EX-99 3 postpricingrelease121003.txt POST PRICING PRESS RELEASE news UNIT CORPORATION ----------------------------------------------------------------------------- 1000 Kensington Tower, 7130 South Lewis Avenue, Tulsa, Oklahoma 74136 Telephone 918 493-7700, Fax 918 493-7714 Contact: Larry D. Pinkston President, Treasurer and Chief Financial Officer (918) 493-7700 For Immediate Release... December 10, 2003 UNIT CORPORATION ANNOUNCES PRICING OF PUBLIC OFFERING TULSA, Okla., (NYSE - UNT) Dec. 10 -- Unit Corporation announced today that it has priced its previously announced public offering of 2 million shares of its common stock at $22.00 per share. All shares are being sold by Unit Corporation. Unit anticipates that the transaction will close on December 15, 2003. Unit has also granted to the underwriters a 30-day option to purchase up to 300,000 additional shares of its common stock to cover any over-allotments. The net proceeds from the offering will be used to repay amounts borrowed under its bank facility to finance the SerDrilco acquisition. The offering was led by Banc of America Securities LLC as the sole book-running manager. First Albany Capital was a co-lead manager on the transaction. A final prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. When available, copies of the final prospectus supplement relating to the offering may be obtained from the offices of Banc of America Securities LLC; e-mail: Bryan.J.Smull@bofasecurities.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including the possibility that the transaction discussed in this release may not close, future rig utilization and dayrates, the number of wells to be drilled by the company, development, operational, implementation and opportunity risks, and other factors described from time to time in the company's publicly available SEC reports, which could cause actual results to differ materially from those expected. Unit is an independent energy company. Through its subsidiaries, the Company drills onshore oil and natural gas wells for other parties and engages in the acquisition, exploration, development and production of oil and natural gas properties. Unit was founded in 1963 as a contract drilling company and in 1979 the Company began to develop its exploration and production operations to diversify its contract drilling revenues. The Company's operations are principally located in the Mid-Continent region, as well as the Permian, Gulf Coast Basins and the Rocky Mountain area of the United States. As of December 9, 2003, the Company operates 88 drilling rigs through its wholly-owned subsidiary, Unit Drilling Company. As of December 31, 2002, the Company's wholly-owned subsidiary, Unit Petroleum Company, owned proved oil and natural reserves of approximately 269 Bcfe.