Exhibit 99.2
Pogo Producing Company
Supplemental Information (Unaudited) (1)
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| Quarter Ended |
| Nine Months Ended |
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Financial Data |
| September 30 |
| September 30 |
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(Data in $ thousands, except per share amounts) |
| 2007 |
| 2006 |
| 2007 |
| 2006 |
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Revenues: |
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Oil and gas |
| $ | 200,311 |
| $ | 228,077 |
| $ | 631,233 |
| $ | 708,056 |
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Other |
| 761 |
| 4,042 |
| 4,309 |
| 5,265 |
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Total |
| 201,072 |
| 232,119 |
| 635,542 |
| 713,321 |
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Operating Expenses: |
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Lease operating |
| 37,980 |
| 45,771 |
| 134,542 |
| 132,224 |
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General and administrative |
| 27,363 |
| 31,835 |
| 84,257 |
| 73,282 |
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Exploration |
| 5,586 |
| 3,092 |
| 19,588 |
| 4,766 |
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Dry hole and impairment |
| 7,765 |
| 32,381 |
| 59,431 |
| 68,289 |
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Depreciation, depletion and amortization |
| 79,476 |
| 72,065 |
| 243,432 |
| 199,321 |
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Production and other taxes |
| 14,000 |
| 19,632 |
| 46,947 |
| 47,624 |
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(Gain) loss on property sales |
| (2,433 | ) | 3,031 |
| (131,915 | ) | (305,330 | ) | ||||
Other |
| 16,696 |
| (2,620 | ) | 29,824 |
| 8,003 |
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Total |
| 186,433 |
| 205,187 |
| 486,106 |
| 228,179 |
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Operating Income (Loss) |
| 14,639 |
| 26,932 |
| 149,436 |
| 485,142 |
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Interest: |
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Charges |
| (31,418 | ) | (41,323 | ) | (115,166 | ) | (105,612 | ) | ||||
Income |
| 10,341 |
| 60 |
| 10,430 |
| 278 |
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Capitalized |
| 13,514 |
| 21,617 |
| 53,456 |
| 56,442 |
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Total Interest Expense |
| (7,563 | ) | (19,646 | ) | (51,280 | ) | (48,892 | ) | ||||
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Loss on Debt Extinguishment |
| (6,930 | ) | — |
| (6,930 | ) | — |
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Commodity Derivative Income (Expense) |
| (1,699 | ) | 10,545 |
| (6,346 | ) | 6,752 |
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Foreign Currency Transaction Gain (Loss) |
| (25 | ) | 2 |
| — |
| 25 |
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Income (Loss) From Operations Before Income Taxes |
| (1,578 | ) | 17,833 |
| 84,880 |
| 443,027 |
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Income Tax Expense (Benefit) |
| (1,289 | ) | 6,720 |
| 22,890 |
| 49,493 |
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Net Income from continuing operations |
| (289 | ) | 11,113 |
| 61,990 |
| 393,534 |
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Income (loss) from discontinued operations, net of tax |
| (45,607 | ) | 22,225 |
| (173,894 | ) | 69,158 |
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Net income (loss) |
| $ | (45,896 | ) | $ | 33,338 |
| $ | (111,904 | ) | $ | 462,692 |
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Basic earnings per share |
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Income from continuing operations |
| $ | — |
| $ | 0.19 |
| $ | 1.07 |
| $ | 6.83 |
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Income (loss) from discontinued operations |
| (0.79 | ) | 0.39 |
| (3.00 | ) | 1.21 |
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Basic earnings (loss) per share |
| $ | (0.79 | ) | $ | 0.58 |
| $ | (1.93 | ) | $ | 8.04 |
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Diluted earnings per share |
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Income from continuing operations |
| $ | — |
| $ | 0.19 |
| $ | 1.06 |
| $ | 6.78 |
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Income (loss) from discontinued operations |
| (0.79 | ) | 0.39 |
| (2.97 | ) | 1.19 |
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Diluted earnings (loss) per share |
| $ | (0.79 | ) | $ | 0.58 |
| $ | (1.91 | ) | $ | 7.97 |
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Weighted Average Number of Common Shares |
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and Potential Common Shares Outstanding: |
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Basic shares |
| 58,164 |
| 57,618 |
| 58,074 |
| 57,578 |
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Diluted shares |
| 58,164 |
| 57,863 |
| 58,492 |
| 58,047 |
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Discretionary Cash Flow: |
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Net Income (loss) |
| $ | (45,896 | ) | $ | 33,338 |
| $ | (111,904 | ) | $ | 462,692 |
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(Income) loss from discontinued operations, net of tax |
| 45,607 |
| (22,225 | ) | 173,894 |
| (69,158 | ) | ||||
Depreciation, depletion and amortization |
| 79,476 |
| 72,065 |
| 243,432 |
| 199,321 |
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Deferred taxes |
| 21,848 |
| 56,440 |
| (53,138 | ) | (45,814 | ) | ||||
Dry hole and impairment |
| 7,765 |
| 32,381 |
| 59,431 |
| 68,289 |
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Exploration |
| 5,586 |
| 3,092 |
| 19,588 |
| 4,766 |
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(Gain) loss on property sales |
| (2,433 | ) | 3,031 |
| (131,915 | ) | (305,330 | ) | ||||
Other noncash |
| 8,137 |
| (33,144 | ) | 8,499 |
| (55,029 | ) | ||||
Discretionary cash flow from operationsbefore changes in assets and liabilities |
| 120,090 |
| 144,978 |
| 207,887 |
| 259,737 |
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Discretionary cash flow from discontinued operations |
| (29,323 | ) | 75,276 |
| 131,110 |
| 229,545 |
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Total |
| $ | 90,767 |
| $ | 220,254 |
| $ | 338,997 |
| $ | 489,282 |
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(1) Supplemental Information should be read in conjunction with Pogo's Quarterly Earnings Release