UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 21, 2002 UNIT CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware 1-9260 73-1283193 (State of Incorporation) (Commission File (IRS Employer Number) Identification No.) 1000 Kensington Tower, 7130 South Lewis, Tulsa, Oklahoma 74136 (Address Of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (918) 493-7700 (Not Applicable) (Former Name Or Former Address, If Changed Since Last Report) ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE On March 21, 2002, Unit Corporation announced that it has reached an agreement with a privately-held company to acquire twenty drilling rigs and related equipment for 7.5 million shares of Unit Corporation common stock. This acquisition is subject to finalization of terms of a definitive agreement as well as certain other conditions customary in this type of transaction. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. The Registrant files the following exhibits as part of this report: Exhibit No. Description - ----------- ----------- 99 Press Release, issued by Unit Corporation on March 21, 2002, announcing the agreement to acquire twenty drilling rigs and related equipment as reported herein. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 27, 2002 -------------- UNIT CORPORATION By: /s/ John G. Nikkel ------------------------ John G. Nikkel President 1 Exhibit Index - ------------- Exhibit No. Description - ----------- ----------- 99 Press Release, issued by Unit Corporation on March 21, 2002, announcing the agreement to acquire twenty drilling rigs and related equipment as reported herein. 2
news UNIT CORPORATION ________________________________________________________________________________ 1000 Kensington Tower, 7130 South Lewis Avenue, Tulsa, Oklahoma 74136 Telephone 918 493-7700, Fax 918 493-7714 Contact: John G. Nikkel President and Chief Executive Officer (918) 493-7700 For Immediate Release. March 21, 2002 UNIT CORPORATION TO ACQUIRE TWENTY ADDITIONAL DRILLING RIGS Tulsa, Oklahoma . . . Unit Corporation (NYSE - UNT) announced today that it has reached an agreement with a privately-held company to acquire twenty drilling rigs and related equipment for 7.5 million shares of Unit Corporation common stock. Of the rigs, all of which are operational, 16 are currently under contract. The rigs range in horsepower from 650 to 2,000 with 15 having a horsepower rating of 1,000 or more. Twelve of the rigs are SCR electric. Depth capacities range from 12,000 to 25,000 feet. This acquisition is subject to finalization of terms of a definitive agreement as well as certain other conditions customary in this type of transaction. On closing of this transaction, Unit's rig fleet will consist of 75 drilling rigs. ______________________________________________________ Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and natural gas exploration, production and contract drilling. Unit's Common Stock is listed on the New York Stock Exchange under the symbol UNT. For more information about Unit Corporation, visit our website at http://www.unitcorp.com. This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including the closing of the transaction described in this release, anticipated financial results of the company, future rig utilization and dayrates, anticipated oil and natural gas prices, development, operational, implementation and opportunity risks, and other factors described from time to time in the company's publicly available SEC reports, which could cause actual results to differ materially from those expected.