Unit Corporation

Unit Corporation (UNTCW) Company Profile & Overview

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties. Its producing oil and natural gas properties, unproved properties, and related assets are primarily located in Oklahoma and Texas, as well as in Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Utah, and Wyoming. The Contract Drilling segment is involved in the drilling of onshore oil and natural gas wells for a range of other oil and natural gas companies primarily in Oklahoma, Texas, New Mexico, Wyoming, and North Dakota. It has 21 drilling rigs in its fleet. The Mid-Stream segment buys, sells, gathers, processes, and treats natural gas for third parties. This segment operates three natural gas treatment plants, 12 processing plants, 18 gathering systems, and approximately 3,822 miles of pipeline in Oklahoma, Texas, Kansas, Pennsylvania, and West Virginia. Unit Corporation was incorporated in 1963 and is headquartered in Tulsa, Oklahoma.