<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) OF POGO PRODUCING COMPANY, INCLUDING THE CONSOLIDATED BALANCE SHEETS AS OF 12-31-1998 AND THE CONSOLIDATED STATEMENTS OF INCOME FOR THE 12 MOS. ENDED 12-31-1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH CONSOLIDATED FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> DEC-31-1998 <CASH> 7,959 <SECURITIES> 0 <RECEIVABLES> 63,031 <ALLOWANCES> 0<F1> <INVENTORY> 11,563 <CURRENT-ASSETS> 85,367 <PP&E> 1,718,284 <DEPRECIATION> 992,759 <TOTAL-ASSETS> 862,396 <CURRENT-LIABILITIES> 107,479 <BONDS> 434,947 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 40,136 <OTHER-SE> 209,524 <TOTAL-LIABILITY-AND-EQUITY> 862,396 <SALES> 202,895<F2> <TOTAL-REVENUES> 202,803 <CGS> 71,213<F3> <TOTAL-COSTS> 71,213<F3> <OTHER-EXPENSES> 188,810<F4> <LOSS-PROVISION> 0<F5> <INTEREST-EXPENSE> 24,682 <INCOME-PRETAX> (70,849) <INCOME-TAX> 27,751 <INCOME-CONTINUING> (43,098) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (43,098) <EPS-PRIMARY> (1.14) <EPS-DILUTED> (1.14) <FN> <F1>THIS AMOUNT IS NOT DISCLOSED ON THE FACE OF THE CONSOLIDATED FINANCIAL STATEMENTS DUE TO LACK OF MATERIALITY, BUT IS INCLUDED AS A CONTRA-ASSET IN ACCOUNTS RECEIVABLE. <F2>DOES NOT INCLUDE GAINS OR LOSSES ON PROPERTY SALES. <F3>INCLUDES LEASE OPERATING EXPENSE AND NATURAL GAS PURCHASES AND PIPELINE OPERATIONS, BUT EXCLUDES GENERAL AND ADMINISTRATIVE, EXPLORATION, DRY HOLE AND IMPAIRMENT AND DEPRECIATION, DEPLETION AND AMORTIZATION EXPENSES. <F4>INCLUDES GENERAL AND ADMINISTRATIVE, EXPLORATION, DRY HOLE AND IMPAIRMENT AND DEPRECIATION, DEPLETION AND AMORTIZATION EXPENSES. <F5>THIS AMOUNT IS NOT DISCLOSED ON THE FACE OF THE CONSOLIDATED FINANCIAL STATEMENTS DUE TO LACK OF MATERIALITY, BUT IS INCLUDED IN OIL AND GAS REVENUES. </FN>