EXHIBIT 1
Page 1 of 2
TAX-ADVANTAGED SAVINGS PLAN OF
POGO PRODUCING COMPANY
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND NFORMATION
DECEMBER 31, 1997
NONPARTICIPANT-
PARTICIPANT-DIRECTED DIRECTED
----------------------------------------------------------------- ------------
POGO MONEY CORPORATE INDEX POGO
COMMON STOCK MARKET BOND WELLINGTON 500 PRIMECAP COMMON
FUND FUND FUND FUND FUND FUND STOCK FUND TOTAL
---------- -------- -------- ---------- -------- ---------- ---------- -----------
INVESTMENTS, at quoted market value:
Common stock of Pogo Producing
Company .............................. $1,943,834 $ -- $ -- $ -- $ -- $ -- $6,760,938 $ 8,704,772
Prime Portfolio Money Market Fund ..... -- 870,442 -- -- -- -- -- 870,442
Investment Grade Corporate
Portfolio Bond Fund .................. -- -- 527,742 -- -- -- -- 527,742
Vanguard/Wellington Fund .............. -- -- -- 1,180,000 -- -- -- 1,180,000
Vanguard/Index Trust - 500 Portfolio .. -- -- -- -- 758,867 -- -- 758,867
Vanguard PrimeCap Fund ................ -- -- -- -- -- 2,240,276 -- 2,240,276
CONTRIBUTIONS RECEIVABLE ................ 8,302 2,089 4,808 7,181 7,455 12,019 28,703 70,557
CASH .................................... -- 3,267 -- -- -- -- -- 3,267
---------- -------- -------- ---------- -------- ---------- ---------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS .. $1,952,136 $875,798 $532,550 $1,187,181 $766,322 $2,252,295 $6,789,641 $14,355,923
========== ======== ======== ========== ======== ========== ========== ===========
This exhibit is an integral part of the accompanying financial statements.
EXHIBIT 1
Page 2 of 2
TAX-ADVANTAGED SAVINGS PLAN OF
POGO PRODUCING COMPANY
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
DECEMBER 31, 1996
NONPARTICIPANT-
PARTICIPANT-DIRECTED DIRECTED
----------------------------------------------------------------- ------------
POGO MONEY CORPORATE INDEX POGO
COMMON STOCK MARKET BOND WELLINGTON 500 PRIMECAP COMMON
FUND FUND FUND FUND FUND FUND STOCK FUND TOTAL
---------- -------- -------- ---------- -------- ---------- ---------- -----------
INVESTMENTS, at quoted market value:
Common stock of Pogo Producing
Company ............................... $3,165,797 $ -- $ -- $ -- $ -- $ -- $10,802,342 $13,968,139
Prime Portfolio Money Market Fund ...... -- 745,511 -- -- -- -- -- 745,511
Investment Grade Corporate
Portfolio Bond Fund ................... -- -- 499,790 -- -- -- -- 499,790
Vanguard/Wellington Fund ............... -- -- -- 817,075 -- -- -- 817,075
Vanguard/Index Trust - 500 Portfolio ... -- -- -- -- 487,959 -- -- 487,959
Vanguard PrimeCap Fund ................. -- -- -- -- -- 1,526,522 -- 1,526,522
CONTRIBUTIONS RECEIVABLE ................. 9,585 1,765 3,571 5,519 4,914 8,816 24,033 58,203
CASH ..................................... -- 2,194 -- -- -- -- -- 2,194
---------- -------- -------- -------- -------- ---------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS ... $3,175,382 $749,470 $503,361 $822,594 $492,873 $1,535,338 $10,826,375 $18,105,393
========== ======== ======== ======== ======== ========== =========== ===========
This exhibit is an integral part of the accompanying financial statements.