Unit Corporation Provides Earnings Guidance for the Second Quarter and Six Months Ended June 30, 2022
July 22, 2022 at 09:15 am EDT
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Unit Corporation provided earnings guidance for the second quarter and six months ended June 30, 2022. Net income attributable to company for the three months ended June 30, 2022 is expected to be $80.1 million, or $7.82 per diluted share, compared to loss of $13.0 million, or $1.09 per diluted share, for the three months ended June 30, 2021. Total revenues for the three months ended June 30, 2022 is expected to be $134.6 million, compared to $134.1 million for the three months ended June 30, 2021.
For the six months ended June 30, 2022, net income attributable to the company is expected to be $33.2 million, or $3.25 per diluted share, compared to loss of $14.9 million, or $1.25 per diluted share, for the six months ended June 30, 2021. Total revenues for the six months ended June 30, 2022 is expected to be $322.9 million, compared to $255.0 million for the six months ended June 30, 2021.
Unit Corporation is a natural gas contract drilling company. The Company is primarily engaged in the development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing, and treating of natural gas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores, develops, acquires, and produces oil and natural gas properties for its own account. The Contract Drilling segment contracts to drill onshore oil and natural gas wells for others and for its own account. The Mid-Stream segment buys, sells, gathers, processes, and treats natural gas for third parties and for its own account. The Companyâs producing oil and natural gas properties, unproved properties, and related assets are primarily located in Oklahoma and Texas, in addition to Arkansas, Kansas, and North Dakota to a lesser extent.
UNIT CORPORATION 
