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): January 5, 2005 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 on January 5, 2005 that its wholly owned subsidiary, Unit Drilling Company, has closed an acquisition to purchase a subsidiary of Strata Drilling LLC for $10.5 million in cash. Through this acquisition, Unit Drilling Company will acquire two drilling rigs, its 102nd and 103rd rigs, as well as spare parts, inventory, drill pipe, and other major rig components. 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 January 5, 2005 press release from Unit Corporation announcing that its wholly owned subsidiary, Unit Drilling Company, has closed an acquisition to purchase a subsidiary of Strata Drilling LLC for $10.5 million in cash. 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: January 5, 2005 By: /s/ Mark E. Schell -------------------- Name: Mark E. Schell Title: Senior Vice President 2 EXHIBIT INDEX ------------- 99.1 January 5, 2005 press release from Unit Corporation announcing that its wholly owned subsidiary, Unit Drilling Company, has closed an acquisition to purchase a subsidiary of Strata Drilling LLC for $10.5 million in cash. 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... January 5, 2005 UNIT CORPORATION ANNOUNCES CLOSING OF ACQUISITION Tulsa, Oklahoma . . . Unit Corporation (NYSE - UNT) announced today that its wholly owned subsidiary, Unit Drilling Company, has closed an acquisition to purchase a subsidiary of Strata Drilling LLC for $10.5 million in cash. Through this acquisition, Unit Drilling Company will acquire two drilling rigs, its 102nd and 103rd rigs, as well as spare parts, inventory, drill pipe, and other major rig components. The two existing rigs are 1,500 horsepower, diesel electric rigs with the capacity to drill 12,000 to 20,000 feet. One rig is currently operating under contract and the other rig will require approximately $2 million in expenditures to complete. The latter rig should be fully operational within 90 days. Currently, Unit has all 100 of its drilling rigs operating under contract. Its 101st rig, previously under construction, is complete and will be operating under contract next week. Unit also plans to initiate construction of its 104th rig, a 1,500 horsepower diesel electric rig. Both of the two rigs acquired in our recent acquisition and our 104th rig will be added to our 19-rig Rocky Mountain Division. Mr. Larry Pinkston, Unit's President and Chief Operating Officer, said, "This acquisition will complement our current drilling rig fleet and will help to meet our customers' growing demand for drilling rigs." ___________________________________________ 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 intended operating location of the recently acquired drilling rigs, 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.