Current UNT Stock Info

Unit Corporation presents at EnerCom’s The Oil & Gas Conference®

 During Unit Corporation’s breakout session, management was asked the following questions:

  • Are completions going to follow the rig?
  • How strategic is it to keep 3 segments under the same company? Will there be a division or sale?
  • What pay zone are you kicking out into in the Granite Wash?
  • What play are the two operated rigs going into for next year?
  • What is the operating cost of running a rig? Is there a commodity price where those costs increase? 5 person crews?
  • With cold stacks of rigs, are you currently delaying maintenance? Are 75% of your rigs ready to go back to work?
  • Is it realistic from a logistics point of view for the industry to bounce back to 1000 rigs within 12 months?
  • What is the current operating cost of a rig in comparison to 2014?
  • At what point do rigs need to be scrapped or replaced?
  • Will most additions to your rig fleet be bi-fuel?
  • Where do the boss rigs get built?
  • What is the build time for new boss rigs?
  • Would an operator request a new build?
  • Will the one idle boss rig go back to work? Where is it likely to go?
  • What is the cost to move a rig from the Haynesville to the Permian?
  • How many rigs are capable of drilling 10,000 ft laterals? How many of your rigs could do that immediately?
  • Would you participate in a well with your E&P division to get one of your rigs back to work?
  • What is the ratio of operating rigs to fracturing crews?

You can listen to Unit Corporation’s presentation by clicking here.

For the company’s second quarter results, click here.

Unit Corporation (ticker: UNT) is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing of natural gas.

Unit Drilling Company operates onshore US drilling activity utilizing a fleet of 94 rigs. During Q2 the average number of working rigs was 13.5. Larry Pinkston, president and chief executive officer said, “Currently, we have seven of our eight BOSS drilling rigs under contract. Our drilling rig fleet totals 94 drilling rigs, of which 16 are working under contract after rebounding from a low of 13 drilling rigs during the second quarter. Long-term contracts (contracts with original terms ranging from six months to two years in length) are in place for five of our drilling rigs. Of the five, one is up for renewal during the fourth quarter, and four in 2017.”

Unit Petroleum Company owned 135 MMBOE of reserves (85% Proved Developed) on December 31st, 2015.  The spread of production is focused in the Anadarko and Arkoma basins, with interest in more than 7800 wells. Larry Pinkston said, “We are pleased with the results of the wells that were completed during the first half of the year as well as the results of our behind pipe recompletions. We continue to increase our leasehold in our core areas and identify additional potential drilling locations. Depending on commodity prices, our plan will be to resume our drilling program in the latter part of the year.”

Superior Pipeline Company, LLC is a full service midstream energy company committed to providing services for gas gathering, processing, treating, compression, dehydration, transportation and marketing of natural gas and natural gas liquids. Superior operations are located in the Texas/Oklahoma panhandle, Central/Western Oklahoma, Southeastern Oklahoma, Southeast Texas and Appalachia which includes Pennsylvania and West Virginia. Of Q2 operations Larry Pinkston said, “Due to low liquids prices, our midstream segment remained in full ethane rejection mode for most of the quarter at our various gas processing facilities in the Mid-Continent.”

Each of these companies are wholly owned subsidiaries of Unit Corporation.


Legal Notice