | ||||||||||||||||
Income Tax Expense (Benefit) | 31,966 | 4,778 | 97,780 | 61,613 | ||||||||||||||||
Income Before Change in Accounting Principle | 37,751 | 1,426 | 107,031 | 87,954 | ||||||||||||||||
Net Income | 37,751 | 1,426 | 107,031 | 87,954 | ||||||||||||||||
Earnings Per Common Share | ||||||||||||||||||||
Basic earnings per share | 0.62 | 0.03 | 1.85 | 1.72 | ||||||||||||||||
Diluted earnings per share | 0.60 | 0.03 | 1.77 | 1.62 | ||||||||||||||||
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: | ||||||||||||||||||||
Basic shares | 60,966 | 53,657 | 57,963 | 51,031 | ||||||||||||||||
Diluted shares | 64,920 | 54,293 | 64,321 | 60,822 | ||||||||||||||||
Discretionary Cash Flow: | ||||||||||||||||||||
Net Income | 37,751 | 1,426 | 107,031 | 87,954 | ||||||||||||||||
Foreign currency transaction loss (gain) | 1,601 | (144 | ) | 728 | 524 | |||||||||||||||
Depreciation, depletion and amortization | 74,101 | 60,323 | 287,809 | 206,609 | ||||||||||||||||
Deferred Taxes | 10,912 | 2,029 | 70,929 | 50,617 | ||||||||||||||||
Other | 4,573 | 208 | 17,589 | 5,550 | ||||||||||||||||
Dry Hole and Impairment | 10,325 | 848 | 26,999 | 26,945 | ||||||||||||||||
Exploration | 1,099 | 5,926 | 4,783 | 23,373 | ||||||||||||||||
(Gains) Losses on Property Sales | 66 | 3,487 | (3,034 | ) | (1,000 | ) | ||||||||||||||
Capitalized Interest | (4,588 | ) | (9,089 | ) | (24,033 | ) | (33,242 | ) | ||||||||||||
Undistributed Equity in Minority Owned Subsidiary | — | 2,500 | 4,140 | 9,999 | ||||||||||||||||
Total | 135,840 | 67,514 | 492,941 | 377,329 | ||||||||||||||||