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) is a Tulsa-based, publicly held energy company engaged in oil and natural gas production through its wholly owned subsidiary, Unit Petroleum Company. The UNTC news feed highlights the company’s operational performance, capital allocation decisions, and strategic actions within the crude petroleum and natural gas extraction industry.
Recent news releases feature quarterly and annual financial results, including total revenues, net income, production volumes for oil, natural gas liquids, and natural gas, and detailed segment information for the oil and natural gas business. These updates often include management commentary on drilling activities, development within core areas of interest, and the impact of commodity price movements.
Investors following UNTC news will also see announcements related to corporate transactions and portfolio changes. The company has reported the sale of its wholly owned contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company, L.L.C. in an all-cash transaction, and has described how this divestiture supports a sharper focus on upstream operations and new drilling opportunities.
Another key theme in Unit Corporation’s news is shareholder returns. The company has announced a recurring quarterly cash dividend of $1.25 per share of common stock for multiple quarters, funded by cash on its balance sheet, and has disclosed prior special and quarterly dividends as well as share repurchases. News items also describe the use of commodity derivatives, such as natural gas and crude oil swaps, and how these hedges help stabilize cash flows.
This news page allows readers to monitor UNTC’s earnings releases, dividend declarations, strategic transactions, hedging updates, and other corporate developments over time.
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.
Unit (OTCQX: UNTC) has announced the payment details for its third quarter cash dividend of 2024. The company will distribute $1.25 per share of common stock on September 27, 2024. Shareholders who are on record as of the close of business on September 16, 2024, will be eligible to receive this dividend. Unit has confirmed that the quarterly cash dividend will be funded using the cash available on the company's balance sheet. This announcement provides clarity on the dividend distribution timeline and demonstrates the company's commitment to returning value to its shareholders.
Unit (OTCQX: UNTC) reported its second quarter 2024 results. Net income for Q2 2024 was $11.5 million ($1.15 per diluted share), compared to $28.0 million ($2.86 per diluted share) in Q2 2023. Total revenue for Q2 2024 was $56.8 million, down from $78.6 million in Q2 2023. For the first half of 2024, net income was $27.6 million ($2.76 per diluted share), compared to $162.7 million ($16.62 per diluted share) in H1 2023. Total revenue for H1 2024 was $124.0 million, down from $172.5 million in H1 2023.
The company's oil and natural gas segment saw mixed price changes, with oil prices up but natural gas prices down. Production volumes decreased across all categories. In the contract drilling segment, the average number of drilling rigs in use decreased by 24% in Q2 2024 compared to Q2 2023.
Unit declared a quarterly dividend of $1.25 per share for Q2 2024, payable on June 27, 2024.
Unit (OTCQX: UNTC) has announced the payment and record dates for its second-quarter cash dividend for 2024. The dividend is set at $1.25 per share and will be distributed on June 27, 2024. Shareholders eligible for this payout must be on record by the close of business on June 17, 2024. The dividend will be financed using cash available on the company's balance sheet.
Unit reported a net income of $16.1 million for the first quarter of 2024, a decrease from $134.7 million in the same period in 2023. Total revenues were $67.2 million, down from $93.9 million in 2023. The company is focusing on core asset development after selling non-core assets. Operational highlights show decreases in oil and natural gas production volumes but an increase in oil prices.
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