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Pogo Producing swings to quarterly loss on charges

Wed Oct 24, 2007 8:51pm EDT

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LOS ANGELES, Oct 24 (Reuters) - Pogo Producing Co PPP.N said on Wednesday it swung to a third-quarter net loss as it booked a $45.6 million loss on the sale of its Canadian subsidiary and recognized a charge from the early extinguishment of debt.

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The natural gas explorer and producer had a quarterly net loss of $45.9 million, or 79 cents per share, compared with net income of $33.4 million, or 58 cents per share, a year ago. Revenue fell to $201.1 million from $232.1 million.

Pogo in July agreed to be acquired by Plains Exploration & Production Co (PXP.N) for $3.6 billion in stock and cash. (Reporting by Lisa Baertlein)

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