EX-99.2 3 a06-21362_1ex99d2.htm UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION REGARDING THE COMPANY'S QTR END 9/30/06

Exhibit 99.2

Pogo Producing Company

Supplemental Information (Unaudited) (1) (2)

Financial Data

 

Quarter Ended
September 30,

 

Nine Months Ended
September 30,

 

(Data in $ thousands, except per share amounts)

 

2006

 

2005

 

2006

 

2005

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Oil and gas

 

$

340,603

 

$

275,359

 

$

1,052,140

 

$

803,465

 

Gain (loss) on property sales

 

(3,031

)

(23

)

305,303

 

227

 

Other

 

16,197

 

476

 

44,454

 

2,430

 

Total

 

353,769

 

275,812

 

1,401,897

 

806,122

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

Lease operating

 

66,542

 

31,345

 

191,948

 

93,530

 

General and administrative

 

39,747

 

23,173

 

98,534

 

60,218

 

Exploration

 

6,437

 

7,566

 

14,395

 

22,064

 

Dry hole and impairment

 

36,273

 

5,254

 

74,274

 

59,111

 

Depreciation, depletion and amortization

 

121,830

 

67,498

 

345,359

 

205,879

 

Production and other taxes

 

22,404

 

13,806

 

56,032

 

39,172

 

Other

 

11,768

 

(1,857

)

53,868

 

(3,015

)

Total

 

305,001

 

146,785

 

834,410

 

476,959

 

 

 

 

 

 

 

 

 

 

 

Operating Income

 

48,768

 

129,027

 

567,487

 

329,163

 

 

 

 

 

 

 

 

 

 

 

Interest:

 

 

 

 

 

 

 

 

 

Charges

 

(41,324

)

(16,831

)

(105,858

)

(40,892

)

Income

 

374

 

5,507

 

1,491

 

7,693

 

Capitalized

 

21,617

 

2,525

 

56,442

 

7,435

 

Total Interest Expense

 

(19,333

)

(8,799

)

(47,925

)

(25,764

)

 

 

 

 

 

 

 

 

 

 

Loss on Debt Extinguishment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Derivative Income (Expense)

 

10,545

 

(18,739

)

6,752

 

(18,739

)

 

 

 

 

 

 

 

 

 

 

Foreign Currency Transaction Gain (Loss)

 

(2

)

(1

)

1,067

 

1

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

39,978

 

101,488

 

527,381

 

284,661

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

6,640

 

39,585

 

64,689

 

109,271

 

 

 

 

 

 

 

 

 

 

 

Net Income from continuing operations

 

33,338

 

61,903

 

462,692

 

175,390

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of tax

 

 

411,625

 

 

460,813

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

33,338

 

$

473,528

 

$

462,692

 

$

636,203

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.58

 

$

1.04

 

$

8.04

 

$

2.87

 

Income (loss) from discontinued operations

 

 

6.92

 

 

7.53

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.58

 

$

7.96

 

$

8.04

 

$

10.40

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.58

 

$

1.03

 

$

7.97

 

$

2.84

 

Income (loss) from discontinued operations

 

 

6.86

 

 

7.47

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

0.58

 

$

7.89

 

$

7.97

 

$

10.31

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Basic shares

 

57,618

 

59,512

 

57,578

 

61,176

 

Diluted shares

 

57,863

 

60,033

 

58,047

 

61,726

 

 

 

 

 

 

 

 

 

 

 

Discretionary Cash Flow:

 

 

 

 

 

 

 

 

 

Net Income

 

$

33,338

 

$

473,528

 

$

462,692

 

$

636,203

 

(Income) loss from discontinued operations, net of tax

 

 

(411,625

)

 

(460,813

)

Depreciation, depletion and amortization

 

121,830

 

67,498

 

345,359

 

205,879

 

Deferred Taxes

 

51,677

 

(2,464

)

(48,460

)

(11,521

)

Dry Hole and Impairment

 

36,273

 

5,254

 

74,274

 

59,111

 

Exploration

 

6,437

 

7,566

 

14,395

 

22,064

 

Gains on Property Sales

 

3,031

 

23

 

(305,303

)

(227

)

Capitalized Interest

 

(21,617

)

(2,525

)

(56,442

)

(7,435

)

Other Noncash

 

(10,715

)

19,996

 

2,767

 

21,388

 

Discretionary cash flow from continuing operations before changes in assets and liabilities

 

220,254

 

157,251

 

489,282

 

464,649

 

Discretionary cash flow from discontinued operations

 

 

19,022

 

 

119,233

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

220,254

 

$

176,273

 

$

489,282

 

$

583,882

 

 


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

(2)   Results from continuing operations for 2005 exclude activities from Thailand and Hungary.