PXP Producing (PPP) 8-K Results Spurred by High Prices, Natural Gas Production

Exhibit 99.2

Pogo Producing Company

Supplemental  Information (Unaudited) *

	Three Months
Financial Data	March 31,
(Data in $ thousands, except per share amounts)	2005		2004
Revenues:
Oil and Gas	355,700		307,327
Other	13,090		555
Total	368,790		307,882
Operating Expenses:
Lease Operating	40,249		34,875
General & Administrative	20,727		17,232
Exploration	11,285		8,471
Dry hole and impairment	47,403		11,623
Depreciation, depletion and amortization	100,645		87,339
Production and other taxes	21,799		9,538
Transportation and other	6,296		5,125
Total	248,404		174,203
Operating Income	120,386		133,679
Interest:
Charges	(10,211	)	(9,444	)
Income	1,210		452
Capitalized	2,197		4,548
Total Interest Expense	(6,804	)	(4,444	)
Loss on Debt Extinguishment	—		—
Foreign Currency Transaction Gain (Loss)	179		(44	)
Income Before Income Taxes	113,761		129,191
Income Tax Expense (Benefit)	54,525		57,551
Net Income	59,236		71,640
Basic earnings per share	0.93		1.13
Diluted earnings per share	0.93		1.12
Weighted Average Number of Common Shares and Potential Common Shares Outstanding:
Basic shares	63,506		63,668
Diluted shares	64,067		64,213
Discretionary Cash Flow:
Net Income	59,236		71,640
Depreciation, depletion and amortization	100,645		87,339
Deferred Taxes	882		1,439
Dry Hole and Impairment	47,403		11,623
Exploration	11,285		8,471
(Gains) Losses on Property Sales	(250	)	(228	)
Capitalized Interest	(2,197	)	(4,548	)
Other Noncash	4,156		2,041
Total	221,160		177,777

* Supplemental Information should be read in conjunction with Pogo’s Quarterly Earnings Release