PXP Producing (PPP) 8-K Results of Operations and Financial Condition

Exhibit 99.2

Pogo Producing Company

Supplemental  Information (Unaudited) (1)

	Quarter Ended
Financial Data	March 31
(Data in $ thousands, except per share amounts)	2007			2006
Revenues:
Oil and gas	$	321,210		$	354,467
Gain (loss) on property sales	2,311			(23		)
Other	27,885			19,094
Total	351,406			373,538
Operating Expenses:
Lease operating	67,495			57,147
General and administrative	34,711			28,650
Exploration	9,578			2,686
Dry hole and impairment	71,749			25,634
Depreciation, depletion and amortization	133,877			110,136
Production and other taxes	20,041			13,507
Natural gas purchases	24,834			17,860
Other	7,535			7,621
Total	369,820			263,241
Operating Income (Loss)	(18,414		)	110,297
Interest:
Charges	(42,973		)	(28,324		)
Income	456			474
Capitalized	19,405			16,178
Total Interest Expense	(23,112		)	(11,672		)
Loss on Debt Extinguishment	-			-
Commodity Derivative Income (Expense)	(3,106		)	3,313
Foreign Currency Transaction Gain (Loss)	861			(204		)
Income (Loss) From Operations Before Income Taxes	(43,771		)	101,734
Income Tax Expense (Benefit)	(22,576		)	34,263
Net income	$	(21,195	)	$	67,471
Basic earnings (loss) per share	$	(0.37	)	$	1.18
Diluted earnings (loss) per share	$	(0.37	)	$	1.16
Weighted Average Number of Common Shares and Potential Common Shares Outstanding:
Basic shares	57,701			57,334
Diluted shares	57,701			57,953
Discretionary Cash Flow:
Net Income (loss)	$	(21,195	)	$	67,471
Depreciation, depletion and amortization	133,877			110,136
Deferred taxes	(26,049		)	1,042
Dry hole and impairment	71,749			25,634
Exploration	9,578			2,686
(Gain) loss on property sales	(2,311		)	23
Other noncash	(2,075		)	(14,731		)
Discretionary cash flow from operations before changes in assets and liabilities	163,574			192,261
Total	$	163,574		$	192,261

(1)Supplemental Information should be read in conjunction with Pogo's Quarterly Earnings Release