Unit Corporation Reports 2019 Third Quarter Results
UNIT (UNT)
Last unit earnings: 3/16 04:15 pm
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US:NYSE Investor Relations:
investor.uniti.com
Company Research
Source: Business Wire
TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (NYSE: UNT) today reported its financial and operational results for the third quarter of 2019. Operational highlights include:Oil and natural gas segment:Segment production increased 6% and capital expenditures decreased 56% during the quarter, as compared to the second quarter.Continued focus on increasing oil production, with this quarter's oil production increasing 28% over the second quarter and representing 21% of total equivalent production in the quarter.Lease operating expense decreased 11% during the quarter compared to the second quarter.Red Fork and SOHOT well results continue to meet or exceed expectations.Contract drilling segment:BOSS drilling rigs continue to be 100% contracted.Construction of the 14th BOSS drilling rig was substantially completed and the rig is expected to begin working during the fourth quarter.Mid-stream segment:Continued third-party operator drilling activity in the Cashion/Reeding gathering and p
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