Welcome to our dedicated page for Unit Corporation news (Ticker: UNTC), a resource for investors and traders seeking the latest updates and insights on Unit Corporation stock.
Unit Corporation (UNTC) delivers comprehensive energy solutions through oil exploration, natural gas production, and contract drilling services across key US basins. This dedicated news hub provides investors and industry professionals with essential updates on the company's operational and financial developments.
Access real-time announcements including quarterly earnings reports, strategic acquisitions, drilling program expansions, and processing facility updates. Our curated collection ensures you stay informed about UNTC's activities in the Anadarko Basin, Permian operations, and gas gathering infrastructure improvements.
Key updates cover three core business segments: Exploration & Production drilling results, Contract Drilling fleet deployments, and Midstream processing capacity changes. Additional coverage includes leadership appointments, sustainability initiatives, and regulatory compliance achievements.
Bookmark this page for streamlined access to UNTC's latest operational milestones and financial disclosures. Combine sector-specific expertise with timely updates to inform your energy market analysis and investment decisions.
Unit Corporation (OTCQX: UNTC) has announced the sale of its contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company in an all-cash transaction valued at $120 million. The deal was unanimously recommended by the company's strategic transactions committee and approved by the board of directors.
The strategic divestment aims to sharpen the company's focus on upstream operations, where management sees significant value creation opportunities. Unit Corporation expects its tax attributes to substantially offset gains from the transaction. The company plans to maintain its regular dividend program and will evaluate new drilling project investments for future growth.
Unit Corporation (OTCQX: UNTC) announced changes to its board composition. Director Steven B. Hildebrand will not seek re-election at the 2025 annual meeting of stockholders. To maintain balance between director groups as required by the company charter, Alan J. Carr has resigned as a Group 2 Director and been appointed to fill a vacancy in Group 1 Directors. Following these changes, there are now two directors in Group 1 and three directors in Group 2. Group 1 Directors will be up for election at the 2025 annual meeting.
Unit Corporation (OTCQX: UNTC) has declared a quarterly cash dividend of $1.25 per share for the third quarter of 2025. The dividend will be paid on September 26, 2025, to shareholders of record as of September 16, 2025. The company plans to fund this dividend payment using available cash from its balance sheet.
Unit Corporation (OTCQX: UNTC) reported strong Q2 2025 financial results with net income of $22.1 million ($2.22 per diluted share), nearly doubling from $11.5 million in Q2 2024. Total revenue increased to $59.1 million from $56.8 million year-over-year.
The company's operational highlights include an 18% increase in oil production to 201 MBbls and a 27% rise in NGL production to 276 MBbls. Natural gas production grew by 10% to 3,276 MMcf. In the contract drilling segment, UNTC maintained 14 total rigs with an average of 11.3 rigs in use during Q2 2025.
The company maintained its quarterly dividend of $1.25 per share and has active hedging positions for natural gas and crude oil extending into 2026.
Unit (UNTC) reported its financial results for Q4 and full-year 2024. Net income for Q4 2024 was $10.7 million ($1.07 per diluted share), down from $57.4 million in Q4 2023. Total revenue decreased to $59.9 million in Q4 2024 from $74.6 million in Q4 2023.
For the full year 2024, net income was $47.2 million ($4.75 per diluted share), compared to $248.9 million in 2023. Annual revenue declined to $237.6 million from $327.3 million in 2023. The company declared a quarterly cash dividend of $1.25 per share for Q1 2025.
In March 2025, UNTC entered natural gas swap agreements for 15,000 MMBtu/day (April-December 2025) at $4.69/MMBtu and 5,000 MMBtu/day for 2026 at $4.22/MMBtu. During 2024, the company repurchased 97,354 shares at an average price of $33.94, totaling $3.3 million.
Unit (OTCQX: UNTC) has confirmed the payment details for its first quarter 2025 cash dividend. The company will distribute a quarterly dividend of $1.25 per share to shareholders, with the payment scheduled for March 28, 2025. To qualify for this dividend, investors must be shareholders of record by the close of business on March 18, 2025. The company has stated that this quarterly dividend payment will be funded using available cash from its balance sheet.
Unit (UNTC) has announced two dividend payments for shareholders: a quarterly cash dividend of $1.25 per share and a special cash dividend of $2.00 per share. Both dividends will be paid on December 27, 2024, to shareholders of record as of December 17, 2024.
The company has expressed its intention to continue the quarterly $1.25 per share dividend throughout 2025. CEO Phil Frohlich attributes this dividend program to the company's strong operations and capital discipline. Future dividend payments will remain subject to board approval and various business factors.
Unit (UNTC) reported Q3 2024 net income of $8.9 million ($0.89 per diluted share), down from $28.8 million ($2.94 per diluted share) in Q3 2023. Total revenue decreased to $53.7 million from $80.2 million year-over-year. For the nine months ended September 30, 2024, net income was $36.6 million ($3.67 per diluted share), compared to $191.5 million in the same period of 2023. The company maintained quarterly dividends of $1.25 per share throughout 2024. Results reflect a stable contract drilling market and decreased production volumes following the December 2023 sale of Texas Panhandle assets.
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