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News | UNIT CORPORATION | ||||
8200 South Unit Drive, Tulsa, Oklahoma, 74132 | |||||
Telephone 918 493-7700, Fax 918 493-7711 |
Contact: | Michael D. Earl | ||||
Vice President, Investor Relations | |||||
(918) 493-7700 | |||||
www.unitcorp.com |
Please wait while we load the requested 10-K report or click the link below:
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Unit Corp.
Unit Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The increase in working capital from 2017 is primarily due to increased cash and cash equivalents from the sale of 50% interest in our mid-stream segment and increased accounts receivable due to increased revenues, the change in the value of the derivatives outstanding and the fair value of drilling assets held for sale partially offset by increased accounts payable due to increased activity in our drilling program.
Changes that could prompt such an assessment may include equipment obsolescence, changes in the market demand for a specific asset, changes in commodity prices, periods of relatively low drilling rig utilization, declining revenue per day, declining cash margin per day, or overall changes in market conditions.
This plan is identical to the Separation Benefit Plan with the exception that the benefits under the plan vest on the earliest of a participants reaching the age of 65 or serving 20 years with the company.
Effective January 1, 1997, we adopted a separation benefit plan (Separation Plan).
Oil and natural gas operating costs increased $0.9 million or 1% between the comparative years of 2018 and 2017 primarily due to higher LOE, gross production taxes, general and administrative expenses, and saltwater disposal expense, partially offset by less expenses due to certain deductions being netted in revenues after ASC 606 implementation in 2018.
Net cash provided by operating...Read more
The Separation Plan allows eligible...Read more
For example, the fair value...Read more
The effective tax rate for...Read more
The effective tax rate for...Read more
On October 28, 1997, we...Read more
The change was due primarily...Read more
At the end of each...Read more
Effective December 31, 2014, the...Read more
On May 5, 2004 we...Read more
Gain on Disposition of Assets...Read more
General and Administrative General and...Read more
General and Administrative General and...Read more
Related party transactions for contract...Read more
Gain (loss) on derivatives decreased...Read more
The outstanding Unit credit facility...Read more
The Senior Plan provides certain...Read more
Operating costs increased $12.4 million...Read more
If reserve estimates are revised...Read more
Leasehold costs are transferred to...Read more
Revenue for the fourth quarter...Read more
With improved commodity prices during...Read more
The increase over the third...Read more
Among other provisions, the Tax...Read more
Our average interest rate increased...Read more
Depreciation and amortization decreased $2.2...Read more
At-the-Market (ATM) Common Stock Program...Read more
Contract Drilling Drilling revenues increased...Read more
Contract Drilling Drilling revenues increased...Read more
Late in 2016, commodity prices...Read more
Historically, during this same period,...Read more
The decrease from the third...Read more
Effective January 1, 2019, we...Read more
The gain in 2018 was...Read more
NGLs sold increased primarily due...Read more
This segment?s capital budget for...Read more
The increase was primarily due...Read more
The total preliminary adjusted value...Read more
The total preliminary adjusted value...Read more
At December 31, 2018, we...Read more
These new wells along with...Read more
These new wells along with...Read more
Our decision to withhold costs...Read more
Any decision to increase our...Read more
Part of the proceeds from...Read more
It is hard to predict...Read more
It is hard to predict...Read more
It is hard to predict...Read more
This plan satisfies the criteria...Read more
This plan satisfies the criteria...Read more
This plan satisfies the criteria...Read more
This plan satisfies the criteria...Read more
The increase over the fourth...Read more
We made a strategic decision...Read more
We made a strategic decision...Read more
We made a strategic decision...Read more
We made a strategic decision...Read more
As of December 31, 2018,...Read more
The decrease from the third...Read more
Our internal control framework did...Read more
Assets are determined to be...Read more
At December 31, 2018, we...Read more
Based on our 2018 production...Read more
We may redeem all or,...Read more
Mid-Stream Our mid-stream revenues increased...Read more
The continuous fluctuations in commodity...Read more
The amendment will be effective...Read more
The amendment will be effective...Read more
The amendment will be effective...Read more
Also it is permitted to...Read more
The write-downs were due primarily...Read more
In addition, sustained lower commodity...Read more
Increases in dayrates for drilling...Read more
If future reserve estimates for...Read more
Costs associated with unproved properties...Read more
Our average interest rate increased...Read more
The increase was due primarily...Read more
Without this income tax benefit...Read more
The increase in our DD&A;...Read more
The partnerships repay us for...Read more
The risk we will be...Read more
The increase over the fourth...Read more
Our effective tax rate was...Read more
Our effective tax rate was...Read more
At the Hemphill Texas system,...Read more
At the Hemphill Texas system,...Read more
Some accounting policies involve judgments...Read more
The increase was due primarily...Read more
Our commodity derivatives should reduce...Read more
Gas gathering volumes per day...Read more
Rig utilization fluctuated over the...Read more
For public companies, these are...Read more
Volumes processed increased primarily due...Read more
Gas processing volumes per day...Read more
Gas gathering volumes per day...Read more
Recently the other contract was...Read more
While the goodwill of this...Read more
Dayrates for the fourth quarter...Read more
As of January 1, 2017,...Read more
As of November 1, 2018,...Read more
As of November 1, 2018,...Read more
These factors include the demand...Read more
We have recorded a liability...Read more
This increase in demand affects...Read more
We can use borrowings for...Read more
Gas gathering volumes per day...Read more
During the last three years,...Read more
Whether we drill all of...Read more
Our goodwill is all related...Read more
At the Cashion processing facility...Read more
At the Cashion processing facility...Read more
This table lists the critical...Read more
Asset impairment evaluations are, by...Read more
Changes in these estimates could...Read more
The increase over the fourth...Read more
If the net capitalized costs...Read more
We made repurchases of approximately...Read more
The decrease from the fourth...Read more
For example, lower oil, natural...Read more
Gas processing volumes per day...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Unit Corp provided additional information to their SEC Filing as exhibits
Ticker: UNT
CIK: 798949
Form Type: 10-K Annual Report
Accession Number: 0000798949-19-000007
Submitted to the SEC: Tue Feb 26 2019 3:15:00 PM EST
Accepted by the SEC: Tue Feb 26 2019
Period: Monday, December 31, 2018
Industry: Crude Petroleum And Natural Gas