QuickLinks -- Click here to rapidly navigate through this document
Pogo Producing Company
Supplemental Information (Unaudited)
| Quarter Ended March 31, | ||||||||
---|---|---|---|---|---|---|---|---|---|
| 2003 | 2002 | |||||||
| (Data in $ thousands, except per share amount) | ||||||||
Financial Data | |||||||||
Revenues: | |||||||||
Oil and Gas | $ | 309,867 | $ | 142,297 | |||||
Other | 887 | 613 | |||||||
Total | 310,754 | 142,910 | |||||||
Operating Costs/Expenses: | |||||||||
Lease Operating | 39,669 | 31,283 | |||||||
General & Administrative | 13,372 | 11,542 | |||||||
Exploration | 1,832 | (176 | ) | ||||||
Dry hole and impairment | 2,178 | 4,995 | |||||||
Depreciation, depletion and amortization | 80,419 | 65,806 | |||||||
Accretion and other | 5,450 | 181 | |||||||
Total | 142,920 | 113,631 | |||||||
Operating Income | 167,834 | 29,279 | |||||||
Interest: | |||||||||
Charges | (13,695 | ) | (14,588 | ) | |||||
Income | 387 | 378 | |||||||
Capitalized | 4,014 | 6,653 | |||||||
Total Interest Expense | (9,294 | ) | (7,557 | ) | |||||
Minority Interest in Subsidiary | — | (2,502 | ) | ||||||
Foreign Currency Transaction Gain | 226 | 672 | |||||||
Income Before Income Taxes | 158,766 | 19,892 | |||||||
Income Tax Expense | 66,123 | 10,867 | |||||||
Income Before Change in Accounting Principle | 92,643 | 9,025 | |||||||
Change in accounting principle | (4,166 | ) | — | ||||||
Net Income | $ | 88,477 | $ | 9,025 | |||||
Basic earnings per share | |||||||||
Before change in accounting principle | $ | 1.52 | $ | 0.17 | |||||
Change in accounting principle | (0.07 | ) | — | ||||||
Basic earnings per share | $ | 1.45 | $ | 0.17 | |||||
Diluted earnings per share | |||||||||
Before change in accounting principle | $ | 1.44 | $ | 0.17 | |||||
Change in accounting principle | (0.07 | ) | — | ||||||
Diluted earnings per share | $ | 1.37 | $ | 0.17 | |||||
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: | |||||||||
Basic shares | 61,157 | 53,750 | |||||||
Diluted shares | 65,128 | 54,487 | |||||||
Discretionary Cash Flow: | |||||||||
Net Income | 88,477 | 9,025 | |||||||
Accretion and other | 4,101 | (672 | ) | ||||||
Change in accounting principle | 4,166 | — | |||||||
Depreciation, depletion and amortization | 80,419 | 65,806 | |||||||
Deferred Taxes | 17,001 | 7,546 | |||||||
Dry Hole and Impairment | 2,178 | 4,995 | |||||||
Exploration | 1,832 | (176 | ) | ||||||
(Gains) Losses on Property Sales | 62 | 262 | |||||||
Capitalized Interest | (4,014 | ) | (6,653 | ) | |||||
Undistributed Equity in Minority Owned Subsidiary | — | 2,502 | |||||||
Other Noncash | 1,119 | 2,662 | |||||||
Total | $ | 195,341 | $ | 85,297 | |||||
Pogo Producing Company Supplemental Information (Unaudited)