Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) (1) (2)
Financial Data |
| Quarter Ended |
| Nine Months Ended |
| ||||||||
(Data in $ thousands, except per share amounts) |
| 2006 |
| 2005 |
| 2006 |
| 2005 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Revenues: |
|
|
|
|
|
|
|
|
| ||||
Oil and gas |
| $ | 340,603 |
| $ | 275,359 |
| $ | 1,052,140 |
| $ | 803,465 |
|
Gain (loss) on property sales |
| (3,031 | ) | (23 | ) | 305,303 |
| 227 |
| ||||
Other |
| 16,197 |
| 476 |
| 44,454 |
| 2,430 |
| ||||
Total |
| 353,769 |
| 275,812 |
| 1,401,897 |
| 806,122 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Operating Expenses: |
|
|
|
|
|
|
|
|
| ||||
Lease operating |
| 66,542 |
| 31,345 |
| 191,948 |
| 93,530 |
| ||||
General and administrative |
| 39,747 |
| 23,173 |
| 98,534 |
| 60,218 |
| ||||
Exploration |
| 6,437 |
| 7,566 |
| 14,395 |
| 22,064 |
| ||||
Dry hole and impairment |
| 36,273 |
| 5,254 |
| 74,274 |
| 59,111 |
| ||||
Depreciation, depletion and amortization |
| 121,830 |
| 67,498 |
| 345,359 |
| 205,879 |
| ||||
Production and other taxes |
| 22,404 |
| 13,806 |
| 56,032 |
| 39,172 |
| ||||
Other |
| 11,768 |
| (1,857 | ) | 53,868 |
| (3,015 | ) | ||||
Total |
| 305,001 |
| 146,785 |
| 834,410 |
| 476,959 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Operating Income |
| 48,768 |
| 129,027 |
| 567,487 |
| 329,163 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Interest: |
|
|
|
|
|
|
|
|
| ||||
Charges |
| (41,324 | ) | (16,831 | ) | (105,858 | ) | (40,892 | ) | ||||
Income |
| 374 |
| 5,507 |
| 1,491 |
| 7,693 |
| ||||
Capitalized |
| 21,617 |
| 2,525 |
| 56,442 |
| 7,435 |
| ||||
Total Interest Expense |
| (19,333 | ) | (8,799 | ) | (47,925 | ) | (25,764 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Loss on Debt Extinguishment |
| — |
| — |
| — |
| — |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Commodity Derivative Income (Expense) |
| 10,545 |
| (18,739 | ) | 6,752 |
| (18,739 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Foreign Currency Transaction Gain (Loss) |
| (2 | ) | (1 | ) | 1,067 |
| 1 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Income from continuing operations before income taxes |
| 39,978 |
| 101,488 |
| 527,381 |
| 284,661 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Income tax expense |
| 6,640 |
| 39,585 |
| 64,689 |
| 109,271 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Net Income from continuing operations |
| 33,338 |
| 61,903 |
| 462,692 |
| 175,390 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Income (loss) from discontinued operations, net of tax |
| — |
| 411,625 |
| — |
| 460,813 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Net income |
| $ | 33,338 |
| $ | 473,528 |
| $ | 462,692 |
| $ | 636,203 |
|
|
|
|
|
|
|
|
|
|
| ||||
Basic earnings per share |
|
|
|
|
|
|
|
|
| ||||
Income from continuing operations |
| $ | 0.58 |
| $ | 1.04 |
| $ | 8.04 |
| $ | 2.87 |
|
Income (loss) from discontinued operations |
| — |
| 6.92 |
| — |
| 7.53 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Basic earnings per share |
| $ | 0.58 |
| $ | 7.96 |
| $ | 8.04 |
| $ | 10.40 |
|
|
|
|
|
|
|
|
|
|
| ||||
Diluted earnings per share |
|
|
|
|
|
|
|
|
| ||||
Income from continuing operations |
| $ | 0.58 |
| $ | 1.03 |
| $ | 7.97 |
| $ | 2.84 |
|
Income (loss) from discontinued operations |
| — |
| 6.86 |
| — |
| 7.47 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Diluted earnings per share |
| $ | 0.58 |
| $ | 7.89 |
| $ | 7.97 |
| $ | 10.31 |
|
|
|
|
|
|
|
|
|
|
| ||||
Weighted Average Number of Common Shares and Potential Common Shares Outstanding: |
|
|
|
|
|
|
|
|
| ||||
Basic shares |
| 57,618 |
| 59,512 |
| 57,578 |
| 61,176 |
| ||||
Diluted shares |
| 57,863 |
| 60,033 |
| 58,047 |
| 61,726 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Discretionary Cash Flow: |
|
|
|
|
|
|
|
|
| ||||
Net Income |
| $ | 33,338 |
| $ | 473,528 |
| $ | 462,692 |
| $ | 636,203 |
|
(Income) loss from discontinued operations, net of tax |
| — |
| (411,625 | ) | — |
| (460,813 | ) | ||||
Depreciation, depletion and amortization |
| 121,830 |
| 67,498 |
| 345,359 |
| 205,879 |
| ||||
Deferred Taxes |
| 51,677 |
| (2,464 | ) | (48,460 | ) | (11,521 | ) | ||||
Dry Hole and Impairment |
| 36,273 |
| 5,254 |
| 74,274 |
| 59,111 |
| ||||
Exploration |
| 6,437 |
| 7,566 |
| 14,395 |
| 22,064 |
| ||||
Gains on Property Sales |
| 3,031 |
| 23 |
| (305,303 | ) | (227 | ) | ||||
Capitalized Interest |
| (21,617 | ) | (2,525 | ) | (56,442 | ) | (7,435 | ) | ||||
Other Noncash |
| (10,715 | ) | 19,996 |
| 2,767 |
| 21,388 |
| ||||
Discretionary cash flow from continuing operations before changes in assets and liabilities |
| 220,254 |
| 157,251 |
| 489,282 |
| 464,649 |
| ||||
Discretionary cash flow from discontinued operations |
| — |
| 19,022 |
| — |
| 119,233 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Total |
| $ | 220,254 |
| $ | 176,273 |
| $ | 489,282 |
| $ | 583,882 |
|
(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.