Supplemental Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2021


	Predecessor
	Three Months Ended March 31, 2020
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	85,154	$	42,680	$	(5,458)	$	122,376
Expenses:
Operating costs	—		56,864		32,317		(5,458)		83,723
Depreciation, depletion, and amortization	871		48,473		12,273		—		61,617
Impairments	—		677,962		63,962		—		741,924
Loss on abandonment of assets	—		17,554		—		—		17,554
General and administrative	—		11,553		—		—		11,553
(Gain) loss on disposition of assets	—		396		(6)		—		390
Total operating costs	871		812,802		108,546		(5,458)		916,761
Loss from operations	(871)		(727,648)		(65,866)		—		(794,385)
Interest, net	(12,739)		—		(518)		—		(13,257)
Gain on derivatives	483		—		—		—		483
Other, net	7		35		18		—		60
Loss before income taxes	(13,120)		(727,613)		(66,366)		—		(807,099)
Income tax benefit	—		(3,425)		—		—		(3,425)
Equity in net earnings from investment in subsidiaries, net of taxes	(790,554)		—		—		790,554		—
Net loss	(803,674)		(724,188)		(66,366)		790,554		(803,674)
Less: net loss attributable to non-controlling interest	(33,180)		—		(33,180)		33,180		(33,180)
Net loss attributable to Unit Corporation	$	(770,494)	$	(724,188)	$	(33,186)	$	757,374	$	(770,494)


	Predecessor
	Three Months Ended March 31, 2020
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(66,578)	$	86,663	$	9,827	$	—	$	29,912
INVESTING ACTIVITIES:
Capital expenditures	(421)		(13,051)		(4,056)		—		(17,528)
Producing properties and other acquisitions	—		(210)		—		—		(210)
Proceeds from disposition of assets	—		1,700		51		—		1,751
Net cash used in investing activities	(421)		(11,561)		(4,005)		—		(15,987)
FINANCING ACTIVITIES:
Borrowings under credit agreement	39,300		—		32,100		—		71,400
Payments under credit agreement	(23,500)		—		(11,600)		—		(35,100)
Intercompany borrowings (advances), net	75,016		(75,089)		73		—		—
Net payments on finance leases	—		—		(1,026)		—		(1,026)
Employee taxes paid by withholding shares	(43)		—		—		—		(43)
Bank overdrafts	(7,269)		—		(1,464)		—		(8,733)
Net cash provided by (used in) financing activities	83,504		(75,089)		18,083		—		26,498
Net increase in cash and cash equivalents	16,505		13		23,905		—		40,423
Cash and cash equivalents, beginning of period	503		68		—		—		571
Cash and cash equivalents, end of period	$	17,008	$	81	$	23,905	$	—	$	40,994