Unit Corporation's subsidiary, Unit Petroleum
Company, has closed the previously announced acquisition of certain oil and
natural gas properties from a private company for an adjusted purchase price
of $23.1 million in cash. The acquisition consists of approximately 14.0 Bcfe
of proved oil and natural gas reserves and several probable locations. The
properties are located in Oklahoma and currently produce 2.5 MMcfe per day.
The acquisition has an effective date of April 1, 2005.