PXP Producing (PPP) 8-K Pogo Announces Second Quarter 2007 Results

Exhibit 99.2

Pogo Producing Company

Supplemental  Information (Unaudited) (1)

	Quarter Ended						Six Months Ended
Financial Data	June 30						June 30
(Data in $ thousands, except per share amounts)	2007			2006			2007			2006
Revenues:
Oil and gas	$	220,071		$	237,019		$	430,922		$	479,979
Other	2,840			446			3,548			1,223
Total	222,911			237,465			434,470			481,202
Operating Expenses:
Lease operating	49,697			47,231			96,562			86,453
General and administrative	27,692			21,450			56,894			41,447
Exploration	5,892			504			14,002			1,674
Dry hole and impairment	5,444			12,834			51,666			35,908
Depreciation, depletion and amortization	79,620			63,971			163,956			127,256
Production and other taxes	15,303			16,938			32,947			27,992
Net gain on property sales	(127,171		)	(308,357		)	(129,482		)	(308,361		)
Other	7,978			5,760			13,128			10,623
Total	64,455			(139,669		)	299,673			22,992
Operating Income (Loss)	158,456			377,134			134,797			458,210
Interest:
Charges	(40,901		)	(35,970		)	(83,748		)	(64,289		)
Income	18			101			89			218
Capitalized	20,537			18,647			39,942			34,825
Total Interest Expense	(20,346		)	(17,222		)	(43,717		)	(29,246		)
Commodity Derivative Income (Expense)	(1,541		)	(7,106		)	(4,647		)	(3,793		)
Foreign Currency Transaction Gain (Loss)	20			16			25			23
Income (Loss) From Operations Before Income Taxes	136,589			352,822			86,458			425,194
Income Tax Expense (Benefit)	39,686			16,245			24,179			42,773
Net Income from continuing operations	96,903			336,577			62,279			382,421
Income (loss) from discontinued operations, net of tax	(141,716		)	25,306			(128,287		)	46,933
Net income (loss)	$	(44,813	)	$	361,883		$	(66,008	)	$	429,354
Basic earnings per share
Income from continuing operations	$	1.68		$	5.87		$	1.08		$	6.67
Income (loss) from discontinued operations	(2.46		)	0.44			(2.22		)	0.81
Basic earnings (loss) per share	$	(0.78	)	$	6.31		$	(1.14	)	$	7.48
Diluted earnings per share
Income from continuing operations	$	1.65		$	5.81		$	1.06		$	6.60
Income (loss) from discontinued operations	(2.42		)	0.44			(2.19		)	0.81
Diluted earnings (loss) per share	$	(0.77	)	$	6.25		$	(1.13	)	$	7.41
Weighted Average Number of Common Shares and Potential Common Shares Outstanding:
Basic shares	57,817			57,385			57,776			57,366
Diluted shares	58,577			57,930			58,501			57,948
Discretionary Cash Flow:
Net Income (loss)	$	(44,813	)	$	361,883		$	(66,008	)	$	429,354
(Income) loss from discontinued operations, net of tax	141,716			(25,306		)	128,287			(46,933		)
Depreciation, depletion and amortization	79,620			63,971			163,956			127,256
Deferred taxes	(58,701		)	(96,465		)	(74,986		)	(102,254		)
Dry hole and impairment	5,444			12,834			51,666			35,908
Exploration	5,892			504			14,002			1,674
(Gain) loss on property sales	(127,171		)	(308,357		)	(129,482		)	(308,361		)
Other noncash	2,334			(6,161		)	362			(21,885		)
Discretionary cash flow from operations
before changes in assets and liabilities	4,321			2,903			87,797			114,759
Discretionary cash flow from discontinued operations	80,335			73,864			160,433			154,269
Total	$	84,656		$	76,767		$	248,230		$	269,028

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