EX-99.2 3 a05-18730_1ex99d2.htm EX-99.2

Exhibit 99.2

 

Pogo Producing Company

Supplemental Information (Unaudited) (1) (2)

 

 

 

Quarter Ended

 

Nine Months Ended

 

Financial Data

 

September 30,

 

September 30,

 

(Data in $ thousands, except per share amounts)

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Oil and gas

 

$

275,359

 

$

259,590

 

$

803,465

 

$

744,720

 

Other

 

7,816

 

121

 

21,426

 

821

 

Total

 

283,175

 

259,711

 

824,891

 

745,541

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

Lease operating

 

31,345

 

24,536

 

93,530

 

70,869

 

General and administrative

 

23,173

 

17,866

 

60,218

 

47,709

 

Exploration

 

7,566

 

4,097

 

22,064

 

17,387

 

Dry hole and impairment

 

5,254

 

14,177

 

59,111

 

21,600

 

Depreciation, depletion and amortization

 

67,498

 

65,183

 

205,879

 

194,392

 

Production and other taxes

 

13,806

 

13,847

 

39,172

 

31,606

 

Transportation and other

 

5,506

 

5,123

 

15,754

 

14,765

 

Total

 

154,148

 

144,829

 

495,728

 

398,328

 

 

 

 

 

 

 

 

 

 

 

Operating Income

 

129,027

 

114,882

 

329,163

 

347,213

 

 

 

 

 

 

 

 

 

 

 

Interest:

 

 

 

 

 

 

 

 

 

Charges

 

(16,831

)

(6,044

)

(40,892

)

(22,115

)

Income

 

5,507

 

108

 

7,693

 

312

 

Capitalized

 

2,525

 

3,441

 

7,435

 

11,457

 

Total Interest Expense

 

(8,799

)

(2,495

)

(25,764

)

(10,346

)

 

 

 

 

 

 

 

 

 

 

Loss on Debt Extinguishment

 

 

 

 

(10,893

)

 

 

 

 

 

 

 

 

 

 

Commodity Derivative Expense

 

(18,739

)

 

(18,739

)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Transaction Gain (Loss)

 

(1

)

 

1

 

(3

)

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

101,488

 

112,387

 

284,661

 

325,971

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

39,585

 

43,383

 

109,271

 

123,186

 

 

 

 

 

 

 

 

 

 

 

Net Income from continuing operations

 

61,903

 

69,004

 

175,390

 

202,785

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of tax

 

411,625

 

17,608

 

460,813

 

20,656

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

473,528

 

$

86,612

 

$

636,203

 

$

223,441

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.04

 

$

1.08

 

$

2.87

 

$

3.18

 

Income (loss) from discontinued operations

 

6.92

 

0.28

 

7.53

 

0.32

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

7.96

 

$

1.36

 

$

10.40

 

$

3.50

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.03

 

$

1.07

 

$

2.84

 

$

3.15

 

Income (loss) from discontinued operations

 

6.86

 

0.28

 

7.47

 

0.32

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

7.89

 

$

1.35

 

$

10.31

 

$

3.47

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares and Potential Common Shares Outstanding:

 

 

 

 

 

 

 

 

 

Basic shares

 

59,512

 

63,846

 

61,176

 

63,780

 

Diluted shares

 

60,033

 

64,334

 

61,726

 

64,323

 

 

 

 

 

 

 

 

 

 

 

Discretionary Cash Flow:

 

 

 

 

 

 

 

 

 

Net Income

 

$

473,528

 

$

86,612

 

$

636,203

 

$

223,441

 

(Income) loss from discontinued operations, net of tax

 

(411,625

)

(17,608

)

(460,813

)

(20,656

)

Depreciation, depletion and amortization

 

67,498

 

65,183

 

205,879

 

194,392

 

Deferred Taxes

 

(2,464

)

4,065

 

(11,521

)

8,963

 

Dry Hole and Impairment

 

5,254

 

14,177

 

59,111

 

21,600

 

Exploration

 

7,566

 

4,097

 

22,064

 

17,387

 

Gains on Property Sales

 

23

 

341

 

(227

)

73

 

Capitalized Interest

 

(2,525

)

(3,441

)

(7,435

)

(11,457

)

Other Noncash

 

21,321

 

3,149

 

28,145

 

18,007

 

Net cash provided by continuing operations before changes in assets and liabilities

 

158,576

 

156,575

 

471,406

 

451,750

 

Discretionary cash flow of discontinued operations

 

19,022

 

11,035

 

119,233

 

133,564

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

177,598

 

$

167,610

 

$

590,639

 

$

585,314

 

 

 


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

(2)  Results from continuing operations exclude activities from Thailand and Hungary.