Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) (1) (2)
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| Quarter Ended |
| Twelve Months Ended |
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Financial Data |
| December 31, |
| December 31, |
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(Data in $ thousands, except per share amounts) |
| 2005 |
| 2004 |
| 2005 |
| 2004 |
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Revenues: |
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Oil and gas |
| $ | 412,782 |
| $ | 228,363 |
| $ | 1,216,247 |
| $ | 973,083 |
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Other |
| 6,795 |
| 2,651 |
| 9,452 |
| 3,472 |
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Total |
| 419,577 |
| 231,014 |
| 1,225,699 |
| 976,555 |
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Operating Expenses: |
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Lease operating |
| 60,129 |
| 29,637 |
| 153,659 |
| 100,506 |
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General and administrative |
| 27,101 |
| 14,347 |
| 87,319 |
| 62,056 |
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Exploration |
| 4,409 |
| 4,352 |
| 26,473 |
| 21,739 |
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Dry hole and impairment |
| 28,059 |
| 40,034 |
| 87,170 |
| 61,634 |
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Depreciation, depletion and amortization |
| 106,368 |
| 57,484 |
| 312,247 |
| 251,876 |
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Production and other taxes |
| 20,355 |
| 12,498 |
| 59,527 |
| 44,104 |
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Transportation and other |
| (6,064 | ) | (6,410 | ) | (9,079 | ) | 8,355 |
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Total |
| 240,357 |
| 151,942 |
| 717,316 |
| 550,270 |
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Operating Income |
| 179,220 |
| 79,072 |
| 508,383 |
| 426,285 |
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Interest: |
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Charges |
| (27,762 | ) | (7,218 | ) | (68,654 | ) | (29,333 | ) | ||||
Income |
| 598 |
| 210 |
| 8,291 |
| 522 |
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Capitalized |
| 16,045 |
| 2,759 |
| 23,480 |
| 14,216 |
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Total Interest Expense |
| (11,119 | ) | (4,249 | ) | (36,883 | ) | (14,595 | ) | ||||
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Loss on Debt Extinguishment |
| — |
| (2,866 | ) | — |
| (13,759 | ) | ||||
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Commodity Derivative Expense |
| 5,121 |
| — |
| (13,618 | ) | — |
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Foreign Currency Transaction Gain (Loss) |
| 70 |
| (27 | ) | 71 |
| (30 | ) | ||||
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Income from continuing operations before income taxes |
| 173,292 |
| 71,930 |
| 457,953 |
| 397,901 |
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Income tax expense |
| 58,613 |
| 25,680 |
| 167,884 |
| 148,866 |
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Net Income from continuing operations |
| 114,679 |
| 46,250 |
| 290,069 |
| 249,035 |
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Income (loss) from discontinued operations, net of tax |
| (179 | ) | (7,937 | ) | 460,634 |
| 12,719 |
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Net income |
| $ | 114,500 |
| $ | 38,313 |
| $ | 750,703 |
| $ | 261,754 |
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Basic earnings per share |
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Income from continuing operations |
| $ | 1.98 |
| $ | 0.72 |
| $ | 4.80 |
| $ | 3.90 |
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Income (loss) from discontinued operations |
| — |
| (0.12 | ) | 7.63 |
| 0.20 |
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Basic earnings per share |
| $ | 1.98 |
| $ | 0.60 |
| $ | 12.43 |
| $ | 4.10 |
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Diluted earnings per share |
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Income from continuing operations |
| $ | 1.96 |
| $ | 0.72 |
| $ | 4.76 |
| $ | 3.87 |
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Income (loss) from discontinued operations |
| — |
| (0.13 | ) | 7.56 |
| 0.19 |
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Diluted earnings per share |
| $ | 1.96 |
| $ | 0.59 |
| $ | 12.32 |
| $ | 4.06 |
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Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
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Basic shares |
| 57,957 |
| 64,053 |
| 60,372 |
| 63,848 |
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Diluted shares |
| 58,515 |
| 64,605 |
| 60,924 |
| 64,393 |
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Discretionary Cash Flow: |
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Net Income |
| $ | 114,500 |
| $ | 38,313 |
| $ | 750,703 |
| $ | 261,754 |
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(Income) loss from discontinued operations, net of tax |
| 179 |
| 7,937 |
| (460,634 | ) | (12,719 | ) | ||||
Depreciation, depletion and amortization |
| 106,368 |
| 57,484 |
| 312,247 |
| 251,876 |
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Deferred Taxes |
| 20,631 |
| (5,893 | ) | 9,110 |
| 3,070 |
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Dry Hole and Impairment |
| 28,059 |
| 40,034 |
| 87,170 |
| 61,634 |
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Exploration |
| 4,409 |
| 4,352 |
| 26,473 |
| 21,739 |
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Gains on Property Sales |
| 155 |
| 202 |
| (72 | ) | 275 |
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Capitalized Interest |
| (16,045 | ) | (2,759 | ) | (23,480 | ) | (14,216 | ) | ||||
Other Noncash |
| (4,210 | ) | (2,878 | ) | 16,747 |
| 15,129 |
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Net cash provided by continuing operations before changes in assets and liabilities |
| 254,046 |
| 136,792 |
| 718,264 |
| 588,542 |
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Discretionary cash flow of discontinued operations |
| — |
| 42,395 |
| 119,233 |
| 164,924 |
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Total |
| $ | 254,046 |
| $ | 179,187 |
| $ | 837,497 |
| $ | 753,466 |
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(1) Supplemental Information should be read in conjunction with Pogo’s Quarterly Earnings Release
(2) Results from continuing operations exclude activities from Thailand and Hungary.