Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) (1) (2)
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| Quarter Ended |
| Six Months Ended |
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Financial Data |
| 2006 |
| 2005 |
| 2006 |
| 2005 |
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(Data in $thousands, except per share amounts) |
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Revenues: |
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Oil and gas |
| $ | 357,070 |
| $ | 274,044 |
| $ | 711,537 |
| $ | 528,106 |
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Gain (loss) on property sales |
| 308,357 |
| — |
| 308,334 |
| 250 |
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Other |
| 9,163 |
| 520 |
| 28,257 |
| 1,954 |
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Total |
| 674,590 |
| 274,564 |
| 1,048,128 |
| 530,310 |
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Operating Expenses: |
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Lease operating |
| 68,259 |
| 33,464 |
| 125,406 |
| 62,185 |
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General and administrative |
| 30,137 |
| 18,320 |
| 58,787 |
| 37,045 |
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Exploration |
| 5,272 |
| 3,319 |
| 7,958 |
| 14,498 |
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Dry hole and impairment |
| 12,367 |
| 6,502 |
| 38,001 |
| 53,857 |
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Depreciation, depletion and amortization |
| 113,393 |
| 67,923 |
| 223,529 |
| 138,381 |
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Production and other taxes |
| 20,121 |
| 14,190 |
| 33,628 |
| 25,366 |
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Transportation and other |
| 16,619 |
| 4,409 |
| 42,100 |
| (1,158 | ) | ||||
Total |
| 266,168 |
| 148,127 |
| 529,409 |
| 330,174 |
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Operating Income |
| 408,422 |
| 126,437 |
| 518,719 |
| 200,136 |
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Interest: |
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Charges |
| (36,210 | ) | (13,850 | ) | (64,534 | ) | (24,061 | ) | ||||
Income |
| 643 |
| 1,369 |
| 1,117 |
| 2,186 |
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Capitalized |
| 18,647 |
| 2,713 |
| 34,825 |
| 4,910 |
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Total Interest Expense |
| (16,920 | ) | (9,768 | ) | (28,592 | ) | (16,965 | ) | ||||
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Loss on Debt Extinguishment |
| — |
| — |
| — |
| — |
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Commodity Derivative Expense |
| (7,106 | ) | — |
| (3,793 | ) | — |
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Foreign Currency Transaction Gain (Loss) |
| 1,273 |
| (8 | ) | 1,069 |
| 2 |
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Income from continuing operations before income taxes |
| 385,669 |
| 116,661 |
| 487,403 |
| 183,173 |
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Income tax expense |
| 23,786 |
| 42,683 |
| 58,049 |
| 69,686 |
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Net Income from continuing operations |
| 361,883 |
| 73,978 |
| 429,354 |
| 113,487 |
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Income (loss) from discontinued operations, net of tax |
| — |
| 29,461 |
| — |
| 49,188 |
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Net income |
| $ | 361,883 |
| $ | 103,439 |
| $ | 429,354 |
| $ | 162,675 |
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Basic earnings per share |
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Income from continuing operations |
| $ | 6.31 |
| $ | 1.23 |
| $ | 7.48 |
| $ | 1.83 |
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Income (loss) from discontinued operations |
| — |
| 0.48 |
| — |
| 0.80 |
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Basic earnings per share |
| $ | 6.31 |
| $ | 1.71 |
| $ | 7.48 |
| $ | 2.63 |
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Diluted earnings per share |
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Income from continuing operations |
| $ | 6.25 |
| $ | 1.22 |
| $ | 7.41 |
| $ | 1.82 |
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Income (loss) from discontinued operations |
| — |
| 0.48 |
| — |
| 0.78 |
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Diluted earnings per share |
| $ | 6.25 |
| $ | 1.70 |
| $ | 7.41 |
| $ | 2.60 |
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Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
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Basic shares |
| 57,385 |
| 60,342 |
| 57,366 |
| 61,925 |
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Diluted shares |
| 57,930 |
| 60,909 |
| 57,948 |
| 62,489 |
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Discretionary Cash Flow: |
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Net Income |
| $ | 361,883 |
| $ | 103,439 |
| $ | 429,354 |
| $ | 162,675 |
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(Income) loss from discontinued operations, net of tax |
| — |
| (29,461 | ) | — |
| (49,188 | ) | ||||
Depreciation, depletion and amortization |
| 113,393 |
| 67,923 |
| 223,529 |
| 138,381 |
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Deferred Taxes |
| (101,179 | ) | (2,192 | ) | (100,137 | ) | (9,057 | ) | ||||
Dry Hole and Impairment |
| 12,367 |
| 6,502 |
| 38,001 |
| 53,857 |
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Exploration |
| 5,272 |
| 3,319 |
| 7,958 |
| 14,498 |
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Gains on Property Sales |
| (308,357 | ) | — |
| (308,334 | ) | (250 | ) | ||||
Capitalized Interest |
| (18,647 | ) | (2,713 | ) | (34,825 | ) | (4,910 | ) | ||||
Other Noncash |
| 12,035 |
| 2,180 |
| 13,482 |
| 1,392 |
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Discretionary cash flow from continuing operations |
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before changes in assets and liabilities |
| 76,767 |
| 148,997 |
| 269,028 |
| 307,398 |
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Discretionary cash flow from discontinued operations |
| — |
| 42,215 |
| — |
| 100,211 |
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Total |
| $ | 76,767 |
| $ | 191,212 |
| $ | 269,028 |
| $ | 407,609 |
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(1) Supplemental Information should be read in conjunction with Pogo's Quarterly Earnings Release
(2) Results from continuing operations for 2005 exclude activities from Thailand and Hungary.