8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): August 23, 2012

Unit Corporation

(Exact name of registrant as specified in its charter)

Delaware	1-9260	73-1283193
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

7130 South Lewis, Suite 1000, 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)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events.

Item 8.01 Other Events.

On August 23, 2012, Unit Corporation issued a press release announcing that its wholly owned subsidiary, Unit Petroleum Company, has entered into two separate agreements to sell certain non-core oil and natural gas assets for $268.0 million, subject to customary pre-closing and post-closing adjustments.

     The effective date for both transactions is July 1, 2012, and both are anticipated to close in September 2012.  Second quarter 2012 average production for the combined properties being sold was approximately 1,200 net barrels of oil equivalent per day.

                The information included in this report and in exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in the filing.

The press release furnished as an exhibit to this report includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, the Company's actual results may differ materially from those indicated or implied by such 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.

     A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Section 9 - Financial Statements and Exhibits.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description.

99.1 Press release dated August 23, 2012

SIGNATURES

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.

	Unit Corporation
Date: August 23, 2012	By:	/s/ Mark E. Schell
		Mark E. Schell Senior Vice President   and General Counsel

1

EXHIBIT INDEX

Exhibit No.        Description.

99.1 Press release dated August 23, 2012

EX-99.1

news	UNIT CORPORATION
	7130 South Lewis Avenue, Suite 1000, Tulsa, Oklahoma 74136
	Telephone 918 493-7700, Fax 918 493-7714

Contact:	David T. Merrill
	Chief Financial Officer & Treasurer
	(918) 493-7700

For Immediate Release…

August 23, 2012

Unit Corporation Announces Agreements to Sell Certain

Non-Core Oil & Natural Gas Assets

Tulsa, Oklahoma . . . Unit Corporation (NYSE – UNT) announced today that its wholly owned subsidiary, Unit Petroleum Company (“Unit Petroleum”), has entered into two separate agreements to sell certain non-core oil and natural gas assets for $268.0 million, subject to customary pre-closing and post-closing adjustments.  Unit Petroleum has entered into an agreement with QEP Energy, a wholly owned subsidiary of QEP Resources, Inc. (NYSE – QEP), to sell its interest in certain of its Bakken properties as part of a transaction that QEP recently announced it is acquiring in North Dakota’s Williston Basin.  In the other transaction, Unit Petroleum has entered into an agreement with an unaffiliated buyer to sell certain oil and natural gas assets located in Brazos and Madison counties of Texas, including Buda and Woodbine production and associated acreage.

The effective date for both transactions is July 1, 2012, and both are anticipated to close in September 2012.  Second quarter 2012 average production for the combined properties being sold was approximately 1,200 net barrels of oil equivalent per day.

"We are pleased to announce these strategic divestitures for Unit," commented Larry D. Pinkston, Unit's President and Chief Executive Officer.  “This is an important step that will create additional liquidity for future acquisitions and development in our core areas.  These transactions are part of non-core divestitures that Unit has been pursuing.”

Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and natural gas exploration, production, contract drilling and natural gas gathering and processing.  Unit’s Common Stock is listed on the New York Stock Exchange under the symbol UNT.  For more information about Unit Corporation, visit its website at http://www.unitcorp.com.

This news release contains forward-looking statements within the meaning of the private Securities Litigation Reform Act.  All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements.  A number of risks and uncertainties could cause actual results to differ materially from these statements, including the possibility that the ultimate quantity and value of the estimated oil and natural gas reserves associated with the divestiture actually differ from those contained in this release, the estimates used in the valuation of the divestiture, including prices used in calculating reserve values, may vary significantly from actual results, the current productive capabilities of the oil and natural gas wells included in the divestiture varies from that disclosed, and that the divestiture described in this release may not close.  In addition, forward looking statements also include the prospective capabilities of the reserves associated with the Company’s inventory of future drilling sites, anticipated oil and natural gas prices, the number of wells to be drilled by the Company’s oil and natural gas segment, development, operational, implementation and opportunity risks, possibility of future growth opportunities, and other factors described from time to time in the Company’s publicly available SEC reports.  The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.