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): October 7, 2005
Unit Corporation
(Exact name of registrant as specified in its charter)
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Delaware |
1-9260 |
73-1283193 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
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7130 South Lewis, Suite 1000, Tulsa, Oklahoma |
74136 |
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(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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(17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
(17 CFR 240.13e-4(c))
Section 7 – Regulation FD.
Item 7.01 Regulation FD Disclosure.
On October 7, 2005, Unit Corporation announced that its wholly owned subsidiary, Unit Petroleum Company, has signed a purchase and sale agreement to acquire certain oil and natural gas properties from a group of private entities for approximately $82.4 million in cash. The acquisition consists of approximately 42.5 Bcfe of proved oil and natural gas reserves. The properties are located in Oklahoma, Arkansas and Texas and currently produce 6.5 MMcfe per day. The acquisition will have an effective date of July 1, 2005. Closing of the acquisition, which is subject to certain conditions contained in the agreement, is anticipated to be mid-November.
The press release furnished as an exhibit to this report includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, the Company's actual results may differ materially from those indicated or implied by such forward-looking statements.
Section 9 – Financial Statements and Exhibits.
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
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99.1 |
Unit Corporation press release dated October 7, 2005. |
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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.
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Unit Corporation | |
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Date: October 7, 2005 |
By: |
/s/ Mark E. Schell |
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Mark E. Schell Senior Vice President and General Counsel
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EXHIBIT INDEX
Exhibit No. Description.
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99.1 |
Unit Corporation press release dated October 7, 2005 |
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UNIT CORPORATION |
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| 7130 South Lewis Avenue, Suite 1000 Tulsa, Oklahoma 74136 Telephone 918 493-7700, Fax 918 493-7711 | |
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Contact: |
David T. Merrill |
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Chief Financial Officer | |||
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and Treasurer |
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(918) 493-7700 |
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For Immediate Release...
October 7, 2005
UNIT CORPORATION ANNOUNCES SIGNING
OF AGREEMENT FOR ACQUISITION
Tulsa, Oklahoma . . . Unit Corporation (NYSE – UNT) announced today that its wholly owned subsidiary, Unit Petroleum Company, has signed a purchase and sale agreement to acquire certain oil and natural gas properties from a group of private entities for approximately $82.4 million in cash. The acquisition consists of approximately 42.5 Bcfe of proved oil and natural gas reserves. The properties are located in Oklahoma, Arkansas and Texas and currently produce 6.5 MMcfe per day. The acquisition will have an effective date of July 1, 2005. Closing of the acquisition, which is subject to certain conditions contained in the agreement, is anticipated to be mid-November.
Larry Pinkston, President and Chief Executive Officer, said, “The majority of the wells in this acquisition are located in Oklahoma, so the properties will fit well with Unit’s core area of operations and will help us to further develop and exploit fields and supply a basis for future drilling.”
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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 that the acquisition which is the subject of this press release will close, the estimated oil and natural gas reserves associated with this acquisition, and the current productive capabilities of the wells included in the pending acquisition, 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.