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Supplemental Condensed Consolidated Financial Information
 9 Months Ended
Sep. 30, 2019
Supplemental Condensed Consolidated Financial Information [Abstract]  
Condensed Consolidated Financial Statements SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
We have no significant assets or operations other than our investments in our subsidiaries. Our wholly owned subsidiaries are the guarantors of our Notes. On April 3, 2018, we sold 50% of the ownership interest in our mid-stream segment, Superior and that company and its subsidiaries are no longer guarantors of the 2021 Notes. Instead of providing separate financial statements for each subsidiary issuer and guarantor, we have included the accompanying unaudited condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X.

For purposes of the following footnote:

•we are referred to as "Parent",
•the direct subsidiaries are 100% owned by the Parent and the guarantee is full and unconditional and joint and several and referred to as "Combined Guarantor Subsidiaries", and
•Superior and its subsidiaries and the Operator are referred to as "Non-Guarantor Subsidiaries."

The following unaudited supplemental condensed consolidating financial information reflects the Parent's separate accounts, the combined accounts of the Combined Guarantor Subsidiaries', the combined accounts of the Non-Guarantor Subsidiaries', the combined consolidating adjustments and eliminations, and the Parent's consolidated amounts for the periods indicated.
Condensed Consolidating Balance Sheets (Unaudited)
September 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$505  $104  $3  $—  $612  
Accounts receivable, net of allowance for doubtful accounts of $2,504 (Guarantor of $1,299 and Parent of $1,205) 1,863  62,662  20,900  (7,431) 77,994  
Materials and supplies—  524  —  —  524  
Current derivative asset5,959  —  —  —  5,959  
Income taxes receivable2,405  —  —  —  2,405  
Assets held for sale—  17,299  —  —  17,299  
Prepaid expenses and other2,879  3,673  5,920  —  12,472  
Total current assets13,611  84,262  26,823  (7,431) 117,265  
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties—  6,312,461  —  —  6,312,461  
Unproved properties not being amortized
—  282,356  —  —  282,356  
Drilling equipment—  1,290,222  —  —  1,290,222  
Gas gathering and processing equipment—  —  806,862  —  806,862  
Saltwater disposal systems—  69,499  —  —  69,499  
Corporate land and building—  59,080  —  —  59,080  
Transportation equipment9,713  17,002  3,373  —  30,088  
Other28,876  28,555  —  —  57,431  
38,589  8,059,175  810,235  —  8,907,999  
Less accumulated depreciation, depletion, amortization, and impairment
32,217  6,090,830  399,574  —  6,522,621  
Net property and equipment6,372  1,968,345  410,661  —  2,385,378  
Intercompany receivable1,093,689  —  —  (1,093,689) —  
Goodwill—  —  —  —  —  
Investments964,822  —  —  (964,822) —  
Non-current derivative asset128  —  —  —  128  
Right of use asset52  1,855  5,464  (56) 7,315  
Other assets8,558  9,958  11,307  —  29,823  
Total assets$2,087,232  $2,064,420  $454,255  $(2,065,998) $2,539,909  
September 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$9,223  $64,771  $13,851  $(7,431) $80,414  
Accrued liabilities39,000  27,350  7,392  (468) 73,274  
Current operating lease liability22  941  3,334  (6) 4,291  
Current portion of other long-term liabilities1,069  7,316  7,023  (6) 15,402  
Total current liabilities49,314  100,378  31,600  (7,911) 173,381  
Intercompany debt—  1,093,642  47  (1,093,689) —  
Long-term debt less debt issuance costs780,252  —  4,100  —  784,352  
Non-current derivative liability107  —  —  —  107  
Operating lease liability29  883  1,938  (50) 2,800  
Other long-term liabilities14,367  72,219  10,376  (602) 96,360  
Deferred income taxes54,416  37,260  —  —  91,676  
Shareholders’ equity:
Preferred stock, $1.00 par value, 5,000,000 shares authorized, none issued
—  —  —  —  —  
Common stock, $.20 par value, 175,000,000 shares authorized, 55,531,603 shares issued  10,590  —  —  —  10,590  
Capital in excess of par value644,042  45,921  197,042  (242,963) 644,042  
Contributions from Unit—  —  1,272  (1,272) —  
Accumulated other comprehensive loss—  —  —  —  —  
Retained earnings534,115  714,117  5,394  (719,511) 534,115  
Total shareholders’ equity attributable to Unit Corporation
1,188,747  760,038  203,708  (963,746) 1,188,747  
Non-controlling interests in consolidated subsidiaries—  —  202,486  —  202,486  
Total shareholders' equity1,188,747  760,038  406,194  (963,746) 1,391,233  
Total liabilities and shareholders’ equity$2,087,232  $2,064,420  $454,255  $(2,065,998) $2,539,909  
December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$403  $208  $5,841  $—  $6,452  
Accounts receivable, net of allowance for doubtful accounts of $2,531 (Guarantor of $1,326 and Parent of $1,205) 2,539  94,526  36,676  (14,344) 119,397  
Materials and supplies—  473  —  —  473  
Current derivative asset12,870  —  —  —  12,870  
Income tax receivable243  1,811  —  —  2,054  
Assets held for sale—  22,511  —  —  22,511  
Prepaid expenses and other1,993  3,560  1,049  —  6,602  
Total current assets18,048  123,089  43,566  (14,344) 170,359  
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties—  6,018,568  —  —  6,018,568  
Unproved properties not being amortized
—  330,216  —  —  330,216  
Drilling equipment—  1,284,419  —  —  1,284,419  
Gas gathering and processing equipment—  —  767,388  —  767,388  
Saltwater disposal systems—  68,339  —  —  68,339  
Corporate land and building—  59,081  —  —  59,081  
Transportation equipment9,273  17,165  3,086  —  29,524  
Other28,584  28,923  —  —  57,507  
37,857  7,806,711  770,474  —  8,615,042  
Less accumulated depreciation, depletion, amortization, and impairment
27,504  5,790,481  364,741  —  6,182,726  
Net property and equipment10,353  2,016,230  405,733  —  2,432,316  
Intercompany receivable950,916  —  —  (950,916) —  
Goodwill—  62,808  —  —  62,808  
Investments1,160,444  —  —  (1,160,444) —  
Other assets8,225  6,793  17,552  —  32,570  
Total assets$2,147,986  $2,208,920  $466,851  $(2,125,704) $2,698,053  
December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$8,697  $122,610  $32,214  $(13,576) $149,945  
Accrued liabilities28,230  16,409  5,493  (468) 49,664  
Current portion of other long-term liabilities812  6,563  6,875  —  14,250  
Total current liabilities37,739  145,582  44,582  (14,044) 213,859  
Intercompany debt—  948,707  2,209  (950,916) —  
Long-term debt less debt issuance costs644,475  —  —  —  644,475  
Non-current derivative liability293  —  —  —  293  
Other long-term liabilities13,134  73,713  14,687  (300) 101,234  
Deferred income taxes60,983  83,765  —  —  144,748  
Shareholders’ equity:
Preferred stock, $1.00 par value, 5,000,000 shares authorized, none issued—  —  —  —  —  
Common stock, $.20 par value, 175,000,000 shares authorized, 54,055,600 shares issued  10,414  —  —  —  10,414  
Capital in excess of par value628,108  45,921  197,042  (242,963) 628,108  
Contributions from Unit—  —  792  (792) —  
Accumulated other comprehensive loss—  (481) —  —  (481) 
Retained earnings752,840  911,713  4,976  (916,689) 752,840  
Total shareholders’ equity attributable to Unit Corporation
1,391,362  957,153  202,810  (1,160,444) 1,390,881  
Non-controlling interests in consolidated subsidiaries—  —  202,563  —  202,563  
Total shareholders' equity1,391,362  957,153  405,373  (1,160,444) 1,593,444  
Total liabilities and shareholders’ equity$2,147,986  $2,208,920  $466,851  $(2,125,704) $2,698,053  
Condensed Consolidating Statements of Operations (Unaudited)

Three Months Ended September 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$—  $116,671  $48,585  $(9,817) $155,439  
Expenses:
Operating costs—  66,534  36,023  (9,904) 92,653  
Depreciation, depletion, and amortization1,935  56,432  11,847  —  70,214  
Impairments—  232,615  2,265  —  234,880  
General and administrative—  10,094  —  —  10,094  
(Gain) loss on disposition of assets(1) 260  (28) —  231  
Total operating costs1,934  365,935  50,107  (9,904) 408,072  
Income (loss) from operations(1,934) (249,264) (1,522) 87  (252,633) 
Interest, net(9,086) —  (448) —  (9,534) 
Gain on derivatives4,237  —  —  —  4,237  
Other, net5  (627) —  —  (622) 
Loss before income taxes(6,778) (249,891) (1,970) 87  (258,552) 
Income tax benefit(1,982) (48,781) —  —  (50,763) 
Equity in net earnings from investment in subsidiaries, net of taxes
(202,090) —  —  202,090  —  
Net loss(206,886) (201,110) (1,970) 202,177  (207,789) 
Less: net loss attributable to non-controlling interest—  —  (903) —  (903) 
Net loss attributable to Unit Corporation$(206,886) $(201,110) $(1,067) $202,177  $(206,886) 
Three Months Ended September 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$—  $169,635  $82,882  $(32,459) $220,058  
Expenses:
Operating costs—  71,646  66,932  (31,273) 107,305  
Depreciation, depletion, and amortization1,923  50,349  11,265  —  63,537  
General and administrative—  9,252  26  —  9,278  
Gain on disposition of assets—  (237) (16) —  (253) 
Total operating costs1,923  131,010  78,207  (31,273) 179,867  
Income (loss) from operations(1,923) 38,625  4,675  (1,186) 40,191  
Interest, net(7,564) —  (381) —  (7,945) 
Loss on derivatives(4,385) —  —  —  (4,385) 
Other, net6  (1) 1  —  6  
Income (loss) before income taxes(13,866) 38,624  4,295  (1,186) 27,867  
Income tax expense (benefit)(3,688) 9,839  593  —  6,744  
Equity in net earnings from investment in subsidiaries, net of taxes
29,077  —  —  (29,077) —  
Net income18,899  28,785  3,702  (30,263) 21,123  
Less: net income attributable to non-controlling interest—  —  2,224  —  2,224  
Net income attributable to Unit Corporation$18,899  $28,785  $1,478  $(30,263) $18,899  
Nine Months Ended September 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Revenues$—  $389,553  $173,724  $(53,001) $510,276  
Expenses:
Operating costs—  211,836  133,702  (51,374) 294,164  
Depreciation, depletion, and amortization5,804  157,153  35,675  —  198,632  
Impairments—  232,615  2,265  —  234,880  
General and administrative—  29,899  —  —  29,899  
(Gain) loss on disposition of assets(11) 1,571  (136) —  1,424  
Total operating costs5,793  633,074  171,506  (51,374) 758,999  
Income (loss) from operations(5,793) (243,521) 2,218  (1,627) (248,723) 
Interest, net(25,938) —  (1,129) —  (27,067) 
Gain on derivatives5,232  —  —  —  5,232  
Other, net16  (627) —  —  (611) 
Income (loss) before income taxes(26,483) (244,148) 1,089  (1,627) (271,169) 
Income tax benefit(6,529) (46,552) —  —  (53,081) 
Equity in net earnings from investment in subsidiaries, net of taxes
(198,945) —  —  198,945  —  
Net income (loss)(218,899) (197,596) 1,089  197,318  (218,088) 
Less: net income attributable to non-controlling interest—  —  811  —  811  
Net income (loss) attributable to Unit Corporation$(218,899) $(197,596) $278  $197,318  $(218,899) 

Nine Months Ended September 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$—  $478,529  $232,938  $(82,974) $628,493  
Expenses:
Operating costs—  215,355  185,738  (80,540) 320,553  
Depreciation, depletion, and amortization5,759  139,724  33,493  —  178,976  
General and administrative—  26,136  2,616  —  28,752  
Gain on disposition of assets(30) (450) (95) —  (575) 
Total operating costs5,729  380,765  221,752  (80,540) 527,706  
Income (loss) from operations(5,729) 97,764  11,186  (2,434) 100,787  
Interest, net(24,844) —  (834) —  (25,678) 
Loss on derivatives(25,608) —  —  —  (25,608) 
Other, net17  —  —  —  17  
Income (loss) before income taxes(56,164) 97,764  10,352  (2,434) 49,518  
Income tax expense (benefit)(14,356) 25,299  1,437  —  12,380  
Equity in net earnings from investment in subsidiaries, net of taxes
74,360  —  —  (74,360) —  
Net income32,552  72,465  8,915  (76,794) 37,138  
Less: net income attributable to non-controlling interest—  —  4,586  —  4,586  
Net income attributable to Unit Corporation$32,552  $72,465  $4,329  $(76,794) $32,552  

              
Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited)
Three Months Ended September 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net loss$(206,886) $(201,110) $(1,970) $202,177  $(207,789) 
Other comprehensive loss, net of taxes:
Reclassification adjustment for write-down of securities, net of tax of ($45)—  487  —  —  487  
Comprehensive loss(206,886) (200,623) (1,970) 202,177  (207,302) 
Less: Comprehensive loss attributable to non-controlling interests—  —  (903) —  (903) 
Comprehensive loss attributable to Unit Corporation$(206,886) $(200,623) $(1,067) $202,177  $(206,399) 

Three Months Ended September 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income$18,899  $28,785  $3,702  $(30,263) $21,123  
Other comprehensive income, net of taxes:
Unrealized loss on securities, net of tax of ($13)—  (38) —  —  (38) 
Comprehensive income18,899  28,747  3,702  (30,263) 21,085  
Less: Comprehensive income attributable to non-controlling interests—  —  2,224  —  2,224  
Comprehensive income attributable to Unit Corporation$18,899  $28,747  $1,478  $(30,263) $18,861  

Nine Months Ended September 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income (loss)$(218,899) $(197,596) $1,089  $197,318  $(218,088) 
Other comprehensive income (loss), net of taxes:
Reclassification adjustment for write-down of securities, net of tax of ($47)—  481  —  —  481  
Comprehensive income (loss)(218,899) (197,115) 1,089  197,318  (217,607) 
Less: Comprehensive income attributable to non-controlling interests—  —  811  —  811  
Comprehensive income (loss) attributable to Unit Corporation$(218,899) $(197,115) $278  $197,318  $(218,418) 
Nine Months Ended September 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income$32,552  $72,465  $8,915  $(76,794) $37,138  
Other comprehensive income, net of taxes:
Unrealized loss on securities, net of tax of ($60)—  (179) —  —  (179) 
Comprehensive income32,552  72,286  8,915  (76,794) 36,959  
Less: Comprehensive income attributable to non-controlling interests—  —  4,586  —  4,586  
Comprehensive income attributable to Unit Corporation$32,552  $72,286  $4,329  $(76,794) $32,373  
Condensed Consolidating Statements of Cash Flows (Unaudited)
Nine Months Ended September 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$11,054  $169,838  $38,592  $(34) $219,450  
INVESTING ACTIVITIES:
Capital expenditures
168  (321,840) (43,282) —  (364,954) 
Producing properties and other acquisitions
—  (3,345) —  —  (3,345) 
Proceeds from disposition of assets
11  10,376  119  —  10,506  
Net cash provided by (used in) investing activities179  (314,809) (43,163) —  (357,793) 
FINANCING ACTIVITIES:
Borrowings under credit agreement
332,300  —  59,900  —  392,200  
Payments under credit agreement
(198,200) —  (55,800) —  (254,000) 
Intercompany borrowings (advances), net
(143,692) 144,867  (1,209) 34  —  
Payments on finance leases
—  —  (2,984) —  (2,984) 
Employee taxes paid by withholding shares(4,080) —  —  —  (4,080) 
Distributions to non-controlling interest919  —  (1,837) —  (918) 
Bank overdrafts
1,622  —  663  —  2,285  
Net cash provided by (used in) financing activities(11,131) 144,867  (1,267) 34  132,503  
Net increase (decrease) in cash and cash equivalents102  (104) (5,838) —  (5,840) 
Cash and cash equivalents, beginning of period
403  208  5,841  —  6,452  
Cash and cash equivalents, end of period
$505  $104  $3  $—  $612  

Nine Months Ended September 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$(98,489) $215,350  $(3,459) $128,080  $241,482  
INVESTING ACTIVITIES:
Capital expenditures
22  (275,434) (28,642) —  (304,054) 
Producing properties and other acquisitions
—  (769) —  —  (769) 
Proceeds from disposition of assets
30  25,199  87  —  25,316  
Net cash provided by (used in) investing activities52  (251,004) (28,555) —  (279,507) 
FINANCING ACTIVITIES:
Borrowings under credit agreement
69,200  —  2,000  —  71,200  
Payments under credit agreement
(247,200) —  (2,000) —  (249,200) 
Intercompany borrowings (advances), net
248,343  35,714  (155,977) (128,080) —  
Payments on finance leases
—  —  (2,869) —  (2,869) 
Employee taxes paid by withholding shares(4,947) —  —  —  (4,947) 
Proceeds from investments of non-controlling interest102,958  —  197,042  —  300,000  
Transaction costs associated with sale of non-controlling interest(2,303) —  —  —  (2,303) 
Bank overdrafts
14,143  —  2,857  —  17,000  
Net cash provided by (used in) financing activities180,194  35,714  41,053  (128,080) 128,881  
Net increase in cash and cash equivalents81,757  60  9,039  —  90,856  
Cash and cash equivalents, beginning of period
510  191  —  —  701  
Cash and cash equivalents, end of period
$82,267  $251  $9,039  $—  $91,557