EX-99.2 3 a06-3002_1ex99d2.htm EXHIBIT 99

Exhibit 99.2

 

Pogo Producing Company

Supplemental  Information (Unaudited) (1) (2)

 

 

 

Quarter Ended

 

Twelve Months Ended

 

Financial Data

 

December 31,

 

December 31,

 

(Data in $ thousands, except per share amounts)

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Oil and gas

 

$

412,782

 

$

228,363

 

$

1,216,247

 

$

973,083

 

Other

 

6,795

 

2,651

 

9,452

 

3,472

 

Total

 

419,577

 

231,014

 

1,225,699

 

976,555

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

Lease operating

 

60,129

 

29,637

 

153,659

 

100,506

 

General and administrative

 

27,101

 

14,347

 

87,319

 

62,056

 

Exploration

 

4,409

 

4,352

 

26,473

 

21,739

 

Dry hole and impairment

 

28,059

 

40,034

 

87,170

 

61,634

 

Depreciation, depletion and amortization

 

106,368

 

57,484

 

312,247

 

251,876

 

Production and other taxes

 

20,355

 

12,498

 

59,527

 

44,104

 

Transportation and other

 

(6,064

)

(6,410

)

(9,079

)

8,355

 

Total

 

240,357

 

151,942

 

717,316

 

550,270

 

 

 

 

 

 

 

 

 

 

 

Operating Income

 

179,220

 

79,072

 

508,383

 

426,285

 

 

 

 

 

 

 

 

 

 

 

Interest:

 

 

 

 

 

 

 

 

 

Charges

 

(27,762

)

(7,218

)

(68,654

)

(29,333

)

Income

 

598

 

210

 

8,291

 

522

 

Capitalized

 

16,045

 

2,759

 

23,480

 

14,216

 

Total Interest Expense

 

(11,119

)

(4,249

)

(36,883

)

(14,595

)

 

 

 

 

 

 

 

 

 

 

Loss on Debt Extinguishment

 

 

(2,866

)

 

(13,759

)

 

 

 

 

 

 

 

 

 

 

Commodity Derivative Expense

 

5,121

 

 

(13,618

)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Transaction Gain (Loss)

 

70

 

(27

)

71

 

(30

)

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

173,292

 

71,930

 

457,953

 

397,901

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

58,613

 

25,680

 

167,884

 

148,866

 

 

 

 

 

 

 

 

 

 

 

Net Income from continuing operations

 

114,679

 

46,250

 

290,069

 

249,035

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of tax

 

(179

)

(7,937

)

460,634

 

12,719

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

114,500

 

$

38,313

 

$

750,703

 

$

261,754

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.98

 

$

0.72

 

$

4.80

 

$

3.90

 

Income (loss) from discontinued operations

 

 

(0.12

)

7.63

 

0.20

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

1.98

 

$

0.60

 

$

12.43

 

$

4.10

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.96

 

$

0.72

 

$

4.76

 

$

3.87

 

Income (loss) from discontinued operations

 

 

(0.13

)

7.56

 

0.19

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

1.96

 

$

0.59

 

$

12.32

 

$

4.06

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Basic shares

 

57,957

 

64,053

 

60,372

 

63,848

 

Diluted shares

 

58,515

 

64,605

 

60,924

 

64,393

 

 

 

 

 

 

 

 

 

 

 

Discretionary Cash Flow:

 

 

 

 

 

 

 

 

 

Net Income

 

$

114,500

 

$

38,313

 

$

750,703

 

$

261,754

 

(Income) loss from discontinued operations, net of tax

 

179

 

7,937

 

(460,634

)

(12,719

)

Depreciation, depletion and amortization

 

106,368

 

57,484

 

312,247

 

251,876

 

Deferred Taxes

 

20,631

 

(5,893

)

9,110

 

3,070

 

Dry Hole and Impairment

 

28,059

 

40,034

 

87,170

 

61,634

 

Exploration

 

4,409

 

4,352

 

26,473

 

21,739

 

Gains on Property Sales

 

155

 

202

 

(72

)

275

 

Capitalized Interest

 

(16,045

)

(2,759

)

(23,480

)

(14,216

)

Other Noncash

 

(4,210

)

(2,878

)

16,747

 

15,129

 

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

 

254,046

 

136,792

 

718,264

 

588,542

 

Discretionary cash flow of discontinued operations

 

 

42,395

 

119,233

 

164,924

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

254,046

 

$

179,187

 

$

837,497

 

$

753,466

 

 


(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.