Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) *
Financial Data |
| Three Months Ended |
| ||
(Data in $thousands, except per share amounts) |
| 2004 |
| 2003 |
|
|
|
|
|
|
|
Revenues: |
|
|
|
|
|
Oil and Gas |
| 307,327 |
| 311,786 |
|
Other |
| 555 |
| 887 |
|
Total |
| 307,882 |
| 312,673 |
|
|
|
|
|
|
|
Operating Expenses: |
|
|
|
|
|
Lease Operating |
| 34,875 |
| 30,791 |
|
General & Administrative |
| 17,232 |
| 13,372 |
|
Exploration |
| 8,471 |
| 1,832 |
|
Dry hole and impairment |
| 11,623 |
| 2,178 |
|
Depreciation, depletion and amortization |
| 87,339 |
| 80,419 |
|
Production and other taxes |
| 9,538 |
| 8,954 |
|
Transportation and other |
| 5,125 |
| 7,293 |
|
Total |
| 174,203 |
| 144,839 |
|
|
|
|
|
|
|
Operating Income |
| 133,679 |
| 167,834 |
|
|
|
|
|
|
|
Interest: |
|
|
|
|
|
Charges |
| (9,444 | ) | (13,695 | ) |
Income |
| 452 |
| 387 |
|
Capitalized |
| 4,548 |
| 4,014 |
|
Total Interest Expense |
| (4,444 | ) | (9,294 | ) |
|
|
|
|
|
|
Foreign Currency Transaction Gain (Loss) |
| (44 | ) | 226 |
|
|
|
|
|
|
|
Income Before Income Taxes |
| 129,191 |
| 158,766 |
|
|
|
|
|
|
|
Income Tax Expense (Benefit) |
| 57,551 |
| 66,123 |
|
|
|
|
|
|
|
Income Before Change in Accounting Principle |
| 71,640 |
| 92,643 |
|
|
|
|
|
|
|
Change in accounting principle |
| — |
| (4,166 | ) |
|
|
|
|
|
|
Net Income |
| 71,640 |
| 88,477 |
|
|
|
|
|
|
|
Basic earnings per share |
|
|
|
|
|
Before change in accounting principle |
| 1.13 |
| 1.52 |
|
Change in accounting principle |
| — |
| (0.07 | ) |
|
|
|
|
|
|
Basic earnings per share |
| 1.13 |
| 1.45 |
|
|
|
|
|
|
|
Diluted earnings per share |
|
|
|
|
|
Before change in accounting principle |
| 1.12 |
| 1.44 |
|
Change in accounting principle |
| — |
| (0.07 | ) |
|
|
|
|
|
|
Diluted earnings per share |
| 1.12 |
| 1.37 |
|
|
|
|
|
|
|
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
|
|
|
|
|
Basic shares |
| 63,668 |
| 61,157 |
|
Diluted shares |
| 64,213 |
| 65,128 |
|
|
|
|
|
|
|
Discretionary Cash Flow: |
|
|
|
|
|
Net Income |
| 71,640 |
| 88,477 |
|
Change in accounting principle |
| — |
| 4,166 |
|
Depreciation, depletion and amortization |
| 87,339 |
| 80,419 |
|
Deferred Taxes |
| 1,439 |
| 17,001 |
|
Dry Hole and Impairment |
| 11,623 |
| 2,178 |
|
Exploration |
| 8,471 |
| 1,832 |
|
(Gains) Losses on Property Sales |
| (228 | ) | 62 |
|
Capitalized Interest |
| (4,548 | ) | (4,014 | ) |
Other Noncash |
| 2,041 |
| 5,220 |
|
Total |
| 177,777 |
| 195,341 |
|
* Supplemental Information should be read in conjunction with Pogo’s Quarterly Earnings Release