Nasdaq Unit Corp UNTC.PK, one of the top U.S. natural gas producers, has hired an investment bank for a sale of its oil & gas producing assets in the Anadarko and Gulf Coast basins that could fetch around $1 billion, sources told Reuters on Thursday. Tulsa, Oklahoma-based Unit, which filed for bankruptcy in May 2020 at the height of a
Oil and Gas 360 TULSA, OKLA. – Unit Corporation (the “Company” or “Unit”) announced that it has extended the Expiration Date for its previously announced offer to exchange (the “Exchange Offer”) any and all of its outstanding 6.625% Senior Subordinated Notes due 2021 (CUSIP No. 909218AB5 / ISIN US909218AB56) (the “Old Notes”) for newly issued 10.000% Senior Secured Notes due
Borrowing base stays at $475 million Unit Corporation (NYSE: UNT) reported Q3 today; highlights include: Net income of $3.7 million and adjusted net income of $5.3 million. Oil and natural gas segment production increased 5% over the second quarter of 2017. Contract drilling segment’s average drilling rigs utilized increased 20% over the second quarter of 2017. Midstream segment increased gas
Improving commodity prices driving demand Unit Corp. (Ticker: UNT) announced its first quarter 2017 results Thursday with the drilling segment of the company showing higher levels of rig utilization. The average number of Unit’s drilling rigs working during the quarter was 25.5, an increase of 24% over the first quarter of 2016 and an increase of 31% over the fourth
Whiting Petroleum, Unit Corporation 2015 Annual Reports In an era of everything digital to be consumed on your phone—newspapers, books, magazines, menus and movies—it’s nice to hold a company’s annual report in your hands while you can still smell the fresh ink and feel the weight of the paper. Compare that to scrolling through hundreds of pages of unformatted 10-K
Borrowing Base Redeterminations Kicking into Full Swing Cyclicality in the oil and gas industry is a given. Across the board in today’s commodity price environment, the E&Ps and the OilService companies that provide them with drilling and completion services have worked hard to right-size costs. Management teams will expand and contract their companies’ drilling activity not necessarily by their doing,
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