Exploration & Production | General | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Unit Corp. Hones In on Liquids-Rich Projects in 2013
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Unit Corporation reported its financial and operational results for the fourth quarter and year 2013.
Notable items for the company for the quarter include: Adjusted non-GAAP net income of $54.3 million, or $1.11 per diluted share. Total production of 4.4 MMBoe, an increase of 8% over the fourth quarter of 2012. Total liquids (oil and NGLs) production increased 21% over the comparable quarter of 2012. Completed the sale of a 2,000 horsepower drilling rig and a 3,000 horsepower drilling rig, bringing to five the number of drilling rigs sold in 2013. Wilcox PlayThe Wilcox play in southeast Texas continues to deliver strong results with average daily production for the fourth quarter of 2013 increasing approximately 12% and 45% compared to the third quarter 2013 and the fourth quarter…
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