Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) *
Financial Data |
| Quarter Ended |
| Six Months |
| |||||
(Data in $ thousands, except per share amounts) |
| 2004 |
| 2003 |
| 2004 |
| 2003 |
| |
|
|
|
|
|
|
|
|
|
| |
Revenues: |
|
|
|
|
|
|
|
|
| |
Oil and Gas |
| 326,659 |
| 297,077 |
| 633,986 |
| 608,863 |
| |
Other |
| 234 |
| 69 |
| 789 |
| 956 |
| |
Total |
| 326,893 |
| 297,146 |
| 634,775 |
| 609,819 |
| |
|
|
|
|
|
|
|
|
|
| |
Operating Expenses: |
|
|
|
|
|
|
|
|
| |
Lease Operating |
| 32,350 |
| 29,752 |
| 67,225 |
| 60,543 |
| |
General & Administrative |
| 16,774 |
| 15,054 |
| 34,006 |
| 28,426 |
| |
Exploration |
| 4,916 |
| 1,827 |
| 13,387 |
| 3,659 |
| |
Dry hole and impairment |
| 24,842 |
| 3,920 |
| 36,465 |
| 6,098 |
| |
Depreciation, depletion and amortization |
| 93,114 |
| 84,347 |
| 180,453 |
| 164,766 |
| |
Production and other taxes |
| 14,236 |
| 10,231 |
| 23,774 |
| 19,185 |
| |
Transportation and other |
| 5,032 |
| 8,099 |
| 10,157 |
| 15,392 |
| |
Total |
| 191,264 |
| 153,230 |
| 365,467 |
| 298,069 |
| |
|
|
|
|
|
|
|
|
|
| |
Operating Income |
| 135,629 |
| 143,916 |
| 269,308 |
| 311,750 |
| |
|
|
|
|
|
|
|
|
|
| |
Interest: |
|
|
|
|
|
|
|
|
| |
Charges |
| (6,627 | ) | (12,984 | ) | (16,071 | ) | (26,679 | ) | |
Income |
| 443 |
| 547 |
| 895 |
| 934 |
| |
Capitalized |
| 3,468 |
| 4,117 |
| 8,016 |
| 8,131 |
| |
Total Interest Expense |
| (2,716 | ) | (8,320 | ) | (7,160 | ) | (17,614 | ) | |
|
|
|
|
|
|
|
|
|
| |
Loss on Debt Extinguishment |
| (10,893 | ) | — |
| (10,893 | ) | — |
| |
|
|
|
|
|
|
|
|
|
| |
Foreign Currency Transaction Gain (Loss) |
| 1,196 |
| 336 |
| 1,152 |
| 562 |
| |
|
|
|
|
|
|
|
|
|
| |
Income Before Income Taxes |
| 123,216 |
| 135,932 |
| 252,407 |
| 294,698 |
| |
|
|
|
|
|
|
|
|
|
| |
Income Tax Expense (Benefit) |
| 58,027 |
| 56,213 |
| 115,578 |
| 122,336 |
| |
|
|
|
|
|
|
|
|
|
| |
Income Before Change in Accounting Principle |
| 65,189 |
| 79,719 |
| 136,829 |
| 172,362 |
| |
|
|
|
|
|
|
|
|
|
| |
Change in accounting principle |
| — |
| — |
| — |
| (4,166 | ) | |
|
|
|
|
|
|
|
|
|
| |
Net Income |
| 65,189 |
| 79,719 |
| 136,829 |
| 168,196 |
| |
|
|
|
|
|
|
|
|
|
| |
Basic earnings per share |
|
|
|
|
|
|
|
|
| |
Before change in accounting principle |
| 1.02 |
| 1.29 |
| 2.15 |
| 2.80 |
| |
Change in accounting principle |
| — |
| — |
| — |
| (0.07 | ) | |
|
|
|
|
|
|
|
|
|
| |
Basic earnings per share |
| 1.02 |
| 1.29 |
| 2.15 |
| 2.73 |
| |
|
|
|
|
|
|
|
|
|
| |
Diluted earnings per share |
|
|
|
|
|
|
|
|
| |
Before change in accounting principle |
| 1.01 |
| 1.24 |
| 2.13 |
| 2.67 |
| |
Change in accounting principle |
| — |
| — |
| — |
| (0.06 | ) | |
|
|
|
|
|
|
|
|
|
| |
Diluted earnings per share |
| 1.01 |
| 1.24 |
| 2.13 |
| 2.61 |
| |
|
|
|
|
|
|
|
|
|
| |
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
|
|
|
|
|
|
|
|
| |
Basic shares |
| 63,738 |
| 61,961 |
| 63,703 |
| 61,559 |
| |
Diluted shares |
| 64,333 |
| 65,376 |
| 64,273 |
| 65,252 |
| |
|
|
|
|
|
|
|
|
|
| |
Discretionary Cash Flow: |
|
|
|
|
|
|
|
|
| |
Net Income |
| 65,189 |
| 79,719 |
| 136,829 |
| 168,196 |
| |
Change in accounting principle |
| — |
| — |
| — |
| 4,166 |
| |
Depreciation, depletion and amortization |
| 93,114 |
| 84,347 |
| 180,453 |
| 164,766 |
| |
Deferred Taxes |
| 3,312 |
| (9,732 | ) | 4,751 |
| 7,269 |
| |
Dry Hole and Impairment |
| 24,842 |
| 3,920 |
| 36,465 |
| 6,098 |
| |
Exploration |
| 4,916 |
| 1,827 |
| 13,387 |
| 3,659 |
| |
(Gains) Losses on Property Sales |
| (37 | ) | 28 |
| (265 | ) | 90 |
| |
Capitalized Interest |
| (3,468 | ) | (4,117 | ) | (8,016 | ) | (8,131 | ) | |
Other Noncash |
| 12,166 |
| 4,569 |
| 14,207 |
| 9,789 |
| |
Total |
|
| 200,034 |
| 160,561 |
| 377,811 |
| 355,902 |
|
* Supplemental Information should be read in conjunction with Pogo’s Quarterly Earnings Release