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 2, 2006
(Exact
name of registrant as specified in its charter)
Delaware
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1-9260
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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
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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:
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
8 - Other Events
Item
8.01 Other Events.
On
October 2, 2006, the company announced that
its
wholly owned subsidiary, Unit Petroleum Company,
has
signed an agreement to acquire Brighton
Energy, LLC, a privately owned oil and natural gas company for approximately
$67.0 million in cash. The acquisition involves all of Brighton’s oil and
natural gas assets outside of the southeastern Arkoma Basin and includes
approximately 27.0 Bcfe of proved reserves and 5.0 MMcfe per day of
current
production. This
acquisition is effective August 1, 2006 and is expected to close October
13,
2006, subject to certain conditions contained in the definitive
agreements.
On October
2, 2006, the company also announced that its wholly owned subsidiary,
Superior Pipeline Company, LLC, closed
its acquisition of Berkshire Energy LLC., a private company for an
adjusted
purchase price of $21.7 million. The principal assets of this company
are all
located in an established but highly active field in central Oklahoma
and
consist of a natural gas processing plant, a natural gas gathering
system with
15 miles of pipeline, three field compressors and two plant compressors.
Unit
also
announced on October 2, 2006, that effective immediately it has engaged
American
Stock Transfer & Trust Company to serve as Transfer Agent & Registrar
for its common stock in place of Mellon Investor Services, LLC.
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)
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Financial
Statements of Businesses Acquired.
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Not
Applicable.
(b)
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Pro
Forma Financial Information.
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Not
Applicable.
(c)
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Shell
Company Transactions.
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Not
Applicable.
2
(d)
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Exhibits.
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The following exhibits are furnished or filed herewith:
99.1
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Unit
Corporation press release dated October 2, 2006.
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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 3, 2006
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By:
/s/
Mark E. Schell
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|||
Name:
Mark E. Schell
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||||
Title:
Senior Vice President
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3
EXHIBIT
INDEX
Exhibit No. |
Description
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||
99.1
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Unit
Corporation press release dated October 2, 2006.
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4
news
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UNIT
CORPORATION
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7130
South Lewis Avenue, Suite 1000, Tulsa, Oklahoma 74136
|
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Telephone
918 493-7700, Fax 918 493-7711
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Contact:
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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
2, 2006
UNIT
CORPORATION ANNOUNCES SIGNING OF AGREEMENT TO ACQUIRE OIL & NATURAL GAS
COMPANY; COMPLETES PURCHASE OF NATURAL GAS GATHERING COMPANY IN OKLAHOMA;
AND
HIRES NEW TRANSFER AGENT
Tulsa,
Oklahoma . . . Unit Corporation (NYSE - UNT) announced today that its
wholly
owned subsidiary, Unit Petroleum Company, has signed an agreement to
acquire
Brighton Energy, LLC, a privately owned oil and natural gas company for
approximately $67.0 million in cash. The acquisition involves all of
Brighton’s
oil and natural gas assets outside of the southeastern Arkoma Basin and
includes
approximately 27.0 Bcfe of proved reserves and 5.0 MMcfe per day of current
production. The reserves are 78% natural gas and 67% proved developed.
The
majority of the acquired reserves are located in the Anadarko and Gulf
Coast
basins of Oklahoma, Texas and Louisiana, with additional reserves in
Arkansas,
Kansas, Montana, North Dakota and Wyoming. Unit has identified 27 proved
undeveloped locations that can be drilled in addition to numerous probable
and
possible locations. This acquisition is effective August 1, 2006 and
is expected
to close October 13, 2006, subject to certain conditions contained in
the
definitive agreements.
Unit
also
announced today that its wholly owned subsidiary, Superior Pipeline Company,
LLC, closed its acquisition of Berkshire Energy LLC., a private company
for an
adjusted purchase price of $21.7 million. The principal assets of this
company
are all located in an established but highly active field in central
Oklahoma
and consist of a natural gas processing plant, a natural gas gathering
system
with 15 miles of pipeline, three field compressors and two plant compressors.
The plant’s capacity is 15,000 Mcf per day and the current average system inlet
volume is 7,000 Mcf per day.
Larry
Pinkston, President and Chief Executive Officer, said, "Both of these
acquisitions fit in our core areas and have substantial upside potential.
We are
pleased that Unit has been able to enter into these transactions as part
of our
continuing efforts to ensure the future growth of the company.”
Unit
also
announced that effective immediately it has engaged American Stock Transfer
& Trust Company to serve as Transfer Agent & Registrar for its common
stock in place of Mellon Investor Services, LLC. American Stock Transfer
&
Trust Company’s toll-free telephone numbers, address, and website for
shareholder account inquiries are as follows:
For
General Information:
American
Stock Transfer & Trust Company
Shareholder
Relations
59
Maiden
Lane - Plaza Level
New
York,
NY 10038
PH:
800-710-0929
Fax:
718-236-2641
Email:
info@amstock.com
Website:
www.amstock.com
__________________________________________________________________
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
possibility that the pending acquisition which is discussed in this press
release may fail to close, that the ultimate quantity and value of the
estimated
oil and natural gas reserves associated with the pending acquisition
actually
differ from those contained in this release, the estimates used in the
valuation
of the pending and completed acquisition, including prices used in calculating
reserve values, may vary significantly from actual results, and that
the
disclosed current productive capabilities of the oil and natural gas
wells
included in the pending acquisition varies from that disclosed, 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.