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News | UNIT CORPORATION |
8200 South Unit Drive, Tulsa, Oklahoma, 74132 | |
Telephone 918 493-7700, Fax 918 493-7714 |
Contact: | Michael D. Earl |
Vice President, Investor Relations | |
(918) 493-7700 | |
www.unitcorp.com |
• | Net income of $1.7 million for the quarter. |
• | To date, the contract drilling segment increased the number of drilling rigs in service from a low of 13 in the second quarter to 26, a 100% increase. |
• | Contract drilling segment placed into service its ninth BOSS drilling rig. |
• | Oil and natural gas segment resumed drilling activities in the fourth quarter with a drilling rig being placed into service in October in the Southern Oklahoma Hoxbar Oil Trend (SOHOT) play and a second drilling rig placed into service in December in the Granite Wash play. |
• | Midstream segment started preliminary construction activities to connect the next well pad to its Pittsburgh Mills gathering system. |
• | Reduced long-term debt by $53.7 million from the end of the third quarter, bringing the total 2016 reduction to $118.1 million. |
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Ticker: UNT
CIK: 798949
Form Type: 10-K Annual Report
Accession Number: 0000798949-17-000004
Submitted to the SEC: Tue Feb 28 2017 4:11:56 PM EST
Accepted by the SEC: Tue Feb 28 2017
Period: Saturday, December 31, 2016
Industry: Crude Petroleum And Natural Gas