Date: 4/19/2006     Form: 8-K - Current report
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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): April 19, 2006

Unit Corporation
(Exact name of registrant as specified in its charter)

 
Delaware
 
1-9260
 
73-1283193
 
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
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))
 
 
 
Section 7 - Regulation FD
 
Item 7.01 Regulation FD Disclosure.
 
On April 19, 2006, the Company issued a press release announcing 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 four private entities for approximately $32.4 million in cash.
 
This press release, which is furnished as Exhibit 99.1 to this Form 8-K, 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)
Shell Company Transactions.
Not Applicable.
2
 
(d)
Exhibits.
 
       The following exhibits are furnished or filed herewith:
 
99.1
 
Unit Corporation press release dated April 19, 2006.
 


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: April 19, 2006
By: /s/ Mark E. Schell
 
 
Name: Mark E. Schell
 
 
Title: Senior Vice President
 

 
 
 
 
 
 
 
 
 

 

3




EXHIBIT INDEX



Exhibit No.  
Description
 
   
99.1
 
Unit Corporation press release dated April 19, 2006.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 


4
 

Exhibit 99.1
news
UNIT CORPORATION
 
7130 South Lewis Avenue, Suite 1000, Tulsa, Oklahoma 74136
 
Telephone 918 493-7700, Fax 918 493-7714

Contact:
David T. Merrill
 
Chief Financial Officer
 
and Treasurer
 
(918) 493-7700
 
For Immediate Release…
April 19, 2006

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 $32.4 million in cash. Proved oil and natural gas reserves involved in this acquisition consist of approximately 14.2 Bcfe. The properties currently produce 3.0 MMcfe per day. Approximately 45% of the reserves associated with these properties are located in Oklahoma, 36% are located in Texas and 19% in New Mexico. This acquisition will have an effective date of April 1, 2006. The closing date for this acquisition, which is subject to certain conditions contained in the definitive agreements, is anticipated to be May 12, 2006.
Larry Pinkston, President and Chief Executive Officer, said, "These properties fit well in our core area of operations, and have substantial upside potential. We are very excited about the integration of these properties into our future development and exploration program.”
 
______________________________________________________________________

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.