Last $29.93 USD
Change Today +0.492 / 1.67%
Volume 261.6K
UNT On Other Exchanges
Symbol
Exchange
Berlin
As of 2:19 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

unit corp (UNT) Snapshot

Open
$29.39
Previous Close
$29.44
Day High
$30.20
Day Low
$29.17
52 Week High
07/2/14 - $70.36
52 Week Low
01/29/15 - $26.92
Market Cap
1.5B
Average Volume 10 Days
580.1K
EPS TTM
$3.15
Shares Outstanding
49.8M
EX-Date
--
P/E TM
9.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for UNIT CORP (UNT)

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unit corp (UNT) Details

Unit Corp. engages in onshore contract drilling of oil and gas wells (for its own account as well as for other companies), exploration and production of oil and gas, and the gathering and transportation of natural gas primarily in the U.S. It also explores, develops, acquires, and produces oil and natural gas, and buys, sells, gathers, processes, and treats natural gas. Drilling operations are located principally in the Oklahoma and Texas areas of the Anadarko and Arkoma Basins, the north Texas Barnett Shale, the Texas Gulf Coast and east Texas, and the Rocky Mountain regions of Wyoming, Colorado, Utah, and Montana; and oil and natural gas properties, undeveloped leaseholds, and related assets primarily in Oklahoma, Texas, Louisiana, and New Mexico. It operates three natural gas treatment plants, six operating processing plants, 37 active gathering systems, and 600 miles of pipeline in Oklahoma, Texas, Louisiana, and Kansas. As of Dec. 31, 2006, it had proved developed and undeveloped reserves of 11,583 thousand barrels of oil and 406,400 million cubic feet of natural gas. Unit was founded in 1963 and is based in Tulsa.

1,880 Employees
Last Reported Date: 02/24/15
Founded in 1963

unit corp (UNT) Top Compensated Officers

Chief Executive Officer, President, Chief Ope...
Total Annual Compensation: $1.1M
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $555.9K
Executive Vice President of Unit Petroleum Co...
Total Annual Compensation: $556.7K
Senior Vice President, Secretary and General ...
Total Annual Compensation: $555.9K
Executive Vice President of Drilling - Unit D...
Total Annual Compensation: $555.7K
Compensation as of Fiscal Year 2013.

unit corp (UNT) Key Developments

Unit Corporation Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2014; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2014; Provides Production and Capital Expenditure Guidance for the Full Year of 2015

Unit Corporation reported unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported a net loss of $42.6 million, or $0.88 per diluted share, compared to net income of $51.3 million, or $1.05 per diluted share, for the fourth quarter of 2013. Because of the significantly lower commodity prices existing at year-end 2014, fourth quarter 2014 results included the following pre-tax non-cash write downs: $76.7 million ceiling test write down in the carrying value of Unit’s oil and natural gas properties; $74.3 million for the removal of 31 drillings rigs from the fleet along with some other equipment; and $7.1 million in the carrying value of three gas gathering systems. Adjusted net income (which excludes the effect of non-cash commodity derivatives and the effects of the write-downs) was $39.7 million, or $0.80 per diluted share compared with $54.3 million or $1.11 per diluted share a year ago. Total revenues for the quarter were $378.6 million, compared to $359.1 million for the fourth quarter of 2013. Operating Profit before depreciation, depletion, amortization & impairment was $111.0 million compared with $128.2 million a year ago. Loss from operations was $101.5 million compared with income from operations of $91.99 million a year ago. Loss before income taxes was $67.4 million compared with income before income taxes of $83.7 million a year ago. For the year, the company's net income was $136.3 million, or $2.78 per diluted share, compared to 2013 net income of $184.7 million, or $3.80 per diluted share. Excluding the effect of the fourth quarter 2014 write downs and the effect of non-cash commodity derivatives, adjusted net income for the year was $212.6 million, or $4.33 per diluted share compared with $188.8 million or $3.89 per diluted share a year ago. Total revenues for the year were $1,572.9 million, compared to $1,351.9 million for 2013. Operating Profit before depreciation, depletion, amortization & impairment was $552.2 million compared with $465.7 million a year ago. Income from operations was $210.2 million compared with income from operations of $325.0 million a year ago. Income before income taxes was $222.9 million compared with income before income taxes of $301.5 million a year ago. Net cash provided by operating activities was $708.99 million compared with $674.33 million a year ago. During 2014, the company invested $79.3 million of capital projects, which included $28.2 million related to the capital lease making compressors on various systems. Total equivalent production for the quarter was 4.9 million barrels of oil equivalent (MMBoe), an increase of 10% and 6% over the fourth quarter of 2013 and the third quarter of 2014, respectively. Liquids (oil and NGLs) production represented 47% of total equivalent production for the quarter. Oil production for the quarter was 11,340 barrels per day, an increase of 17% over the fourth quarter of 2013 and essentially unchanged from the third quarter of 2014. NGLs production for the quarter was 13,616 barrels per day, an increase of 8% over the fourth quarter of 2013 and an increase of 9% over the third quarter of 2014. Natural gas production for the quarter was 167,721,000 cubic feet (Mcf) per day, an increase of 8% over the fourth quarter of 2013 and a 6% increase over the third quarter of 2014. For the year, the company's oil and NGLs production was 8,472 MBbl compared with 7,274 MBbl a year ago. Natural Gas production was 58.9 Bcf compared with 56.8 Bcf a year ago. Total equivalent production for the quarter was 18.3 MMBoe compared to 16.7 million MMBoe a year ago. The company announced impairment of oil and natural gas properties of $76.7 million for the fourth quarter ended December 31, 2014. The company's 2015 production guidance is approximately 18.6 to 19.0 MMBoe, an increase of 2% to 4% over 2014, although actual results will continue to be subject to industry conditions. The company provided capital expenditure guidance for the full year 2015. The company’s operating segment capital expenditures budget for 2015 is $477 million, a 52% lower than 2014, excluding acquisitions in order to focus on keeping its capital expenditures budget substantially within anticipated internally generated cash flow. For 2015, the company estimated capital expenditures, excluding acquisitions, will be $68.4 million The effective income tax rate for 2014 was 38.9% and the company currently estimate the rate for 2015 to be approximately the same with the current portion of income taxes for 2015 estimated to be approximately 10%.

Unit Corporation Presents at U.S. Capital Advisors Corporate Access Day, Jan-21-2015

Unit Corporation Presents at U.S. Capital Advisors Corporate Access Day, Jan-21-2015 . Venue: Houston, Texas, United States.

Unit Corporation, Q4 2014 Earnings Call, Feb 24, 2015

Unit Corporation, Q4 2014 Earnings Call, Feb 24, 2015

 

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UNT Competitors

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Helmerich & Payne Inc $67.33 USD +1.62
Nabors Industries Ltd $12.70 USD +0.16
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Precision Drilling Corp C$7.48 CAD +0.04
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Industry Analysis

UNT

Industry Average

Valuation UNT Industry Range
Price/Earnings 11.0x
Price/Sales 0.9x
Price/Book 0.6x
Price/Cash Flow 2.5x
TEV/Sales 0.4x
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