Unit Corporation Company News

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Unit Corp. Names New CEO
Monday, February 24, 2020 Larry D. Pinkston announced his retirement from his current roles effective March 31, 2020.

Noble Divests Mid-Continent Assets with $617M Sale to Unit
Wednesday, July 11, 2012 Noble Energy will sell some Texas and Oklahoma assets to Unit Corporation subsidiary Unit Petroleum Company for $617.1M in cash.

Teton, Unit Ink E&P Deal for Big Horn Basin
Friday, June 20, 2008 Teton and Unit Petroleum have signed an agreement to jointly explore and develop Teton's Wyoming acreated in the Big Horn Basin.

Unit Corporation Reports 2Q07 Results
Thursday, August 02, 2007 Unit Corporation says revenues for the second quarter were $286.6 million (54% contract drilling, 34% oil and natural gas, and 12% gathering and processing).

Unit Corp. Expands Rig Fleet with Panhandle Acquisition
Wednesday, June 06, 2007 Unit Corp. on Wednesday announced the following information regarding certain of its subsidiaries.

Unit Announces Unprecedented Capex Budget
Tuesday, January 09, 2007 Unit Corp. on Tuesday announced its planned 2007 operating capital budget of $482 million, the largest in the Company's 45-year history.

Unit Corp. Acquires Brighton Energy
Tuesday, October 03, 2006 Unit Petroleum has signed an agreement to acquire Brighton Energy, LLC, a privately owned oil and natural gas company for approximately $67.0 million in cash.

Unit Corporation Acquires Acreage in Oklahoma, Texas & New Mexico
Wednesday, April 19, 2006 Unit Petroleum Company has signed a purchase and sale agreement to acquire certain oil and natural gas properties from a group of private entities for approximately $32.4 million in cash.

Unit Corporation Says 4Q05 Net Income Up 182%
Wednesday, February 22, 2006 Unit Corporation says net Net income for the fourth quarter of 2005 was $84.5 million compared with net income of $29.9 million for the foruth quarter of 2005.

Unit Corporation Loses Drilling Rig in Blowout
Tuesday, January 17, 2006 Unit Corporation's subsidiary, Unit Drilling Company, experienced a fire on one of its drilling rigs over the weekend.

Unit Petroleum Acquires Acreage in Oklahoma, Arkansas and Texas
Friday, October 07, 2005 Unit Petroleum Company has signed a purchase and sale agreement to acquire certain oil and natural gas properties from a group of private entities.

Unit Corporation to Acquire Rigs from Texas Wyoming Drilling Inc.
Monday, August 08, 2005 Unit Drilling Company has signed a purchase and sale agreement to acquire seven drilling rigs from Texas Wyoming Drilling, Inc. for $32 million in a cash and stock transaction.

Unit Corporation Closes Acquisition of Strata Drilling
Wednesday, January 05, 2005 Unit Corporation's subsidiary, Unit Drilling Company, has closed an acquisition to purchase a subsidiary of Strata Drilling LLC for $10.5 million in cash.

Unit Corporation Announces Budget for 2005
Thursday, December 23, 2004 Unit Corporation reports that its consolidated capital expenditure budget for 2005 of $205 million, allocated between its three primary subsidiaries, Unit Drilling Company, Unit Petroleum Company and Superior Pipeline Company LLC.

John Nikkel Retires from CEO Spot at Unit Corporation
Thursday, October 21, 2004 Unit Corporation announced that its Chairman and Chief Executive Officer, John Nikkel, will retire as Chief Executive Officer of the Company effective April 1, 2005 and that Mr. Larry Pinkston, its President, has been elected to assume the additional role as the Company's Chief Executive Officer.

Unit Corporation Closes Two Recent Acquisitions
Monday, August 02, 2004 Unit Corporation's subsidiary, Unit Drilling Company, has completed the acquisition of Sauer Drilling Company, a Casper-based drilling company and a wholly-owned subsidiary of Tom Brown, Inc.

Unit Corporation Acquires Sauer Drilling Company
Tuesday, June 29, 2004 Unit Corporation has signed an agreement to acquire Sauer Drilling Company, a Casper-based drilling company and a wholly-owned subsidiary of Tom Brown, Inc., for $34.7 million in cash and an amount equal to Sauer's working capital at closing.

Unit Corporation to Acquire Two Additional Drilling Rigs
Tuesday, April 20, 2004 Unit Corporation has reached an agreement to buy two drilling rigs and related equipment for $5.5 million.

Unit Corp. Acquires Service Drilling Company
Friday, November 21, 2003 Unit Corporation has signed an agreement to acquire Serdrilco Incorporated and its subsidiary, Service Drilling Southwest LLC for $35,000,000 in cash.

Unit Acquires PetroCorp
Tuesday, July 01, 2003 Unit Corporation has signed a letter of intent with PetroCorp Incorporated to acquire all outstanding shares of PetroCorp for approximately $190,000,000.