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