Unit Corporation Closes Acquisition

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.