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Unit Corporation reports company developments tied to its oil and natural gas production business, which operates through wholly owned subsidiary Unit Petroleum Company. News for UNTC centers on quarterly and annual OTC financial statements, upstream operating results, commodity hedge disclosures, cash dividend announcements, and capital allocation updates.
The company’s recent corporate news also reflects its completed sale of Unit Drilling Company, the former contract drilling subsidiary, and related reporting of discontinued operations. Governance items include board-class matters and director rebalancing under the company’s charter.
Unit Corporation (OTCQX: UNTC) announced a quarterly cash dividend of $1.25 per share for the second quarter of 2026.
The dividend will be paid on June 26, 2026 to shareholders of record on June 16, 2026, funded by existing cash.
Unit Corporation (UNTC) reported first quarter 2026 results and announced a divestiture. Q1 total revenues were $29.07 million and diluted EPS was $0.47 from continuing operations. The company entered a purchase agreement to sell deep Woodford and Mississippian rights for approximately $18.7 million, expected to close within 60 days. Oil production rose 5% year-over-year while total production fell 1%.
Unit Corporation (OTCQX: UNTC) reported 2025 results reflecting a major divestiture and strong earnings. The company sold Unit Drilling Company for $119.7 million, realizing a taxable gain of $106.5 million that was offset by $104.5 million NOLs and $3.8 million federal tax credits.
Total revenues were $102.3 million in 2025 and consolidated net income was $98.3 million with total diluted EPS of $9.87. The board declared a $1.25 quarterly dividend for Q1 2026 and repurchases totaled 2,574,246 shares for $82.8 million since emergence from bankruptcy.
Unit Corporation (OTCQX: UNTC) declared a $1.25 per share quarterly cash dividend for Q1 2026. The dividend is payable on March 27, 2026 to holders of record at the close of business on March 17, 2026. The company said the dividend will be funded from cash on its balance sheet.
Unit Corporation (OTCQX: UNTC) announced a quarterly cash dividend of $1.25 per share for Q4 2025. The dividend will be paid on December 26, 2025 to shareholders of record as of the close of business on December 16, 2025. The company said the dividend will be funded by cash on its balance sheet.
Unit Corporation (OTCQX: UNTC) reported third quarter and nine-month 2025 results and disclosed the sale of its contract drilling subsidiary. On October 1, 2025, the company closed the sale of Unit Drilling Company for $120 million in cash, and results for Unit Drilling were classified as discontinued operations for all periods presented.
Selected Q3 2025 metrics: total revenues $23.55M vs $21.28M a year earlier; net income from continuing operations $4.609M; net income from discontinued operations $2.292M; total net income $6.901M; diluted EPS $0.69. The company expects available tax attributes to substantially offset gains from the sale. Quarterly dividends of $1.25 per share were paid in March, June and September 2025.
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.