Welcome to our dedicated page for UNIT news (Ticker: UNTC), a resource for investors and traders seeking the latest updates and insights on UNIT stock.
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) 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.
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.