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Unit signs pact for $24.1M purchase
Unit Corp. announced May 12 that a subsidiary signed an agreement to acquire oil and natural gas properties from a privately held company for $24.1 million.
“The acquisition will fit well with Unit’s core area of operations and will help us to further develop and exploit fields and supply a basis for future drilling.”
The Tulsa-based energy company gained about 14.5 billion cubic feet of gas equivalent reserves. The properties are located in Oklahoma and currently produce 2.5 million cubic feet of gas equivalent per day, the company said.
Closing on the transaction is expected to be completed by mid-June.
—The Associated Press
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