Unit Corporation
Unit Corporation is a Tulsa-based independent energy company that produces crude oil, natural gas, and NGLs in the U.S. Mid-Continent (Anadarko and Arkoma Basins) through its wholly-owned subsidiary Unit Petroleum Company, following the 2025 divestiture of its contract drilling business.
- Company typePublic
- Founded1963
- HeadquartersTulsa, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Unit Corporation does
Unit Corporation is a Tulsa, Oklahoma-based independent energy company engaged through its wholly-owned subsidiary Unit Petroleum Company in the exploration, production, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in the U.S. Mid-Continent region. The company produces from wells in the Anadarko and Arkoma Basins across western Oklahoma and the Texas Panhandle, with reported 2025 production of 3,925 MBOE (811 MBbls oil, 1,033 MBbls NGLs, and 12,484 MMcf natural gas). Founded in 1963, the company filed for Chapter 11 protection in May 2020 with more than $650 million in funded debt and emerged later that year with a restructured balance sheet, subsequently divesting its non-core contract drilling subsidiary to related party Cactus Drilling Company, L.L.C. in October 2025 for approximately $119.7 million. The company now operates as a pure-play upstream producer, with the April 2026 announcement of an $18.7 million divestiture of Woodford and Mississippian leasehold interests in Caddo and Blaine Counties, Oklahoma further narrowing the portfolio.
The company's core technology consists of conventional oilfield operations — drilling, completing, and producing wells via owned and operated infrastructure in established fields. Historically, the firm developed the proprietary BOSS (Building on Superior Service) super-spec drilling rig, a 1,500 HP, AC unit with high-torque top drives, automated walking catwalks, and racking capabilities up to 26,500 feet; this technology resided with the now-divested Unit Drilling Company and is no longer part of Unit Corporation's portfolio. Production from developed (PDP) reserves is characterized as modest-decline by management, with the company hedging approximately 46% of daily oil production and 56% of daily natural gas production through 2026 via NYMEX Henry Hub and WTI swaps to manage commodity-price exposure.
Unit Corporation generates revenue primarily through direct sales of produced hydrocarbons at prevailing commodity prices (FY2025 revenue $102.3 million, up from $93.2 million in 2024), with average 2025 realized prices of $64.25/Bbl oil and $3.04/Mcf gas. Distribution occurs via conventional oil and gas commodity channels, supplemented by owner relations services that distribute payments to royalty and working interest partners via check or ACH direct deposit (through Enverus/EnergyLink) and JIB production reporting (via PDS Energy). Capital return to shareholders is the explicit value-accretion mechanism: a regular quarterly dividend of $1.25 per share, a $2.00 per share special dividend paid in Q1 2025, and an active share repurchase program that has repurchased approximately 2.57 million shares at an average price of $32.16 ($82.8 million aggregate) since emerging from bankruptcy. Marketing is conducted via Business Wire press releases, an OTCQX (UNTC) investor relations program, and direct social media presence on LinkedIn, Facebook, and Instagram.
Unit Corporation firmographics
Firmographics- Name
- Unit Corporation
- Legal name
- Unit Corporation
- Website
- https://unitcorp.com
- Company type
- Public
- Founded year
- 1963
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Unit Corporation is a Tulsa-based independent energy company that produces crude oil, natural gas, and NGLs in the U.S. Mid-Continent (Anadarko and Arkoma Basins) through its wholly-owned subsidiary Unit Petroleum Company, following the 2025 divestiture of its contract drilling business.
- Ownership category
- akta.pro rank
Unit Corporation industry classification
Industry- Product category
- Upstream Oil and Gas Production
- NAICS
- Oil and Gas Extraction (211), Natural Gas Extraction (21113), Crude Petroleum Extraction (21112)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)
- akta.pro secondary industries
- Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA), Gas Processing & NGL Recovery (Dehydration, Sweetening, Cryogenic Recovery) (EUALAGAG)
Keywords
Where Unit Corporation is headquartered
LocationHeadquarters
- HQ city
- Tulsa
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Unit Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D
Revenue model
- Oil and Natural Gas Production: Unit Corporation generates revenue through its wholly owned subsidiary Unit Petroleum Company by producing and selling oil, natural gas, and NGLs. Production volumes in 2025: 811 MBbls oil, 1,033 MBbls NGLs, and 12,484 MMcf natural gas. The company operates wells in the Anadarko Basin, Granite Wash, and other Mid-Continent areas. Revenue is commodity-price exposed and hedged through commodity swaps.
- Dividend Payments: Unit Corporation distributes regular quarterly cash dividends funded by cash on the balance sheet. Quarterly dividend of $1.25 per share has been sustained. A special dividend of $2.00 per share was paid in Q1 2025. Dividend declarations are at the Board of Directors' discretion based on financial position, results of operations, cash flows, and capital requirements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Oil and natural gas commodity pricing subject to market rates and hedging |
| Usage-based | Pay-as-you-go | Contract drilling daywork dayrates (business divested October 2025) |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Unit Corporation product offering
Product offeringCore offering
Unit Corporation, through its wholly owned subsidiary Unit Petroleum Company, produces and sells crude oil, natural gas, and natural gas liquids (NGLs) from wells operated in the Mid-Continent region, primarily the Anadarko Basin, Arkoma Basin, and Granite Wash formations in Oklahoma and Texas. Following the October 2025 sale of Unit Drilling Company, the company's business is now focused exclusively on upstream oil and gas production, supplemented by owner relations services for royalty and working interest owners.
Differentiator
Problem solved
Functional benefit
Products and services
- Oil and Natural Gas Production (Unit Petroleum Company) Upstream production and sale of crude oil, natural gas, and natural gas liquids (NGLs) from wells operated by Unit Petroleum Company in Western Oklahoma (Anadarko Basin), the Arkoma Basin, and the Granite Wash in the Texas Panhandle. Production is sold into commodity markets at market prices and hedged through NYMEX swaps.
- Owner Relations Services Land administration services for landowners, mineral owners, royalty interest owners, and working interest owners, including division orders, interest transfers, address changes, estate and inheritance processing, and revenue payment distribution via check mailing or ACH direct deposit through Enverus (EnergyLink). Minimum payment threshold of $25 or annual pay.
Quantifiable outcome
- 2025 full year net income of $98.3 million, EPS $9.87 diluted per share
- +3 more outcomes
Companies that use Unit Corporation
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Unit Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature1 record
Unit Corporation partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered supporting and major.
- Enverus (EnergyLink)supportingUnit Petroleum Company partners with Enverus (operating under the EnergyLink brand) to provide ACH direct deposit enrollment for royalty and revenue payments to interest owners. Interest owners can register at app.energylink.com to receive automated payments. Enverus handles identity verification (KBA) for enrollment.
- PDS EnergysupportingPDS Energy is referenced as the provider of production reports for Unit Petroleum Company's JIB (Joint Interest Billing) and production reporting to interest owners.
- Cactus Drilling Company, L.L.C.majorCactus Drilling Company L.L.C. purchased Unit Drilling Company (UDC), Unit Corporation's wholly-owned contract drilling subsidiary, in an all-cash transaction for $120 million on October 1, 2025. The sale was approved by Unit's board upon unanimous recommendation of a strategic transactions committee of independent directors. Piper Sandler & Co. served as financial advisor. Cactus Drilling is a related party. This divestiture allows Unit to sharpen strategic focus on upstream operations.
Scale indicators10 records
Recent moves7 records
Expansion highlights2 records
Unit Corporation competitors and assessment
Company assessmentDirect peers
- Continental Resources: Large independent E&P with deep operational focus on the STACK and SCOOP plays within the Anadarko Basin - the same Mid-Continent region Unit Petroleum operates in. Closest comparable on basin and operating model.
- Cabot Oil & Gas: Independent E&P that merged with Cimarex to form a Mid-Continent-plus-Appalachia combined entity. Pure-play upstream operator with comparable return-of-capital and small-cap independent philosophy.
- SandRidge Energy: Oklahoma City-based independent E&P with historical concentration in the Mid-Continent region, including the Anadarko Basin. Similar sized pure-play upstream operator with comparable asset base and customer profile.
- Cimarex Energy: Independent E&P with significant Mid-Continent (Anadarko/Arkoma) exposure alongside Permian Delaware assets. Closely comparable pure-play E&P operating model and basin mix prior to its merger with Cabot Oil & Gas.
- Chaparral Energy: Oklahoma City-based independent E&P historically focused primarily on the Anadarko Basin and Mid-Continent assets, overlapping directly with Unit Petroleum Company's core operating areas. Closely comparable small-cap pure-play E&P peer.
Regional players
- Range Resources: Independent E&P focused on the Appalachian Basin (Marcellus/Utica). Same pure-play upstream model but operates in a different U.S. basin, providing a relevant comparable for return-of-capital and low-decline production strategies.
Broad incumbents
- EOG Resources: Largest independent U.S. E&P with operations across multiple basins including select Mid-Continent holdings. While far larger and more diversified, the core upstream pure-play model and operator-driven approach overlap with Unit's strategy.
- Devon Energy: Major independent E&P with significant legacy Anadarko Basin and Mid-Continent operations alongside Delaware Basin and Eagle Ford exposure. Larger, more diversified, but same upstream pure-play model and geographic overlap with Unit's core basin.
- Apache Corporation: Independent E&P with legacy Mid-Continent and Permian operations alongside international assets. Same upstream operating model; Unit's smaller scale reflects a focused version of Apache's earlier Mid-Continent strategy.
Others
- Cactus Drilling Company: Acquired Unit's former contract drilling subsidiary in October 2025 for $120M. Now operates the 14-rig BOSS fleet formerly under Unit Corporation. Adjacent rather than competing - now a customer/peer only at the operational level given related-party status.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Unit Corporation social profiles
Digital presenceUnit Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Unit Corporation leadership team
Management profileNumber of profiles
Profiles13 records
Unit Corporation subsidiaries and ownership
Company hierarchySubsidiaries2 records
Unit Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Unit Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Unit Corporation
What does Unit Corporation do?
Unit Corporation, through its wholly owned subsidiary Unit Petroleum Company, produces and sells crude oil, natural gas, and natural gas liquids (NGLs) from wells operated in the Mid-Continent region, primarily the Anadarko Basin, Arkoma Basin, and Granite Wash formations in Oklahoma and Texas. Following the October 2025 sale of Unit Drilling Company, the company's business is now focused exclusively on upstream oil and gas production, supplemented by owner relations services for royalty and working interest owners.
Is Unit Corporation a public or private company?
Unit Corporation is a public company. It is classified as public and is currently operating.
When was Unit Corporation founded?
Unit Corporation was founded in 1963. It employs 501 to 1,000 people.
Where is Unit Corporation based?
Unit Corporation is headquartered in Tulsa, United States, in the North America region.
How does Unit Corporation make money?
Two revenue lines are on record. Oil and Natural Gas Production is the primary driver. The others are dividend Payments.
Who are Unit Corporation's main competitors?
Direct peers on record are Continental Resources, Cabot Oil & Gas, SandRidge Energy, Cimarex Energy and Chaparral Energy. Range Resources is listed as a regional player. Broad incumbents are EOG Resources, Devon Energy and Apache Corporation. Cactus Drilling Company is listed as an others.
Does Unit Corporation have an API?
No public API is recorded for Unit Corporation.
What industry is Unit Corporation in?
Unit Corporation's product category is Upstream Oil and Gas Production. Its primary akta.pro industry code is EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance), with a secondary code of EUAAAAAA, Conventional Natural Gas Exploration & Production (Dry Gas). Its NAICS code is 211 and its SIC code is 1311.