Capital Markets | Capital Expenditure
Unit Corporation Announces 2012 Capital Expenditure Budget
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Unit Corporation (NYSE: UNT) announced today its initial 2012 capital expenditure budget, 2012 production guidance and 2011 total proved oil and natural gas reserves, as well as certain operational updates for each of its three business segments. This information is unaudited and preliminary and is subject to change. Audited final results will be reported in Unit's Schedule 10-K for the year ended December 31, 2011.
2012 Capital Expenditure Budget
The 2012 capital expenditures budget for all of Unit's business segments is $801 million, an increase of 6% over estimated 2011 capital expenditures, excluding acquisitions. Of this amount, $457 million is budgeted for its oil and natural gas segment, which includes $385 million for drilling and completion activities, an 11% decrease over…
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