Unit (UNTC) 10-Q 25 Jun 20 2020 Q1 Quarterly report Financial data

Document

Document - shares	3 Months Ended
	Mar. 31, 2020	Jun. 11, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-9260
Entity Registrant Name	UNIT CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1283193
Entity Address, Address Line One	8200 South Unit Drive,
Entity Address, City or Town	Tulsa,
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74132
City Area Code	(918)
Local Phone Number	493-7700
Title of 12(b) Security	Common Stock
Trading Symbol	UNTCQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,622,664
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000798949

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2020		Dec. 31, 2019
Current assets:
Cash and cash equivalents		$ 40,994		$ 571
Accounts receivable, net of allowance for doubtful accounts of $2,332 as of March 31, 2020 and December 31, 2019, respectively		54,379		82,656
Materials and supplies		414		449
Current derivative asset (Note 12)		661		633
Current income taxes receivable		2,673		1,756
Assets held for sale (Note 5)		0		5,908
Prepaid expenses and other		13,754		13,078
Total current assets		112,875		105,051
Oil and natural gas properties on the full cost method:
Proved properties		6,565,136		6,341,582
Unproved properties not being amortized		31,538		252,874
Drilling equipment		1,298,626		1,295,713
Gas gathering and processing equipment		829,600		824,699
Saltwater disposal systems		43,831		69,692
Land and building		59,080		59,080
Transportation equipment		27,515		29,723
Other		58,039		57,992
Property, plant, and equipment, gross		8,913,365		8,931,355
Less accumulated depreciation, depletion, amortization, and impairment		7,768,310		6,978,669
Net property and equipment		1,145,055		1,952,686
Right of use asset (Note 14)		6,937		5,673
Other assets		22,976		26,642
Total assets	[1]	1,287,843		2,090,052
Current liabilities:
Accounts payable		58,595		84,481
Accrued liabilities (Note 7)		41,830		46,562
Current operating lease liability (Note 14)		4,128		3,430
Current portion of long-term debt (Note 8)	[2]	771,283		108,200
Current portion of other long-term liabilities (Note 8)		18,317		17,376
Total current liabilities		894,153		260,049
Long-term debt less debt issuance costs (Note 8)		37,000	[2]	663,216	[1]
Non-current derivative liabilities (Note 12)		123		27
Operating lease liability (Note 14)		2,639		2,071
Other long-term liabilities (Note 8)		88,237		95,341
Deferred income taxes		11,205		13,713
Commitments and contingencies (Note 15)
Shareholders' equity:
Preferred stock, $1.00 par value, 5,000,000 shares authorized, none issued		0		0
Common stock, $0.20 par value, 175,000,000 shares authorized, 54,746,727 and 55,443,393 shares issued as of March 31, 2020 and December 31, 2019, respectively		10,694		10,591
Capital in excess of par value		646,543		644,152
Retained earnings		(571,359)		199,135
Total shareholders’ equity attributable to Unit Corporation		85,878		853,878
Non-controlling interests in consolidated subsidiaries		168,608		201,757
Total shareholders' equity		254,486		1,055,635
Total liabilities and shareholders' equity	[1]	$ 1,287,843		$ 2,090,052
[1]	Unit Corporation's consolidated total assets as of March 31, 2020 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $46.7 million and $360.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2020 include total current and long-term liabilities of the VIE of $25.8 million and $42.9 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. Unit Corporation's consolidated total assets as of December 31, 2019 include total current and long-term assets of the VIE of $28.8 million and $434.3 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2019 include total current and long-term liabilities of the VIE of $32.2 million and $26.0 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 16 – Variable Interest Entity Arrangements.
[2]	As of March 31, 2020, the current portion of long-term debt is net of debt issuance costs. As of December 31, 2019, the long-term debt is net of debt issuance costs. See Note 8 – Long-Term Debt and Other Long-Term Liabilities.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 2,332	$ 2,332
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.20	$ 0.20
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	54,746,727	55,443,393
VIE Current Assets Pledged	$ 46,700	$ 28,800
VIE Non-current Assets Pledged	360,700	434,300
VIE Current Liabilities, No Recourse	25,800	32,200
VIE Non-current Liabilities, No Recourse	$ 42,900	$ 26,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenues	$ 122,376	$ 189,691
Operating costs:
Operating costs	83,723	103,470
Depreciation, depletion, and amortization	61,617	62,126
Impairments (Note 3)	741,924	0
Loss on abandonment of assets (Note 3)	17,554	0
General and administrative	11,553	9,741
Loss on disposition of assets	390	1,615
Total operating expenses	916,761	176,952
Income (loss) from operations	(794,385)	12,739
Other income (expense):
Interest, net	(13,257)	(8,538)
Gain (loss) on derivatives	483	(6,932)
Other, net	60	5
Total other income (expense)	(12,714)	(15,465)
Loss before income taxes	(807,099)	(2,726)
Income tax benefit:
Current	(917)	0
Deferred	(2,508)	(444)
Total income taxes	(3,425)	(444)
Net loss	(803,674)	(2,282)
Net income (loss) attributable to non-controlling interest	(33,180)	1,222
Net loss attributable to Unit Corporation	$ (770,494)	$ (3,504)
Net loss attributable to Unit Corporation per common share (Note 6):
Basic	$ (14.50)	$ (0.07)
Diluted	$ (14.50)	$ (0.07)
Oil and natural gas
Revenues:
Revenues	$ 48,522	$ 86,095
Operating costs:
Operating costs	30,663	32,714
Contract drilling
Revenues:
Revenues	36,632	51,155
Operating costs:
Operating costs	25,449	31,401
Gas gathering and processing
Revenues:
Revenues	37,222	52,441
Operating costs:
Operating costs	$ 27,611	$ 39,355

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (803,674)	$ (2,282)
Other comprehensive income, net of taxes:
Unrealized gain on securities, net of tax of $0 and $7	0	24
Comprehensive loss	(803,674)	(2,258)
Less: Comprehensive income (loss) attributable to non-controlling interest	(33,180)	1,222
Comprehensive loss attributable to Unit Corporation	$ (770,494)	$ (3,480)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Unrealized income (loss) on securities, tax	$ 0	$ 7

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital In Excess of Par Value [Member]	Accumulated other comprehensive income (loss) [Member]	Retained earnings [Member]	Non-controlling interests in consolidated subsidiaries [Member]
Cumulative effect adjustment for adoption of ASUs	$ 174	$ 0	$ 0	$ 0	$ 174	$ 0
Stockholders' equity, beginning balance at Dec. 31, 2018	1,593,444	10,414	628,108	(481)	752,840	202,563
Net Income (loss)	(2,282)	0	0	0	(3,504)	1,222
Other comprehensive income (loss)	24	0	0	24	0	0
Total comprehensive loss	(2,258)
Distributions to non-controlling interest	(918)	0	0	0	0	(918)
Activity in employee compensation plans	5,417	164	5,253	0	0	0
Stockholders' equity, ending balance at Mar. 31, 2019	1,595,859	10,578	633,361	(457)	749,510	202,867
Stockholders' equity, beginning balance at Dec. 31, 2019	1,055,635	10,591	644,152	0	199,135	201,757
Net Income (loss)	(803,674)	0	0	0	(770,494)	(33,180)
Other comprehensive income (loss)	0
Total comprehensive loss	(803,674)
Activity in employee compensation plans	2,525	103	2,391	0	0	31
Stockholders' equity, ending balance at Mar. 31, 2020	$ 254,486	$ 10,694	$ 646,543	$ 0	$ (571,359)	$ 168,608

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Financial Position [Abstract]
Unrealized income (loss) on securities, tax	$ 0	$ 7

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES:
Net loss	$ (803,674)	$ (2,282)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, and amortization	61,617	62,126
Impairments (Note 3)	741,924	0
Loss on abandonment of assets (Note 3)	17,554	0
Amortization of debt issuance costs and debt discount (Note 8)	567	556
(Gain) loss on derivatives (Note 12)	(483)	6,932
Cash receipts on derivatives settled (Note 12)	551	2,656
Loss on disposition of assets	390	1,615
Deferred tax benefit	(2,508)	(444)
Employee stock compensation plans	2,568	5,134
ARO liability accretion (Note 9)	596	562
Contract assets and liabilities, net (Note 4)	808	(700)
Other, net	(740)	11
Changes in operating assets and liabilities increasing (decreasing) cash:
Accounts receivable	28,277	22,940
Material and supplies	35	(22)
Prepaid expenses and other	420	747
Accounts payable	(12,341)	(20,848)
Accrued liabilities	(4,840)	2,749
Income taxes	(917)	0
Contract advances	108	(544)
Net cash provided by operating activities	29,912	81,188
INVESTING ACTIVITIES:
Capital expenditures	(17,528)	(122,507)
Producing properties and other acquisitions	(210)	(1,580)
Proceeds from disposition of property and equipment	1,751	3,190
Net cash used in investing activities	(15,987)	(120,897)
FINANCING ACTIVITIES:
Borrowings under line of credit	71,400	109,800
Payments under line of credit	(35,100)	(69,800)
Net payments on finance leases	(1,026)	(985)
Employee taxes paid by withholding shares	(43)	(4,110)
Distributions to non-controlling interest	0	(918)
Bank overdrafts	(8,733)	3,161
Net cash provided by financing activities	26,498	37,148
Net increase (decrease) in cash and cash equivalents	40,423	(2,561)
Cash and cash equivalents, beginning of period	571	6,452
Cash and cash equivalents, end of period	40,994	3,891
Cash paid during the year for:
Interest paid (net of capitalized)	2,141	(3,307)
Income taxes	0	0
Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment	4,812	(641)
Non-cash (additions) reductions to oil and natural gas properties related to asset retirement obligations	3,404	(3,070)
Non-cash trade of property, plant, and equipment	$ 548	$ 0

Basis of Preparation and Presen

Basis of Preparation and Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation and Presentation	BASIS OF PREPARATION AND PRESENTATION The unaudited condensed consolidated financial statements in this report include the accounts of Unit Corporation and all its subsidiaries and affiliates and have been prepared under the rules and regulations of the SEC. The terms “company,” “Unit,” “we,” “our,” “us,” or like terms refer to Unit Corporation, a Delaware corporation, and one or more of its subsidiaries and affiliates, except as otherwise indicated or as the context otherwise requires. We consolidate the activities of Superior Pipeline Company, L.L.C. (Superior), a 50/50 joint venture between Unit Corporation and SP Investor Holdings, LLC, (SP Investor) which qualifies as a Variable Interest Entity (VIE) under generally accepted accounting principles in the United States (GAAP). We have concluded that we are the primary beneficiary of the VIE, as defined in the accounting standards, since we have the power, through 50% ownership, to direct those activities that most significantly affect the economic performance of Superior as further described in Note 16 – Variable Interest Entity Arrangements. The condensed consolidated financial statements are unaudited and do not include all the notes in our annual financial statements. This report should be read with the audited consolidated financial statements and notes in our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC March 16, 2020. In the opinion of our management, the unaudited condensed consolidated financial statements contain all normal recurring adjustments (including the elimination of all intercompany transactions) necessary to fairly state: • Balance Sheets as of March 31, 2020 and December 31, 2019; • Statements of Operations for the three months ended March 31, 2020 and 2019; • Statements of Comprehensive Income (Loss) for the three months ended March 31, 2020 and 2019; • Statements of Changes in Shareholders' Equity for the three months ended March 31, 2020 and 2019; and • Statements of Cash Flows for the three months ended March 31, 2020 and 2019. Our financial statements are prepared in conformity with GAAP, which requires us to make certain estimates and assumptions that may affect the amounts reported in our unaudited condensed consolidated financial statements and notes. Actual results may differ from those estimates. Results for the three months ended March 31, 2020 and 2019 are not necessarily indicative of the results we may realize for the full year of 2020, or that we realized for the full year of 2019. Certain amounts in this report for prior periods have been reclassified to conform to current year presentation. There was no impact to consolidated net loss or shareholders' equity.

Liquidity and Ability to Contin

Liquidity and Ability to Continue as a Going Concern	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern	CHAPTER 11 PROCEEDINGS, LIQUIDITY, AND ABILITY TO CONTINUE AS A GOING CONCERN Voluntary Reorganization Under Chapter 11 of the Bankruptcy Code On May 22, 2020 (Petition Date), Unit and its wholly owned subsidiaries Unit Drilling Company (UDC) Unit Petroleum Company (UPC), 8200 Unit Drive, L.L.C. (8200 Unit), Unit Drilling Colombia, L.L.C. (Unit Drilling Colombia) and Unit Drilling USA Colombia, L.L.C. (Unit Drilling USA, together with Unit, UPC, UDC, 8200 Unit and Unit Drilling Colombia, the Debtors) filed voluntary petitions (Bankruptcy Petitions) for reorganization under Chapter 11 of Title 11 of the United States Code (Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (Bankruptcy Court). The Chapter 11 proceedings are being jointly administered under the caption In re Unit Corporation, et al. , Case No. 20-32740 (DRJ) (Chapter 11 Cases). The Debtors are operating their business as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and under the provisions of the Bankruptcy Code and orders of the Bankruptcy Court. On May 22, 2020, the Debtors entered into a Restructuring Support Agreement (RSA) with (i)holders of 100% of the aggregate principal amount of loans outstanding under the Senior Credit Agreement, dated as of September 13, 2011 (as amended, the Unit credit agreement, together with the loan facility, the Unit credit facility), by and among the company, UPC and UDC, as borrowers, the institutions named as lenders (RBL Lenders) and BOKF, NA dba Bank of Oklahoma, as administrative agent (RBL Agent) and (ii)holders of over 70% of the aggregate outstanding principal amount of the company’s 6.625% senior subordinated notes due 2021 (Notes). In accordance with the RSA, the Debtors filed a Chapter 11 plan of reorganization (including all exhibits and schedules attached thereto, and as may be amended, supplemented, or modified from time to time, Plan) and the related disclosure statement with the Bankruptcy Court on June 9, 2020. Below is a summary of the treatment that the stakeholders of the Debtors would receive under the Plan: • Each lender under the Unit credit facility and the DIP credit facility described below will receive its pro rata share of revolving loans, term loans and letter-of-credit participations under the Exit Facility described below, in exchange for that lender’s allowed claims under the Unit credit facility or DIP credit facility; • Each holder of the Notes will receive its pro rata share of new common shares of reorganized Unit based on equity allocations at each of Unit, UDC and UPC in exchange for the holder’s allowed Notes claim; • Each holder of an allowed general unsecured claim against Unit or UPC will receive its pro rata share of new common shares of reorganized Unit based on equity allocations at each of Unit and UPC, respectively; • Each retained or former employee with a claim for vested severance benefits may opt-in to a settlement to receive a cash payment for that claim in lieu of an allocation of new common shares of reorganized Unit otherwise provided to holders of general unsecured claims; • Each holder of an allowed unsecured claim against UDC, 8200 Unit, Unit Drilling Colombia and Unit Drilling USA will receive payment in full of that claim in the ordinary course of business; and • Each holder of the company’s common stock that does not opt out of the releases under the Plan will receive its pro rata share of seven-year warrants to purchase an aggregate of 12.5% of the new common shares of reorganized Unit at an aggregate exercise price equal to the $650.0 million principal amount of the Notes plus interest thereon to the May 15, 2021 maturity date of the Notes. As contemplated by the RSA and subject to the Bankruptcy Court’s approval, upon the Debtors’ emergence from the Chapter 11 Cases and to the extent any claims under the DIP credit facility have not otherwise been repaid, each holder of an allowed claim under the DIP credit facility will receive its pro rata share of (i) revolving loans, term loans and letter-of-credit participations under the Exit Facility and (ii) an equity fee under the Exit Facility equal to 5% of the new common shares of reorganized Unit (subject to dilution by shares reserved for issuance under a management incentive plan and exercise of the warrants described above). As contemplated by the RSA, the company and the other Debtors entered into a Superpriority Senior Secured Debtor-in-Possession Credit Agreement dated May 27, 2020 (DIP credit agreement), by and among the Debtors, the RBL Lenders (in such capacity, the DIP Lenders) and BOKF, NA dba Bank of Oklahoma, as administrative agent, under which the DIP Lenders agreed to provide the company with a $36.0 million multi-draw loan facility ( DIP credit facility). On May 26, 2020, the Bankruptcy Court granted interim approval of the DIP credit facility, including the DIP credit agreement, permitting the Debtors to borrow up to $18.0 million on an interim basis. On June 19, 2020, the Bankruptcy Court granted final approval of the DIP credit facility. Subject to certain exceptions, under the Bankruptcy Code, filing the Bankruptcy Petitions automatically enjoined, or stayed, the continuation of most judicial or administrative proceedings or filing of other actions against the Debtors or their property to recover, collect or secure a claim arising before the Petition Date. Accordingly, although filing the Bankruptcy Petitions triggered defaults on the Debtors’ debt obligations, creditors are stayed from taking any actions against the Debtors because of such defaults, subject to certain limited exceptions permitted by the Bankruptcy Code. Absent an order of the Bankruptcy Court, substantially all of the Debtors’ pre-petition liabilities are subject to settlement under the Bankruptcy Code (except for payments to UDC’s vendors and suppliers, which are not expected to be affected by the Chapter 11 Cases). Superior and its subsidiaries are not parties to the RSA and are not Debtors in the Chapter 11 Cases. Subject to certain exceptions, under the Bankruptcy Code, the Debtors may assume, assign or reject certain executory contracts and unexpired leases subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the rejection of an executory contract or unexpired lease is treated as a pre-petition breach of such executory contract or unexpired lease and, subject to certain exceptions, relieves the Debtors of performing their future obligations under such executory contract or unexpired lease but entitles the contract counterparty or lessor to a pre-petition general unsecured claim for damages caused by such deemed breach. Counterparties to such rejected contracts or leases may assert unsecured claims in the Bankruptcy Court against the applicable Debtors’ estate for such damages. Generally, the assumption of an executory contract or unexpired lease requires the Debtors to cure existing monetary defaults under such executory contract or unexpired lease and adequately assure future performance. Any description of an executory contract or unexpired lease with the Debtors in this report, including where applicable a quantification of a Debtor’s obligations under any such executory contract or unexpired lease with the Debtor is qualified by any rejection rights the Debtor has under the Bankruptcy Code. Further, nothing herein is or shall be deemed an admission regarding any claim amounts or calculations arising from the rejection of any executory contract or unexpired lease and the Debtors expressly preserve all of their rights with respect thereto. The Debtors have not yet made any formal determinations regarding the assumption or rejection of any executory contracts or unexpired leases. Events of Default The Debtors’ filing of the Bankruptcy Petitions constituted an event of default that accelerated the Debtors' obligations under the Unit credit agreement and the indenture governing the Notes. Additionally, other events of default, including cross-defaults, exist under these debt agreements. As a result, the Unit credit facility and Notes have been classified as current as of March 31, 2020. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Debtors because of an event of default. Superior and its subsidiaries are not parties to the Chapter 11 Cases, and the Chapter 11 Cases did not result in an event of default under the Superior credit agreement (as defined below). In addition, the company’s filing of the Bankruptcy Petitions constituted a termination event regarding the company’s hedge agreements, which permits the counterparties to such hedge agreements to terminate the outstanding hedges, which termination events are not stayed under the Chapter 11 Cases. On the Petition Date, the Debtors entered into a Continuation Agreement (Continuation Agreement) with Superior, SPC Midstream Operating, L.L.C. and SP Investor to continue the parties' contractual relationships during the course of the Chapter 11 Cases under the governance, operational and related agreements entered into by those parties in connection with the formation of Superior (the company’s midstream joint venture with SP Investor), notwithstanding certain provisions triggered by the filing of the Chapter 11 Cases. Liquidity, Unit Credit Facility and Debtor-in-Possession Credit Agreement The company has incurred significant losses and was in a negative working capital position as of March 31, 2020. The company’s cash balance as of March 31, 2020 was $41.0 million, [including $23.9 million of which related to Superior], and effective January 17, 2020, the company's borrowing base under the Unit credit facility was $200.0 million, of which $124.0 million had been drawn as of March 31, 2020. The Unit credit facility has a scheduled maturity date of October 18, 2023 that, absent the filing of the Chapter 11 Cases, would accelerate to November 16, 2020 if, by that date, all the Notes are not repurchased, redeemed, or refinanced with indebtedness having a maturity date at least six months following October 18, 2023 (Credit Agreement Extension Condition). In addition, filing the Chapter 11 Cases resulted in events of default under the Unit credit agreement and accelerated the Debtors' obligations under the Unit credit agreement. As a result of these circumstances, the company's debt associated with the Unit credit agreement is reflected as a current liability in its consolidated balance sheet as of March 31, 2020 and December 31, 2019. In addition, on May 22, 2020, the RBL Lenders' remaining commitments under the Unit credit facility were terminated. To facilitate the negotiation of proposals regarding the company's capital structure and the Chapter 11 restructuring, the company, UPC, UDC, BOKF, NA dba Bank of Oklahoma, and the RBL Lenders entered into a Standstill and Amendment Agreement on March 11, 2020 regarding the Unit credit facility, which delayed the scheduled borrowing base redetermination for the facility until the expiration of a standstill period and under which the RBL Lenders agreed not to exercise certain of their rights and remedies under the Unit credit facility. The standstill period was set to expire on April 15, 2020 and was ultimately extended to May 22, 2020. On May 22, 2020, the parties to the Standstill and Amendment Agreement agreed that the company would draw an additional $8.0 million under the Unit credit facility and that, immediately following that borrowing, the remaining commitments of the RBL Lenders under the Unit credit facility were terminated. In order to provide liquidity to fund its operations and the Chapter 11 Cases, the company and the other Debtors entered into the DIP credit agreement. Borrowings under the DIP credit facility mature on the earliest of (i) September 22, 2020 (subject to a two-month extension to be approved by the DIP Lenders), (ii) the sale of all or substantially all of the assets of the Debtors under Section 363 of the Bankruptcy Code or otherwise, (iii) the effective date of a plan of reorganization or liquidation in the Chapter 11 Cases, (iv) the entry of an order by the Bankruptcy Court dismissing any of the Chapter 11 Cases or converting such Chapter 11 Cases to a case under Chapter 7 of the Bankruptcy Code, and (v) the date of termination of the DIP Lenders’ commitments and the acceleration of any outstanding extensions of credit, in each case, under the DIP credit agreement and subject to the Bankruptcy Court’s orders. The DIP credit agreement contains events of default customary for debtor-in-possession financings, including events related to the Chapter 11 proceedings, the occurrence of which could cause the acceleration of the Debtors’ obligation to repay borrowings outstanding under the DIP credit facility. The Debtors’ obligations under the DIP credit agreement are secured by a security interest in, and lien on, substantially all present and after-acquired property (whether tangible, intangible, real, personal or mixed) of the Debtors, including a superpriority priming lien on the property of the company and certain of its subsidiaries that secure their obligations under the existing Unit credit facility. On the Debtors’ emergence from the Chapter 11 Cases and to the extent any claims under the DIP credit facility have not otherwise been repaid, each holder of an allowed claim under the DIP credit facility will receive its pro rata share of (i) revolving loans, term loans and letter-of-credit participations under a new credit facility with reorganized Unit (Exit Facility) and (ii) an equity fee under the Exit Facility equal to 5% of the new common shares of reorganized Unit (subject to dilution by shares reserved for issuance under a management incentive plan and upon exercise of the warrants described above). The Exit Facility will be provided by the lenders under the Unit credit facility and the DIP credit facility to reorganized Unit in an aggregate principal amount of at least $180.0 million, consisting of (i) a $140.0 million reserve-based lending revolving loan and (ii) a $40.0 million term loan, each consistent with and subject to the RSA. Going Concern Besides entering into the RSA and the DIP credit agreement, the company is undertaking several actions to alleviate the conditions that cause substantial doubt about our ability to continue as a going concern, including (i) minimizing capital expenditures, (ii) aggressively managing working capital, (iii) further reducing recurring operating expenses, and (iv) exploring potential business transactions. We currently expect that the company’s cash flows, cash on hand and any financing it can obtain through the DIP credit facility should provide sufficient liquidity for the company during the Chapter 11 Cases. However, the significant risks and uncertainties related to the company’s liquidity and Chapter 11 Cases raise substantial doubt about the company’s ability to continue as a going concern. The outcome of the Chapter 11 Cases is subject to significant uncertainty and depends upon factors outside of the company’s control, including actions of the Bankruptcy Court and the company’s creditors. There can be no assurance that the company will confirm and consummate the plan as contemplated by the RSA or complete an alternative plan of reorganization. The company has therefore concluded there continues to be substantial doubt about the company’s ability to continue as a going concern. The condensed consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities and commitments in the normal course of business. The condensed consolidated financial statements include no adjustments that might result from the outcome of the going concern uncertainty. If the company cannot continue as a going concern, adjustments to the carrying values and classification of its assets and liabilities and the reported amounts of income and expenses could be required and could be material.

Impairments

Impairments	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Impairments	IMPAIRMENTS We review and evaluate our long-lived assets, including intangible assets, for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable, and changes to our estimates could affect our assessment of asset recoverability. During the first quarter of 2020, global commodity prices declined due to factors that significantly impacted both demand and supply. As the COVID-19 pandemic spread, causing travel and other restrictions to be implemented globally, the demand for crude oil declined. Additionally, the supply shock late in the first quarter from certain major oil producing nations increasing production further contributed to the sharp drop in crude oil prices. The sharp drop in crude oil prices has resulted in prompt reactions from a number of domestic producers, including significantly reducing capital budgets and resultant drilling activity and shutting-in production. The above circumstances are a triggering event that requires long-lived assets to be evaluated for impairment. At March 31, 2020, we determined that indicators of impairment existed for certain asset groups within our operating segments. For each asset group for which undiscounted future net cash flows could not recover the net book value, fair value was determined through use of discounted estimated cash flows to measure the impairment loss. The estimated cash flows used to assess recoverability of our long-lived assets and measure fair value of our asset groups are derived from current business plans, which are developed using near-term price and volume projections reflective of the current environment and estimated drilling rig utilization. Other key assumptions include volume projections, operating costs, timing of incurring such costs and using an appropriate discount rate. These key assumptions could change in the future that could result in additional impairment expense recorded on these asset groups. We believe our estimates and models used to determine fair value are similar to what a market participant would use and are appropriate in the circumstances. However, given the rate of change impacting the energy industry, it is reasonably possible that our estimates and models used in our impairment testing may change in the near term resulting in potentially material impairment expense in the future interim periods. The fair value measurement of our long-lived assets was based, in part, on significant inputs not observable in the market (as discussed above) and thus represents a Level 3 measurement. The significant unobservable inputs used include forecasted revenues, gross margins, discount rates, and terminal value exit multiples. The weighted average discount rate and exit multiples reflect management’s best estimate of inputs a market participant would utilize. Oil and Natural Gas Properties Full cost accounting rules require us to review the carrying value of our oil and natural gas properties at the end of each quarter. Under those rules, the maximum amount allowed as the carrying value is called the ceiling. The ceiling is the sum of the present value (using a 10% discount rate) of the estimated future net revenues from our proved reserves (using the unescalated 12-month average price of our oil, NGLs, and natural gas), plus the cost of properties not being amortized, plus the lower of cost or estimated fair value of unproved properties in the costs being amortized, less related income taxes. If the net book value of the oil, NGLs, and natural gas properties being amortized exceeds the full cost ceiling, the excess amount is charged to expense in the period during which the excess occurs, even if prices are depressed for only a short while. Once incurred, a write-down of oil and natural gas properties is not reversible. We determined that, due to the increased uncertainty that our undeveloped acreage would be fully developed, certain unproved oil and gas properties carrying values were not recoverable, resulting in impairment of $226.5 million in the first quarter of 2020, which had a corresponding increase to our depletion base and contributed to our full cost ceiling impairment recorded during the first quarter of 2020. We recorded a non-cash full cost ceiling test write-down of $267.8 million pre-tax in the first quarter of 2020 due to the reduction for the 12-month average commodity prices and the impairment of our unproved oil and gas properties described above. We had no non-cash ceiling test write-downs in the first quarter of 2019. In addition to the impairment evaluations of our proved and unproved oil and gas properties, we also evaluated the carrying value of our salt water disposal assets. As a result of our revised forecast of asset utilization, we determined certain assets were no longer expected to be utilized and wrote off certain salt water disposal assets that we consider abandoned. We recorded expense of $17.6 million related to the write down of our salt water disposal asset in first quarter of 2020. Contract Drilling At March 31, 2020, due to market conditions, we performed impairment testing on two asset groups which were comprised of the SCR diesel-electric drilling rigs and the BOSS drilling rigs. We concluded that the net book value of the SCR drilling rigs asset group was not recoverable through estimated undiscounted cash flows and recorded a non-cash impairment charge of $407.1 million in the first quarter of 2020. We also recorded an additional non-cash impairment charges of $3.0 million for other drilling equipment. These charges are included within impairment charges in our Unaudited Condensed Consolidated Statements of Operations. We concluded that no impairment was needed on the BOSS drilling rigs asset group as the undiscounted cash flows exceeded the carrying value of the asset group. The carrying value of the asset group was approximately $242.5 million at March 31, 2020. The estimated undiscounted cash flows of the BOSS drilling rigs asset group exceeded the carrying value by a relatively minor margin, which means very minor changes in certain key assumptions in future periods may result in material impairment charges in future periods. Some of the more sensitive assumptions used in evaluating the contract drilling rigs asset groups for potential impairment include forecasted utilization, gross margins, salvage values, discount rates, and terminal values. Mid-stream

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE FROM CONTRACTS WITH CUSTOMERSOur revenue streams are reported under three segments: oil and natural gas, contract drilling, and mid-stream. This is how we disaggregate our revenue and how we report our segment revenue (as reflected in Note 17 – Industry Segment Information). Revenue from the oil and natural gas segment is from sales of our oil and natural gas production. Revenue from the contract drilling segment comes from contracting with upstream companies to drill an agreed-on number of wells or provide drilling rigs and services over an agreed-on period. Revenue from the mid-stream segment is derived from gathering, transporting, and processing natural gas and NGLs and selling those commodities. We sell the hydrocarbons (from our oil and natural gas and mid-stream segments) to other mid-stream and downstream oil and gas companies. Oil and Natural Gas Revenues Certain costs—as either a deduction from revenue or as an expense—are determined based on when control of the commodity is transferred to our customer, which would affect our total revenue recognized, but will not affect gross profit. For example, gathering, processing, and transportation costs included as part of the contract price with the customer on transfer of control of the commodity are included in the transaction price, while costs incurred while we are in control of the commodity represent operating costs. Contract Drilling Revenues We have evaluated the mobilization and de-mobilization charges due under our outstanding drilling contracts. The impact of those charges to the financial statements was immaterial. As of March 31, 2020, we had six contract drilling contracts with terms ranging from two months to almost two years. Most of our drilling contracts have an original term of less than one year. The remaining performance obligations under the contracts with a longer duration are not material. Mid-stream Contracts Revenues Revenues are generated from fees earned for gas gathering and processing services provided to a customer. The typical revenue contracts used by this segment are gas gathering and processing agreements. These tables show the changes in our mid-stream contract asset and contract liability balances during the three months ended March 31, 2020: March 31, December 31, Change (In thousands) Contract assets $ 11,395 $ 12,921 $ (1,526) Contract liabilities 6,343 7,061 (718) Contract assets (liabilities), net $ 5,052 $ 5,860 $ (808) Included below is the fixed revenue we will earn over the remaining term of the contracts and excludes all variable consideration to be earned with the associated contract. Contract Remaining Term of Contract April - December 2021 2022 2023 and beyond Total Remaining Impact to Revenue (In thousands) Demand fee contracts 3-9 years $ (2,967) $ (3,501) $ 1,380 $ 36 $ (5,052)

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment Impairment or Disposal [Abstract]
Divestitures	DIVESTITURES Oil and Natural Gas We sold $0.6 million of non-core oil and natural gas assets, net of related expenses, during the first three months of 2020 and 2019. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized. Contract Drilling In December 2019, we determined that $10.8 million of the assets held for sale would not be sold in the next twelve months and were moved back to long-lived assets. Seven drilling rigs and equipment were to be marketed for sale throughout the next twelve months and remained classified as assets held for sale. The fair value of those assets was $5.9 million. During the first quarter of 2020, due to market conditions, it was determined these assets would not be sold in the next twelve months and were moved back to long-lived assets. We no longer have assets that meet the criteria to be classified as held for sale.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Loss Per Share	LOSS PER SHARE Information related to the calculation of loss per share attributable to Unit Corporation is as follows: Loss Weighted Per-Share (In thousands except per share amounts) For the three months ended March 31, 2020 Basic loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50) Effect of dilutive stock options and restricted stock — — — Diluted loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50) For the three months ended March 31, 2019 Basic loss attributable to Unit Corporation per common share $ (3,504) 52,557 $ (0.07) Effect of dilutive stock options and restricted stock — — — Diluted loss attributable to Unit Corporation per common share $ (3,504) 52,557 $ (0.07) The following table shows the number of stock options (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock: Three Months Ended March 31, 2020 2019 Stock options 42,000 56,000 Average exercise price $ 48.56 $ 44.73

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of: March 31, December 31, (In thousands) Interest payable $ 17,171 $ 6,562 Employee costs 8,093 17,832 Lease operating expenses 8,127 9,200 Taxes 3,141 3,450 Third-party credits 2,292 3,691 Other 3,006 5,827 Total accrued liabilities $ 41,830 $ 46,562

Long-Term Debt And Other Long-T

Long-Term Debt And Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt And Other Long-Term Liabilities	LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES Long-Term Debt As of the date indicated, our long-term debt consisted of the following: March 31, December 31, (In thousands) Current portion of long-term debt: Unit credit agreement with an average interest rate of 2.9% and 4.0% at March 31, 2020 and December 31, 2019, respectively $ 124,000 $ 108,200 6.625% senior subordinated notes due 2021 650,000 — Total principal amount 774,000 108,200 Less: unamortized discount (801) — Less: debt issuance costs, net (1,916) — Total current portion of long-term debt 771,283 108,200 Long-term debt: Superior credit agreement with an average interest rate of 2.7% and 3.9% at March 31, 2020 and December 31, 2019, respectively 37,000 16,500 6.625% senior subordinated notes due 2021 — 650,000 Total principal amount 37,000 666,500 Less: unamortized discount — (971) Less: debt issuance costs, net — (2,313) Total long-term debt $ 37,000 $ 663,216 Unit Credit Agreement. Before the filing of the Chapter 11 Cases, the Unit credit facility had a scheduled maturity date of October 18, 2023 that would accelerate to November 16, 2020 if, by that date, all the Notes are not repurchased, redeemed, or refinanced with indebtedness having a maturity date at least six months following October 18, 2023 (Credit Agreement Extension Condition). The Debtors' filing of the Bankruptcy Petitions constituted an event of default that accelerated the Debtors' obligations under the Unit credit agreement and the indenture governing the Notes. Due to the Credit Agreement Extension Condition and the acceleration of debt obligations resulting from filing the Chapter 11 Cases, the company's debt associated with the Unit credit agreement is reflected as a current liability in its consolidated balance sheet as of March 31, 2020 and December 31, 2019. The classification as a current liability due to the Credit Agreement Extension Condition is based on the uncertainty regarding the company's ability to repay or refinance the Notes before November 16, 2020. In addition, on May 22, 2020, the RBL Lenders' remaining commitments under the Unit credit facility were terminated. As of March 31, 2020, our elected commitment amount and borrowing base were both $200.0 million. We were charged a commitment fee of 0.375% on the amount available but not borrowed. That fee varied based on the amount borrowed as a percentage of the total borrowing base. Total amendment fees of $3.3 million in origination, agency, syndication, and other related fees are being amortized over the life of the Unit credit agreement. Under the Unit credit agreement, we pledged as collateral 80%of the proved developed producing (discounted as present worth at 8%) total value of our oil and gas properties. Under the mortgages covering such oil and gas properties, UPC also pledged as collateral certain items of its personal property. On May 2, 2018, we entered into a Pledge Agreement with BOKF, NA (dba Bank of Oklahoma), as administrative agent to benefit the secured parties, under which we granted a security interest in the limited liability membership interests and other equity interests we own in Superior (which as of this report is 50% of the aggregate outstanding equity interests of Superior) as additional collateral for our obligations under the Unit credit agreement. At our election, any part of the outstanding debt under the Unit credit agreement can be fixed at a London Interbank Offered Rate (LIBOR). LIBOR interest is computed as the LIBOR base for the term plus 1.50% to 2.50% depending on the level of debt as a percentage of the borrowing base and is payable at the end of each term, or every 90 days, whichever is less. Borrowings not under LIBOR bear interest at the prime rate specified in the Unit credit agreement but in no event less than LIBOR plus 1.00% plus a margin. The Unit credit agreement provides that if ICE Benchmark Administration no longer reports the LIBOR or Administrative Agent determines in good faith that the rate so reported no longer accurately reflects the rate available to Lender in the London Interbank Market or if such index no longer exists or accurately reflects the rate available to Administrative Agent in the London Interbank Market, Administrative Agent may select a replacement index. Interest is payable at the end of each month or at the end of each LIBOR contract and the principal may be repaid in whole or in part at any time, without a premium or penalty. Filing the Bankruptcy Petitions on May 22, 2020 constituted an event of default that accelerated the company’s obligations under the Unit credit agreement, and the lenders’ rights of enforcement regarding the Unit credit agreement were automatically stayed because of the Chapter 11 Cases. To facilitate negotiations of proposals regarding credit matters and the Chapter 11 restructuring, the company, UPC, UDC, BOKF, NA dba Bank of Oklahoma, and the RBL Lenders entered into a Standstill and Amendment Agreement on March 11, 2020 regarding the Unit credit facility, which delayed the scheduled borrowing base redetermination for the facility until the expiration of a standstill period and under which the RBL Lenders agreed not to exercise certain of their rights and remedies under the Unit credit facility. The standstill period was set to expire on April 15, 2020 and was subsequently extended from time to time until May 22, 2020. On May 22, 2020, the parties entered into a Fifth Amendment to Standstill and Amendment Agreement under which they agreed to the terms of an $8.0 million borrowing by the company under the Unit credit agreement and that, immediately following that borrowing, the remaining commitments of the RBL Lenders under the Unit credit facility were terminated. Subject to approval of the Plan, each lender under the Unit credit facility and the DIP credit facility will receive its pro rata share of revolving loans, term loans and letter-of-credit participations under the Exit Facility, in exchange for that lender’s allowed claims under the Unit credit facility or the DIP credit facility. Superior Credit Agreement. On May 10, 2018, Superior signed a five Superior is charged a commitment fee of 0.375% on the amount available but not borrowed which varies based on the amount borrowed as a percentage of the total borrowing base. Superior paid $1.7 million in origination, agency, syndication, and other related fees. These fees are being amortized over the life of the Superior credit agreement. The Superior credit agreement requires that Superior maintain a Consolidated EBITDA to interest expense ratio for the most-recently ended rolling four quarters of at least 2.50 to 1.00, and a funded debt to Consolidated EBITDA ratio of not greater than 4.00 to 1.00. The agreement also contains several customary covenants that restrict (subject to certain exceptions) Superior’s ability to incur additional indebtedness, create additional liens on its assets, make investments, pay distributions, sign sale and leaseback transactions, engage in certain transactions with affiliates, engage in mergers or consolidations, sign hedging arrangements, and acquire or dispose of assets. As of March 31, 2020, Superior complied with these covenants. The borrowings under the Superior credit agreement will fund capital expenditures and acquisitions, provide general working capital, and for letters of credit for Superior. Superior's credit agreement is not guaranteed by Unit. Superior and its subsidiaries are not parties to the RSA and are not Debtors in the Chapter 11 Cases. 6.625% Senior Subordinated Notes. As of March 31, 2020, we had an aggregate principal amount of $650.0 million in 6.625% senior subordinated notes (Notes) outstanding. Interest on the Notes was payable semi-annually (in arrears) on May 15 and November 15 of each year. The Notes were scheduled to mature on May 15, 2021. In issuing the Notes, we incurred fees of $14.7 million that are being amortized as debt issuance cost until maturity. The Notes are subject to an Indenture dated as of May 18, 2011, between us and Wilmington Trust, National Association (successor to Wilmington Trust FSB), as Trustee (Trustee), as supplemented by the First Supplemental Indenture dated as of May 18, 2011, between us, the Guarantors, and the Trustee, and as further supplemented by the Second Supplemental Indenture dated as of January 7, 2013, between us, the Guarantors, and the Trustee (as supplemented, the 2011 Indenture), establishing the terms of and providing for issuing the Notes. The Guarantors are most of our direct and indirect subsidiaries. The discussion of the Notes in this report is qualified by and subject to the actual terms of the 2011 Indenture. Unit, as the parent company, has no significant independent assets or operations. The guarantees by the Guarantors of the Notes (registered under registration statements) are full and unconditional, joint and several, subject to certain automatic customary releases, are subject to certain restrictions on the sale, disposition, or transfer of the capital stock or substantially all of the assets of a subsidiary guarantor, and other conditions and terms set out in the 2011 Indenture. Effective April 3, 2018, Superior is no longer a Guarantor of the Notes. Excluding Superior, any of our other subsidiaries that are not Guarantors are minor. There are no significant restrictions on our ability to receive funds from any subsidiary through dividends, loans, advances, or otherwise. The company elected not to make the approximate $21.5 million semi-annual interest payment due on the Notes on May 15, 2020. The company was entitled to a 30-day grace period after the interest payment date before an event of default would occur because of such non-payment. Filing of the Bankruptcy Petitions on May 22, 2020 constituted an event of default that accelerated the company’s obligations under the Notes. However, under the Bankruptcy Code, holders of the Notes are stayed from taking any action against the company or the other Debtors because of the default. Subject to confirmation of the Plan, each holder of the Notes will receive its pro rata share of new common shares of reorganized Unit based on equity allocations at each of Unit, UDC and UPC in exchange for the holder’s allowed Notes claim. DIP Credit Agreement . As contemplated by the RSA, the company and the other Debtors entered into the DIP credit agreement under which the DIP Lenders agreed to provide the company with the $36.0 million multiple-draw loan facility, or the DIP credit facility. The Bankruptcy Court entered an interim order on May 26, 2020 approving the DIP credit facility, permitting the Debtors to borrow up to $18.0 million on an interim basis. On June 19, 2020, the Bankruptcy court entered a final order approving the DIP credit facility. For further information about the DIP credit agreement, please see Note 2 – Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern. Other Long-Term Liabilities Other long-term liabilities consisted of the following: March 31, December 31, (In thousands) Asset retirement obligation (ARO) liability $ 63,819 $ 66,627 Workers’ compensation 11,178 11,510 Finance lease obligations 6,354 7,379 Contract liability 6,343 7,061 Separation benefit plans 9,719 10,122 Deferred compensation plan 5,303 6,180 Gas balancing liability 3,838 3,838 106,554 112,717 Less current portion 18,317 17,376 Total other long-term liabilities $ 88,237 $ 95,341 Estimated annual principal payments under the terms of our long-term debt and other long-term liabilities during the five successive twelve-month periods beginning April 1, 2020 (and through 2024) are $792.3 million, $5.1 million, $3.5 million, $39.5 million, and $2.4 million, respectively. The Debtors' filing of the Bankruptcy Petitions constituted an event of default that accelerated the Debtors' obligations under the Unit credit agreement and the indenture governing the Notes. The debt associated with both are reflected as current liabilities as of March 31, 2020.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	ASSET RETIREMENT OBLIGATIONSWe are required to record the estimated fair value of the liabilities relating to the future retirement of our long-lived assets. Our oil and natural gas wells are plugged and abandoned when the oil and natural gas reserves in those wells are depleted or the wells are no longer able to produce. The plugging and abandonment liability for a well is recorded in the period in which the obligation is incurred (at the time the well is drilled or acquired). None of our assets are restricted for purposes of settling these AROs. All our AROs relate to the plugging costs associated with our oil and gas wells. The following table shows certain information about our estimated AROs for the periods indicated: Three Months Ended March 31, 2020 2019 (In thousands) ARO liability, January 1: $ 66,627 $ 64,208 Accretion of discount 596 562 Liability incurred 314 3,116 Liability settled (319) (1,636) Liability sold (15) (549) Revision of estimates (1) (3,384) 2,139 ARO liability, March 31: 63,819 67,840 Less current portion 1,470 1,742 Total long-term ARO $ 62,349 $ 66,098 _______________________

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The FASB issued 2020-04 which provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. The amendment will be in effect for a limited time through December 31, 2022. Adopted Standards Measurement of Credit Losses on Financial Instruments (Topic 326). The FASB issued ASU 2016-13 which replaces current methods for evaluating impairment of financial instruments not measured at fair value, including trade accounts receivable and certain debt securities, with a current expected credit loss model. The amendment will be effective for reporting periods after December 15, 2019. The adoption of this guidance did not have a material impact on our consolidated financial statements or related disclosures. Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The FASB issued ASU 2018-13 to modify the disclosure requirements in Topic 820. Part of the disclosures were removed or modified, and other disclosures were added. The amendment will be effective for reporting periods beginning after December 15, 2019. Early adoption is permitted. The adoption of this guidance did not have a material impact on our consolidated financial statements or related disclosures.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The Company has a significant amount of indebtedness that is senior to its existing common stock in its capital structure. As a result, the Company believes that it is highly likely that its existing common shares, including shares of its restricted stock, will be cancelled in its Chapter 11 proceedings and entitled to no recovery. For restricted stock awards and stock options, we had: Three Months Ended March 31, 2020 2019 (In millions) Recognized stock compensation expense $ 2.5 $ 3.8 Capitalized stock compensation cost for our oil and natural gas properties — 0.6 Tax benefit on stock-based compensation 0.6 0.9 The remaining unrecognized compensation cost related to unvested awards at March 31, 2020 is approximately $8.2 million. The weighted average period over which this cost will be recognized is 1.3 of a year. Our Second Amended and Restated Unit Corporation Stock and Incentive Compensation Plan effective May 6, 2015 (the amended plan) allows us to grant stock-based and cash-based compensation to our employees (including employees of subsidiaries) and to non-employee directors. There are 7,230,000 shares of the company's common stock authorized for issuance to eligible participants under the amended plan with 2,000,000 shares being the maximum number of shares that can be issued as "incentive stock options." We did not grant any stock options during either of the three month periods ending March 31, 2020 or 2019. We did not grant any restricted stock awards during the three-month periods ending March 31, 2020. This table shows the fair value of restricted stock awards granted to employees and non-employee directors during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Time Performance Vested Shares granted: Employees 925,673 424,070 Non-employee directors — — 925,673 424,070 Estimated fair value (in millions): (1) Employees $ 14.6 $ 7.1 Non-employee directors — — $ 14.6 $ 7.1 Percentage of shares granted expected to be distributed: Employees 95 % 64 % Non-employee directors N/A N/A _______________________ 1. The performance shares represent 100% of the grant date fair value. (We recognize the grant date fair value minus estimated forfeitures.) three three three

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES Commodity Derivatives We have signed various types of derivative transactions covering some of our projected natural gas and oil production. These transactions should reduce our exposure to market price volatility by setting the price(s) we will receive for that production. Our decisions on the price(s), type, and quantity of our production subject to a derivative contract are based, in part, on our view of current and future market conditions. As of March 31, 2020, these hedges made up our derivative transactions: • Basis/Differential Swaps. We receive or pay the NYMEX settlement value plus or minus a fixed delivery point price for the commodity and pay or receive the published index price at the specified delivery point. We use basis/differential swaps to hedge the price risk between NYMEX and its physical delivery points. • Three-way collars. A three-way collar contains a fixed floor price (long put), fixed subfloor price (short put), and a fixed ceiling price (short call). If the market price exceeds the ceiling strike price, we receive the ceiling strike price and pay the market price. If the market price is between the ceiling and the floor strike price, no payments are due from either party. If the market price is below the floor price but above the subfloor price, we receive the floor strike price and pay the market price. If the market price is below the subfloor price, we receive the market price plus the difference between the floor and subfloor strike prices and pay the market price. We have documented policies and procedures to monitor and control the use of derivative transactions. We do not engage in derivative transactions not otherwise tied to our projected production. Any changes in the fair value of our derivative transactions before maturity (i.e., temporary fluctuations in value) are reported in gain (loss) on derivatives in our Unaudited Condensed Consolidated Statements of Operations. As a result of the commencement of the Chapter 11 Cases, the Debtors' ability to enter into derivative transactions is limited. At March 31, 2020, these derivatives were outstanding: Term Commodity Contracted Volume Weighted Average Contracted Market Apr'20 - Dec'20 Natural gas - basis swap 30,000 MMBtu/day $(0.275) NGPL TEXOK Apr'20 - Dec'20 Natural gas - basis swap 20,000 MMBtu/day $(0.455) PEPL Jan'21 - Dec'21 Natural gas - basis swap 30,000 MMBtu/day $(0.215) NGPL TEXOK Apr'20 - Dec'20 Natural gas - three-way collar 30,000 MMBtu/day $2.50 - $2.20 - $2.80 IF - NYMEX (HH) The following tables present the fair values and locations of the derivative transactions recorded in our Unaudited Condensed Consolidated Balance Sheets: Derivative Assets Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative asset $ 661 $ 633 Long-term Non-current derivative asset — — Total derivative assets $ 661 $ 633 Derivative Liabilities Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative liability $ — $ — Long-term Non-current derivative liability 123 27 Total derivative liabilities $ 123 $ 27 All our counterparties are subject to master netting arrangements. If we have a legal right of set-off, we net the value of the derivative transactions we have with the same counterparty in our Unaudited Condensed Consolidated Balance Sheets. Following is the effect of derivative instruments on the Unaudited Condensed Consolidated Statements of Operations for the periods indicated: Three Months Ended March 31, 2020 2019 (In thousands) Gain (loss) on derivatives: Gain (loss) on derivatives, included are amounts settled during the period of $551 and $2,656, respectively $ 483 $ (6,932) $ 483 $ (6,932) The commencement of the Chapter 11 Cases constituted a termination event with respect of the company's derivative instruments, which permits the counterparties to such derivative instruments to terminated their outstanding hedges. Such terminations are not stayed under the Bankruptcy Code.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the amount that would be received from the sale of an asset or paid for transferring a liability in an orderly transaction between market participants (in either case, an exit price). To estimate an exit price, a three-level hierarchy is used prioritizing the valuation techniques used to measure fair value into three levels with the highest priority given to Level 1 and the lowest priority given to Level 3. The levels are summarized as follows: • Level 1—unadjusted quoted prices in active markets for identical assets and liabilities. • Level 2—significant observable pricing inputs other than quoted prices included within level 1 either directly or indirectly observable as of the reporting date. Essentially, inputs (variables used in the pricing models) that are derived principally from or corroborated by observable market data. • Level 3—generally unobservable inputs developed based on the best information available and may include our own internal data. The inputs available to us determine the valuation technique we use to measure the fair values of our financial instruments. The following tables set forth our recurring fair value measurements: March 31, 2020 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 189 $ 948 $ (476) $ 661 Liabilities (599) — 476 (123) Total commodity derivatives $ (410) $ 948 $ — $ 538 December 31, 2019 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 177 $ 1,204 $ (748) $ 633 Liabilities (775) — 748 (27) Total commodity derivatives $ (598) 1,204 — 606 All our counterparties are subject to master netting arrangements. If a legal right of set-off exists, we net the value of the derivative transactions we have with the same counterparty. We are not required to post cash collateral with our counterparties and no collateral has been posted as of March 31, 2020. We used the following methods and assumptions to estimate the fair values of the assets and liabilities in the table above. There were no transfers between Level 2 and Level 3 financial assets (liabilities). Level 2 Fair Value Measurements Commodity Derivatives . We measure the fair values of our crude oil and natural gas swaps using estimated internal discounted cash flow calculations based on the NYMEX futures index. Level 3 Fair Value Measurements Commodity Derivatives . The fair values of our natural gas and crude oil collars and three-way collars are estimated using internal discounted cash flow calculations based on forward price curves, quotes obtained from brokers for contracts with similar terms, or quotes obtained from counterparties to the agreements. The following table is a reconciliation of our Level 3 fair value measurements: Net Derivatives Three Months Ended March 31, 2020 2019 (In thousands) Beginning of period $ 1,204 $ 10,630 Total gains or losses (realized and unrealized): Included in earnings (1) 563 (5,434) Settlements (819) (2,116) End of period $ 948 $ 3,080 Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period $ (256) $ (7,550) _______________________ 1. Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives. The following table provides quantitative information about our Level 3 unobservable inputs at March 31, 2020: Commodity (1) Fair Value Valuation Technique Unobservable Input Range (In thousands) Natural gas three-way collar $ 948 Discounted cash flow Forward commodity price curve $0.00 -$0.86 _______________________ 1. The commodity contracts detailed in this category include non-exchange-traded natural gas three-way collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period. Our valuation at March 31, 2020 reflected that the risk of non-performance was immaterial. Fair Value of Other Financial Instruments This disclosure of the estimated fair value of financial instruments is made under accounting guidance for financial instruments. We have determined the estimated fair values by using market information and certain valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Using different market assumptions or valuation methodologies may have a material effect on our estimated fair value amounts. At March 31, 2020, the carrying values on the Unaudited Condensed Consolidated Balance Sheets for cash and cash equivalents (composed of bank and money market accounts - classified as Level 1), accounts receivable, accounts payable, other current assets, and current liabilities approximate their fair value because of their short-term nature. The carrying amounts of long-term debt associated with the Notes, net of unamortized discount and debt issuance costs, reported in the Unaudited Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 were $647.3 million and $646.7 million, respectively. Filing the Bankruptcy Petitions on May 22, 2020 constituted an event of default that accelerated the company’s obligations under the Notes and they are classified as current in the Unaudited Condensed Balance Sheet as of March 31, 2020. The estimated fair value of the Notes using quoted market prices at March 31, 2020 and December 31, 2019 was $65.9 million and $357.5 million, respectively. The Notes would be classified as Level 2. Fair Value of Non-Financial Instruments The initial measurement of AROs at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property, plant, and equipment. Significant Level 3 inputs used in the calculation of AROs include plugging costs and remaining reserve lives. A reconciliation of our AROs is presented in Note 9 – Asset Retirement Obligations.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases of Lessee Disclosure	LEASES Operating Leases under ASC 840 We lease office space or yards in Edmond and Oklahoma City, Oklahoma; Houston, Texas; Englewood, Colorado; and Pinedale, Wyoming under the terms of operating leases expiring through December 2021. We own our corporate headquarters in Tulsa, Oklahoma. We also have several compressor rentals, equipment leases, and lease space on short-term commitments to stack excess drilling rig equipment and production inventory. Operating Leases under ASC 842 Adoption of Accounting Standards Codification (“ASC”) Topic 842, “Leases." We adopted Topic 842 on January 1, 2019, using the modified retrospective method and the optional transition method to record the adoption impact through a cumulative adjustment to equity. Results for reporting periods beginning after January 1, 2019, are presented under Topic 842, while prior periods are not adjusted and continue to be reported under the accounting standards in effect for those periods. We determine whether a contract is or contains a lease at inception of the contract based on whether an identified asset exists and whether we may obtain substantially all the benefit of the assets and to control its use over the full term of the agreement. When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate considering both the revolving credit rates and a credit notching approach to discount the lease payments based on information available at lease commencement. There are no material residual value guarantees and no restrictions or covenants in our lease agreements. Certain of our leases include provisions for variable payments. These variable payments are typically determined based on a measure of throughput or actual days or another measure of usage and are not included in the calculation of lease liabilities and right-of-use assets. Related to our oil and natural gas segment, our short-term lease costs include those that are recognized in profit or loss during the period and those that are capitalized as part of the cost of another asset under other U.S. GAAP. As the costs related to our drilling and production activities are reflected at our net ownership consistent with the principals of proportional consolidation, and lease commitments are generally considered gross as the operator, the costs may not reasonably reflect the company’s short-term lease commitments. As of March 31, 2020, we had an average working interest of 95% in our operated properties. Practical Expedients and Policies Elected. We elected the hindsight expedient, which allows us to use hindsight in assessing lease term; the package of practical expedients permitted under the guidance, which allowed us to carry forward the historical lease classification; and the land easement expedient, which allowed us to apply the guidance prospectively at adoption for land easements on existing agreements. We applied the short-term policy election, which allowed us to exclude from recognition on the balance sheet leases with an initial term of 12 months or less. We considered quantitative and qualitative factors when determining the application of the practical expedient that allowed us not to separate lease and non-lease components and are accounting for the agreements as a single lease component. We routinely enter into related party agreements between our three segments. These agreements have been evaluated under the guidance of ASC 842. Routinely, our oil and natural gas segment contracts its drilling equipment from our drilling segment. We have determined that the contracting of our drilling segment's drilling rigs will be accounted for under ASC 606 as the service has been deemed the predominate component of the contract per the lessor practical expedient. Adoption. Adoption of Topic 842 resulted in new operating lease assets and lease liabilities on our Unaudited Condensed Consolidated Balance Sheet of $3.7 million and $3.5 million, respectively, as of January 1, 2019, which represents non-cash operating activity. The immaterial difference between the lease assets and lease liabilities was recorded as an adjustment to the beginning balance of retained earnings, which represents the cumulative impact of adopting the standard. Our accounting for finance leases remained substantially unchanged. Leases. We lease certain office space, land and equipment, including pipeline equipment and office equipment. Our lease payments are generally straight-line and exercising lease renewal options, which vary in term, is at our sole discretion. We include renewal periods in our lease term if we are reasonably certain to exercise renewal options. Our lease agreements do not include options to purchase the leased property. The following table shows supplemental cash flow information related to leases for the three months of March 31, 2020 and 2019: March 31, March 31, (In thousands) Cash paid for amounts in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,333 577 Financing cash flows for finance leases 1,025 985 Lease liabilities recognized in exchange for new operating lease right of use assets — 5 The following table shows information about our lease assets and liabilities in our Unaudited Condensed Consolidated Balance Sheet: Classification on the Consolidated Balance Sheet March 31, December 31, (In thousands) Assets Operating right of use assets Right of use assets $ 6,937 $ 5,673 Finance right of use assets Property, plant, and equipment, net 16,926 17,396 Total right of use assets $ 23,863 $ 23,069 Liabilities Current liabilities: Operating lease liabilities Current operating lease liabilities $ 4,128 $ 3,430 Finance lease liabilities Current portion of other long-term liabilities 5,852 4,164 Non-current liabilities: Operating lease liabilities Operating lease liabilities 2,639 2,071 Finance lease liabilities Other long-term liabilities 502 3,215 Total lease liabilities $ 13,121 $ 12,880 The following table shows certain information related to the lease costs for our finance and operating leases for the three months ended March 31, 2020: March 31, March 31, (In thousands) Components of total lease cost: Amortization of finance leased assets $ 1,025 $ 985 Interest on finance lease liabilities 70 111 Operating lease cost 1,244 598 Short-term lease cost (1) 3,991 9,974 Variable lease cost 82 106 Total lease cost $ 6,412 $ 11,774 _______________________ 1. Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $1.0 million and $5.7 million for the first three months of 2020 and 2019, respectively. The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases: Weighted Average Remaining Lease Term Weighted Average Discount Rate (1) (In years) Operating leases 1.9 6.31% Finance leases 1.4 4.00% _______________________ 1. Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease. The following table sets forth the maturity of our operating lease liabilities as of March 31, 2020: Amount (In thousands) Ending April 1, 2021 $ 4,425 2022 2,356 2023 296 2024 29 2025 12 2026 and beyond 72 Total future payments 7,190 Less: Interest 423 Present value of future minimum operating lease payments 6,767 Less: Current portion 4,128 Total long-term operating lease payments $ 2,639 Finance Leases In 2014, Superior entered into finance lease agreements for 20 compressors with initial terms of seven and $0.2 million, respectively, at March 31, 2020. Annual payments, net of maintenance and interest, average $4.5 million annually through 2021. At the end of the term, Superior has the option to purchase the assets at 10% of their then fair market value. The following table sets forth the maturity of our finance lease liabilities as of March 31, 2020: Amount Ending April 1, (In thousands) 2021 $ 7,841 2022 579 Total future payments 8,420 Less payments related to: Maintenance 1,884 Interest 182 Present value of future minimum finance lease payments 6,354 Less: Current portion 5,852 Total long-term finance lease payments $ 502

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES On May 22, 2020, the Debtors filed the Bankruptcy Petitions seeking relief under the Bankruptcy Code. The commencement of the Chapter 11 Cases automatically stayed all of the proceedings and actions against the Debtors (other than certain regulatory enforcement matters). For further information on the Chapter 11 Cases, please see Note 2 – Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern. We manage our exposure to environmental liabilities on properties to be acquired by identifying existing problems and assessing the potential liability. We also conduct periodic reviews, on a company-wide basis, to identify changes in our environmental risk profile. These reviews evaluate whether there is a probable liability, its amount, and the likelihood that the liability will be incurred. Any potential liability is determined by considering, among other matters, incremental direct costs of any likely remediation and the proportionate cost of employees expected to devote significant time directly to any possible remediation effort. As it relates to evaluations of purchased properties, depending on the extent of an identified environmental problem, we may exclude a property from the acquisition, require the seller to remediate the property to our satisfaction, or agree to assume liability for the remediation of the property. We have not historically experienced any environmental liability while being a contract driller since the greatest portion of that risk is borne by the operator. Any liabilities we have incurred have been small and were resolved while the drilling rig was on the location. Those costs were in the direct cost of drilling the well. During the second quarter of 2018, as part of the Superior transaction, we entered into a contractual obligation that commits us to spend $150.0 million to drill wells in the Granite Wash/Buffalo Wallow area over three years starting January 1, 2019. This amount is included in our future drilling plans. For each dollar of the $150.0 million we do not spend (over the three-year period), we would forgo receiving $0.58 of future distributions from our 50% ownership interest in our consolidated mid-stream subsidiary. At March 31, 2020, if we elected not to drill or spend any additional money in the designated area before December 31, 2021, the maximum amount we could forgo from distributions would be $72.7 million. We have no plans to drill in 2020. Total spent towards the $150.0 million as of March 31, 2020 was $24.7 million. We have firm transportation commitments to transport our natural gas from various systems for approximately $0.6 million over the next twelve months and $0.6 million for the two years thereafter.

Variable Interest Entity Arrang

Variable Interest Entity Arrangements	3 Months Ended
	Mar. 31, 2020
Variable Interest Entity Arrangements [Abstract]
Variable Interest Entity Arrangements	VARIABLE INTEREST ENTITY ARRANGEMENTS On April 3, 2018 we sold 50% of the ownership interest in Superior. The 50% interest in Superior we sold was acquired by SP Investor Holdings, LLC, a holding company jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager. Superior will be governed and managed under the Amended and Restated Limited Liability Company Agreement and a Management Services Agreement (MSA). The MSA is between our affiliate, SPC Midstream Operating, L.L.C. (Operator) and Superior. The Operator is a wholly owned subsidiary of Unit Corporation. Under the guidance in ASC 810, Consolidation, we have determined that Superior is a VIE. The two variable interests applicable to Unit include the 50% equity investment in Superior and the MSA. The MSA gives us the power to direct the activities that most significantly affect Superior's operating performance. The MSA is a separate variable interest. Unit through the MSA has the power to direct Superior’s most significant activities; reciprocally the equity investors lack the power to direct the activities that most affect the entity’s economic performance. Because of this, Unit is considered the primary beneficiary. There have been no changes to the primary beneficiary during the quarter ended March 31, 2020. As the primary beneficiary of this VIE, we consolidate in our financial statements the financial position, results of operations, and cash flows of this VIE, and all intercompany balances and transactions between us and the VIE are eliminated in our consolidated financial statements. Cash distributions of income, net of agreed on expenses, and estimated expenses are allocated to the equity owners as specified in the relevant agreements. On the sale or liquidation of Superior, distributions would occur in the order and priority specified in the relevant agreements. As the Operator, we provide services, like operations and maintenance support, accounting, legal, and human resources to Superior for a monthly service fee of $260,560. Superior's creditors have no recourse to our general credit. Superior's credit agreement is not guaranteed by Unit. The obligations under Superior's credit agreement are secured by, among other things, mortgage liens on certain of Superior’s processing plants and gathering systems. The carrying value of Superior's assets and liabilities, after eliminations of any intercompany transactions and balances, in the consolidated balance sheets were as follows: March 31, December 31, (In thousands) Current assets: Cash and cash equivalents $ 23,900 $ — Accounts receivable 15,305 21,073 Prepaid expenses and other 7,473 7,686 Total current assets 46,678 28,759 Property and equipment: Gas gathering and processing equipment 829,600 824,699 Transportation equipment 3,397 3,390 832,997 828,089 Less accumulated depreciation, depletion, amortization, and impairment 483,205 407,144 Net property and equipment 349,792 420,945 Right of use asset 3,227 3,948 Other assets 7,651 9,442 Total assets $ 407,348 $ 463,094 Current liabilities: Accounts payable $ 12,013 $ 18,511 Accrued liabilities 3,064 4,198 Current operating lease liability 1,961 2,407 Current portion of other long-term liabilities 8,765 7,060 Total current liabilities 25,803 32,176 Long-term debt 37,000 16,500 Operating lease liability 1,131 1,404 Other long-term liabilities 4,782 8,126 Total liabilities $ 68,716 $ 58,206

Industry Segment Information

Industry Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Industry Segment Information	INDUSTRY SEGMENT INFORMATION We have three main business segments offering different products and services within the energy industry: • Oil and natural gas, • Contract drilling, and • Mid-stream Our oil and natural gas segment is engaged in the acquisition, development, and production of oil, NGLs, and natural gas properties. The contract drilling segment is engaged in the land contract drilling of oil and natural gas wells and the mid-stream segment is engaged in the buying, selling, gathering, processing, and treating of natural gas and NGLs. We evaluate each segment’s performance based on its operating income, which is defined as operating revenues less operating expenses and depreciation, depletion, amortization, and impairment. We have no oil and natural gas production outside the United States. The following tables provide certain information about the operations of each of our segments: Three Months Ended March 31, 2020 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 48,524 $ — $ — $ — $ (2) $ 48,522 Contract drilling — 36,632 — — — 36,632 Gas gathering and processing — — 42,680 — (5,458) 37,222 Total revenues 48,524 36,632 42,680 — (5,460) 122,376 Expenses: Operating costs: Oil and natural gas 31,415 — — — (752) 30,663 Contract drilling — 25,449 — — — 25,449 Gas gathering and processing — — 32,319 — (4,708) 27,611 Total operating costs 31,415 25,449 32,319 — (5,460) 83,723 Depreciation, depletion, and amortization 36,728 11,745 12,273 871 — 61,617 Impairments 267,836 410,126 63,962 — — 741,924 Total expenses 335,979 447,320 108,554 871 (5,460) 887,264 Loss on abandonment of assets 17,554 — — — — 17,554 General and administrative — — — 11,553 — 11,553 (Gain) loss on disposition of assets (13) 409 (6) — — 390 Loss from operations (304,996) (411,097) (65,868) (12,424) — (794,385) Gain on derivatives — — — 483 — 483 Interest, net — — (518) (12,739) — (13,257) Other 18 17 18 7 — 60 Loss before income taxes $ (304,978) $ (411,080) $ (66,368) $ (24,673) $ — $ (807,099) _______________________ 1. The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. Three Months Ended March 31, 2019 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 86,095 $ — $ — $ — $ — $ 86,095 Contract drilling — 58,199 — — (7,044) 51,155 Gas gathering and processing — — 70,509 — (18,068) 52,441 Total revenues 86,095 58,199 70,509 — (25,112) 189,691 Expenses: Operating costs: Oil and natural gas 34,008 — — — (1,294) 32,714 Contract drilling — 37,385 — — (5,984) 31,401 Gas gathering and processing — — 56,129 — (16,774) 39,355 Total operating costs 34,008 37,385 56,129 — (24,052) 103,470 Depreciation, depletion, and amortization 35,767 12,699 11,726 1,934 — 62,126 Total expenses 69,775 50,084 67,855 1,934 (24,052) 165,596 General and administrative — — — 9,741 — 9,741 (Gain) loss on disposition of assets (79) 1,746 (42) (10) — 1,615 Income (loss) from operations 16,399 6,369 2,696 (11,665) (1,060) 12,739 Loss on derivatives — — — (6,932) — (6,932) Interest, net — — (336) (8,202) — (8,538) Other — — — 5 — 5 Income (loss) before income taxes $ 16,399 $ 6,369 $ 2,360 $ (26,794) (1,060) $ (2,726) _______________________ 1. The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.

Supplemental Condensed Consolid

Supplemental Condensed Consolidated Financial Information	3 Months Ended
	Mar. 31, 2020
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 unaudited condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X. For the following footnote: • we are called "Parent", • the direct subsidiaries are 100% owned by the Parent and the guarantee is full and unconditional and joint and several and called "Combined Guarantor Subsidiaries", and • Superior and its subsidiaries and the Operator are called "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) March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 17,008 $ 81 $ 23,905 $ — $ 40,994 Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 1,670 40,119 17,395 (4,805) 54,379 Materials and supplies 414 — — 414 Current derivative asset 661 — — — 661 Income taxes receivable 2,673 — — — 2,673 Prepaid expenses and other 3,138 3,143 7,473 — 13,754 Total current assets 25,150 43,757 48,773 (4,805) 112,875 Property and equipment: Oil and natural gas properties on the full cost method: Proved properties — 6,565,136 — — 6,565,136 Unproved properties not being amortized — 31,538 — — 31,538 Drilling equipment — 1,298,626 — — 1,298,626 Gas gathering and processing equipment — — 829,600 — 829,600 Saltwater disposal systems — 43,831 — — 43,831 Corporate land and building — 59,080 — — 59,080 Transportation equipment 9,713 14,405 3,397 — 27,515 Other 29,008 29,031 — — 58,039 38,721 8,041,647 832,997 — 8,913,365 Less accumulated depreciation, depletion, amortization, and impairment 34,327 7,250,779 483,204 — 7,768,310 Net property and equipment 4,394 790,868 349,793 — 1,145,055 Intercompany receivable 973,769 — — (973,769) — Investments 74,752 — — (74,752) — Right of use asset 39 3,724 3,227 (53) 6,937 Other assets 7,060 8,266 7,650 — 22,976 Total assets $ 1,085,164 $ 846,615 $ 409,443 $ (1,053,379) $ 1,287,843 March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 3,121 $ 47,721 $ 12,014 $ (4,261) $ 58,595 Accrued liabilities 30,735 7,585 4,055 (545) 41,830 Current operating lease liability 17 2,156 1,961 (6) 4,128 Current portion of long-term debt less debt issuance costs 771,283 — — — 771,283 Current portion of other long-term liabilities 3,020 6,533 8,764 — 18,317 Total current liabilities 808,176 63,995 26,794 (4,812) 894,153 Intercompany debt — 972,510 1,259 (973,769) — Long-term debt — — 37,000 — 37,000 Non-current derivative liability 123 — — — 123 Operating lease liability 20 1,533 1,132 (46) 2,639 Other long-term liabilities 11,154 72,301 4,782 — 88,237 Deferred income taxes 11,205 — — — 11,205 Total shareholders' equity 254,486 (263,724) 338,476 (74,752) 254,486 Total liabilities and shareholders’ equity $ 1,085,164 $ 846,615 $ 409,443 $ (1,053,379) $ 1,287,843 December 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 503 $ 68 $ — $ — $ 571 Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 2,645 64,805 24,653 (9,447) 82,656 Materials and supplies — 449 — — 449 Current derivative asset 633 — — — 633 Income tax receivable 1,756 — — — 1,756 Assets held for sale — 5,908 — — 5,908 Prepaid expenses and other 2,019 3,373 7,686 — 13,078 Total current assets 7,556 74,603 32,339 (9,447) 105,051 Property and equipment: Oil and natural gas properties on the full cost method: Proved properties — 6,341,582 — — 6,341,582 Unproved properties not being amortized — 252,874 — — 252,874 Drilling equipment — 1,295,713 — — 1,295,713 Gas gathering and processing equipment — — 824,699 — 824,699 Saltwater disposal systems — 69,692 — — 69,692 Corporate land and building — 59,080 — — 59,080 Transportation equipment 9,712 16,621 3,390 — 29,723 Other 28,927 29,065 — — 57,992 38,639 8,064,627 828,089 — 8,931,355 Less accumulated depreciation, depletion, amortization, and impairment 33,794 6,537,731 407,144 — 6,978,669 Net property and equipment 4,845 1,526,896 420,945 — 1,952,686 Intercompany receivable 1,048,785 — — (1,048,785) — Investments 865,252 — — (865,252) — Right of use asset 46 1,733 3,948 (54) 5,673 Other assets 8,107 9,094 9,441 — 26,642 Total assets $ 1,934,591 $ 1,612,326 $ 466,673 $ (1,923,538) $ 2,090,052 December 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 12,259 $ 61,002 $ 18,511 $ (7,291) $ 84,481 Accrued liabilities 28,003 14,024 6,691 (2,156) 46,562 Current operating lease liability 20 1,009 2,407 (6) 3,430 Current portion of long-term debt 108,200 — — — 108,200 Current portion of other long-term liabilities 3,003 7,313 7,060 — 17,376 Total current liabilities 151,485 83,348 34,669 (9,453) 260,049 Intercompany debt — 1,047,599 1,186 (1,048,785) — Long-term debt less debt issuance costs 646,716 — 16,500 — 663,216 Non-current derivative liability 27 — — — 27 Operating lease liability 25 690 1,404 (48) 2,071 Other long-term liabilities 12,553 74,662 8,126 — 95,341 Deferred income taxes 68,150 (54,437) — — 13,713 Total shareholders' equity 1,055,635 460,464 404,788 (865,252) 1,055,635 Total liabilities and shareholders’ equity $ 1,934,591 $ 1,612,326 $ 466,673 $ (1,923,538) $ 2,090,052 Condensed Consolidating Statements of Operations (Unaudited) 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) Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Revenues $ — $ 144,294 $ 70,509 $ (25,112) $ 189,691 Expenses: Operating costs — 71,393 56,129 (24,052) 103,470 Depreciation, depletion, and amortization 1,934 48,466 11,726 — 62,126 General and administrative — 9,741 — — 9,741 (Gain) loss on disposition of assets (10) 1,667 (42) — 1,615 Total operating costs 1,924 131,267 67,813 (24,052) 176,952 Income (loss) from operations (1,924) 13,027 2,696 (1,060) 12,739 Interest, net (8,202) — (336) — (8,538) Loss on derivatives (6,932) — — — (6,932) Other, net 5 — — — 5 Income (loss) before income taxes (17,053) 13,027 2,360 (1,060) (2,726) Income tax expense (benefit) (3,699) 3,255 — — (444) Equity in net earnings from investment in subsidiaries, net of taxes 9,850 — — (9,850) — Net income (loss) (3,504) 9,772 2,360 (10,910) (2,282) Less: net income attributable to non-controlling interest — — 1,222 — 1,222 Net income (loss) attributable to Unit Corporation $ (3,504) $ 9,772 $ 1,138 $ (10,910) $ (3,504) Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited) Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net loss $ (803,674) $ (724,188) $ (66,366) $ 790,554 $ (803,674) Other comprehensive loss, net of taxes: Unrealized gain on securities, net of tax of $0 — — — — — Comprehensive loss (803,674) (724,188) (66,366) 790,554 (803,674) Less: Comprehensive loss attributable to non-controlling interests (33,180) — (33,180) 33,180 (33,180) Comprehensive loss attributable to Unit Corporation $ (770,494) $ (724,188) $ (33,186) $ 757,374 $ (770,494) Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net income (loss) $ (3,504) $ 9,772 $ 2,360 $ (10,910) $ (2,282) Other comprehensive income (loss), net of taxes: Unrealized income on securities, net of tax of $7 — 24 — — 24 Comprehensive income (loss) (3,504) 9,796 2,360 (10,910) (2,258) Less: Comprehensive income attributable to non-controlling interests — — 1,222 — 1,222 Comprehensive income (loss) attributable to Unit Corporation $ (3,504) $ 9,796 $ 1,138 $ (10,910) $ (3,480) Condensed Consolidating Statements of Cash Flows (Unaudited) 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 Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 3,548 $ 64,168 $ 13,506 $ (34) $ 81,188 INVESTING ACTIVITIES: Capital expenditures (321) (110,089) (12,097) — (122,507) Producing properties and other acquisitions — (1,580) — — (1,580) Proceeds from disposition of assets 10 3,142 38 — 3,190 Net cash used in investing activities (311) (108,527) (12,059) — (120,897) FINANCING ACTIVITIES: Borrowings under credit agreement 106,900 — 2,900 — 109,800 Payments under credit agreement (66,900) — (2,900) — (69,800) Intercompany borrowings (advances), net (43,103) 44,407 (1,338) 34 — Net payments on finance leases — — (985) — (985) Employee taxes paid by withholding shares (4,110) — — — (4,110) Distributions to non-controlling interest 919 — (1,837) — (918) Bank overdrafts 3,161 — — — 3,161 Net cash provided by (used in) financing activities (3,133) 44,407 (4,160) 34 37,148 Net increase (decrease) in cash and cash equivalents 104 48 (2,713) — (2,561) Cash and cash equivalents, beginning of period 403 208 5,841 — 6,452 Cash and cash equivalents, end of period $ 507 $ 256 $ 3,128 $ — $ 3,891

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Delay of Filing On May 7, 2020, we filed a Current Report on Form 8-K giving notice that we intended to delay the filing of our 10-Q for the fiscal quarter ended March 31, 2020. We relied on the SEC order (SEC Release 34-88465), to delay the filing of our 10-Q. Standstill and Amendment Agreement To facilitate the negotiation of proposals regarding the company's capital structure and the Chapter 11 restructuring, the company, UPC, UDC, BOKF, NA dba Bank of Oklahoma, and the RBL Lenders entered into a Standstill and Amendment Agreement on March 11, 2020 regarding the Unit credit facility, which delayed the scheduled borrowing base redetermination for the facility until the expiration of a standstill period and under which the RBL Lenders agreed not to exercise certain of their rights and remedies under the Unit credit facility. The standstill period was set to expire on April 15, 2020 and was ultimately extended to May 22, 2020. For further information, please see Note 2 – Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern—Liquidity, Unit Credit Facility and Debtor-in-Possession Credit Agreement. Voluntary Reorganization Under Chapter 11 of the Bankruptcy Code On May 22, 2020, the Debtors filed the Bankruptcy Petitions seeking relief under the Bankruptcy Code. We expect to continue operations in the normal course during the pendency of the Chapter 11 Cases. For further information, please see Note 2 – Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern—Voluntary Reorganization Under Chapter 11 of the Bankruptcy Code. Debtor-in-Possession Credit Agreement On May 27, 2020, the Debtors entered into the DIP credit agreement with the RBL Lenders (in such capacity, the DIP Lenders) and BOKF, NA dba Bank of Oklahoma, as administrative agent, under which the DIP Lenders agreed to provide the company with the $36.0 million multi-draw loan facility. On June 19, 2020, the the Bankruptcy Court granted final approval of the DIP credit facility. For further information, please see Note 2 – Chapter 11 Proceedings, Liquidity, and Ability to Continue as a Going Concern—Liquidity, Unit Credit Facility and Debtor-in-Possession Credit Agreement. Interest Payment Deferral on the Notes On May 15, 2020, the company elected not to make the approximate $21.5 million semi-annual interest payment due on the Notes. For further information, please see Note 8 – Long-Term Debt and Other Long-Term Liabilities—Long-Term Debt—6.625% Senior Subordinated Notes. Reduction in Force In April 2020, we initiated a plan to reduce the number of employees in our organization in an effort to lower operating costs and restructure our business. We announced and communicated a reduction in personnel in our corporate offices as well as certain field office locations. As a result, we expect to incur incremental costs for severance related to our former employees. Delisting of Our Common Stock from the NYSE On May 26, 2020, trading in our common stock on the New York Stock Exchange (NYSE) was suspended because of the Debtors’ filing of the Chapter 11 Cases. Effective May 27, 2020, trades in our common stock began being quoted on the OTC Pink Market under the symbol “UNTCQ”. On June 10, 2020, the NYSE filed a Form 25 to delist our common stock and to remove it from registration under Section 12(b) of the Exchange Act.

Revenues from Contracts with Cu

Revenues from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue From Contracts with Customers [Abstract]
Contract with Customer, Asset and Liability	These tables show the changes in our mid-stream contract asset and contract liability balances during the three months ended March 31, 2020: March 31, December 31, Change (In thousands) Contract assets $ 11,395 $ 12,921 $ (1,526) Contract liabilities 6,343 7,061 (718) Contract assets (liabilities), net $ 5,052 $ 5,860 $ (808)
Revenue, Remaining Performance Obligation	Included below is the fixed revenue we will earn over the remaining term of the contracts and excludes all variable consideration to be earned with the associated contract. Contract Remaining Term of Contract April - December 2021 2022 2023 and beyond Total Remaining Impact to Revenue (In thousands) Demand fee contracts 3-9 years $ (2,967) $ (3,501) $ 1,380 $ 36 $ (5,052)

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Loss Per Share	Information related to the calculation of loss per share attributable to Unit Corporation is as follows: Loss Weighted Per-Share (In thousands except per share amounts) For the three months ended March 31, 2020 Basic loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50) Effect of dilutive stock options and restricted stock — — — Diluted loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50) For the three months ended March 31, 2019 Basic loss attributable to Unit Corporation per common share $ (3,504) 52,557 $ (0.07) Effect of dilutive stock options and restricted stock — — — Diluted loss attributable to Unit Corporation per common share $ (3,504) 52,557 $ (0.07)
Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share	The following table shows the number of stock options (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock: Three Months Ended March 31, 2020 2019 Stock options 42,000 56,000 Average exercise price $ 48.56 $ 44.73

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities [Abstract]
Accrued Liabilities [Table Text Block]	Accrued liabilities consisted of: March 31, December 31, (In thousands) Interest payable $ 17,171 $ 6,562 Employee costs 8,093 17,832 Lease operating expenses 8,127 9,200 Taxes 3,141 3,450 Third-party credits 2,292 3,691 Other 3,006 5,827 Total accrued liabilities $ 41,830 $ 46,562

Long-Term Debt And Other Long_2

Long-Term Debt And Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	As of the date indicated, our long-term debt consisted of the following: March 31, December 31, (In thousands) Current portion of long-term debt: Unit credit agreement with an average interest rate of 2.9% and 4.0% at March 31, 2020 and December 31, 2019, respectively $ 124,000 $ 108,200 6.625% senior subordinated notes due 2021 650,000 — Total principal amount 774,000 108,200 Less: unamortized discount (801) — Less: debt issuance costs, net (1,916) — Total current portion of long-term debt 771,283 108,200 Long-term debt: Superior credit agreement with an average interest rate of 2.7% and 3.9% at March 31, 2020 and December 31, 2019, respectively 37,000 16,500 6.625% senior subordinated notes due 2021 — 650,000 Total principal amount 37,000 666,500 Less: unamortized discount — (971) Less: debt issuance costs, net — (2,313) Total long-term debt $ 37,000 $ 663,216
Other Long-Term Liabilities	Other long-term liabilities consisted of the following: March 31, December 31, (In thousands) Asset retirement obligation (ARO) liability $ 63,819 $ 66,627 Workers’ compensation 11,178 11,510 Finance lease obligations 6,354 7,379 Contract liability 6,343 7,061 Separation benefit plans 9,719 10,122 Deferred compensation plan 5,303 6,180 Gas balancing liability 3,838 3,838 106,554 112,717 Less current portion 18,317 17,376 Total other long-term liabilities $ 88,237 $ 95,341

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligations	The following table shows certain information about our estimated AROs for the periods indicated: Three Months Ended March 31, 2020 2019 (In thousands) ARO liability, January 1: $ 66,627 $ 64,208 Accretion of discount 596 562 Liability incurred 314 3,116 Liability settled (319) (1,636) Liability sold (15) (549) Revision of estimates (1) (3,384) 2,139 ARO liability, March 31: 63,819 67,840 Less current portion 1,470 1,742 Total long-term ARO $ 62,349 $ 66,098 _______________________

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock Awards and Stock Options	For restricted stock awards and stock options, we had: Three Months Ended March 31, 2020 2019 (In millions) Recognized stock compensation expense $ 2.5 $ 3.8 Capitalized stock compensation cost for our oil and natural gas properties — 0.6 Tax benefit on stock-based compensation 0.6 0.9
Schedule of Fair Value of the Restricted Stock Awards Granted During the Periods	This table shows the fair value of restricted stock awards granted to employees and non-employee directors during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Time Performance Vested Shares granted: Employees 925,673 424,070 Non-employee directors — — 925,673 424,070 Estimated fair value (in millions): (1) Employees $ 14.6 $ 7.1 Non-employee directors — — $ 14.6 $ 7.1 Percentage of shares granted expected to be distributed: Employees 95 % 64 % Non-employee directors N/A N/A _______________________ 1. The performance shares represent 100% of the grant date fair value. (We recognize the grant date fair value minus estimated forfeitures.)

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives outstanding	At March 31, 2020, these derivatives were outstanding: Term Commodity Contracted Volume Weighted Average Contracted Market Apr'20 - Dec'20 Natural gas - basis swap 30,000 MMBtu/day $(0.275) NGPL TEXOK Apr'20 - Dec'20 Natural gas - basis swap 20,000 MMBtu/day $(0.455) PEPL Jan'21 - Dec'21 Natural gas - basis swap 30,000 MMBtu/day $(0.215) NGPL TEXOK Apr'20 - Dec'20 Natural gas - three-way collar 30,000 MMBtu/day $2.50 - $2.20 - $2.80 IF - NYMEX (HH)
Fair Value of Derivative Instruments and Locations in Balance Sheets	The following tables present the fair values and locations of the derivative transactions recorded in our Unaudited Condensed Consolidated Balance Sheets: Derivative Assets Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative asset $ 661 $ 633 Long-term Non-current derivative asset — — Total derivative assets $ 661 $ 633 Derivative Liabilities Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative liability $ — $ — Long-term Non-current derivative liability 123 27 Total derivative liabilities $ 123 $ 27
Effect of Derivative Instruments Recognized in Income Statements, Derivative Instruments	Following is the effect of derivative instruments on the Unaudited Condensed Consolidated Statements of Operations for the periods indicated: Three Months Ended March 31, 2020 2019 (In thousands) Gain (loss) on derivatives: Gain (loss) on derivatives, included are amounts settled during the period of $551 and $2,656, respectively $ 483 $ (6,932) $ 483 $ (6,932) The commencement of the Chapter 11 Cases constituted a termination event with respect of the company's derivative instruments, which permits the counterparties to such derivative instruments to terminated their outstanding hedges. Such terminations are not stayed under the Bankruptcy Code.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The following tables set forth our recurring fair value measurements: March 31, 2020 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 189 $ 948 $ (476) $ 661 Liabilities (599) — 476 (123) Total commodity derivatives $ (410) $ 948 $ — $ 538 December 31, 2019 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 177 $ 1,204 $ (748) $ 633 Liabilities (775) — 748 (27) Total commodity derivatives $ (598) 1,204 — 606
Reconciliations Of Level 3 Fair Value Measurements	The following table is a reconciliation of our Level 3 fair value measurements: Net Derivatives Three Months Ended March 31, 2020 2019 (In thousands) Beginning of period $ 1,204 $ 10,630 Total gains or losses (realized and unrealized): Included in earnings (1) 563 (5,434) Settlements (819) (2,116) End of period $ 948 $ 3,080 Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period $ (256) $ (7,550) _______________________ 1. Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.
Schedule Of Quantitative Information About Unobservable Inputs	The following table provides quantitative information about our Level 3 unobservable inputs at March 31, 2020: Commodity (1) Fair Value Valuation Technique Unobservable Input Range (In thousands) Natural gas three-way collar $ 948 Discounted cash flow Forward commodity price curve $0.00 -$0.86 _______________________ 1. The commodity contracts detailed in this category include non-exchange-traded natural gas three-way collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Supplemental cash flow information related to leases	The following table shows supplemental cash flow information related to leases for the three months of March 31, 2020 and 2019: March 31, March 31, (In thousands) Cash paid for amounts in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,333 577 Financing cash flows for finance leases 1,025 985 Lease liabilities recognized in exchange for new operating lease right of use assets — 5
Schedule of lease assets and liabilities	The following table shows information about our lease assets and liabilities in our Unaudited Condensed Consolidated Balance Sheet: Classification on the Consolidated Balance Sheet March 31, December 31, (In thousands) Assets Operating right of use assets Right of use assets $ 6,937 $ 5,673 Finance right of use assets Property, plant, and equipment, net 16,926 17,396 Total right of use assets $ 23,863 $ 23,069 Liabilities Current liabilities: Operating lease liabilities Current operating lease liabilities $ 4,128 $ 3,430 Finance lease liabilities Current portion of other long-term liabilities 5,852 4,164 Non-current liabilities: Operating lease liabilities Operating lease liabilities 2,639 2,071 Finance lease liabilities Other long-term liabilities 502 3,215 Total lease liabilities $ 13,121 $ 12,880
Schedule of lease costs	The following table shows certain information related to the lease costs for our finance and operating leases for the three months ended March 31, 2020: March 31, March 31, (In thousands) Components of total lease cost: Amortization of finance leased assets $ 1,025 $ 985 Interest on finance lease liabilities 70 111 Operating lease cost 1,244 598 Short-term lease cost (1) 3,991 9,974 Variable lease cost 82 106 Total lease cost $ 6,412 $ 11,774 _______________________ 1. Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $1.0 million and $5.7 million for the first three months of 2020 and 2019, respectively.
Schedule of weighted average discount rate for leases	The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases: Weighted Average Remaining Lease Term Weighted Average Discount Rate (1) (In years) Operating leases 1.9 6.31% Finance leases 1.4 4.00% _______________________ 1. Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.
Operating leases	The following table sets forth the maturity of our operating lease liabilities as of March 31, 2020: Amount (In thousands) Ending April 1, 2021 $ 4,425 2022 2,356 2023 296 2024 29 2025 12 2026 and beyond 72 Total future payments 7,190 Less: Interest 423 Present value of future minimum operating lease payments 6,767 Less: Current portion 4,128 Total long-term operating lease payments $ 2,639
Finance leases	The following table sets forth the maturity of our finance lease liabilities as of March 31, 2020: Amount Ending April 1, (In thousands) 2021 $ 7,841 2022 579 Total future payments 8,420 Less payments related to: Maintenance 1,884 Interest 182 Present value of future minimum finance lease payments 6,354 Less: Current portion 5,852 Total long-term finance lease payments $ 502

Variable Interest Entity Arra_2

Variable Interest Entity Arrangements (Tables)	3 Months Ended
	Mar. 31, 2020
Variable Interest Entity Arrangements [Abstract]
Schedule of Assets and Liabilities	The carrying value of Superior's assets and liabilities, after eliminations of any intercompany transactions and balances, in the consolidated balance sheets were as follows: March 31, December 31, (In thousands) Current assets: Cash and cash equivalents $ 23,900 $ — Accounts receivable 15,305 21,073 Prepaid expenses and other 7,473 7,686 Total current assets 46,678 28,759 Property and equipment: Gas gathering and processing equipment 829,600 824,699 Transportation equipment 3,397 3,390 832,997 828,089 Less accumulated depreciation, depletion, amortization, and impairment 483,205 407,144 Net property and equipment 349,792 420,945 Right of use asset 3,227 3,948 Other assets 7,651 9,442 Total assets $ 407,348 $ 463,094 Current liabilities: Accounts payable $ 12,013 $ 18,511 Accrued liabilities 3,064 4,198 Current operating lease liability 1,961 2,407 Current portion of other long-term liabilities 8,765 7,060 Total current liabilities 25,803 32,176 Long-term debt 37,000 16,500 Operating lease liability 1,131 1,404 Other long-term liabilities 4,782 8,126 Total liabilities $ 68,716 $ 58,206

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Industry segment information	The following tables provide certain information about the operations of each of our segments: Three Months Ended March 31, 2020 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 48,524 $ — $ — $ — $ (2) $ 48,522 Contract drilling — 36,632 — — — 36,632 Gas gathering and processing — — 42,680 — (5,458) 37,222 Total revenues 48,524 36,632 42,680 — (5,460) 122,376 Expenses: Operating costs: Oil and natural gas 31,415 — — — (752) 30,663 Contract drilling — 25,449 — — — 25,449 Gas gathering and processing — — 32,319 — (4,708) 27,611 Total operating costs 31,415 25,449 32,319 — (5,460) 83,723 Depreciation, depletion, and amortization 36,728 11,745 12,273 871 — 61,617 Impairments 267,836 410,126 63,962 — — 741,924 Total expenses 335,979 447,320 108,554 871 (5,460) 887,264 Loss on abandonment of assets 17,554 — — — — 17,554 General and administrative — — — 11,553 — 11,553 (Gain) loss on disposition of assets (13) 409 (6) — — 390 Loss from operations (304,996) (411,097) (65,868) (12,424) — (794,385) Gain on derivatives — — — 483 — 483 Interest, net — — (518) (12,739) — (13,257) Other 18 17 18 7 — 60 Loss before income taxes $ (304,978) $ (411,080) $ (66,368) $ (24,673) $ — $ (807,099) _______________________ 1. The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. Three Months Ended March 31, 2019 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 86,095 $ — $ — $ — $ — $ 86,095 Contract drilling — 58,199 — — (7,044) 51,155 Gas gathering and processing — — 70,509 — (18,068) 52,441 Total revenues 86,095 58,199 70,509 — (25,112) 189,691 Expenses: Operating costs: Oil and natural gas 34,008 — — — (1,294) 32,714 Contract drilling — 37,385 — — (5,984) 31,401 Gas gathering and processing — — 56,129 — (16,774) 39,355 Total operating costs 34,008 37,385 56,129 — (24,052) 103,470 Depreciation, depletion, and amortization 35,767 12,699 11,726 1,934 — 62,126 Total expenses 69,775 50,084 67,855 1,934 (24,052) 165,596 General and administrative — — — 9,741 — 9,741 (Gain) loss on disposition of assets (79) 1,746 (42) (10) — 1,615 Income (loss) from operations 16,399 6,369 2,696 (11,665) (1,060) 12,739 Loss on derivatives — — — (6,932) — (6,932) Interest, net — — (336) (8,202) — (8,538) Other — — — 5 — 5 Income (loss) before income taxes $ 16,399 $ 6,369 $ 2,360 $ (26,794) (1,060) $ (2,726) _______________________ 1. The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.

Supplemental Condensed Consol_2

Supplemental Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Condensed Consolidated Financial Information [Abstract]
Condensed Consolidating Balance Sheets (Unaudited)	Condensed Consolidating Balance Sheets (Unaudited) March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 17,008 $ 81 $ 23,905 $ — $ 40,994 Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 1,670 40,119 17,395 (4,805) 54,379 Materials and supplies 414 — — 414 Current derivative asset 661 — — — 661 Income taxes receivable 2,673 — — — 2,673 Prepaid expenses and other 3,138 3,143 7,473 — 13,754 Total current assets 25,150 43,757 48,773 (4,805) 112,875 Property and equipment: Oil and natural gas properties on the full cost method: Proved properties — 6,565,136 — — 6,565,136 Unproved properties not being amortized — 31,538 — — 31,538 Drilling equipment — 1,298,626 — — 1,298,626 Gas gathering and processing equipment — — 829,600 — 829,600 Saltwater disposal systems — 43,831 — — 43,831 Corporate land and building — 59,080 — — 59,080 Transportation equipment 9,713 14,405 3,397 — 27,515 Other 29,008 29,031 — — 58,039 38,721 8,041,647 832,997 — 8,913,365 Less accumulated depreciation, depletion, amortization, and impairment 34,327 7,250,779 483,204 — 7,768,310 Net property and equipment 4,394 790,868 349,793 — 1,145,055 Intercompany receivable 973,769 — — (973,769) — Investments 74,752 — — (74,752) — Right of use asset 39 3,724 3,227 (53) 6,937 Other assets 7,060 8,266 7,650 — 22,976 Total assets $ 1,085,164 $ 846,615 $ 409,443 $ (1,053,379) $ 1,287,843 March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 3,121 $ 47,721 $ 12,014 $ (4,261) $ 58,595 Accrued liabilities 30,735 7,585 4,055 (545) 41,830 Current operating lease liability 17 2,156 1,961 (6) 4,128 Current portion of long-term debt less debt issuance costs 771,283 — — — 771,283 Current portion of other long-term liabilities 3,020 6,533 8,764 — 18,317 Total current liabilities 808,176 63,995 26,794 (4,812) 894,153 Intercompany debt — 972,510 1,259 (973,769) — Long-term debt — — 37,000 — 37,000 Non-current derivative liability 123 — — — 123 Operating lease liability 20 1,533 1,132 (46) 2,639 Other long-term liabilities 11,154 72,301 4,782 — 88,237 Deferred income taxes 11,205 — — — 11,205 Total shareholders' equity 254,486 (263,724) 338,476 (74,752) 254,486 Total liabilities and shareholders’ equity $ 1,085,164 $ 846,615 $ 409,443 $ (1,053,379) $ 1,287,843 December 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 503 $ 68 $ — $ — $ 571 Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 2,645 64,805 24,653 (9,447) 82,656 Materials and supplies — 449 — — 449 Current derivative asset 633 — — — 633 Income tax receivable 1,756 — — — 1,756 Assets held for sale — 5,908 — — 5,908 Prepaid expenses and other 2,019 3,373 7,686 — 13,078 Total current assets 7,556 74,603 32,339 (9,447) 105,051 Property and equipment: Oil and natural gas properties on the full cost method: Proved properties — 6,341,582 — — 6,341,582 Unproved properties not being amortized — 252,874 — — 252,874 Drilling equipment — 1,295,713 — — 1,295,713 Gas gathering and processing equipment — — 824,699 — 824,699 Saltwater disposal systems — 69,692 — — 69,692 Corporate land and building — 59,080 — — 59,080 Transportation equipment 9,712 16,621 3,390 — 29,723 Other 28,927 29,065 — — 57,992 38,639 8,064,627 828,089 — 8,931,355 Less accumulated depreciation, depletion, amortization, and impairment 33,794 6,537,731 407,144 — 6,978,669 Net property and equipment 4,845 1,526,896 420,945 — 1,952,686 Intercompany receivable 1,048,785 — — (1,048,785) — Investments 865,252 — — (865,252) — Right of use asset 46 1,733 3,948 (54) 5,673 Other assets 8,107 9,094 9,441 — 26,642 Total assets $ 1,934,591 $ 1,612,326 $ 466,673 $ (1,923,538) $ 2,090,052 December 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 12,259 $ 61,002 $ 18,511 $ (7,291) $ 84,481 Accrued liabilities 28,003 14,024 6,691 (2,156) 46,562 Current operating lease liability 20 1,009 2,407 (6) 3,430 Current portion of long-term debt 108,200 — — — 108,200 Current portion of other long-term liabilities 3,003 7,313 7,060 — 17,376 Total current liabilities 151,485 83,348 34,669 (9,453) 260,049 Intercompany debt — 1,047,599 1,186 (1,048,785) — Long-term debt less debt issuance costs 646,716 — 16,500 — 663,216 Non-current derivative liability 27 — — — 27 Operating lease liability 25 690 1,404 (48) 2,071 Other long-term liabilities 12,553 74,662 8,126 — 95,341 Deferred income taxes 68,150 (54,437) — — 13,713 Total shareholders' equity 1,055,635 460,464 404,788 (865,252) 1,055,635 Total liabilities and shareholders’ equity $ 1,934,591 $ 1,612,326 $ 466,673 $ (1,923,538) $ 2,090,052
Condensed Consolidating Statements of Operations (Unaudited)	Condensed Consolidating Statements of Operations (Unaudited) 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) Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Revenues $ — $ 144,294 $ 70,509 $ (25,112) $ 189,691 Expenses: Operating costs — 71,393 56,129 (24,052) 103,470 Depreciation, depletion, and amortization 1,934 48,466 11,726 — 62,126 General and administrative — 9,741 — — 9,741 (Gain) loss on disposition of assets (10) 1,667 (42) — 1,615 Total operating costs 1,924 131,267 67,813 (24,052) 176,952 Income (loss) from operations (1,924) 13,027 2,696 (1,060) 12,739 Interest, net (8,202) — (336) — (8,538) Loss on derivatives (6,932) — — — (6,932) Other, net 5 — — — 5 Income (loss) before income taxes (17,053) 13,027 2,360 (1,060) (2,726) Income tax expense (benefit) (3,699) 3,255 — — (444) Equity in net earnings from investment in subsidiaries, net of taxes 9,850 — — (9,850) — Net income (loss) (3,504) 9,772 2,360 (10,910) (2,282) Less: net income attributable to non-controlling interest — — 1,222 — 1,222 Net income (loss) attributable to Unit Corporation $ (3,504) $ 9,772 $ 1,138 $ (10,910) $ (3,504)
Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited)	Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited) Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net loss $ (803,674) $ (724,188) $ (66,366) $ 790,554 $ (803,674) Other comprehensive loss, net of taxes: Unrealized gain on securities, net of tax of $0 — — — — — Comprehensive loss (803,674) (724,188) (66,366) 790,554 (803,674) Less: Comprehensive loss attributable to non-controlling interests (33,180) — (33,180) 33,180 (33,180) Comprehensive loss attributable to Unit Corporation $ (770,494) $ (724,188) $ (33,186) $ 757,374 $ (770,494) Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net income (loss) $ (3,504) $ 9,772 $ 2,360 $ (10,910) $ (2,282) Other comprehensive income (loss), net of taxes: Unrealized income on securities, net of tax of $7 — 24 — — 24 Comprehensive income (loss) (3,504) 9,796 2,360 (10,910) (2,258) Less: Comprehensive income attributable to non-controlling interests — — 1,222 — 1,222 Comprehensive income (loss) attributable to Unit Corporation $ (3,504) $ 9,796 $ 1,138 $ (10,910) $ (3,480)
Condensed Consolidating Statements of Cash Flows (Unaudited)	Condensed Consolidating Statements of Cash Flows (Unaudited) 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 Three Months Ended March 31, 2019 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 3,548 $ 64,168 $ 13,506 $ (34) $ 81,188 INVESTING ACTIVITIES: Capital expenditures (321) (110,089) (12,097) — (122,507) Producing properties and other acquisitions — (1,580) — — (1,580) Proceeds from disposition of assets 10 3,142 38 — 3,190 Net cash used in investing activities (311) (108,527) (12,059) — (120,897) FINANCING ACTIVITIES: Borrowings under credit agreement 106,900 — 2,900 — 109,800 Payments under credit agreement (66,900) — (2,900) — (69,800) Intercompany borrowings (advances), net (43,103) 44,407 (1,338) 34 — Net payments on finance leases — — (985) — (985) Employee taxes paid by withholding shares (4,110) — — — (4,110) Distributions to non-controlling interest 919 — (1,837) — (918) Bank overdrafts 3,161 — — — 3,161 Net cash provided by (used in) financing activities (3,133) 44,407 (4,160) 34 37,148 Net increase (decrease) in cash and cash equivalents 104 48 (2,713) — (2,561) Cash and cash equivalents, beginning of period 403 208 5,841 — 6,452 Cash and cash equivalents, end of period $ 507 $ 256 $ 3,128 $ — $ 3,891

Liquidity and Ability to Cont_2

Liquidity and Ability to Continue as a Going Concern (Details) - USD ($) $ in Thousands	May 22, 2020	Mar. 31, 2020	May 26, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Cash and cash equivalents		$ 40,994		$ 571	$ 3,891	$ 6,452
Management's plans to alleviate the substantial doubt about going concern		Besides entering into the RSA and the DIP credit agreement, the company is undertaking several actions to alleviate the conditions that cause substantial doubt about our ability to continue as a going concern, including (i) minimizing capital expenditures, (ii) aggressively managing working capital, (iii) further reducing recurring operating expenses, and (iv) exploring potential business transactions.
Subsequent Event [Member]
Petition date	May 22, 2020
Bankruptcy Proceedings, Court Where Petition Was Filed	United States Bankruptcy Court for the Southern District of Texas, Houston Division
Business Exit Costs	$ 180,000
Subsequent Event [Member] | Reserve-based lending revolving loan [Member]
Business Exit Costs	140,000
Subsequent Event [Member] | Term loan [Member]
Business Exit Costs	$ 40,000
Common Stock [Member] | Subsequent Event [Member]
Percentage of New Common Shares of the Reorganized Company	12.50%
6.625% Senior Subordinated Notes Due 2021 [Member] | Subsequent Event [Member]
Percentage of Holders of Debtors Agreed under Restructuring Support Agreement	70.00%
Unit Credit Agreement [Member] | Subsequent Event [Member]
Percentage of Lenders Agreed Under Restructuring Support Agreement	100.00%
Additional Line of Credit Drawn	$ 8,000
Unit Credit Agreement [Member] | Line Of Credit Facility Commitment Amount [Member]
Credit facility current credit amount		$ 200,000
DIP credit facility [Member] | Subsequent Event [Member]
Percentage of Equity Allocated to Holders of Debtors	5.00%
Debtor-in-Possession Financing, Amount Arranged	$ 36,000		$ 18,000

Property, Plant, and Equipment

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Future discounted net cash flows discounted	10.00%
Capitalized costs of unproved properties included in amortization, cumulative	$ 226,500
Loss on abandonment of assets	17,554	$ 0
Oil and Natural Gas [Member]
Property, Plant and Equipment [Line Items]
Impairment of Oil and Gas Properties	267,800	$ 0
Loss on abandonment of assets	17,600
Mid-Stream [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	64,000
BOSS drilling rigs [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Carrying value of asset group	242,500
SCR drilling rigs [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	407,100
Other drilling equipment [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 3,000

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Contract liability	$ 6,343	$ 7,061
Mid-Stream [Member]
Disaggregation of Revenue [Line Items]
Contract assets	11,395	12,921
Change in contract assets	(1,526)
Contract liability	6,343	7,061
Change in contract liabilities	(718)
Contract asset (liabilities), net	5,052	$ 5,860
Change in contract assets (liabilities)	$ (808)

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Revenue, Remaining Performance Obligation) (Details) - Mid-Stream [Member] $ in Thousands	Mar. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Term of Contract	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Term of Contract	9 years
Demand fee contracts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	$ (5,052)
Demand fee contracts [Member] | April - December 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	(2,967)
Demand fee contracts [Member] | 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	(3,501)
Demand fee contracts [Member] | 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	1,380
Demand fee contracts [Member] | 2023 and beyond
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	$ 36

Revenue from Contracts with C_4

Revenue from Contracts with Customer (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)contract
Unit Credit Agreement [Member]
Segment Reporting Information [Line Items]
Commitment fee percentage under credit facility	0.375%
Origination, agency and syndication and other related fees with the credit agreement | $	$ 3.3
Drilling [Member]
Segment Reporting Information [Line Items]
Number of Contracts, Daywork | contract	6
Drilling [Member] | Short-term Contract with Customer [Member]
Segment Reporting Information [Line Items]
Contract Duration	2 months
Drilling [Member] | Long-term Contract with Customer [Member]
Segment Reporting Information [Line Items]
Contract Duration	2 years

Divestitures (Narrative) (Detai

Divestitures (Narrative) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)rig
Segment Reporting Information [Line Items]
Assets held for sale	$ 0		$ 5,908
Oil and Natural Gas [Member]
Segment Reporting Information [Line Items]
Proceeds from non-core oil and natural gas asset sales, net of related expenses	$ 600	$ 600
Drilling [Member]
Segment Reporting Information [Line Items]
Reclassification from held-for-sale back to held and use			$ 10,800
Number of drilling rigs in assets held for sale | rig			7

Loss Per Share (Schedule of Los

Loss Per Share (Schedule of Loss Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings (loss) of basic income (loss) attributable to Unit Corporation per common share	$ (770,494)	$ (3,504)
Income of effect of dilutive stock options and restricted stock	0	0
Earnings (loss) of diluted income (loss) attributable to Unit Corporation per common share	$ (770,494)	$ (3,504)
Weighted shares of basic earnings (loss) attributable to Unit Corporation per common share	53,131	52,557
Weighted shares of effect of dilutive stock options and restricted stock	0	0
Weighted shares of diluted earnings (loss) attributable to Unit Corporation per common share	53,131	52,557
Per-Share amount of basic earnings (loss) attributable to Unit Corporation per common share	$ (14.50)	$ (0.07)
Per-Share amount of effect of dilutive stock options and restricted stock	0	0
Per-Share amount of diluted earnings (loss) attributable to Unit Corporation per common share	$ (14.50)	$ (0.07)

Loss Per Share (Schedule of Ant

Loss Per Share (Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share) (Details) - Stock options [Member] - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share	42,000	56,000
Average exercise price	$ 48.56	$ 44.73

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued Liabilities [Abstract]
Interest payable	$ 17,171	$ 6,562
Employee costs	8,093	17,832
Lease operating expenses	8,127	9,200
Taxes	3,141	3,450
Third-party credits	2,292	3,691
Other	3,006	5,827
Total accrued liabilities	$ 41,830	$ 46,562

Long-Term Debt And Other Long_3

Long-Term Debt And Other Long-Term Liabilities (Long-Term Debt) (Details) - USD ($) $ in Thousands		Mar. 31, 2020		Dec. 31, 2019
Current portion of long-term debt:
Total current portion of long-term debt	[1]	$ 771,283		$ 108,200
Long-term debt:
Long-term debt		37,000	[1]	663,216	[2]
Current portion of long-term debt
Current portion of long-term debt:
Total principal amount		774,000		108,200
Less: unamortized discount		(801)		0
Less: debt issuance costs, net		(1,916)		0
Total current portion of long-term debt		771,283		108,200
Long-term Debt
Current portion of long-term debt:
Total principal amount		37,000		666,500
Less: unamortized discount		0		(971)
Less: debt issuance costs, net		0		(2,313)
Long-term debt:
Long-term debt		37,000		663,216
Senior Subordinated Notes | Current portion of long-term debt
Current portion of long-term debt:
6.625% senior subordinated notes due 2021		650,000		0
Senior Subordinated Notes | Long-term Debt
Current portion of long-term debt:
6.625% senior subordinated notes due 2021		$ 0		$ 650,000
Unit Credit Agreement [Member]
Long-term debt:
Revolving credit facility interest rate		2.90%		4.00%
Unit Credit Agreement [Member] | Current portion of long-term debt
Current portion of long-term debt:
Unit credit agreement with an average interest rate of 2.9% and 4.0% at March 31, 2020 and December 31, 2019, respectively		$ 124,000		$ 108,200
Superior Credit Agreement [Member]
Long-term debt:
Revolving credit facility interest rate		2.74%		3.90%
Superior Credit Agreement [Member] | Long-term Debt
Long-term debt:
Superior credit agreement with an average interest rate of 2.7% and 3.9% at March 31, 2020 and December 31, 2019, respectively		$ 37,000		$ 16,500
[1]	As of March 31, 2020, the current portion of long-term debt is net of debt issuance costs. As of December 31, 2019, the long-term debt is net of debt issuance costs. See Note 8 – Long-Term Debt and Other Long-Term Liabilities.
[2]	Unit Corporation's consolidated total assets as of March 31, 2020 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $46.7 million and $360.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2020 include total current and long-term liabilities of the VIE of $25.8 million and $42.9 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. Unit Corporation's consolidated total assets as of December 31, 2019 include total current and long-term assets of the VIE of $28.8 million and $434.3 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2019 include total current and long-term liabilities of the VIE of $32.2 million and $26.0 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 16 – Variable Interest Entity Arrangements.

Long-Term Debt And Other Long_4

Long-Term Debt And Other Long-Term Liabilities (Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Asset retirement obligation (ARO) liability	$ 63,819	$ 66,627	$ 67,840	$ 64,208
Workers' compensation	11,178	11,510
Finance lease obligations	6,354	7,379
Contract liability	6,343	7,061
Separation benefit plans	9,719	10,122
Deferred compensation plan	5,303	6,180
Gas balancing liability	3,838	3,838
Other liabilities	106,554	112,717
Current portion of other long-term liabilities	18,317	17,376
Other long-term liabilities	$ 88,237	$ 95,341

Long-Term Debt And Other Long_5

Long-Term Debt And Other Long-Term Liabilities (Narrative) (Details) - USD ($) $ in Thousands	May 15, 2020	May 02, 2018	Mar. 31, 2020	May 26, 2020	May 22, 2020
Debt Instrument [Line Items]
Present worth discounted			10.00%
Estimated principal payments in year 1			$ 792,300
Estimated principal payments in year 2			5,100
Estimated principal payments in year 3			3,500
Estimated principal payments in year 4			39,500
Estimated principal payments in year 5			2,400
Subsequent Event [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Interest	$ 21,500
6.625% Senior Subordinated Notes Due 2021 [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 650,000
Interest percentage of senior subordinated notes			6.625%
Debt instrument maturity date			May 15, 2021
Payment of Financing and Stock Issuance Costs			$ 14,700
Unit Credit Agreement [Member]
Debt Instrument [Line Items]
Commitment fee percentage under credit facility			0.375%
Origination, agency and syndication and other related fees with the credit agreement			$ 3,300
Payable assessment term for LIBOR			90 days
LIBOR interest rate plus one percent			LIBOR plus 1.00% plus a margin
Unit Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Additional Line of Credit Drawn					$ 8,000
Unit Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
LIBOR plus interest rate			1.50%
Unit Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
LIBOR plus interest rate			2.50%
Unit Credit Agreement [Member] | Line Of Credit Facility Commitment Amount [Member]
Debt Instrument [Line Items]
Credit facility current credit amount			$ 200,000
Unit Credit Agreement [Member] | Line Of Credit Facility Lender Determined Amount [Member]
Debt Instrument [Line Items]
Credit facility current credit amount			$ 200,000
Unit Credit Agreement [Member] | Proved developed producing total value of our oil and gas properties [Member]
Debt Instrument [Line Items]
Percentage of collateral pledged			80.00%
Present worth discounted			8.00%
Superior Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility maximum credit amount			$ 250,000
Credit facility current credit amount			$ 200,000
Commitment fee percentage under credit facility			0.375%
Origination, agency and syndication and other related fees with the credit agreement			$ 1,700
Covenant Compliance			As of March 31, 2020, Superior complied with these covenants.
Superior Credit Agreement, Term			5 years
Superior Credit Agreement, Interest Rate Description			annual interest at a rate, at Superior’s option, equal to (a) LIBOR plus the applicable margin of 2.00% to 3.25% or (b) the alternate base rate (greater of (i) the federal funds rate plus 0.5%, (ii) the prime rate, and (iii) third day LIBOR plus 1.00%) plus the applicable margin of 1.00% to 2.25%.
Superior Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Consolidated EBITDA to interest expense ratio			2.50 to 1.00
Superior Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Funded debt to consolidated EBITDA ratio			4.00 to 1.00
DIP credit facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debtor-in-Possession Financing, Amount Arranged				$ 18,000	$ 36,000
Pledge agreement [Member] | Unit Credit Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Collateral		we granted a security interest in the limited liability membership interests and other equity interests we own in Superior (which as of this report is 50% of the aggregate outstanding equity interests of Superior)

Asset Retirement Obligations (S

Asset Retirement Obligations (Schedule Of Asset Retirement Obligations) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
ARO liability, January 1:		$ 66,627	$ 64,208
Accretion of discount		(596)	(562)
Liability incurred		314	3,116
Liability settled		(319)	(1,636)
Liability sold		(15)	(549)
Revision of estimates	[1]	(3,384)	2,139
ARO liability, March 31:		63,819	67,840
Less: current portion		1,470	1,742
Total long-term ARO		$ 62,349	$ 66,098
[1]	Plugging liability estimates were revised in both 2020 and 2019 for updates in the cost of services used to plug wells over the preceding year. We had various upward and downward adjustments.

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Restricted Stock Awards and Stock Options) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Abstract]
Recognized stock compensation expense	$ 2,500	$ 3,800
Capitalized stock compensation cost for our oil and natural gas properties	0	600
Tax benefit on stock based compensation	$ 600	$ 900

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule of Fair Value of the Restricted Stock Awards Granted During the Periods) (Details) - Restricted Stock [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)shares
Time Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	925,673
Estimated fair value (in millions) | $	$ 14,600	[1]
Time Vested [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	925,673
Estimated fair value (in millions) | $	$ 14,600	[1]
Percentage of shares granted expected to be distributed	95.00%
Time Vested [Member] | Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	0
Estimated fair value (in millions) | $	$ 0	[1]
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	424,070
Estimated fair value (in millions) | $	$ 7,100	[1]
Performance Shares [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	424,070
Estimated fair value (in millions) | $	$ 7,100	[1]
Percentage of shares granted expected to be distributed	64.00%
Performance Shares [Member] | Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	0
Estimated fair value (in millions) | $	$ 0	[1]
[1]	The performance shares represent 100% of the grant date fair value. (We recognize the grant date fair value minus estimated forfeitures.)

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	May 06, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested awards	$ 8.2
Weighted average years over which this cost will be recognized	1 year 3 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			7,230,000
Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			2,000,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	0	0
Stock Performance Measures [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	0.00%
Stock Performance Measures [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	200.00%
Cash flow to total assets performance [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	0.00%
Cash flow to total assets performance [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	200.00%
Cash flow to total assets performance [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	100.00%
Time Vested [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Shares granted		925,673
Performance Shares [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		424,070
Performance Shares [Member] | Cash flow to total assets performance [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Cliff vest [Member] | Performance Shares [Member] | Stock Performance Measures [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
2019 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	2.00%
2018 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance percentage criteria	29.00%

Derivatives (Schedule of Deriva

Derivatives (Schedule of Derivatives Outstanding) (Details) - Natural Gas [Member]	3 Months Ended
	Mar. 31, 2020$ / UnitMMBTU
Basis swap [Member] | Apr'20 - Dec'20 [Member] | PEPL [Member]
Derivative [Line Items]
Weighted average price	(0.455)
Hedged volume (MMBtu/day) | MMBTU	20,000
Basis swap [Member] | Apr'20 - Dec'20 [Member] | NGPL Texok [Member]
Derivative [Line Items]
Weighted average price	(0.275)
Hedged volume (MMBtu/day) | MMBTU	30,000
Basis swap [Member] | Jan'21 - Dec'21 [Member] | NGPL Texok [Member]
Derivative [Line Items]
Weighted average price	(0.215)
Hedged volume (MMBtu/day) | MMBTU	30,000
Three-way collar [Member] | Apr'20 - Dec'20 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	30,000
Cap Price	2.80
Subfloor price	2.2
Floor Price	2.5

Derivatives (Fair Value of Deri

Derivatives (Fair Value of Derivative Instruments and Locations in Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current derivative asset	$ 661	$ 633
Non-current derivative asset	0	0
Total derivatives assets	661	633
Current derivative liability	0	0
Non-current derivative liability	123	27
Derivative Liability, Total	$ 123	$ 27

Derivatives (Effect of Derivati

Derivatives (Effect of Derivative Instruments Recognized in Income Statements, Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 483	$ (6,932)
Cash receipts on derivatives settled	551	2,656
Gain (loss) on derivatives [Member] | Commodity Derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 483	$ (6,932)

Fair Value Measurements (Recurr

Fair Value Measurements (Recurring Fair Value Measurements) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	$ 661	$ 633
Derivative Liability	(123)	(27)
Commodity Derivatives [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	661	633
Derivative Liability	(123)	(27)
Financial assets (liabilities)	538	606
Commodity Derivatives [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross Assets	189	177
Gross Liabilities	(599)	(775)
Financial assets (liabilities)	(410)	(598)
Commodity Derivatives [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross Assets	948	1,204
Gross Liabilities	0	0
Financial assets (liabilities)	948	1,204
Commodity Derivatives [Member] | Effect of Netting [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Effect of netting on assets	(476)	(748)
Effect of netting on liabilities	476	748
Financial assets (liabilities)	$ 0	$ 0

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliations Of Level 3 Fair Value Measurements) (Details) - Level 3 [Member] - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning of period		$ 1,204	$ 10,630
Included in earnings	[1]	563	(5,434)
Settlements		(819)	(2,116)
End of period		948	3,080
Total losses for the period included in earnings attributable to the change in unrealized gain relating to assets still held at end of period		$ (256)	$ (7,550)
[1]	Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Quantitative Information About Unobservable Inputs) (Details) - Natural Gas [Member] - Level 3 [Member] - Three-way collar [Member] $ in Thousands	Mar. 31, 2020USD ($)$ / Unit
Derivative fair value | $	$ 948	[1]
Minimum [Member]
Forward commodity price curve	0
Maximum [Member]
Forward commodity price curve	0.86
[1]	The commodity contracts detailed in this category include non-exchange-traded natural gas three-way collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral posted	$ 0
6.625% senior subordinated notes due 2021	647,300	$ 646,700
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of long-term debt	$ 65,900	$ 357,500

Leases (Supplemental cash flow

Leases (Supplemental cash flow information related to leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating cash flows for operating leases	$ 1,333	$ 577
Financing cash flows for finance leases	1,025	985
Lease liabilities recognized in exchange for new operating lease right of use assets	$ 0	$ 5

Leases (Schedule of lease asset

Leases (Schedule of lease assets and liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating right of use asset	$ 6,937	$ 5,673
Finance right of use assets	16,926	17,396
Total right of use assets	23,863	23,069
Current operating lease liability	4,128	3,430
Current finance lease liability	5,852	4,164
Operating lease liability	2,639	2,071
Finance lease liability	502	3,215
Total lease liability	$ 13,121	$ 12,880

Leases (Schedule of lease costs

Leases (Schedule of lease costs) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Amortization of finance leased assets		$ 1,025	$ 985
Interest on finance lease liabilities		70	111
Operating lease cost		1,244	598
Short-term lease cost	[1]	3,991	9,974
Variable lease cost		82	106
Total lease cost		6,412	11,774
Capitalized costs included in short-term lease costs		$ 1,000	$ 5,700
[1]	Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $1.0 million and $5.7 million for the first three months of 2020 and 2019, respectively.

Leases (Schedule of weighted av

Leases (Schedule of weighted average discount rate for leases) (Details)	Mar. 31, 2020
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	1 year 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	6.31%	[1]
Finance Lease, Weighted Average Remaining Lease Term	1 year 4 months 24 days
Finance Lease, Weighted Average Discount Rate, Percent	4.00%	[1]
[1]	Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.

Leases (Operating leases) (Deta

Leases (Operating leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Ending with April 1,
2021	$ 4,425
2022	2,356
2023	296
2024	29
2025	12
2026 and beyond	72
Total future payments	7,190
Less: Interest	423
Present value of future minimum operating lease payments	6,767
Less: current portion	(4,128)	$ (3,430)
Operating lease liability	$ 2,639	$ 2,071

Leases (Finance leases) (Detail

Leases (Finance leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Ending April 1,
2021	$ 7,841
2022	579
Total future payments	8,420
Less payments related to:
Maintenance	1,884
Interest	182
Present value of future minimum finance lease payments	6,354	$ 7,379
Less: Current portion	(5,852)	(4,164)
Total long-term finance lease payments	$ 502	$ 3,215

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)rig	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Adoption of ASC842 [Line Items]
Average working interest in operated properties	95.00%
Operating right of use asset	$ 6,937	$ 5,673
Total operating lease liability	$ 6,767
Number of compressors under finance lease agreement | rig	20
Finance lease term	7 years
Finance Lease Obligations, Current	$ 5,900
Finance Lease Obligations, Noncurrent	$ 500
Discount rate finance leases	4.00%
Maintenance	$ 1,884
Interest	182
Finance leases, future minimum payments, average annual payment	$ 4,500
Finance lease fair market value percentage for purchase	10.00%
Accounting Standards Update 2016-02 [Member]
Adoption of ASC842 [Line Items]
Operating right of use asset			$ 3,700
Total operating lease liability			$ 3,500

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Mid-Stream [Member]
Long-term Purchase Commitment [Line Items]
Other Commitment, Due in Next Twelve Months	$ 600
Other Commitment, Due in Second and Third Year	$ 600
Capital Addition Purchase Commitments [Member] | Oil and Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Description	as part of the Superior transaction, we entered into a contractual obligation that commits us to spend $150.0 million to drill wells in the Granite Wash/Buffalo Wallow area over three years starting January 1, 2019. This amount is included in our future drilling plans. For each dollar of the $150.0 million we do not spend (over the three-year period), we would forgo receiving $0.58 of future distributions from our 50% ownership interest in our consolidated mid-stream subsidiary. At March 31, 2020, if we elected not to drill or spend any additional money in the designated area before December 31, 2021, the maximum amount we could forgo from distributions would be $72.7 million.
Long-term purchase commitment, purchases made	$ 24,700

Variable Interest Entity Arra_3

Variable Interest Entity Arrangements (Schedule of Assets and Liabilities) (Details) - USD ($) $ in Thousands		Mar. 31, 2020		Dec. 31, 2019		Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 40,994		$ 571		$ 3,891	$ 6,452
Accounts receivable, net of allowance for doubtful accounts		54,379		82,656
Prepaid expenses and other		13,754		13,078
Total current assets		112,875		105,051
Property and equipment:
Gas gathering and processing equipment		829,600		824,699
Transportation equipment		27,515		29,723
Property, plant, and equipment, gross		8,913,365		8,931,355
Less accumulated depreciation, depletion, amortization, and impairment		7,768,310		6,978,669
Net property and equipment		1,145,055		1,952,686
Operating right of use asset		6,937		5,673
Other assets		22,976		26,642
Total assets	[1]	1,287,843		2,090,052
Current liabilities:
Accounts payable		58,595		84,481
Accrued liabilities		41,830		46,562
Current operating lease liability		4,128		3,430
Current portion of other long-term liabilities		18,317		17,376
Total current liabilities		894,153		260,049
Long-term debt		37,000	[2]	663,216	[1]
Operating lease liability		2,639		2,071
Other long-term liabilities		88,237		95,341
VIE [Member]
Current assets:
Cash and cash equivalents		23,900		0
Accounts receivable, net of allowance for doubtful accounts		15,305		21,073
Prepaid expenses and other		7,473		7,686
Total current assets		46,678		28,759
Property and equipment:
Gas gathering and processing equipment		829,600		824,699
Transportation equipment		3,397		3,390
Property, plant, and equipment, gross		832,997		828,089
Less accumulated depreciation, depletion, amortization, and impairment		483,205		407,144
Net property and equipment		349,792		420,945
Operating right of use asset		3,227		3,948
Other assets		7,651		9,442
Total assets		407,348		463,094
Current liabilities:
Accounts payable		12,013		18,511
Accrued liabilities		3,064		4,198
Current operating lease liability		1,961		2,407
Current portion of other long-term liabilities		8,765		7,060
Total current liabilities		25,803		32,176
Long-term debt		37,000		16,500
Operating lease liability		1,131		1,404
Other long-term liabilities		4,782		8,126
Total liabilities		$ 68,716		$ 58,206
[1]	Unit Corporation's consolidated total assets as of March 31, 2020 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $46.7 million and $360.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2020 include total current and long-term liabilities of the VIE of $25.8 million and $42.9 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. Unit Corporation's consolidated total assets as of December 31, 2019 include total current and long-term assets of the VIE of $28.8 million and $434.3 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2019 include total current and long-term liabilities of the VIE of $32.2 million and $26.0 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 16 – Variable Interest Entity Arrangements.
[2]	As of March 31, 2020, the current portion of long-term debt is net of debt issuance costs. As of December 31, 2019, the long-term debt is net of debt issuance costs. See Note 8 – Long-Term Debt and Other Long-Term Liabilities.

Variable Interest Entity Arra_4

Variable Interest Entity Arrangements (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Variable Interest Entity [Line Items]
Methodology for Determining Whether Entity is Primary Beneficiary	The two variable interests applicable to Unit include the 50% equity investment in Superior and the MSA. The MSA gives us the power to direct the activities that most significantly affect Superior's operating performance. The MSA is a separate variable interest. Unit through the MSA has the power to direct Superior’s most significant activities; reciprocally the equity investors lack the power to direct the activities that most affect the entity’s economic performance. Because of this, Unit is considered the primary beneficiary.
Superior Pipeline Company, L.L.C. [Member]
Variable Interest Entity [Line Items]
Date Involvement Began	Apr. 3, 2018
Lack of Recourse	Superior's creditors have no recourse to our general credit.
SP Investor Holdings, LLC [Member] | Superior Pipeline Company, L.L.C. [Member]
Variable Interest Entity [Line Items]
Ownership Percentage	50.00%
SPC Midstream Operating, L.L.C. [Member] | Superior Pipeline Company, L.L.C. [Member]
Variable Interest Entity [Line Items]
Monthly service fee	$ 260,560

Industry Segment Information (I

Industry Segment Information (Industry Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020		Mar. 31, 2019
Revenues:
Revenues	$ 122,376		$ 189,691
Operating costs:
Operating costs	83,723		103,470
Depreciation, depletion, and amortization	61,617		62,126
Impairments	741,924		0
Total expenses	887,264		165,596
Loss on abandonment of assets	17,554		0
General and administrative	11,553		9,741
(Gain) loss on disposition of assets	390		1,615
Income (loss) from operations	(794,385)		12,739
Gain (loss) on derivatives	483		(6,932)
Interest, net	(13,257)		(8,538)
Other	60		5
Income (loss) before income taxes	(807,099)		(2,726)
Oil and Natural Gas [Member]
Revenues:
Revenues	48,524		86,095
Operating costs:
Operating costs	31,415		34,008
Depreciation, depletion, and amortization	36,728		35,767
Impairments	267,836
Total expenses	335,979		69,775
Loss on abandonment of assets	17,554
General and administrative	0		0
(Gain) loss on disposition of assets	(13)		(79)
Income (loss) from operations	(304,996)		16,399
Gain (loss) on derivatives	0		0
Interest, net	0		0
Other	18		0
Income (loss) before income taxes	(304,978)		16,399
Drilling [Member]
Revenues:
Revenues	36,632		58,199
Operating costs:
Operating costs	25,449		37,385
Depreciation, depletion, and amortization	11,745		12,699
Impairments	410,126
Total expenses	447,320		50,084
Loss on abandonment of assets	0
General and administrative	0		0
(Gain) loss on disposition of assets	409		1,746
Income (loss) from operations	(411,097)		6,369
Gain (loss) on derivatives	0		0
Interest, net	0		0
Other	17		0
Income (loss) before income taxes	(411,080)		6,369
Mid-Stream [Member]
Revenues:
Revenues	42,680		70,509
Operating costs:
Operating costs	32,319		56,129
Depreciation, depletion, and amortization	12,273		11,726
Impairments	63,962
Total expenses	108,554		67,855
Loss on abandonment of assets	0
General and administrative	0		0
(Gain) loss on disposition of assets	(6)		(42)
Income (loss) from operations	(65,868)		2,696
Gain (loss) on derivatives	0		0
Interest, net	(518)		(336)
Other	18		0
Income (loss) before income taxes	(66,368)		2,360
Corporate and Other [Member]
Revenues:
Revenues	0		0
Operating costs:
Operating costs	0		0
Depreciation, depletion, and amortization	871		1,934
Impairments	0
Total expenses	871		1,934
Loss on abandonment of assets	0
General and administrative	11,553		9,741
(Gain) loss on disposition of assets	0		(10)
Income (loss) from operations	(12,424)		(11,665)
Gain (loss) on derivatives	483		(6,932)
Interest, net	(12,739)		(8,202)
Other	7		5
Income (loss) before income taxes	(24,673)		(26,794)
Eliminations [Member]
Revenues:
Revenues	(5,460)		(25,112)
Operating costs:
Operating costs	(5,460)		(24,052)
Depreciation, depletion, and amortization	0		0
Impairments	0
Total expenses	(5,460)		(24,052)
Loss on abandonment of assets	0
General and administrative	0		0
(Gain) loss on disposition of assets	0		0
Income (loss) from operations	0		(1,060)
Gain (loss) on derivatives	0		0
Interest, net	0		0
Other	0		0
Income (loss) before income taxes	0		(1,060)
Oil and natural gas
Revenues:
Revenues	48,522		86,095
Operating costs:
Operating costs	30,663		32,714
Oil and natural gas | Oil and Natural Gas [Member]
Revenues:
Revenues	48,524	[1]	86,095	[2]
Operating costs:
Operating costs	31,415		34,008
Oil and natural gas | Drilling [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Oil and natural gas | Mid-Stream [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Oil and natural gas | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Oil and natural gas | Eliminations [Member]
Revenues:
Revenues	(2)	[1]	0	[2]
Operating costs:
Operating costs	(752)		(1,294)
Contract drilling
Revenues:
Revenues	36,632		51,155
Operating costs:
Operating costs	25,449		31,401
Contract drilling | Oil and Natural Gas [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Contract drilling | Drilling [Member]
Revenues:
Revenues	36,632	[1]	58,199	[2]
Operating costs:
Operating costs	25,449		37,385
Contract drilling | Mid-Stream [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Contract drilling | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Contract drilling | Eliminations [Member]
Revenues:
Revenues	0	[1]	(7,044)	[2]
Operating costs:
Operating costs	0		(5,984)
Gas gathering and processing
Revenues:
Revenues	37,222		52,441
Operating costs:
Operating costs	27,611		39,355
Gas gathering and processing | Oil and Natural Gas [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Gas gathering and processing | Drilling [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Gas gathering and processing | Mid-Stream [Member]
Revenues:
Revenues	42,680	[1]	70,509	[2]
Operating costs:
Operating costs	32,319		56,129
Gas gathering and processing | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0	[2]
Operating costs:
Operating costs	0		0
Gas gathering and processing | Eliminations [Member]
Revenues:
Revenues	(5,458)	[1]	(18,068)	[2]
Operating costs:
Operating costs	$ (4,708)		$ (16,774)
[1]	The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.
[2]	The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.

Supplemental Condensed Consol_3

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands		Mar. 31, 2020		Dec. 31, 2019		Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 40,994		$ 571		$ 3,891	$ 6,452
Accounts receivable, net of allowance for doubtful accounts		54,379		82,656
Materials and supplies		414		449
Current derivative asset		661		633
Current income taxes receivable		2,673		1,756
Assets held for sale		0		5,908
Prepaid expenses and other		13,754		13,078
Total current assets		112,875		105,051
Oil and natural gas properties on the full cost method:
Proved properties		6,565,136		6,341,582
Unproved properties not being amortized		31,538		252,874
Drilling equipment		1,298,626		1,295,713
Gas gathering and processing equipment		829,600		824,699
Saltwater disposal systems		43,831		69,692
Land and building		59,080		59,080
Transportation equipment		27,515		29,723
Other		58,039		57,992
Property, plant, and equipment, gross		8,913,365		8,931,355
Less accumulated depreciation, depletion, amortization, and impairment		7,768,310		6,978,669
Carrying value of BOSS drilling rigs		1,145,055		1,952,686
Intercompany receivable		0		0
Investments		0		0
Operating right of use asset		6,937		5,673
Other assets		22,976		26,642
Total assets	[1]	1,287,843		2,090,052
Current liabilities:
Accounts payable		58,595		84,481
Accrued liabilities		41,830		46,562
Current operating lease liability		4,128		3,430
Total current portion of long-term debt	[2]	771,283		108,200
Current portion of other long-term liabilities		18,317		17,376
Total current liabilities		894,153		260,049
Intercompany debt		0		0
Long-term debt		37,000	[2]	663,216	[1]
Non-current derivative liability		123		27
Operating lease liability		2,639		2,071
Other long-term liabilities		88,237		95,341
Deferred income taxes		11,205		13,713
Total shareholders' equity		254,486		1,055,635		1,595,859	1,593,444
Total liabilities and shareholders' equity	[1]	1,287,843		2,090,052
Consolidating Adjustments [Member]
Current assets:
Cash and cash equivalents		0		0		0	0
Accounts receivable, net of allowance for doubtful accounts		(4,805)		(9,447)
Materials and supplies		0		0
Current derivative asset		0		0
Current income taxes receivable		0		0
Assets held for sale				0
Prepaid expenses and other		0		0
Total current assets		(4,805)		(9,447)
Oil and natural gas properties on the full cost method:
Proved properties		0		0
Unproved properties not being amortized		0		0
Drilling equipment		0		0
Gas gathering and processing equipment		0		0
Saltwater disposal systems		0		0
Land and building		0		0
Transportation equipment		0		0
Other		0		0
Property, plant, and equipment, gross		0		0
Less accumulated depreciation, depletion, amortization, and impairment		0		0
Carrying value of BOSS drilling rigs		0		0
Intercompany receivable		(973,769)		(1,048,785)
Investments		(74,752)		(865,252)
Operating right of use asset		(53)		(54)
Other assets		0		0
Total assets		(1,053,379)		(1,923,538)
Current liabilities:
Accounts payable		(4,261)		(7,291)
Accrued liabilities		(545)		(2,156)
Current operating lease liability		(6)		(6)
Total current portion of long-term debt		0		0
Current portion of other long-term liabilities		0		0
Total current liabilities		(4,812)		(9,453)
Intercompany debt		(973,769)		(1,048,785)
Long-term debt		0		0
Non-current derivative liability		0		0
Operating lease liability		(46)		(48)
Other long-term liabilities		0		0
Deferred income taxes		0		0
Total shareholders' equity		(74,752)		(865,252)
Total liabilities and shareholders' equity		(1,053,379)		(1,923,538)
Parent [Member]
Current assets:
Cash and cash equivalents		17,008		503		507	403
Accounts receivable, net of allowance for doubtful accounts		1,670		2,645
Materials and supplies				0
Current derivative asset		661		633
Current income taxes receivable		2,673		1,756
Assets held for sale				0
Prepaid expenses and other		3,138		2,019
Total current assets		25,150		7,556
Oil and natural gas properties on the full cost method:
Proved properties		0		0
Unproved properties not being amortized		0		0
Drilling equipment		0		0
Gas gathering and processing equipment		0		0
Saltwater disposal systems		0		0
Land and building		0		0
Transportation equipment		9,713		9,712
Other		29,008		28,927
Property, plant, and equipment, gross		38,721		38,639
Less accumulated depreciation, depletion, amortization, and impairment		34,327		33,794
Carrying value of BOSS drilling rigs		4,394		4,845
Intercompany receivable		973,769		1,048,785
Investments		74,752		865,252
Operating right of use asset		39		46
Other assets		7,060		8,107
Total assets		1,085,164		1,934,591
Current liabilities:
Accounts payable		3,121		12,259
Accrued liabilities		30,735		28,003
Current operating lease liability		17		20
Total current portion of long-term debt		771,283		108,200
Current portion of other long-term liabilities		3,020		3,003
Total current liabilities		808,176		151,485
Intercompany debt		0		0
Long-term debt		0		646,716
Non-current derivative liability		123		27
Operating lease liability		20		25
Other long-term liabilities		11,154		12,553
Deferred income taxes		11,205		68,150
Total shareholders' equity		254,486		1,055,635
Total liabilities and shareholders' equity		1,085,164		1,934,591
Combined Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		81		68		256	208
Accounts receivable, net of allowance for doubtful accounts		40,119		64,805
Materials and supplies		414		449
Current derivative asset		0		0
Current income taxes receivable		0		0
Assets held for sale				5,908
Prepaid expenses and other		3,143		3,373
Total current assets		43,757		74,603
Oil and natural gas properties on the full cost method:
Proved properties		6,565,136		6,341,582
Unproved properties not being amortized		31,538		252,874
Drilling equipment		1,298,626		1,295,713
Gas gathering and processing equipment		0		0
Saltwater disposal systems		43,831		69,692
Land and building		59,080		59,080
Transportation equipment		14,405		16,621
Other		29,031		29,065
Property, plant, and equipment, gross		8,041,647		8,064,627
Less accumulated depreciation, depletion, amortization, and impairment		7,250,779		6,537,731
Carrying value of BOSS drilling rigs		790,868		1,526,896
Intercompany receivable		0		0
Investments		0		0
Operating right of use asset		3,724		1,733
Other assets		8,266		9,094
Total assets		846,615		1,612,326
Current liabilities:
Accounts payable		47,721		61,002
Accrued liabilities		7,585		14,024
Current operating lease liability		2,156		1,009
Total current portion of long-term debt		0		0
Current portion of other long-term liabilities		6,533		7,313
Total current liabilities		63,995		83,348
Intercompany debt		972,510		1,047,599
Long-term debt		0		0
Non-current derivative liability		0		0
Operating lease liability		1,533		690
Other long-term liabilities		72,301		74,662
Deferred income taxes		0		(54,437)
Total shareholders' equity		(263,724)		460,464
Total liabilities and shareholders' equity		846,615		1,612,326
Combined Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		23,905		0		$ 3,128	$ 5,841
Accounts receivable, net of allowance for doubtful accounts		17,395		24,653
Materials and supplies		0		0
Current derivative asset		0		0
Current income taxes receivable		0		0
Assets held for sale				0
Prepaid expenses and other		7,473		7,686
Total current assets		48,773		32,339
Oil and natural gas properties on the full cost method:
Proved properties		0		0
Unproved properties not being amortized		0		0
Drilling equipment		0		0
Gas gathering and processing equipment		829,600		824,699
Saltwater disposal systems		0		0
Land and building		0		0
Transportation equipment		3,397		3,390
Other		0		0
Property, plant, and equipment, gross		832,997		828,089
Less accumulated depreciation, depletion, amortization, and impairment		483,204		407,144
Carrying value of BOSS drilling rigs		349,793		420,945
Intercompany receivable		0		0
Investments		0		0
Operating right of use asset		3,227		3,948
Other assets		7,650		9,441
Total assets		409,443		466,673
Current liabilities:
Accounts payable		12,014		18,511
Accrued liabilities		4,055		6,691
Current operating lease liability		1,961		2,407
Total current portion of long-term debt		0		0
Current portion of other long-term liabilities		8,764		7,060
Total current liabilities		26,794		34,669
Intercompany debt		1,259		1,186
Long-term debt		37,000		16,500
Non-current derivative liability		0		0
Operating lease liability		1,132		1,404
Other long-term liabilities		4,782		8,126
Deferred income taxes		0		0
Total shareholders' equity		338,476		404,788
Total liabilities and shareholders' equity		$ 409,443		$ 466,673
[1]	Unit Corporation's consolidated total assets as of March 31, 2020 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $46.7 million and $360.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2020 include total current and long-term liabilities of the VIE of $25.8 million and $42.9 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. Unit Corporation's consolidated total assets as of December 31, 2019 include total current and long-term assets of the VIE of $28.8 million and $434.3 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2019 include total current and long-term liabilities of the VIE of $32.2 million and $26.0 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 16 – Variable Interest Entity Arrangements.
[2]	As of March 31, 2020, the current portion of long-term debt is net of debt issuance costs. As of December 31, 2019, the long-term debt is net of debt issuance costs. See Note 8 – Long-Term Debt and Other Long-Term Liabilities.

Supplemental Condensed Consol_4

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Balance Sheets - Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 2,332	$ 2,332
Common stock, shares issued	54,746,727	55,443,393
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 0	$ 0
Common stock, shares issued	0	0
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 1,216	$ 1,216
Common stock, shares issued	54,746,727	55,443,393
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 1,116	$ 1,116
Common stock, shares issued	0	0
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 0	$ 0
Common stock, shares issued	0	0

Supplemental Condensed Consol_5

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Statements of Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 122,376	$ 189,691
Expenses:
Operating costs	83,723	103,470
Depreciation, depletion, and amortization	61,617	62,126
Impairments	741,924	0
Loss on abandonment of assets	17,554	0
General and administrative	11,553	9,741
(Gain) loss on disposition of assets	390	1,615
Total operating costs	916,761	176,952
Income (loss) from operations	(794,385)	12,739
Interest, net	(13,257)	(8,538)
Gain (loss) on derivatives	483	(6,932)
Other, net	60	5
Income (loss) before income taxes	(807,099)	(2,726)
Income tax expense (benefit)	(3,425)	(444)
Equity in net earnings from investment in subsidiaries, net of taxes	0	0
Net loss	(803,674)	(2,282)
Less: net income (loss) attributable to non-controlling interest	(33,180)	1,222
Net loss attributable to Unit Corporation	(770,494)	(3,504)
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	(5,458)	(25,112)
Expenses:
Operating costs	(5,458)	(24,052)
Depreciation, depletion, and amortization	0	0
Impairments	0
Loss on abandonment of assets	0
General and administrative	0	0
(Gain) loss on disposition of assets	0	0
Total operating costs	(5,458)	(24,052)
Income (loss) from operations	0	(1,060)
Interest, net	0	0
Gain (loss) on derivatives	0	0
Other, net	0	0
Income (loss) before income taxes	0	(1,060)
Income tax expense (benefit)	0	0
Equity in net earnings from investment in subsidiaries, net of taxes	790,554	(9,850)
Net loss	790,554	(10,910)
Less: net income (loss) attributable to non-controlling interest	33,180	0
Net loss attributable to Unit Corporation	757,374	(10,910)
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	0	0
Expenses:
Operating costs	0	0
Depreciation, depletion, and amortization	871	1,934
Impairments	0
Loss on abandonment of assets	0
General and administrative	0	0
(Gain) loss on disposition of assets	0	(10)
Total operating costs	871	1,924
Income (loss) from operations	(871)	(1,924)
Interest, net	(12,739)	(8,202)
Gain (loss) on derivatives	483	(6,932)
Other, net	7	5
Income (loss) before income taxes	(13,120)	(17,053)
Income tax expense (benefit)	0	(3,699)
Equity in net earnings from investment in subsidiaries, net of taxes	(790,554)	9,850
Net loss	(803,674)	(3,504)
Less: net income (loss) attributable to non-controlling interest	(33,180)	0
Net loss attributable to Unit Corporation	(770,494)	(3,504)
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	85,154	144,294
Expenses:
Operating costs	56,864	71,393
Depreciation, depletion, and amortization	48,473	48,466
Impairments	677,962
Loss on abandonment of assets	17,554
General and administrative	11,553	9,741
(Gain) loss on disposition of assets	396	1,667
Total operating costs	812,802	131,267
Income (loss) from operations	(727,648)	13,027
Interest, net	0	0
Gain (loss) on derivatives	0	0
Other, net	35	0
Income (loss) before income taxes	(727,613)	13,027
Income tax expense (benefit)	(3,425)	3,255
Equity in net earnings from investment in subsidiaries, net of taxes	0	0
Net loss	(724,188)	9,772
Less: net income (loss) attributable to non-controlling interest	0	0
Net loss attributable to Unit Corporation	(724,188)	9,772
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	42,680	70,509
Expenses:
Operating costs	32,317	56,129
Depreciation, depletion, and amortization	12,273	11,726
Impairments	63,962
Loss on abandonment of assets	0
General and administrative	0	0
(Gain) loss on disposition of assets	(6)	(42)
Total operating costs	108,546	67,813
Income (loss) from operations	(65,866)	2,696
Interest, net	(518)	(336)
Gain (loss) on derivatives	0	0
Other, net	18	0
Income (loss) before income taxes	(66,366)	2,360
Income tax expense (benefit)	0	0
Equity in net earnings from investment in subsidiaries, net of taxes	0	0
Net loss	(66,366)	2,360
Less: net income (loss) attributable to non-controlling interest	(33,180)	1,222
Net loss attributable to Unit Corporation	$ (33,186)	$ 1,138

Supplemental Condensed Consol_6

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Statements of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net loss	$ (803,674)	$ (2,282)
Other comprehensive income (loss)	0	24
Comprehensive income (loss)	(803,674)	(2,258)
Less: Comprehensive income (loss) attributable to non-controlling interest	(33,180)	1,222
Comprehensive income (loss) attributable to Unit Corporation	(770,494)	(3,480)
Unrealized income (loss) on securities, tax	0	7
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Net loss	790,554	(10,910)
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	790,554	(10,910)
Less: Comprehensive income (loss) attributable to non-controlling interest	33,180	0
Comprehensive income (loss) attributable to Unit Corporation	757,374	(10,910)
Unrealized income (loss) on securities, tax	0	0
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net loss	(803,674)	(3,504)
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	(803,674)	(3,504)
Less: Comprehensive income (loss) attributable to non-controlling interest	(33,180)	0
Comprehensive income (loss) attributable to Unit Corporation	(770,494)	(3,504)
Unrealized income (loss) on securities, tax	0	0
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net loss	(724,188)	9,772
Other comprehensive income (loss)	0	24
Comprehensive income (loss)	(724,188)	9,796
Less: Comprehensive income (loss) attributable to non-controlling interest	0	0
Comprehensive income (loss) attributable to Unit Corporation	(724,188)	9,796
Unrealized income (loss) on securities, tax	0	7
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net loss	(66,366)	2,360
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	(66,366)	2,360
Less: Comprehensive income (loss) attributable to non-controlling interest	(33,180)	1,222
Comprehensive income (loss) attributable to Unit Corporation	(33,186)	1,138
Unrealized income (loss) on securities, tax	$ 0	$ 0

Supplemental Condensed Consol_7

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Statements of Cash Flows (Unaudited)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$ 29,912	$ 81,188
INVESTING ACTIVITIES:
Capital expenditures	(17,528)	(122,507)
Producing properties and other acquisitions	(210)	(1,580)
Proceeds from disposition of property and equipment	1,751	3,190
Net cash provided by (used in) investing activities	(15,987)	(120,897)
FINANCING ACTIVITIES:
Borrowings under line of credit	71,400	109,800
Payments under line of credit	(35,100)	(69,800)
Intercompany borrowings (advances), net	0	0
Net payments on finance leases	(1,026)	(985)
Employee taxes paid by withholding shares	(43)	(4,110)
Distributions to non-controlling interest	0	(918)
Bank overdrafts	(8,733)	3,161
Net cash provided by (used in) financing activities	26,498	37,148
Net increase (decrease) in cash and cash equivalents	40,423	(2,561)
Cash and cash equivalents, beginning of period	571	6,452
Cash and cash equivalents, end of period	40,994	3,891
Consolidating Adjustments [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	0	(34)
INVESTING ACTIVITIES:
Capital expenditures	0	0
Producing properties and other acquisitions	0	0
Proceeds from disposition of property and equipment	0	0
Net cash provided by (used in) investing activities	0	0
FINANCING ACTIVITIES:
Borrowings under line of credit	0	0
Payments under line of credit	0	0
Intercompany borrowings (advances), net	0	34
Net payments on finance leases	0	0
Employee taxes paid by withholding shares	0	0
Distributions to non-controlling interest		0
Bank overdrafts	0	0
Net cash provided by (used in) financing activities	0	34
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Parent [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	(66,578)	3,548
INVESTING ACTIVITIES:
Capital expenditures	(421)	(321)
Producing properties and other acquisitions	0	0
Proceeds from disposition of property and equipment	0	10
Net cash provided by (used in) investing activities	(421)	(311)
FINANCING ACTIVITIES:
Borrowings under line of credit	39,300	106,900
Payments under line of credit	(23,500)	(66,900)
Intercompany borrowings (advances), net	75,016	(43,103)
Net payments on finance leases	0	0
Employee taxes paid by withholding shares	(43)	(4,110)
Distributions to non-controlling interest		919
Bank overdrafts	(7,269)	3,161
Net cash provided by (used in) financing activities	83,504	(3,133)
Net increase (decrease) in cash and cash equivalents	16,505	104
Cash and cash equivalents, beginning of period	503	403
Cash and cash equivalents, end of period	17,008	507
Combined Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	86,663	64,168
INVESTING ACTIVITIES:
Capital expenditures	(13,051)	(110,089)
Producing properties and other acquisitions	(210)	(1,580)
Proceeds from disposition of property and equipment	1,700	3,142
Net cash provided by (used in) investing activities	(11,561)	(108,527)
FINANCING ACTIVITIES:
Borrowings under line of credit	0	0
Payments under line of credit	0	0
Intercompany borrowings (advances), net	(75,089)	44,407
Net payments on finance leases	0	0
Employee taxes paid by withholding shares	0	0
Distributions to non-controlling interest		0
Bank overdrafts	0	0
Net cash provided by (used in) financing activities	(75,089)	44,407
Net increase (decrease) in cash and cash equivalents	13	48
Cash and cash equivalents, beginning of period	68	208
Cash and cash equivalents, end of period	81	256
Combined Non-Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	9,827	13,506
INVESTING ACTIVITIES:
Capital expenditures	(4,056)	(12,097)
Producing properties and other acquisitions	0	0
Proceeds from disposition of property and equipment	51	38
Net cash provided by (used in) investing activities	(4,005)	(12,059)
FINANCING ACTIVITIES:
Borrowings under line of credit	32,100	2,900
Payments under line of credit	(11,600)	(2,900)
Intercompany borrowings (advances), net	73	(1,338)
Net payments on finance leases	(1,026)	(985)
Employee taxes paid by withholding shares	0	0
Distributions to non-controlling interest		(1,837)
Bank overdrafts	(1,464)	0
Net cash provided by (used in) financing activities	18,083	(4,160)
Net increase (decrease) in cash and cash equivalents	23,905	(2,713)
Cash and cash equivalents, beginning of period	0	5,841
Cash and cash equivalents, end of period	$ 23,905	$ 3,128