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PROSPECTUS SUPPLEMENT NO.7 DATED SEPTEMBER 18, 1997 Pursuant to
(TO PROSPECTUS DATED SEPTEMBER 26, 1996) Rule 424(b)(3)
Reg. No. 333-11927
$115,000,000
POGO PRODUCING COMPANY
5-1/2% Convertible Subordinated Notes due June 15, 2006
and
such Shares of Common Stock, par value $1 per share,
as are Issuable Upon Conversion Thereof
The following beneficial owner of 5-1/2% Convertible Subordinated
Notes due June 15, 1996 (the "Notes") of Pogo Producing Company (the
"Company") has indicated that it wishes to register additional Notes which
it has acquired in transactions exempt from the Securities Act of 1933,
as amended, and has requested that the Company file a Prospectus Supplement
updating the amount of of Notes which it holds and may offer for resale
pursuant to the prospectus, as supplemented hereby. The information
concerning such Selling Holder has been provided to the Company by such
Selling Holder.
AGGREGATE ADDITIONAL NUMBER OF SHARES OF
AMOUNT OF NOTES OWNED COMMON STOCK OWNED
BY THE SELLING HOLDER BY THE SELLING HOLDER
AND WHICH ARE OFFERED AND WHICH ARE OFFERED
NAME OF SELLING HOLDER HEREBY HEREBY(11j)
Vanguard Convertible
Securities Fund, Inc. $ 335,000(11c) 7,941
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In addition, the following beneficial owners of Notes have
indicated that they wish to register Notes that they have acquired in
transactions exempt from the Securities Act of 1933, as amended and desire
that the Company file a Prospectus Supplement naming them as Selling
Holders in the prospectus, as supplemented hereby. Information contained in
this supplement concerning each Selling Holder was provided to the Company
by such Selling Holders.
AGGREGATE PRINCIPAL NUMBER OF SHARES OF
AMOUNT OF NOTES OWNED COMMON STOCK OWNED BY
BY THE SELLING HOLDER THE SELLING HOLDER AND
AND WHICH ARE OFFERED WHICH ARE OFFERED
NAME OF SELLING HOLDER HEREBY HEREBY(11j)
Hughes Aircraft Company
Master Retirement Trust $ 810,000(11o) 19,201
OCM Convertible Limited
Partnership 70,000(11o) 1,659
Partner Reinsurance Company
Ltd. 180,000(11o) 4,266
SUBTOTAL (This Supplement).... 1,395,000 33,067
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SUBTOTAL (All named Selling
(Holders Through the date of
this Prospectus Supplement).. 104,956,000 2,487,971
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Remaining unnamed holders of Notes
or any future transferees,
pledgees, donees or successors of
or from any such unnamed holder
after giving effect to this
Supplement to the Prospectus(15) 10,044,000 238,094(16)
----------- ---------
TOTAL................. $115,000,000 2,726,065
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___________________________
(11j) Unless otherwise noted, the nature of the beneficial ownership is
sole voting and/or investment power. Common Stock ownership assumes as
the conversion price, the initial conversion price of $42.185 per
share of Common Stock (equivalent to a conversion rate of approximately
23.7051 shares per $1000 principal amount of Notes), and a cash
payment in lieu of any fractional share interest. Unless otherwise
noted, no Selling Holder reported owning any shares of Common Stock
other than those into which the Notes were convertible.
(11c) The information with respect to this Selling Holder is true and
complete as of September 11, 1997. This Selling Holder was already
named in the Prospectus and has provided additional information
increasing the amount of Notes and number of shares of Common Stock
which are offered hereby by the respective amounts shown herein.
(11o) The information with respect to this Selling Holder is true and
complete as of September 12, 1997.
(15) No such holder may offer Securities pursuant to the Registration
Statement of which this Prospectus forms a part until such holder
is included as a Selling Holder in a supplement to this Prospectus
in accordance with the Registration Rights Agreement.
(16) Assumes that the unnamed holders of Notes or any future transferees,
pledgees, donees or successors of or from any such unnamed holder
does or do not beneficially own any Common Stock other than Common
Stock issuable upon conversion of the Notes at the initial conversion
rate set forth above.
Additional Selling Holders or other information concerning the
Selling Holders listed above may be set forth in subsequent Prospectus
Supplements from time to time.
Date of this Supplement is: September 18, 1997