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Unit Ramps Up MidContinent Production; Talks Well Results
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Unit Corp. has reported a second quarter 2014 update on its operations.
Production increased in all five of Unit's core areas during the quarter as compared to the first quarter. In the Mid Continent, which includes the Granite Wash, Hoxbar (SOHOT), Marmaton, and Mississippian formations, production increased approximately 10%, and in the SE Texas Wilcox formation production increased approximately 17%. At the end of the quarter, 15 Unit drilling rigs were operating as compared to 10 drilling rigs at the end of the first quarter. Currently, there are five drilling rigs in the Granite Wash, three in the SOHOT, two in the Wilcox, two in the Marmaton, one in the Mississippian, one in the Cleveland, and one in the Cherokee for a total of 15 drilling rigs. Unit expects to maintain between 14…
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