UNIT Petroleum Company - Moving Forward
Unit Petroleum Company is a wholly owned subsidiary of Unit Corporation. Unit Petroleum was created in 1979 with an initial reserve base of 2 Bcfe. At December 31, 2011, Unit owned 116 MMBoe of reserves, primarily in the Anadarko and Arkoma Basins, and operated or owned an interest in more than 8,600 wells. Unit's reserves are 81% proved developed. The Company's strategy is to drill low-risk field extension or development wells on internally generated prospects. By focusing on oil and rich natural gas, this allows us to take advantage of the strengths of our existing assets. Our ability to develop prospects in our own backyard creates a promising investment opportunity.