UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): December 22, 2004 Unit Corporation (Exact name of registrant as specified in its charter) Oklahoma 1-9260 73-1283193 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 7130 South Lewis, Suite 1000, 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 - --- CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR - --- 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the - --- Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the - --- Exchange Act (17 CFR 240.13e-4(c))Item 8.01 Other Events. ------------- Unit Corporation announced today its consolidated capital expenditure budget for 2005 of $205 million, allocated between its three primary subsidiaries, Unit Drilling Company, Unit Petroleum Company and Superior Pipeline Company LLC. Item 9.01 Financial Statements and Exhibits. ---------------------------------- (a) Financial Statements of Businesses Acquired. -------------------------------------------- Not Applicable. (b) Pro Forma Financial Information. -------------------------------- Not Applicable. (c) Exhibits. --------- 99.1 Press release announcing Unit Corporation consolidated capital expenditure budget for 2005 SIGNATURES 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. Unit Corporation Date: December 22, 2004 By: /s/ Mark E. Schell -------------------- Name: Mark E. Schell Title: Senior Vice President 2 EXHIBIT INDEX ------------- 99.1 Press release announcing Unit Corporation consolidated capital expenditure budget for 2005 3
news UNIT CORPORATION - ------------------------------------------------------------------------------ 7130 South Lewis Avenue, Tulsa, Oklahoma 74136 Telephone 918 493-7700, Fax 918 493-7711 Contact: Larry D. Pinkston President and Chief Operating Officer (918) 493-7700 For Immediate Release... December 22, 2004 UNIT CORPORATION ANNOUNCES ITS CAPITAL EXPENDITURE BUDGET FOR 2005 Tulsa, Oklahoma . . . Unit Corporation (NYSE - UNT) announced today its consolidated capital expenditure budget for 2005 of $205 million, allocated between its three primary subsidiaries, Unit Drilling Company, Unit Petroleum Company and Superior Pipeline Company LLC. This is an increase of 30% over estimated 2004 capital expenditures, excluding acquisitions. Unit's wholly-owned contract drilling subsidiary, Unit Drilling Company, will receive $60 million, a 20% increase over estimated 2004 capital expenditures, excluding acquisitions. Of this, $17 million will be budgeted for drill pipe and $43 million will be used primarily for rig maintenance and additions. Unit Petroleum Company, Unit's wholly-owned exploration and production subsidiary, will receive $125 million, a 20% increase over estimated 2004 capital expenditures, excluding acquisitions. Of this amount, $105 million is designated to be spent on drilling, $20 million will go to the purchase of acreage and seismic. Superior Pipeline Company LLC, Unit's wholly-owned natural gas gathering and processing subsidiary, will receive $20 million. The budget reflects Unit's focus on growing this segment through the construction of new facilities or acquisitions. Mr. John Nikkel, Unit's Chairman and Chief Executive Officer, said, "During 2005, we plan to drill approximately 220 to 230 wells, up 35% over 2004. Our drilling will be focused primarily in the Anadarko and Arkoma Basins of Oklahoma and Texas and the Permian Basin and Gulf Coast area of Texas. We believe 2005 will see a continuation of the strong demand for our contract drilling services and improving conditions for the energy industry.--------------------------------- Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. Unit's Common Stock is listed on the New York Stock Exchange under the symbol UNT. For more information about Unit Corporation, visit its 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 estimated budget for the company's operations, future demand for oil and natural gas, future rig utilization and dayrates, the prospective capabilities of offset acreage, anticipated oil and natural gas prices, the number of wells to be drilled by the company, 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.