-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MCxcwMcroRAJDkv6frhpQSxW0FrgmjquEFmVhN/TvJWJkqq5fJWtmhP4FH4F+1m7 k1Gw2lnDrHQB2UkaON26EQ== 0000798949-00-000023.txt : 20000525 0000798949-00-000023.hdr.sgml : 20000525 ACCESSION NUMBER: 0000798949-00-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000524 ITEM INFORMATION: FILED AS OF DATE: 20000524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIT CORP CENTRAL INDEX KEY: 0000798949 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 731283193 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09260 FILM NUMBER: 642629 BUSINESS ADDRESS: STREET 1: 1000 KENSINGTON TOWER STREET 2: SUITE 1000 CITY: TULSA STATE: OK ZIP: 74136 BUSINESS PHONE: 9184937700 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 24, 2000 UNIT CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware 1-9260 73-1283193 (State of (Commission File Number) (IRS Employer Incorporation) Identification No.) 1000 Kensington Tower, 7130 South Lewis, Tulsa, Oklahoma 74136 (Address Of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (918) 493-7700 (Not Applicable) (Former Name Or Former Address, If Changed Since Last Report) ITEM 5. OTHER EVENTS. We are filing this report on Form 8-K to release the financial results of Unit Corporation for April, 2000. On March 20, 2000, we completed the acquisition, by merger, of Questa Oil and Gas Co.("Questa") under which Questa became a wholly owned subsidiary of Unit Corporation. In the merger each of Questa's outstanding shares of common stock (excluding treasury shares) was converted into the right to receive .95 shares of our common stock totaling approximately 1.8 million shares. The merger has been accounted for as a pooling of interests. These results represent 30 days of post merger combined operating results and are submitted pursuant to the requirements of Accounting Series Release No. 135 as interpreted by Staff Accounting Bulletin No. 65. Consolidated net income for the month of April, 2000 was $1.4 million, or four cents per share, on revenue of $12.7 million. Consolidated cash flow from operations before changes in working capital was $4.5 million. Revenues from Unit's oil and natural gas operations were $5.1 million. Average natural gas and oil prices received for the month were $2.81 and $23.93, respectively with natural gas production of 1,442,000 Mcf and oil production of 39,000 barrels. Operating margins for the month were 71 percent. Contract drilling revenues were $7.5 million with an average of 36.1 rigs working during the period. Operating margins for contract drilling were 23 percent with operating profit before depreciation of $1.7 million. Weighted average diluted common shares outstanding for the period were 36,117,000. Results for the one month period ended April 30, 2000 are not necessarily indicative of the results to be realized during the quarter ending June 30, 2000 or for the full year. This Form 8-K should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 1999 and Form 10-Q for the quarter ended March 31, 2000. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 24, 2000 -------------- UNIT CORPORATION By: /s/ Larry D. Pinkston -------------------------- Larry D. Pinkston Vice President, Chief Financial Officer and Treasurer 2 -----END PRIVACY-ENHANCED MESSAGE-----