Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) (1) (2)
|
| Quarter Ended |
| ||||
Financial Data |
| March 31, |
| ||||
(Data in $ thousands, except per share amounts) |
| 2006 |
| 2005 |
| ||
|
|
|
|
|
| ||
Revenues: |
|
|
|
|
| ||
Oil and gas |
| $ | 354,467 |
| $ | 254,062 |
|
Other |
| 19,071 |
| 1,684 |
| ||
Total |
| 373,538 |
| 255,746 |
| ||
|
|
|
|
|
| ||
Operating Expenses: |
|
|
|
|
| ||
Lease operating |
| 57,147 |
| 28,721 |
| ||
General and administrative |
| 28,650 |
| 18,725 |
| ||
Exploration |
| 2,686 |
| 11,179 |
| ||
Dry hole and impairment |
| 25,634 |
| 47,355 |
| ||
Depreciation, depletion and amortization |
| 110,136 |
| 70,458 |
| ||
Production and other taxes |
| 13,507 |
| 11,176 |
| ||
Transportation and other |
| 25,481 |
| (5,567 | ) | ||
Total |
| 263,241 |
| 182,047 |
| ||
|
|
|
|
|
| ||
Operating Income |
| 110,297 |
| 73,699 |
| ||
|
|
|
|
|
| ||
Interest: |
|
|
|
|
| ||
Charges |
| (28,324 | ) | (10,211 | ) | ||
Income |
| 474 |
| 817 |
| ||
Capitalized |
| 16,178 |
| 2,197 |
| ||
Total Interest Expense |
| (11,672 | ) | (7,197 | ) | ||
|
|
|
|
|
| ||
Loss on Debt Extinguishment |
| — |
| — |
| ||
|
|
|
|
|
| ||
Commodity Derivative Expense |
| 3,313 |
| — |
| ||
|
|
|
|
|
| ||
Foreign Currency Transaction Gain (Loss) |
| (204 | ) | 10 |
| ||
|
|
|
|
|
| ||
Income from continuing operations before income taxes |
| 101,734 |
| 66,512 |
| ||
|
|
|
|
|
| ||
Income tax expense |
| 34,263 |
| 27,003 |
| ||
|
|
|
|
|
| ||
Net Income from continuing operations |
| 67,471 |
| 39,509 |
| ||
|
|
|
|
|
| ||
Income (loss) from discontinued operations, net of tax |
| — |
| 19,727 |
| ||
|
|
|
|
|
| ||
Net income |
| $ | 67,471 |
| $ | 59,236 |
|
|
|
|
|
|
| ||
Basic earnings per share |
|
|
|
|
| ||
Income from continuing operations |
| $ | 1.18 |
| $ | 0.62 |
|
Income (loss) from discontinued operations |
| — |
| 0.31 |
| ||
|
|
|
|
|
| ||
Basic earnings per share |
| $ | 1.18 |
| $ | 0.93 |
|
|
|
|
|
|
| ||
Diluted earnings per share |
|
|
|
|
| ||
Income from continuing operations |
| $ | 1.16 |
| $ | 0.62 |
|
Income (loss) from discontinued operations |
| — |
| 0.31 |
| ||
|
|
|
|
|
| ||
Diluted earnings per share |
| $ | 1.16 |
| $ | 0.93 |
|
|
|
|
|
|
| ||
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
|
|
|
|
| ||
Basic shares |
| 57,334 |
| 63,506 |
| ||
Diluted shares |
| 57,953 |
| 64,067 |
| ||
|
|
|
|
|
| ||
Discretionary Cash Flow: |
|
|
|
|
| ||
Net Income |
| $ | 67,471 |
| $ | 59,236 |
|
(Income) loss from discontinued operations, net of tax |
| — |
| (19,727 | ) | ||
Depreciation, depletion and amortization |
| 110,136 |
| 70,458 |
| ||
Deferred Taxes |
| 1,042 |
| (6,865 | ) | ||
Dry Hole and Impairment |
| 25,634 |
| 47,355 |
| ||
Exploration |
| 2,686 |
| 11,285 |
| ||
Gains on Property Sales |
| 23 |
| (250 | ) | ||
Capitalized Interest |
| (16,178 | ) | (2,197 | ) | ||
Other Noncash |
| 1,447 |
| (788 | ) | ||
Net cash provided by continuing operations before changes in assets and liabilities |
| 192,261 |
| 158,507 |
| ||
Discretionary cash flow of discontinued operations |
| — |
| 57,890 |
| ||
|
|
|
|
|
| ||
Total |
| $ | 192,261 |
| $ | 216,397 |
|
(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.