Item 2.02 Results of Operations and Financial Condition.
On July 13, 2021, Unit Corporation (the "Company") issued a press release
announcing that as of June 30, 2021, the Company's long-term debt was $35
million. The Company has not finalized its financial statements for the quarter
ended June 30, 2021, including all disclosures required by Generally Accepted
Accounting Principles in the United States, and Grant Thornton has not reviewed,
compiled, or performed any procedures with respect to the Company's long-term
debt. Accordingly, the foregoing estimate of the Company's long-term debt as of
and for the quarter ended June 30, 2021 is subject to change.
Item 7.01 Regulation FD Disclosure.
The board of directors of the Company has authorized repurchasing up to $25
million of its outstanding common stock. The repurchases will be made through
open market purchases, privately negotiated transactions, or other available
means. Repurchases will be made from time to time at the Company's discretion
depending on market conditions, share price and availability, and other factors.
The Company intends to fund repurchases from available liquidity. The Company
has no obligation to repurchase any shares under the repurchase program and may
suspend or discontinue it at any time without prior notice.
The information contained in this report, including Exhibit 99.1, is being
furnished and shall not be deemed "filed" for any purposes, including for the
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section. Such information shall not
be incorporated by reference into any filing of the Company, whether made before
or after the date hereof, regardless of any general incorporation language in
such filing.
The press release furnished as an exhibit to this report contains
forward-looking statements within the meaning of the Securities Act and the
Exchange Act. Those forward-looking statements are subject to certain risks and
uncertainties, as disclosed by the Company in its filings with the Securities
and Exchange Commission. Because of these risks, the Company's actual results
may differ materially from those indicated or implied by the forward-looking
statements. Except as required by law, we disclaim any obligation to publicly
update or revise forward looking statements after the date of this report to
conform them to actual results.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Description
99.1 Press Release dated July 13, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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