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Pogo Producing Company
Supplemental Information (Unaudited) *
| Quarter Ended September 30, | Nine Months September 30, | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Financial Data (Data in $ thousands, except per share amounts) | |||||||||||
2004 | 2003 | 2004 | 2003 | ||||||||
Revenues: | |||||||||||
Oil and Gas | 364,024 | 278,484 | 998,010 | 887,347 | |||||||
Other | 173 | 848 | 962 | 1,804 | |||||||
Total | 364,197 | 279,332 | 998,972 | 889,151 | |||||||
Operating Expenses: | |||||||||||
Lease Operating | 36,334 | 31,268 | 103,559 | 91,811 | |||||||
General & Administrative | 18,747 | 16,936 | 52,753 | 45,362 | |||||||
Exploration | 5,186 | 1,432 | 18,573 | 5,091 | |||||||
Dry hole and impairment | 18,085 | 4,568 | 54,550 | 10,666 | |||||||
Depreciation, depletion and amortization | 96,759 | 79,688 | 277,212 | 244,454 | |||||||
Production and other taxes | 28,606 | 8,084 | 52,380 | 27,269 | |||||||
Transportation and other | 5,452 | 5,610 | 15,609 | 21,002 | |||||||
Total | 209,169 | 147,586 | 574,636 | 445,655 | |||||||
Operating Income | 155,028 | 131,746 | 424,336 | 443,496 | |||||||
Interest: | |||||||||||
Charges | (6,044 | ) | (10,255 | ) | (22,115 | ) | (36,934 | ) | |||
Income | 587 | 446 | 1,482 | 1,380 | |||||||
Capitalized | 3,441 | 4,246 | 11,457 | 12,377 | |||||||
Total Interest Expense | (2,016 | ) | (5,563 | ) | (9,176 | ) | (23,177 | ) | |||
Loss on Debt Extinguishment | — | (5,893 | ) | (10,893 | ) | (5,893 | ) | ||||
Foreign Currency Transaction Gain (Loss) | 287 | 587 | 1,439 | 1,149 | |||||||
Income Before Income Taxes | 153,299 | 120,877 | 405,706 | 415,575 | |||||||
Income Tax Expense (Benefit) | 66,687 | 53,217 | 182,265 | 175,553 | |||||||
Income Before Change in Accounting Principle | 86,612 | 67,660 | 223,441 | 240,022 | |||||||
Change in accounting principle | — | — | — | (4,166 | ) | ||||||
Net Income | 86,612 | 67,660 | 223,441 | 235,856 | |||||||
Basic earnings per share | |||||||||||
Before change in accounting principle | 1.36 | 1.07 | 3.50 | 3.86 | |||||||
Change in accounting principle | — | — | — | (0.07 | ) | ||||||
Basic earnings per share | 1.36 | 1.07 | 3.50 | 3.79 | |||||||
Diluted earnings per share | |||||||||||
Before change in accounting principle | 1.35 | 1.06 | 3.47 | 3.74 | |||||||
Change in accounting principle | — | — | — | (0.07 | ) | ||||||
Diluted earnings per share | 1.35 | 1.06 | 3.47 | 3.67 | |||||||
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: | |||||||||||
Basic shares | 63,846 | 63,379 | 63,780 | 62,170 | |||||||
Diluted shares | 64,334 | 63,963 | 64,323 | 64,826 | |||||||
Discretionary Cash Flow: | |||||||||||
Net Income | 86,612 | 67,660 | 223,441 | 235,856 | |||||||
Change in accounting principle | — | — | — | 4,166 | |||||||
Depreciation, depletion and amortization | 96,759 | 79,688 | 277,212 | 244,454 | |||||||
Deferred Taxes | (10,117 | ) | 25,692 | (5,366 | ) | 32,961 | |||||
Dry Hole and Impairment | 18,085 | 4,568 | 54,550 | 10,666 | |||||||
Exploration | 5,186 | 1,432 | 18,573 | 5,091 | |||||||
(Gains) Losses on Property Sales | 341 | (3 | ) | 76 | 87 | ||||||
Capitalized Interest | (3,441 | ) | (4,246 | ) | (11,457 | ) | (12,377 | ) | |||
Other Noncash | 3,043 | 16,164 | 17,250 | 25,953 | |||||||
Total | 196,468 | 190,955 | 574,279 | 546,857 | |||||||
- *
- Supplemental Information should be read in conjunction with Pogo's Quarterly Earnings Release