Unit (UNTC) 10-Q 12 May 21 2021 Q1 Quarterly report Financial data

Document

Document - shares	3 Months Ended
	Mar. 31, 2021	May 06, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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	N/A
Trading Symbol	N/A
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Amendment Flag	false
Document Fiscal Year Focus	2021
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, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents		$ 25,188	$ 12,145
Restricted cash		0	569
Accounts receivable, net of allowance for credit losses of $4,265 and $3,783 at March 31, 2021 and December 31, 2020, respectively		59,863	57,846
Current income taxes receivable		34	1,150
Prepaid expenses and other		8,444	11,212
Total current assets		93,529	82,922
Oil and natural gas properties on the full cost method:
Proved properties		240,285	238,581
Unproved properties not being amortized		49	1,591
Drilling equipment		63,764	63,687
Gas gathering and processing equipment		252,463	251,404
Land and building		32,635	32,635
Transportation equipment		3,335	3,130
Other		8,667	9,961
Property, plant, and equipment, gross		601,198	600,989
Less accumulated depreciation, depletion, amortization, and impairment		71,921	54,189
Net property and equipment		529,277	546,800
Right of use asset (Note 13)		4,443	5,592
Other assets		15,616	14,389
Total assets	[1]	642,865	649,703
Current liabilities:
Accounts payable		34,552	37,368
Accrued liabilities (Note 7)		23,108	25,204
Current operating lease liability (Note 13)		3,648	4,075
Current portion of long-term debt (Note 8)		800	600
Current derivative liabilities (Note 11)		14,022	1,047
Warrant liability (Note 12)		885	885
Current portion of other long-term liabilities (Note 8)		10,418	11,168
Total current liabilities		87,433	80,347
Long-term debt (Note 8)		78,200	98,400
Non-current derivative liabilities (Note 11)		11,211	4,659
Operating lease liability (Note 13)		741	1,445
Other long-term liabilities (Note 8)		40,188	39,259
Commitments and contingencies (Note 14)
Shareholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued		0	0
Common stock, $0.01 par value, 25,000,000 shares authorized, 12,000,000 shares issued as of March 31, 2021 and December 31, 2020		120	120
Capital in excess of par value		197,316	197,242
Retained deficit		(20,077)	(18,140)
Total shareholders’ equity attributable to Unit Corporation		177,359	179,222
Non-controlling interests in consolidated subsidiaries		247,733	246,371
Total shareholders' equity		425,092	425,593
Total liabilities and shareholders' equity	[1]	$ 642,865	$ 649,703
Preferred stock, par value		$ 0.01	$ 0.01
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, shares issued		0	0
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		25,000,000	25,000,000
Common stock, shares issued		12,000,000	12,000,000
[1]	Unit Corporation's consolidated total assets as of March 31, 2021 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $55.7 million and $239.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2021 include total current and long-term liabilities of the VIE of $29.6 million and $1.7 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, 2020 include total current and long-term assets of the VIE of $45.8 million and $247.8 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2020 include total current and long-term liabilities of the VIE of $28.4 million and $2.6 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 15 – Variable Interest Entity Arrangements.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts receivable, allowance for doubtful accounts	$ 4,265	$ 3,783
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	12,000,000	12,000,000
Total current assets	$ 93,529	$ 82,922
Total current liabilities	87,433	80,347
VIE [Member]
Total current assets	55,734	45,815
Total current liabilities	29,616	28,383
VIE [Member] | Asset Pledged as Collateral
Total current assets	55,700	45,800
Assets, Noncurrent	239,700	247,800
Total current liabilities	29,600	28,400
Liabilities, Noncurrent	$ 1,700	$ 2,600

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Revenues	$ 120,897,000	$ 122,376,000
Operating costs:
Operating costs	71,563,000	83,723,000
Depreciation, depletion, and amortization	17,511,000	61,617,000
Impairments (Note 3)	0	741,924,000
Loss on abandonment of assets (Note 3)	0	17,554,000
General and administrative	6,289,000	11,553,000
(Gain) loss on disposition of assets	(472,000)	390,000
Total operating expenses	94,891,000	916,761,000
Income (loss) from operations	26,006,000	(794,385,000)
Other income (expense):
Interest, net	(2,706,000)	(13,257,000)
Gain (loss) on derivatives	(22,831,000)	483,000
Reorganization Items	(1,136,000)	0
Other, net	76,000	60,000
Total other income (expense)	(26,597,000)	(12,714,000)
Loss before income taxes	(591,000)	(807,099,000)
Income tax benefit:
Current	0	(917,000)
Deferred	0	(2,508,000)
Total income taxes	0	(3,425,000)
Net loss	(591,000)	(803,674,000)
Net income (loss) attributable to non-controlling interest	1,346,000	(33,180,000)
Net loss attributable to Unit Corporation	$ (1,937,000)	$ (770,494,000)
Net loss attributable to Unit Corporation per common share (Note 6):
Basic	$ (0.16)	$ (14.50)
Diluted	$ (0.16)	$ (14.50)
Oil and natural gas
Revenues:
Revenues	$ 55,024,000	$ 48,522,000
Operating costs:
Operating costs	19,149,000	30,663,000
Contract drilling
Revenues:
Revenues	15,674,000	36,632,000
Operating costs:
Operating costs	11,871,000	25,449,000
Gas gathering and processing
Revenues:
Revenues	50,199,000	37,222,000
Operating costs:
Operating costs	$ 40,543,000	$ 27,611,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital In Excess of Par Value [Member]	Retained earnings (deficit) [Member]	Non-controlling interests in consolidated subsidiaries [Member]
Total shareholders' equity	$ 1,055,635	$ 10,591	$ 644,152	$ 199,135	$ 201,757
Net loss	(803,674)	0	0	(770,494)	(33,180)
Activity in employee compensation plans	2,525	103	2,391	0	31
Total shareholders' equity	254,486	10,694	646,543	(571,359)	168,608
Total shareholders' equity	425,593	120	197,242	(18,140)	246,371
Net loss	(591)	0	0	(1,937)	1,346
Activity in employee compensation plans	90	0	74	0	16
Total shareholders' equity	$ 425,092	$ 120	$ 197,316	$ (20,077)	$ 247,733

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES:
Net loss	$ (591,000)	$ (803,674,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, and amortization	17,511,000	61,617,000
Impairments (Note 3)	0	741,924,000
Loss on abandonment of assets (Note 3)	0	17,554,000
Amortization of debt issuance costs and debt discount	0	567,000
(Gain) loss on derivatives (Note 11)	22,831,000	(483,000)
Cash receipts (payments) on derivatives settled (Note 11)	(3,304,000)	551,000
(Gain) loss on disposition of assets	(472,000)	390,000
Deferred tax benefit	0	(2,508,000)
Employee stock compensation plans	90,000	2,568,000
Credit loss expense	482,000	0
ARO liability accretion (Note 9)	461,000	596,000
Contract assets and liabilities, net (Note 4)	812,000	808,000
Noncash reorganization items	760,000	0
Other, net	(79,000)	(740,000)
Changes in operating assets and liabilities increasing (decreasing) cash:
Accounts receivable	(2,498,000)	28,277,000
Material and supplies	0	35,000
Prepaid expenses and other	1,586,000	420,000
Accounts payable	(4,043,000)	(12,341,000)
Accrued liabilities	(4,287,000)	(4,840,000)
Income taxes	1,116,000	(917,000)
Contract advances	(71,000)	108,000
Net cash provided by operating activities	30,304,000	29,912,000
INVESTING ACTIVITIES:
Capital expenditures	(2,034,000)	(17,528,000)
Producing properties and other acquisitions	0	(210,000)
Proceeds from disposition of property and equipment	4,462,000	1,751,000
Net cash provided by (used in) investing activities	2,428,000	(15,987,000)
FINANCING ACTIVITIES:
Borrowings under line of credit	2,700,000	71,400,000
Payments under line of credit	(22,700,000)	(35,100,000)
Net payments on finance leases	(1,067,000)	(1,026,000)
Employee taxes paid by withholding shares	0	(43,000)
Bank overdrafts	(809,000)	8,733,000
Net cash provided by (used in) financing activities	(20,258,000)	26,498,000
Net increase in cash and cash equivalents	12,474,000	40,423,000
Cash, restricted cash, and cash equivalents, beginning of year	12,714,000	571,000
Cash, restricted cash, and cash equivalents, end of year	$ 25,188,000	$ 40,994,000

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid (received) during the year for:
Interest paid (net of capitalized)	$ 2,438	$ 2,141
Income taxes	(1,116)	0
Reorganization items	377	0
Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment	(1,920)	4,812
Non-cash (additions) reductions to oil and natural gas properties related to asset retirement obligations	(26)	3,404
Non-cash trade of property, plant, and equipment	$ 0	$ 548

Organization and Business

Organization and Business	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	ORGANIZATION AND BUSINESS Unless the context clearly indicates otherwise, references in this report to “Unit”, “company”, “we”, “our”, “us”, or like terms refer to Unit Corporation or, as appropriate, one or more of its subsidiaries. References to our mid-stream segment refers to Superior of which we own 50%. We are primarily engaged in the development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing, and treating of natural gas. Our operations are all in the United States and are organized in the following three reporting segments: (1) Oil and Natural Gas, (2) Contract Drilling, and (3) Mid-Stream. Oil and Natural Gas. Carried out by our subsidiary, Unit Petroleum Company (UPC), we develop, acquire, and produce oil and natural gas properties for our own account. Our producing oil and natural gas properties, unproved properties, and related assets are mainly in Oklahoma and Texas, and to a lesser extent, in Arkansas, Kansas, Louisiana, Montana, North Dakota, Utah, and Wyoming. Contract Drilling. Carried out by our subsidiary, Unit Drilling Company (UDC), we drill onshore oil and natural gas wells for a wide range of other oil and natural gas companies as well as for our own account. Our drilling operations are mainly in Oklahoma, Texas, New Mexico, Wyoming, and North Dakota. Mid-Stream. Carried out by our subsidiary, Superior, we buy, sell, gather, transport, process, and treat natural gas for our own account and for third parties. Mid-stream operations are performed in Oklahoma, Texas, Kansas, Pennsylvania, and West Virginia.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (GAAP) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 31, 2021. In the opinion of management, the unaudited condensed consolidated financial statements contain all normal recurring adjustments (including the elimination of all intercompany transactions) and are fairly stated. 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. The results for interim periods are necessarily indicative of annual results. In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 852, Reorganizations, the Company adopted fresh start accounting upon emergence from the Chapter 11 Cases resulting in the Company becoming a new entity for financial reporting purposes. We evaluated the events between September 1, 2020 and September 3, 2020 and concluded that the use of an accounting convenience date of September 1, 2020 (Fresh Start Reporting Date) would not have a material impact to the condensed consolidated financial statements. This was reflected in our condensed consolidated balance sheet as of September 1, 2020. Accordingly, our Condensed Consolidated Financial Statements and Notes after September 1, 2020, are not comparable to the Condensed Consolidated Financial Statements and Notes before that date. To facilitate the financial statement presentations, we refer to the reorganized company in these unaudited condensed consolidated financial statements and notes as the "Successor" for periods subsequent to August 31, 2020, and "Predecessor" for periods prior to September 1, 2020. Furthermore, the unaudited condensed consolidated financial statements and notes have been presented with a "black line" division to delineate the lack of comparability between the Predecessor and Successor. 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 to direct those activities that most significantly affect the economic performance of Superior as further described in Note 15 – Variable Interest Entity Arrangements. Certain amounts in this report for prior periods have been reclassified to conform to current year presentation. There was no impact from these reclassifications to consolidated net income/(loss) or shareholders' equity. Recent Accounting Pronouncements Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The FASB issued ASU 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 amendments within this ASU will be in effect for a limited time beginning March 12, 2020, and an entity may elect to apply the amendments prospectively through December 31, 2022. The amendments will not have a material impact on our consolidated financial statements. Adopted Standards Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes. The FASB issued ASU 2019-12 to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments were effective for reporting periods beginning after December 15, 2020. This standard had no material impact on our consolidated financial statements.

Impairments

Impairments	3 Months Ended
	Mar. 31, 2021
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 those assets may not be recoverable, and changes to our estimates could affect our assessment of asset recoverability. Oil and Natural Gas Properties There were no impairments recorded during the Successor Period of the three months ended March 31, 2021. During the first quarter of 2020, due to the increased uncertainty in our business, we determined our undeveloped acreage would not be fully developed and thus the carrying values of certain of our unproved oil and gas properties were not recoverable resulting in an impairment of $226.5 million. That impairment had a corresponding increase to our depletion base and contributed to our recorded full cost ceiling impairment during the first quarter of 2020. We recorded a non-cash full cost ceiling test write-down of $267.8 million pre-tax ($220.8 million, net of 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. In addition to the impairment evaluations of our proved and unproved oil and gas properties in the first quarter of 2020, we also evaluated the carrying value of our salt water disposal assets. Based on our revised forecast, we determined that some were no longer expected to be used and wrote off the assets for total expense of $17.6 million during the first quarter of 2020. These amounts are reported in loss on abandonment of assets in our Unaudited Condensed Consolidated Statements of Operations. Contract Drilling There were no impairments recorded during the Successor Period of the three months ended March 31, 2021. At March 31, 2020, due to market conditions, we performed impairment testing on two asset groups which were comprised of our SCR diesel-electric drilling rigs and our 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 miscellaneous drilling equipment. These charges are included within impairment charge in our Unaudited Condensed Consolidated Statements of Operations. We used the income approach to determine the fair value of the SCR drilling rigs asset group. This approach uses significant assumptions including management’s best estimates of the expected future cash flows and the estimated useful life of the asset group. Fair value determination requires a considerable amount of judgement and is sensitive to changes in underlying assumptions and economic factors. As a result, there is no assurance the fair value estimates made for the impairment analysis will be accurate in the future. We concluded that no impairment was needed as of March 31, 2020 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. 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 There were no impairments recorded during the Successor Period of the three months ended March 31, 2021.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE FROM CONTRACTS WITH CUSTOMERS Our revenue streams are reported under three segments: oil and natural gas, contract drilling, and mid-stream. This is how we disaggregate our revenue and report our segment revenue (as reflected in Note 16 – 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. 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 Mobilization and de-mobilization charges from our drilling contracts do not relate to a distinct good or service. These revenues should be deferred and recognized ratably over the related contract term that drilling services are provided. We have continued to record these revenues as a distinct service and the impact to our financial statements was immaterial. As of March 31, 2021, we had six contract drilling contracts with terms ranging from two months to almost one year. 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 or by selling hydrocarbons to other mid-stream companies. The typical revenue contracts used by this segment are gas gathering and processing agreements as well as product sales. Contracts for gas gathering and processing services may include terms for demand fees or shortfall fees. Demand fees represent an arrangement where a customer agrees to pay a fixed fee for a contractually agreed upon pipeline capacity, which results in performance obligations for each individual period of reservation. Once the services have been completed, or the customer no longer has access to the contracted capacity, revenue is recognized. The table below shows the changes in our mid-stream contract asset and contract liability balances during periods presented associated with demand fees and the impact to gas gathering and processing revenues: Classification on the Consolidated Balance Sheets March 31, December 31, Change (In thousands) Assets Current contract assets Prepaid expenses and other $ 4,735 $ 6,084 $ (1,349) Non-current contract assets Other assets — 173 (173) Total contract assets $ 4,735 $ 6,257 $ (1,522) Liabilities Current contract liabilities Current portion of other long-term liabilities $ 2,332 $ 2,583 $ (251) Non-current contract liabilities Other long-term liabilities 1,130 1,589 (459) Total contract liabilities 3,462 4,172 (710) Contract assets (liabilities), net $ 1,273 $ 2,085 $ (812) Included below is the adjustment to demand fees from adopting ASC 606 over the remaining term of the contracts as of March 31, 2021. Contract Remaining Term of Contract 2021 2022 2023 and beyond Total Remaining Impact to Revenue (In thousands) Demand fee contracts 2 - 8 years $ (2,689) $ 1,380 $ 36 $ (1,273)

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment Impairment or Disposal [Abstract]
Divestitures	DIVESTITURES Oil and Natural Gas On March 30, 2021, the company entered into a purchase and sale agreement to which we agreed to sell substantially all of our wells and the leases related thereto located in Reno and Stafford Counties, Kansas for $7.1 million, subject to customary closing and post-closing adjustments. This divestiture closed on May 6, 2021, with an effective date of February 1, 2021. The sale of these assets will not result in a significant alteration of the full cost pool, and therefore no gain or loss will be recognized. We sold $1.7 million of non-core oil and natural gas assets, net of related expenses, during the first three months of the Successor Period 2021, compared to $0.6 million during the first three months of the Predecessor Period 2020. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings (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, 2021 (Successor) Basic loss attributable to Unit Corporation per common share $ (1,937) 12,000 $ (0.16) For the three months ended March 31, 2020 (Predecessor) Basic loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50)

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2021
Accrued Liabilities [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of: March 31, December 31, (In thousands) Employee costs $ 6,198 $ 8,878 Lease operating expenses 6,114 6,405 Capital expenditures 5,212 3,461 Taxes 3,396 2,324 Interest payable 300 884 Legal settlement — 2,070 Other 1,888 1,182 Total accrued liabilities $ 23,108 $ 25,204

Long-Term Debt And Other Long-T

Long-Term Debt And Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2021
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: Exit credit agreement with an average interest rate of 6.7% and 6.6% at March 31, 2021 and December 31, 2020, respectively $ 800 $ 600 Long-term debt: Exit credit agreement with an average interest rate of 6.7% and 6.6% at March 31, 2021 and December 31, 2020, respectively $ 78,200 $ 98,400 Exit Credit Agreement. On the Effective Date, under the terms of the Plan, the company entered into an amended and restated credit agreement (the Exit credit agreement), providing for a $140.0 million senior secured revolving credit facility (RBL Facility) and a $40.0 million senior secured term loan facility, among (i) the company, UDC, and UPC (together, the Borrowers), (ii) the guarantors party thereto, including the company and all of its subsidiaries existing as of the Effective Date (other than Superior Pipeline Company, L.L.C. and its subsidiaries), (iii) the lenders party thereto from time to time (Lenders), and (iv) BOKF, NA dba Bank of Oklahoma as administrative agent and collateral agent (in such capacity, the Administrative Agent). The maturity date of borrowings under this Exit credit agreement is March 1, 2024. Revolving Loans and Term Loans (each as defined in the Exit credit agreement) may be Eurodollar Loans or ABR Loans (each as defined in the Exit credit agreement). Revolving Loans that are Eurodollar Loans will bear interest at a rate per annum equal to the Adjusted LIBO Rate (as defined in the Exit credit agreement) for the applicable interest period plus 525 basis points. Revolving Loans that are ABR Loans will bear interest at a rate per annum equal to the Alternate Base Rate (as defined in the Exit credit agreement) plus 425 basis points. Term Loans that are Eurodollar Loans will bear interest at a rate per annum equal to the Adjusted LIBO Rate for the applicable interest period plus 625 basis points. Term Loans that are ABR Loans will bear interest at a rate per annum equal to the Alternate Base Rate plus 525 basis points. On April 6, 2021, the company finalized the first amendment to the Exit credit agreement. Under the first amendment, the company reaffirmed its borrowing base of $140.0 million of the RBL, amended certain financial covenants, and received less restrictive terms, among others, as it relates to the disposition of assets and the use of proceeds from those dispositions. The Exit credit agreement requires the company to comply with certain financial ratios, including a covenant that the company will not permit the Net Leverage Ratio (as defined in the Exit credit agreement) as of the last day of the fiscal quarters ending (i) December 31, 2020 and March 31, 2021, to be greater than 4.00 to 1.00, (ii) June 30, 2021, September 30, 2021, December 31, 2021, March 31, 2022, and June 30, 2022, to be greater than 3.75 to 1.00, and (iii) September 30, 2022 and any fiscal quarter thereafter, to be greater than 3.50 to 1.00. In addition, beginning with the fiscal quarter ending December 31, 2020, the company may not (a) permit the Current Ratio (as defined in the Exit credit agreement) as of the last day of any fiscal quarter to be less than 1.00 to 1.00 or (b) permit the Interest Coverage Ratio (as defined in the Exit credit agreement) as of the last day of any fiscal quarter to be less than 2.50 to 1.00. The Exit credit agreement also contains provisions, among others, that limit certain capital expenditures, and require certain hedging activities. The Exit credit agreement further requires the company provide Quarterly Financial Statements within 45 days after the end of each of the first three quarters of each fiscal year and Annual Financial Statements within 90 days after the end of each fiscal year. As of March 31, 2021, Unit was in compliance with these covenants. The Exit credit agreement is secured by first-priority liens on substantially all of the personal and real property assets of the Borrowers and the Guarantors, including without limitation the company’s ownership interests in Superior Pipeline Company, L.L.C. At March 31, 2021, we had $0.8 million and $78.2 million outstanding current and long-term borrowings, respectively, under the Exit credit agreement. 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, 2021, Superior was in compliance with these covenants. The Superior credit agreement is used to fund capital expenditures and acquisitions and provide general working capital and letters of credit. As of March 31, 2021, we did not have any outstanding borrowings under our Superior credit agreement. Unit is not a party to and does not guarantee Superior's credit agreement. Other Long-Term Liabilities Other long-term liabilities consisted of the following: March 31, December 31, (In thousands) Asset retirement obligation (ARO) liability $ 23,843 $ 23,356 Workers’ compensation 11,735 10,164 Finance lease obligations 2,149 3,216 Contract liability 3,462 4,172 Separation benefit plans 3,859 4,201 Gas balancing liability 4,238 3,997 Other long-term liability 1,320 1,321 50,606 50,427 Less current portion 10,418 11,168 Total other long-term liabilities $ 40,188 $ 39,259

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	ASSET RETIREMENT OBLIGATIONS We 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: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) ARO liability, January 1: $ 23,356 $ 66,627 Accretion of discount 461 596 Liability incurred — 314 Liability settled (16) (319) Liability sold (2) (15) Revision of estimates (1) 44 (3,384) ARO liability, March 31: 23,843 63,819 Less current portion 2,161 1,470 Total long-term ARO $ 21,682 $ 62,349 _______________________

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATIONOn the Effective Date, the Board adopted the Unit Corporation Long Term Incentive Plan (LTIP) to incentivize employees, officers, directors and other service providers of the company and its affiliates. The LTIP provides for the grant, from time to time, at the discretion of the Board or a committee thereof, of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents, other stock-based awards, cash awards, performance awards, substitute awards or any combination of the foregoing. Subject to adjustment in the event of certain transactions or changes of capitalization in accordance with the LTIP, 903,226 shares of new common stock of the reorganized company (New Common Stock) have been reserved for issuance pursuant to awards under the LTIP. New Common Stock subject to an award that expires or is canceled, forfeited, exchanged, settled in cash, or otherwise terminated without delivery of shares and shares withheld to pay the exercise price of, or to satisfy the withholding obligations with respect to, an award will again be available for delivery pursuant to other awards under the LTIP. The LTIP will be administered by the Board or a committee thereof. No shares under the LTIP have been awarded since the Effective Date through March 31, 2021. Also on the Effective Date, the company's equity-based awards outstanding immediately before the Effective Date were cancelled. The cancellation of the awards resulted in an acceleration of unrecorded stock compensation expense during the Predecessor Period. Under the Plan, the company issued Warrants to holders of those equity-based awards that were outstanding immediately before the Effective Date who did not opt out of releases under the Plan. For restricted stock awards and stock options, we had: Predecessor Three Months Ended March 31, 2020 (In millions) Recognized stock compensation expense $ 2.5 Tax benefit on stock-based compensation $ 0.6

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES Commodity Derivatives We have entered into various types of derivative transactions covering some of our projected natural gas, NGLs, and oil production. These transactions are intended to 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 well as certain requirements stipulated in the Exit credit agreement. For further details, see Note 8 – Long-Term Debt and Other Long-Term Liabilities. As of March 31, 2021, our derivative transactions consisted of the following types of hedges: • 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. • Swaps. We receive or pay a fixed price for the commodity and pay or receive a floating market price to the counterparty. The fixed-price payment and the floating-price payment are netted, resulting in a net amount due to or from the counterparty. • Collars. A collar contains a fixed floor price (put) and a ceiling price (call). If the market price exceeds the call strike price or falls below the put strike price, we receive the fixed price and pay the market price. If the market price is between the call and the put strike price, no payments are due from either party. We do not engage in derivative transactions for speculative purposes. All derivatives are recognized on the balance sheet and measured at fair value. Any changes in our derivatives' fair value occurring before their maturity (i.e., temporary fluctuations in value) are reported in gain (loss) on derivatives in our Unaudited Condensed Consolidated Statements of Operations. At March 31, 2021, these derivatives were outstanding: Term Commodity Contracted Volume Weighted Average Contracted Market Apr'21 - Dec'21 Natural gas - basis swap 30,000 MMBtu/day $(0.215) NGPL TEXOK Apr'21 - Oct'21 Natural gas - swap 50,000 MMBtu/day $2.818 IF - NYMEX (HH) Nov'21 - Dec'21 Natural gas - swap 45,000 MMBtu/day $2.900 IF - NYMEX (HH) Jan'22 - Dec'22 Natural gas - swap 5,000 MMBtu/day $2.605 IF - NYMEX (HH) Jan'23 - Dec'23 Natural gas - swap 22,000 MMBtu/day $2.456 IF - NYMEX (HH) Jan'22 - Dec'22 Natural gas - collar 35,000 MMBtu/day $2.50 - $2.68 IF - NYMEX (HH) Apr'21 - Dec'21 Crude oil - swap 3,373 Bbl/day $46.16 WTI - NYMEX Jan'22 - Dec'22 Crude oil - swap 2,300 Bbl/day $42.25 WTI - NYMEX Jan'23 - Dec'23 Crude oil - swap 1,300 Bbl/day $43.60 WTI - NYMEX The following tables present the fair values and locations of the derivative transactions recorded in our Unaudited Condensed Consolidated Balance Sheets: Derivative Liabilities Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative liability $ 14,022 $ 1,047 Long-term Non-current derivative liability 11,211 4,659 Total derivative liabilities $ 25,233 $ 5,706 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: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Gain (loss) on derivatives: Gain (loss) on derivatives, included are amounts settled during the period of $(3,304) and $551, respectively $ (22,831) $ 483 $ (22,831) $ 483

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
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, 2021 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 1,899 $ — $ (1,899) $ — Liabilities (27,132) — 1,899 (25,233) Total commodity derivatives $ (25,233) $ — $ — $ (25,233) December 31, 2020 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 3,436 $ — $ (3,436) $ — Liabilities (9,142) — 3,436 (5,706) Total commodity derivatives $ (5,706) — — (5,706) 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, 2021. 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 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 Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Beginning of period $ — $ 1,204 Total gains or losses (realized and unrealized): Included in earnings (1) — 563 Settlements — (819) End of period $ — $ 948 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) _______________________ 1. Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives. Our valuation at March 31, 2021 reflected that the risk of non-performance was immaterial. Warrants . Warrants are recorded at their fair value upon utilizing the Black-Scholes-Merton option model. The inputs to the model require judgement, including estimating the strike price, expected term and the associated volatility. At March 31, 2021, the Warrants have a fair value of $0.9 million and will continue to be adjusted to fair value at each reporting period until determined to be an equity instrument, at which time they will be reported as Shareholders' equity and no longer be subject to future fair value adjustment. 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, 2021, the carrying values on the Unaudited Condensed Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, other current assets, and current liabilities approximate their fair value because of their short-term nature. 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, 2021
Leases [Abstract]
Leases of Lessee Disclosure	LEASES Lease Agreements. We lease certain office space, land, and equipment, including pipeline equipment and office equipment. Our lease payments are generally straight-line and the exercise of 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 available renewal options. Our lease agreements do not include options to purchase the leased property. The following table sets forth the maturity of our operating lease liabilities as of March 31, 2021: Amount (In thousands) Ending March 31, 2022 $ 3,760 2023 661 2024 29 2025 12 2026 12 2027 and beyond 60 Total future payments 4,534 Less: Interest 145 Present value of future minimum operating lease payments 4,389 Less: Current portion 3,648 Total long-term operating lease payments $ 741 Finance Leases under ASC 842 In 2014, Superior entered into finance lease agreements for 20 compressors with initial terms of seven The following table sets forth the maturity of our finance lease liabilities as of March 31, 2021: Amount Ending March 31, (In thousands) 2022 $ 2,226 Total future payments 2,226 Less payments related to: Maintenance 72 Interest 5 Present value of future minimum finance lease payments 2,149 Less: Current portion 2,149 Total long-term finance lease payments $ — The following table shows information about our lease assets and liabilities in our Unaudited Condensed Consolidated Balance Sheets: Classification on the Consolidated Balance Sheet March 31, December 31, (In thousands) Assets Operating right of use assets Right of use assets $ 4,443 $ 5,592 Finance right of use assets Property, plant, and equipment, net 7,032 7,281 Total right of use assets $ 11,475 $ 12,873 Liabilities Current liabilities: Operating lease liabilities Current operating lease liabilities $ 3,648 $ 4,075 Finance lease liabilities Current portion of other long-term liabilities 2,149 3,216 Non-current liabilities: Operating lease liabilities Operating lease liabilities 741 1,445 Finance lease liabilities Other long-term liabilities — — Total lease liabilities $ 6,538 $ 8,736 The following table shows certain information related to the lease costs for our finance and operating leases for the periods indicated: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Components of total lease cost: Amortization of finance leased assets $ 1,067 $ 1,025 Interest on finance lease liabilities 29 70 Operating lease cost 1,047 1,244 Short-term lease cost (1) 1,444 3,991 Variable lease cost 58 82 Total lease cost $ 3,645 $ 6,412 _______________________ 1. Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.1 million and $1.0 million for the first three months of 2021 and 2020, respectively. The following table shows supplemental cash flow information related to leases for the periods indicated: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Cash paid for amounts in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,048 $ 1,333 Financing cash flows for finance leases $ 1,067 $ 1,025 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 1.4 4.30% Finance leases 0.4 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments We have firm transportation commitments to transport our natural gas from various systems for approximately $0.8 million over the next twelve months and $0.3 million for the nine months thereafter. During the second quarter of 2018, as part of the Superior transaction (see Note 15 – Variable Interest Entity Arrangements), we entered into a contractual obligation committing us to spend $150.0 million to drill wells in the Granite Wash/Buffalo Wallow area over three years starting January 1, 2019. 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 ownership interest in our consolidated mid-stream subsidiary. At March 31, 2021, 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 $72.6 million. The total amount spent towards the $150.0 million as of March 31, 2021 was $24.8 million. We do not anticipate meeting the contractual obligation over the remaining commitment period. Environmental 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 significant 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. Litigation The company is subject to litigation and claims arising in the ordinary course of business which may include environmental, health and safety matters, or more routine employment related claims. The company accrues for such items when a liability is both probable and the amount can be reasonably estimated. As new information becomes available or because of legal or administrative rulings in similar matters or a change in applicable law, the company's conclusions regarding the probability of outcomes and the amount of estimated loss, if any, may change. Although we are insured against various risks, there is no assurance that the nature and amount of that insurance will be adequate, in every case, to indemnify us against liabilities arising from future legal proceedings. On May 22, 2020, the Debtors filed petitions for relief under Chapter 11 of the Bankruptcy Code. The commencement of the Chapter 11 Cases automatically stayed all the proceedings and actions against the Debtors (other than certain regulatory enforcement matters). The Debtors emerged from the Chapter 11 Cases on the Effective Date. On the Effective Date, the automatic stay was terminated and replaced with the injunction provisions in the Confirmation Order and the Plan. In 2013, the company’s exploration and production subsidiary, UPC, drilled a well in Beaver County, Oklahoma. Certain operational issues arose and one of the working interest owners in the well filed a lawsuit claiming that UPC’s actions violated its duties under the joint operating agreement and caused damages to the owners in the well. The case went to trial in January 2019 and the jury issued a verdict in favor of the working interest owner, awarding $2.4 million in damages, including pre- and post-judgment interest. UPC appealed the verdict, and while it was pending review in the Oklahoma Court of Civil Appeals, UPC finalized a settlement agreement with the working interest owner for $2.1 million in February 2021. The commencement of the Chapter 11 Cases automatically stayed all proceedings and actions against the Predecessor company (other than certain regulatory enforcement matters). Effective at emergence from the Chapter 11 Cases, the automatic stay was terminated and replaced with the injunction provisions in the Confirmation Order and the Plan. Below is a summary of two lawsuits and the respective treatment of those cases in the Chapter 11 Cases. Cockerell Oil Properties, Ltd., v. Unit Petroleum Company , No. 16-cv-135-JHP, United States District Court for the Eastern District of Oklahoma. On March 11, 2016, a putative class action lawsuit was filed against UPC styled Cockerell Oil Properties, Ltd., v. Unit Petroleum Compan y in LeFlore County, Oklahoma. We removed the case to federal court in the Eastern District of Oklahoma. The plaintiff alleges that UPC wrongfully failed to pay interest with respect to late paid oil and gas proceeds under Oklahoma’s Production Revenue Standards Act. The lawsuit seeks actual and punitive damages, an accounting, disgorgement, injunctive relief, and attorney fees. Plaintiff is seeking relief on behalf of royalty and working interest owners in our Oklahoma wells. Chieftain Royalty Company v. Unit Petroleum Company , No. CJ-16-230, District Court of LeFlore County, Oklahoma. On November 3, 2016, a putative class action lawsuit was filed against UPC styled Chieftain Royalty Company v. Unit Petroleum Company in LeFlore County, Oklahoma. The plaintiff alleges that UPC breached its duty to pay royalties on natural gas used for fuel off the lease premises. The lawsuit seeks actual and punitive damages, an accounting, injunctive relief, and attorney’s fees. Plaintiff is seeking relief on behalf of Oklahoma citizens who are or were royalty owners in our Oklahoma wells. Pending Settlement In August 2020, UPC reached an agreement to settle these class actions. Under the settlement, UPC agreed to recognize class proof of claims in the amount of $15.75 million for Cockerell Oil Properties, Ltd. vs. Unit Petroleum Company, and $29.25 million in Chieftain Royalty Company vs. Unit Petroleum Company. This settlement is subject to certain conditions, including approval by the United States Bankruptcy Court for the Southern District of Texas, Houston Division in Case No. 20-32740 under the caption In re Unit Corporation, et al. Under the Plan, these settlements will be treated as allowed general unsecured claims against UPC. And, in accordance with the Plan, the settlement amounts will be satisfied by distribution of the plaintiffs’ proportionate share of New Common Stock. Winter Storm In February 2021, a severe winter storm impacted many of our operating areas in Oklahoma, Texas, and Kansas, resulting in certain disruptions to our operations. Although some uncertainties remain as to the ultimate impact and severity of these disruptions, we do not believe any such matters will have a material impact on our financial position.

Variable Interest Entity Arrang

Variable Interest Entity Arrangements	3 Months Ended
	Mar. 31, 2021
Variable Interest Entity Arrangements [Abstract]
Variable Interest Entity Arrangements	VARIABLE INTEREST ENTITY ARRANGEMENTSOn 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 is governed and managed under the Amended and Restated Limited Liability Company Agreement (Agreement) and a Management Services Agreement (MSA). The MSA is between our wholly-owned subsidiary, SPC Midstream Operating, L.L.C. (the Operator) and Superior. As the Operator, we provide services, like operations and maintenance support, accounting, legal, and human resources to Superior for a monthly service fee of $263,280. Superior's creditors have no recourse to our general credit. Unit is not a party to and does not guarantee Superior's credit agreement. 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 Agreement specifies how future distributions are to be allocated among the Members. Future distributions may be from available cash or made in conjunction with a sale event (both as defined in the Agreement). In certain circumstances, future distributions could result in Unit receiving distributions that are disproportionately lower than its ownership percentage. Circumstances that could result in Unit receiving less than a proportionate share of future distributions include, but may not be limited to, Unit not fulfilling the drilling commitment described in Note 14 – Commitments and Contingencies or a cumulative return to SP Investor Holdings, LLC of less than the 7% Liquidation IRR Hurdle provided for SP Investor Holdings, LLC in the Agreement. Generally, the 7% Liquidation IRR Hurdle calculation requires cumulative distributions to SP Investor Holdings, LLC in excess of its original $300.0 million investment sufficient to provide SP Investor Holdings, LLC a 7% IRR on its capital contributions to Superior before any liquidation distribution is made to Unit. After the fifth anniversary of the effective date of the sale, either owner may force a sale of Superior to a third-party or a liquidation of Superior's assets. Effective at emergence from the Chapter 11 Cases, we record our share of earnings and losses from Superior using the HLBV method of accounting. The HLBV is a balance-sheet approach that calculates the amount we would have received if Superior were liquidated at book value at the end of each measurement period. The change in our allocated amount during the period is recognized in our unaudited condensed consolidated statements of operations. On the sale or liquidation of Superior, distributions would occur in the order and priority specified in the relevant agreements. 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. Under the MSA, Unit 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, 2021. 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. 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. The amounts below reflect the eliminations of intercompany transactions and balances consistent with the presentation in the Unaudited Condensed Consolidated Balance Sheets. March 31, December 31, (In thousands) Current assets: Cash and cash equivalents $ 24,687 $ 11,642 Accounts receivable 25,890 27,427 Prepaid expenses and other 5,157 6,746 Total current assets 55,734 45,815 Property and equipment: Gas gathering and processing equipment 252,463 251,403 Transportation equipment 1,822 1,748 254,285 253,151 Less accumulated depreciation, depletion, amortization, and impairment 18,673 10,466 Net property and equipment 235,612 242,685 Right of use asset 2,384 2,823 Other assets 1,663 2,309 Total assets $ 295,393 $ 293,632 Current liabilities: Accounts payable $ 20,200 $ 17,045 Accrued liabilities 3,164 3,777 Current operating lease liability 1,771 1,762 Current portion of other long-term liabilities 4,481 5,799 Total current liabilities 29,616 28,383 Operating lease liability 566 1,013 Other long-term liabilities 1,130 1,589 Total liabilities $ 31,312 $ 30,985

Industry Segment Information

Industry Segment Information	3 Months Ended
	Mar. 31, 2021
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: Successor Three Months Ended March 31, 2021 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 55,025 $ — $ — $ — $ (1) $ 55,024 Contract drilling — 15,674 — — — 15,674 Gas gathering and processing — — 59,610 — (9,411) 50,199 Total revenues 55,025 15,674 59,610 — (9,412) 120,897 Expenses: Operating costs: Oil and natural gas 19,993 — — — (844) 19,149 Contract drilling — 11,871 — — — 11,871 Gas gathering and processing — — 49,111 — (8,568) 40,543 Total operating costs 19,993 11,871 49,111 — (9,412) 71,563 Depreciation, depletion, and amortization 7,655 1,575 8,032 249 — 17,511 Total expenses 27,648 13,446 57,143 249 (9,412) 89,074 General and administrative — — — 6,289 — 6,289 (Gain) loss on disposition of assets (19) (529) 75 1 — (472) Income (loss) from operations 27,396 2,757 2,392 (6,539) — 26,006 Loss on derivatives — — — (22,831) — (22,831) Interest, net — — (1,057) (1,649) — (2,706) Reorganization items, net — — — (1,136) — (1,136) Other 57 5 12 2 — 76 Income (loss) before income taxes $ 27,453 $ 2,762 $ 1,347 $ (32,153) $ — $ (591) _______________________ 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. Predecessor 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.

Supplemental Condensed Consolid

Supplemental Condensed Consolidated Financial Information	3 Months Ended
	Mar. 31, 2021
Supplemental Condensed Consolidated Financial Information [Abstract]
Condensed Consolidated Financial Statements	SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION The Notes of the Predecessor company were registered securities until they were cancelled on the Effective Date. As a result, we are required to present the following condensed consolidating financial information for the Predecessor Periods under to Rule 3-10 of the SEC's Regulation S-X, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered. Our Successor Exit credit agreement is not a registered security. Therefore, the presentation of condensed consolidating financial information is not required for the Successor Period. 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 Statements of Operations (Unaudited) Predecessor Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Revenues $ — $ 85,154 $ 42,680 $ (5,458) $ 122,376 Expenses: Operating costs — 56,864 32,317 (5,458) 83,723 Depreciation, depletion, and amortization 871 48,473 12,273 — 61,617 Impairments — 677,962 63,962 — 741,924 Loss on abandonment of assets — 17,554 — — 17,554 General and administrative — 11,553 — — 11,553 (Gain) loss on disposition of assets — 396 (6) — 390 Total operating costs 871 812,802 108,546 (5,458) 916,761 Loss from operations (871) (727,648) (65,866) — (794,385) Interest, net (12,739) — (518) — (13,257) Gain on derivatives 483 — — — 483 Other, net 7 35 18 — 60 Loss before income taxes (13,120) (727,613) (66,366) — (807,099) Income tax benefit — (3,425) — — (3,425) Equity in net earnings from investment in subsidiaries, net of taxes (790,554) — — 790,554 — Net loss (803,674) (724,188) (66,366) 790,554 (803,674) Less: net loss attributable to non-controlling interest (33,180) — (33,180) 33,180 (33,180) Net loss attributable to Unit Corporation $ (770,494) $ (724,188) $ (33,186) $ 757,374 $ (770,494) Condensed Consolidating Statements of Cash Flows (Unaudited) Predecessor Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ (66,578) $ 86,663 $ 9,827 $ — $ 29,912 INVESTING ACTIVITIES: Capital expenditures (421) (13,051) (4,056) — (17,528) Producing properties and other acquisitions — (210) — — (210) Proceeds from disposition of assets — 1,700 51 — 1,751 Net cash used in investing activities (421) (11,561) (4,005) — (15,987) FINANCING ACTIVITIES: Borrowings under credit agreement 39,300 — 32,100 — 71,400 Payments under credit agreement (23,500) — (11,600) — (35,100) Intercompany borrowings (advances), net 75,016 (75,089) 73 — — Net payments on finance leases — — (1,026) — (1,026) Employee taxes paid by withholding shares (43) — — — (43) Bank overdrafts (7,269) — (1,464) — (8,733) Net cash provided by (used in) financing activities 83,504 (75,089) 18,083 — 26,498 Net increase in cash and cash equivalents 16,505 13 23,905 — 40,423 Cash and cash equivalents, beginning of period 503 68 — — 571 Cash and cash equivalents, end of period $ 17,008 $ 81 $ 23,905 $ — $ 40,994

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	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 to direct those activities that most significantly affect the economic performance of Superior as further described in Note 15 – Variable Interest Entity Arrangements.

Revenues from Contracts with Cu

Revenues from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue From Contracts with Customers [Abstract]
Contract with Customer, Asset and Liability	The table below shows the changes in our mid-stream contract asset and contract liability balances during periods presented associated with demand fees and the impact to gas gathering and processing revenues: Classification on the Consolidated Balance Sheets March 31, December 31, Change (In thousands) Assets Current contract assets Prepaid expenses and other $ 4,735 $ 6,084 $ (1,349) Non-current contract assets Other assets — 173 (173) Total contract assets $ 4,735 $ 6,257 $ (1,522) Liabilities Current contract liabilities Current portion of other long-term liabilities $ 2,332 $ 2,583 $ (251) Non-current contract liabilities Other long-term liabilities 1,130 1,589 (459) Total contract liabilities 3,462 4,172 (710) Contract assets (liabilities), net $ 1,273 $ 2,085 $ (812)
Revenue, Remaining Performance Obligation	Included below is the adjustment to demand fees from adopting ASC 606 over the remaining term of the contracts as of March 31, 2021. Contract Remaining Term of Contract 2021 2022 2023 and beyond Total Remaining Impact to Revenue (In thousands) Demand fee contracts 2 - 8 years $ (2,689) $ 1,380 $ 36 $ (1,273)

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings (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, 2021 (Successor) Basic loss attributable to Unit Corporation per common share $ (1,937) 12,000 $ (0.16) For the three months ended March 31, 2020 (Predecessor) Basic loss attributable to Unit Corporation per common share $ (770,494) 53,131 $ (14.50)

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Accrued Liabilities [Abstract]
Accrued Liabilities [Table Text Block]	Accrued liabilities consisted of: March 31, December 31, (In thousands) Employee costs $ 6,198 $ 8,878 Lease operating expenses 6,114 6,405 Capital expenditures 5,212 3,461 Taxes 3,396 2,324 Interest payable 300 884 Legal settlement — 2,070 Other 1,888 1,182 Total accrued liabilities $ 23,108 $ 25,204

Long-Term Debt And Other Long_2

Long-Term Debt And Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
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: Exit credit agreement with an average interest rate of 6.7% and 6.6% at March 31, 2021 and December 31, 2020, respectively $ 800 $ 600 Long-term debt: Exit credit agreement with an average interest rate of 6.7% and 6.6% at March 31, 2021 and December 31, 2020, respectively $ 78,200 $ 98,400
Other Long-Term Liabilities	Other long-term liabilities consisted of the following: March 31, December 31, (In thousands) Asset retirement obligation (ARO) liability $ 23,843 $ 23,356 Workers’ compensation 11,735 10,164 Finance lease obligations 2,149 3,216 Contract liability 3,462 4,172 Separation benefit plans 3,859 4,201 Gas balancing liability 4,238 3,997 Other long-term liability 1,320 1,321 50,606 50,427 Less current portion 10,418 11,168 Total other long-term liabilities $ 40,188 $ 39,259

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligations	The following table shows certain information about our estimated AROs for the periods indicated: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) ARO liability, January 1: $ 23,356 $ 66,627 Accretion of discount 461 596 Liability incurred — 314 Liability settled (16) (319) Liability sold (2) (15) Revision of estimates (1) 44 (3,384) ARO liability, March 31: 23,843 63,819 Less current portion 2,161 1,470 Total long-term ARO $ 21,682 $ 62,349

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock Awards and Stock Options	For restricted stock awards and stock options, we had: Predecessor Three Months Ended March 31, 2020 (In millions) Recognized stock compensation expense $ 2.5 Tax benefit on stock-based compensation $ 0.6

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives outstanding	At March 31, 2021, these derivatives were outstanding: Term Commodity Contracted Volume Weighted Average Contracted Market Apr'21 - Dec'21 Natural gas - basis swap 30,000 MMBtu/day $(0.215) NGPL TEXOK Apr'21 - Oct'21 Natural gas - swap 50,000 MMBtu/day $2.818 IF - NYMEX (HH) Nov'21 - Dec'21 Natural gas - swap 45,000 MMBtu/day $2.900 IF - NYMEX (HH) Jan'22 - Dec'22 Natural gas - swap 5,000 MMBtu/day $2.605 IF - NYMEX (HH) Jan'23 - Dec'23 Natural gas - swap 22,000 MMBtu/day $2.456 IF - NYMEX (HH) Jan'22 - Dec'22 Natural gas - collar 35,000 MMBtu/day $2.50 - $2.68 IF - NYMEX (HH) Apr'21 - Dec'21 Crude oil - swap 3,373 Bbl/day $46.16 WTI - NYMEX Jan'22 - Dec'22 Crude oil - swap 2,300 Bbl/day $42.25 WTI - NYMEX Jan'23 - Dec'23 Crude oil - swap 1,300 Bbl/day $43.60 WTI - NYMEX
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 Liabilities Fair Value Balance Sheet Location March 31, December 31, (In thousands) Commodity derivatives: Current Current derivative liability $ 14,022 $ 1,047 Long-term Non-current derivative liability 11,211 4,659 Total derivative liabilities $ 25,233 $ 5,706
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: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Gain (loss) on derivatives: Gain (loss) on derivatives, included are amounts settled during the period of $(3,304) and $551, respectively $ (22,831) $ 483 $ (22,831) $ 483

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The following tables set forth our recurring fair value measurements: March 31, 2021 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 1,899 $ — $ (1,899) $ — Liabilities (27,132) — 1,899 (25,233) Total commodity derivatives $ (25,233) $ — $ — $ (25,233) December 31, 2020 Level 2 Level 3 Effect Net Amounts Presented Financial assets (liabilities): Commodity derivatives: Assets $ 3,436 $ — $ (3,436) $ — Liabilities (9,142) — 3,436 (5,706) Total commodity derivatives $ (5,706) — — (5,706)
Reconciliations Of Level 3 Fair Value Measurements	The following table is a reconciliation of our Level 3 fair value measurements: Net Derivatives Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Beginning of period $ — $ 1,204 Total gains or losses (realized and unrealized): Included in earnings (1) — 563 Settlements — (819) End of period $ — $ 948 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) _______________________ 1. Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Operating leases	The following table sets forth the maturity of our operating lease liabilities as of March 31, 2021: Amount (In thousands) Ending March 31, 2022 $ 3,760 2023 661 2024 29 2025 12 2026 12 2027 and beyond 60 Total future payments 4,534 Less: Interest 145 Present value of future minimum operating lease payments 4,389 Less: Current portion 3,648 Total long-term operating lease payments $ 741
Finance leases	The following table sets forth the maturity of our finance lease liabilities as of March 31, 2021: Amount Ending March 31, (In thousands) 2022 $ 2,226 Total future payments 2,226 Less payments related to: Maintenance 72 Interest 5 Present value of future minimum finance lease payments 2,149 Less: Current portion 2,149 Total long-term finance lease payments $ —
Schedule of lease assets and liabilities	The following table shows information about our lease assets and liabilities in our Unaudited Condensed Consolidated Balance Sheets: Classification on the Consolidated Balance Sheet March 31, December 31, (In thousands) Assets Operating right of use assets Right of use assets $ 4,443 $ 5,592 Finance right of use assets Property, plant, and equipment, net 7,032 7,281 Total right of use assets $ 11,475 $ 12,873 Liabilities Current liabilities: Operating lease liabilities Current operating lease liabilities $ 3,648 $ 4,075 Finance lease liabilities Current portion of other long-term liabilities 2,149 3,216 Non-current liabilities: Operating lease liabilities Operating lease liabilities 741 1,445 Finance lease liabilities Other long-term liabilities — — Total lease liabilities $ 6,538 $ 8,736
Schedule of lease costs	The following table shows certain information related to the lease costs for our finance and operating leases for the periods indicated: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Components of total lease cost: Amortization of finance leased assets $ 1,067 $ 1,025 Interest on finance lease liabilities 29 70 Operating lease cost 1,047 1,244 Short-term lease cost (1) 1,444 3,991 Variable lease cost 58 82 Total lease cost $ 3,645 $ 6,412 _______________________ 1. Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.1 million and $1.0 million for the first three months of 2021 and 2020, respectively.
Supplemental cash flow information related to leases	The following table shows supplemental cash flow information related to leases for the periods indicated: Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In thousands) Cash paid for amounts in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,048 $ 1,333 Financing cash flows for finance leases $ 1,067 $ 1,025
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 1.4 4.30% Finance leases 0.4 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.

Variable Interest Entity Arra_2

Variable Interest Entity Arrangements (Tables)	3 Months Ended
	Mar. 31, 2021
Variable Interest Entity Arrangements [Abstract]
Schedule of Assets and Liabilities	The amounts below reflect the eliminations of intercompany transactions and balances consistent with the presentation in the Unaudited Condensed Consolidated Balance Sheets. March 31, December 31, (In thousands) Current assets: Cash and cash equivalents $ 24,687 $ 11,642 Accounts receivable 25,890 27,427 Prepaid expenses and other 5,157 6,746 Total current assets 55,734 45,815 Property and equipment: Gas gathering and processing equipment 252,463 251,403 Transportation equipment 1,822 1,748 254,285 253,151 Less accumulated depreciation, depletion, amortization, and impairment 18,673 10,466 Net property and equipment 235,612 242,685 Right of use asset 2,384 2,823 Other assets 1,663 2,309 Total assets $ 295,393 $ 293,632 Current liabilities: Accounts payable $ 20,200 $ 17,045 Accrued liabilities 3,164 3,777 Current operating lease liability 1,771 1,762 Current portion of other long-term liabilities 4,481 5,799 Total current liabilities 29,616 28,383 Operating lease liability 566 1,013 Other long-term liabilities 1,130 1,589 Total liabilities $ 31,312 $ 30,985

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Industry segment information	The following tables provide certain information about the operations of each of our segments: Successor Three Months Ended March 31, 2021 Oil and Natural Gas Contract Drilling Mid-stream Corporate and Other Eliminations Total Consolidated (In thousands) Revenues: (1) Oil and natural gas $ 55,025 $ — $ — $ — $ (1) $ 55,024 Contract drilling — 15,674 — — — 15,674 Gas gathering and processing — — 59,610 — (9,411) 50,199 Total revenues 55,025 15,674 59,610 — (9,412) 120,897 Expenses: Operating costs: Oil and natural gas 19,993 — — — (844) 19,149 Contract drilling — 11,871 — — — 11,871 Gas gathering and processing — — 49,111 — (8,568) 40,543 Total operating costs 19,993 11,871 49,111 — (9,412) 71,563 Depreciation, depletion, and amortization 7,655 1,575 8,032 249 — 17,511 Total expenses 27,648 13,446 57,143 249 (9,412) 89,074 General and administrative — — — 6,289 — 6,289 (Gain) loss on disposition of assets (19) (529) 75 1 — (472) Income (loss) from operations 27,396 2,757 2,392 (6,539) — 26,006 Loss on derivatives — — — (22,831) — (22,831) Interest, net — — (1,057) (1,649) — (2,706) Reorganization items, net — — — (1,136) — (1,136) Other 57 5 12 2 — 76 Income (loss) before income taxes $ 27,453 $ 2,762 $ 1,347 $ (32,153) $ — $ (591) _______________________ 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. Predecessor 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.

Supplemental Condensed Consol_2

Supplemental Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Condensed Consolidated Financial Information [Abstract]
Condensed Consolidating Statements of Operations (Unaudited)	Condensed Consolidating Statements of Operations (Unaudited) Predecessor Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Revenues $ — $ 85,154 $ 42,680 $ (5,458) $ 122,376 Expenses: Operating costs — 56,864 32,317 (5,458) 83,723 Depreciation, depletion, and amortization 871 48,473 12,273 — 61,617 Impairments — 677,962 63,962 — 741,924 Loss on abandonment of assets — 17,554 — — 17,554 General and administrative — 11,553 — — 11,553 (Gain) loss on disposition of assets — 396 (6) — 390 Total operating costs 871 812,802 108,546 (5,458) 916,761 Loss from operations (871) (727,648) (65,866) — (794,385) Interest, net (12,739) — (518) — (13,257) Gain on derivatives 483 — — — 483 Other, net 7 35 18 — 60 Loss before income taxes (13,120) (727,613) (66,366) — (807,099) Income tax benefit — (3,425) — — (3,425) Equity in net earnings from investment in subsidiaries, net of taxes (790,554) — — 790,554 — Net loss (803,674) (724,188) (66,366) 790,554 (803,674) Less: net loss attributable to non-controlling interest (33,180) — (33,180) 33,180 (33,180) Net loss attributable to Unit Corporation $ (770,494) $ (724,188) $ (33,186) $ 757,374 $ (770,494)
Condensed Consolidating Statements of Cash Flows (Unaudited)	Condensed Consolidating Statements of Cash Flows (Unaudited) Predecessor Three Months Ended March 31, 2020 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ (66,578) $ 86,663 $ 9,827 $ — $ 29,912 INVESTING ACTIVITIES: Capital expenditures (421) (13,051) (4,056) — (17,528) Producing properties and other acquisitions — (210) — — (210) Proceeds from disposition of assets — 1,700 51 — 1,751 Net cash used in investing activities (421) (11,561) (4,005) — (15,987) FINANCING ACTIVITIES: Borrowings under credit agreement 39,300 — 32,100 — 71,400 Payments under credit agreement (23,500) — (11,600) — (35,100) Intercompany borrowings (advances), net 75,016 (75,089) 73 — — Net payments on finance leases — — (1,026) — (1,026) Employee taxes paid by withholding shares (43) — — — (43) Bank overdrafts (7,269) — (1,464) — (8,733) Net cash provided by (used in) financing activities 83,504 (75,089) 18,083 — 26,498 Net increase in cash and cash equivalents 16,505 13 23,905 — 40,423 Cash and cash equivalents, beginning of period 503 68 — — 571 Cash and cash equivalents, end of period $ 17,008 $ 81 $ 23,905 $ — $ 40,994

Property, Plant, and Equipment

Property, Plant, and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Capitalized costs of unproved properties included in amortization, cumulative		$ 226,500,000
Non-cash Ceiling Test Write-Down Net of Tax		220,800,000
Loss on abandonment of assets	$ 0	17,554,000
Oil and Natural Gas [Member]
Property, Plant and Equipment [Line Items]
Impairment of Oil and Gas Properties		267,800,000
Loss on abandonment of assets		17,600,000
Mid-Stream [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use		64,000,000
BOSS drilling rigs [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Carrying value of asset group		242,500,000
SCR drilling rigs [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use		407,100,000
Other drilling equipment [Member] | Drilling Equipment [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use		$ 3,000,000

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, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract liability	$ 3,462	$ 4,172
Mid-Stream [Member]
Disaggregation of Revenue [Line Items]
Current contract assets	4,735	6,084
Non-current contract assets	0	173
Contract assets	4,735	6,257
Contract with Customer, Current Asset, Reclassified to Receivable	(1,349)
Contract with Customer, Non-current Asset, Reclassified to Receivable	(173)
Change in contract assets	(1,522)
Current Contract Liabilities	2,332	2,583
Non-current contract liabilities	1,130	1,589
Contract liability	3,462	4,172
Contract with Customer, Current Liability, Revenue Recognized	(251)
Contract with Customer, Non-current Liability, Revenue Recognized	(459)
Change in contract assets (liabilities)	(710)
Contract asset (liabilities), net	1,273	$ 2,085
Change in contract liabilities	$ (812)

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Revenue, Remaining Performance Obligation) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Term of Contract	2 years
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Term of Contract	8 years
Demand fee contracts [Member] | Mid-Stream [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	$ (1,273)
Demand fee contracts [Member] | Mid-Stream [Member] | 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	(2,689)
Demand fee contracts [Member] | Mid-Stream [Member] | 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Impact to Revenue	1,380
Demand fee contracts [Member] | Mid-Stream [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) - Drilling [Member]	3 Months Ended
	Mar. 31, 2021contract
Segment Reporting Information [Line Items]
Number of Contracts, Daywork	6
Short-term Contract with Customer [Member]
Segment Reporting Information [Line Items]
Contract Duration	2 months
Long-term Contract with Customer [Member]
Segment Reporting Information [Line Items]
Contract Duration	1 year

Divestitures (Narrative) (Detai

Divestitures (Narrative) (Details) - Oil and Natural Gas [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Proceeds from Sale of Other Assets	$ 7,100
Proceeds from non-core oil and natural gas asset sales, net of related expenses	$ 1,700	$ 600

Earnings (Loss) Per Share (Sche

Earnings (Loss) Per Share (Schedule of Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings (loss) of basic income (loss) attributable to Unit Corporation per common share	$ (1,937)	$ (770,494)
Weighted shares of basic earnings (loss) attributable to Unit Corporation per common share	12,000	53,131
Per-Share amount of basic earnings (loss) attributable to Unit Corporation per common share	$ (0.16)	$ (14.50)

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accrued Liabilities [Abstract]
Employee costs	$ 6,198	$ 8,878
Lease operating expenses	6,114	6,405
Capital expenditures	5,212	3,461
Taxes	3,396	2,324
Interest payable	300	884
Legal settlement	0	2,070
Other	1,888	1,182
Total accrued liabilities	$ 23,108	$ 25,204

Long-Term Debt And Other Long_3

Long-Term Debt And Other Long-Term Liabilities (Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Long-term debt:
Long-term debt	$ 78,200	$ 98,400
Exit Credit Agreement
Long-term debt:
Revolving credit facility interest rate	6.70%	6.60%
Exit Credit Agreement | Current portion of long-term debt
Current portion of long-term debt:
Line of Credit, Current	$ 800	$ 600
Exit Credit Agreement | Long-term Debt
Long-term debt:
Long-term debt	$ 78,200	$ 98,400

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, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Asset retirement obligation (ARO) liability	$ 23,843	$ 23,356	$ 63,819	$ 66,627
Workers' compensation	11,735	10,164
Finance lease obligations	2,149	3,216
Contract liability	3,462	4,172
Separation benefit plans	3,859	4,201
Gas balancing liability	4,238	3,997
Other long-term liability	1,320	1,321
Other liabilities	50,606	50,427
Current portion of other long-term liabilities	10,418	11,168
Total other long-term liabilities	$ 40,188	$ 39,259

Long-Term Debt And Other Long_5

Long-Term Debt And Other Long-Term Liabilities (Narrative) (Details) - USD ($) $ in Thousands	Sep. 03, 2020	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt		$ 78,200	$ 98,400
Exit Credit Agreement
Debt Instrument [Line Items]
Current ratio of credit facility	1.00
Interest Coverage Ratio	2.50
Exit Credit Agreement | Long-term Debt
Debt Instrument [Line Items]
Long-term debt		78,200	$ 98,400
Exit Credit Agreement | September 1, 2020 to March 31, 2021 [Member]
Debt Instrument [Line Items]
Net leverage ratio	4
Exit Credit Agreement | April 1, 2021 to June 30, 2022 [Member]
Debt Instrument [Line Items]
Net leverage ratio	3.75
Exit Credit Agreement | July 1, 2022 to September 30, 2022 [Member]
Debt Instrument [Line Items]
Net leverage ratio	3.50
Exit Credit Agreement | Revolving Credit Facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	5.25%
Exit Credit Agreement | Revolving Credit Facility [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.25%
Exit Credit Agreement | Term loan [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	6.25%
Exit Credit Agreement | Term loan [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	5.25%
Exit Credit Agreement | Secured Debt [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Mar. 1, 2024
Exit Credit Agreement | Secured Debt [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum credit amount	$ 140,000
Exit Credit Agreement | Secured Debt [Member] | Term loan [Member]
Debt Instrument [Line Items]
Credit facility maximum credit amount	$ 40,000
Superior Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility maximum credit amount		$ 250,000
Superior Credit Agreement, Term		5 years
Credit facility current credit amount		$ 200,000
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) the Thirty-Day LIBOR Rate (as defined in the Superior credit agreement)) plus the applicable margin of 1.00% to 2.25%.
Commitment fee percentage under credit facility		0.375%
Origination, agency and syndication and other related fees with the credit agreement		$ 1,700
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

Asset Retirement Obligations (S

Asset Retirement Obligations (Schedule Of Asset Retirement Obligations) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
ARO liability, Beginning Balance:		$ 23,356	$ 66,627
Accretion of discount		(461)	(596)
Liability incurred		0	314
Liability settled		(16)	(319)
Liability sold		(2)	(15)
Revision of estimates	[1]	44	(3,384)
ARO, Ending Balance:		23,843	63,819
Less: current portion		2,161	1,470
Total long-term ARO		$ 21,682	$ 62,349
[1]	Plugging liability estimates were revised in 2020 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) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Abstract]
Recognized stock compensation expense	$ 2,500
Tax benefit on stock based compensation	$ 600

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	Sep. 03, 2020shares
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	903,226

Derivatives (Schedule of Deriva

Derivatives (Schedule of Derivatives Outstanding) (Details)	3 Months Ended
	Mar. 31, 2021$ / UnitMMBTUbbl
Natural Gas [Member] | Basis swap [Member] | Apr'21 - Dec'21 [Member] | NGPL Texok [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	30,000
Weighted average price	(0.215)
Natural Gas [Member] | Collar [Member] | Jan'22 - Dec'22 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	35,000
Cap Price	2.68
Floor Price	2.50
Natural Gas [Member] | Swap [Member] | Apr'21 - Oct'21 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	50,000
Weighted average price	2.818
Natural Gas [Member] | Swap [Member] | Nov'21 - Dec'21 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	45,000
Weighted average price	2.900
Natural Gas [Member] | Swap [Member] | Jan'22 - Dec'22 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	5,000
Weighted average price	2.605
Natural Gas [Member] | Swap [Member] | Jan'23 - Dec'23 [Member] | IF - NYMEX (HH) [Member]
Derivative [Line Items]
Hedged volume (MMBtu/day) | MMBTU	22,000
Weighted average price	2.456
Crude Oil [Member] | Swap [Member] | Apr'21 - Dec'21 [Member] | Wti Nymex [Member]
Derivative [Line Items]
Weighted average price	46.16
Hedged Volume (Bbl/day) | bbl	3,373
Crude Oil [Member] | Swap [Member] | Jan'22 - Dec'22 [Member] | Wti Nymex [Member]
Derivative [Line Items]
Weighted average price	42.25
Hedged Volume (Bbl/day) | bbl	2,300
Crude Oil [Member] | Swap [Member] | Jan'23 - Dec'23 [Member] | Wti Nymex [Member]
Derivative [Line Items]
Weighted average price	43.60
Hedged Volume (Bbl/day) | bbl	1,300

Derivatives (Fair Value of Deri

Derivatives (Fair Value of Derivative Instruments and Locations in Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current derivative liability	$ 14,022	$ 1,047
Non-current derivative liability	11,211	4,659
Derivative Liability, Total	$ 25,233	$ 5,706

Derivatives (Effect of Derivati

Derivatives (Effect of Derivative Instruments Recognized in Income Statements, Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	$ (22,831)	$ 483
Cash receipts on derivatives settled	(3,304)	551
Gain (loss) on derivatives [Member] | Commodity Derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	$ (22,831)	$ 483

Fair Value Measurements (Recurr

Fair Value Measurements (Recurring Fair Value Measurements) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability	$ (25,233)	$ (5,706)
Commodity Derivatives [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0	0
Derivative Liability	(25,233)	(5,706)
Financial assets (liabilities)	(25,233)	(5,706)
Commodity Derivatives [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross Assets	1,899	3,436
Gross Liabilities	(27,132)	(9,142)
Financial assets (liabilities)	(25,233)	(5,706)
Commodity Derivatives [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross Assets	0	0
Gross Liabilities	0	0
Financial assets (liabilities)	0	0
Commodity Derivatives [Member] | Effect of Netting [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Effect of netting on assets	(1,899)	(3,436)
Effect of netting on liabilities	1,899	3,436
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, 2021	Mar. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning of period	$ 0	$ 1,204
Included in earnings	0	563
Settlements	0	(819)
End of period	0	948
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	$ 0	$ (256)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral posted	$ 0
Warrant liability	$ 885	$ 885

Leases (Operating leases) (Deta

Leases (Operating leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Ending March 31,
2022	$ 3,760
2023	661
2024	29
2025	12
2026	12
2027 and beyond	60
Total future payments	4,534
Less: Interest	145
Present value of future minimum operating lease payments	4,389
Less: current portion	(3,648)	$ (4,075)
Operating lease liability	$ 741	$ 1,445

Leases (Finance leases) (Detail

Leases (Finance leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Ending March 31,
2022	$ 2,226
Total future payments	2,226
Less payments related to:
Maintenance	72
Interest	5
Present value of future minimum finance lease payments	2,149	$ 3,216
Less: Current portion	(2,149)	(3,216)
Total long-term finance lease payments	$ 0	$ 0

Leases (Schedule of lease asset

Leases (Schedule of lease assets and liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating right of use asset	$ 4,443	$ 5,592
Finance right of use assets	7,032	7,281
Total right of use assets	11,475	12,873
Current operating lease liability	3,648	4,075
Current finance lease liability	2,149	3,216
Operating lease liability	741	1,445
Finance lease liability	0	0
Total lease liability	$ 6,538	$ 8,736

Leases (Schedule of lease costs

Leases (Schedule of lease costs) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Amortization of finance leased assets		$ 1,067	$ 1,025
Interest on finance lease liabilities		29	70
Operating lease cost		1,047	1,244
Short-term lease cost	[1]	1,444	3,991
Variable lease cost		58	82
Total lease cost		3,645	6,412
Capitalized costs included in short-term lease costs		$ 100	$ 1,000
[1]	Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.1 million and $1.0 million for the first three months of 2021 and 2020, respectively

Leases (Supplemental cash flow

Leases (Supplemental cash flow information related to leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating cash flows for operating leases	$ 1,048	$ 1,333
Financing cash flows for finance leases	$ 1,067	$ 1,025

Leases (Schedule of weighted av

Leases (Schedule of weighted average discount rate for leases) (Details)	Mar. 31, 2021
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	1 year 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	4.30%
Finance Lease, Weighted Average Remaining Lease Term	4 months 24 days
Finance Lease, Weighted Average Discount Rate, Percent	4.00%

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)rig
Leases [Abstract]
Number of compressors under finance lease agreement | rig	20
Finance lease term	7 years
Finance Lease Obligations, Current	$ 2,100
Discount rate finance leases	4.00%
Maintenance	$ 72
Finance lease fair market value percentage for purchase	10.00%

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	Feb. 26, 2021	Jan. 31, 2019	Mar. 31, 2021	Dec. 31, 2020	Aug. 21, 2020
Long-term Purchase Commitment [Line Items]
Legal settlement			$ 0	$ 2,070
Litigation Settlement, Amount Awarded to Other Party	$ 2,100	$ 2,400
Cockerell Oil Properties, Ltd., v. Unit Petroleum Company [Member]
Long-term Purchase Commitment [Line Items]
Legal settlement					$ 15,750
Chieftan Royalty Company v. Unit Petroleum Company [Member]
Long-term Purchase Commitment [Line Items]
Legal settlement					$ 29,250
Mid-Stream [Member]
Long-term Purchase Commitment [Line Items]
Other Commitment, Due in Next Twelve Months			800
Other Commitment, Due in Second and Third Year			$ 300
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 (see Note 15 – Variable Interest Entity Arrangements), we entered into a contractual obligation committing us to spend $150.0 million to drill wells in the Granite Wash/Buffalo Wallow area over three years starting January 1, 2019. 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 ownership interest in our consolidated mid-stream subsidiary. At March 31, 2021, 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 $72.6 million.
Long-term purchase commitment, purchases made			$ 24,800

Variable Interest Entity Arra_3

Variable Interest Entity Arrangements (Schedule of Assets and Liabilities) (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents		$ 25,188	$ 12,145	$ 40,994	$ 571
Accounts receivable, net of allowance for doubtful accounts		59,863	57,846
Prepaid expenses and other		8,444	11,212
Total current assets		93,529	82,922
Property and equipment:
Gas gathering and processing equipment		252,463	251,404
Transportation equipment		3,335	3,130
Property, plant, and equipment, gross		601,198	600,989
Less accumulated depreciation, depletion, amortization, and impairment		71,921	54,189
Net property and equipment		529,277	546,800
Operating right of use asset		4,443	5,592
Other assets		15,616	14,389
Total assets	[1]	642,865	649,703
Current liabilities:
Accounts payable		34,552	37,368
Accrued liabilities		23,108	25,204
Current operating lease liability		3,648	4,075
Current portion of other long-term liabilities		10,418	11,168
Total current liabilities		87,433	80,347
Long-term debt		78,200	98,400
Operating lease liability		741	1,445
VIE [Member]
Current assets:
Cash and cash equivalents		24,687	11,642
Accounts receivable, net of allowance for doubtful accounts		25,890	27,427
Prepaid expenses and other		5,157	6,746
Total current assets		55,734	45,815
Property and equipment:
Gas gathering and processing equipment		252,463	251,403
Transportation equipment		1,822	1,748
Property, plant, and equipment, gross		254,285	253,151
Less accumulated depreciation, depletion, amortization, and impairment		18,673	10,466
Net property and equipment		235,612	242,685
Operating right of use asset		2,384	2,823
Other assets		1,663	2,309
Total assets		295,393	293,632
Current liabilities:
Accounts payable		20,200	17,045
Accrued liabilities		3,164	3,777
Current operating lease liability		1,771	1,762
Current portion of other long-term liabilities		4,481	5,799
Total current liabilities		29,616	28,383
Operating lease liability		566	1,013
Other long-term liabilities		1,130	1,589
Total liabilities		$ 31,312	$ 30,985
[1]	Unit Corporation's consolidated total assets as of March 31, 2021 include total current and long-term assets of its variable interest entity (VIE) (Superior Pipeline Company, L.L.C.) of $55.7 million and $239.7 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of March 31, 2021 include total current and long-term liabilities of the VIE of $29.6 million and $1.7 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, 2020 include total current and long-term assets of the VIE of $45.8 million and $247.8 million, respectively, which can only settle obligations of the VIE. Unit Corporation's consolidated total liabilities as of December 31, 2020 include total current and long-term liabilities of the VIE of $28.4 million and $2.6 million, respectively, for which the creditors of the VIE have no recourse to Unit Corporation. See Note 15 – Variable Interest Entity Arrangements.

Variable Interest Entity Arra_4

Variable Interest Entity Arrangements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Apr. 03, 2018
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. Under the MSA, Unit 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.
Liquidation IRR Hurdle	7.00%
Variable Interest Investment		$ 300,000,000
VIE [Member]
Variable Interest Entity [Line Items]
Date Involvement Began	Apr. 3, 2018
SP Investor Holdings, LLC [Member] | VIE [Member]
Variable Interest Entity [Line Items]
Ownership Percentage	50.00%
SPC Midstream Operating, L.L.C. [Member] | VIE [Member]
Variable Interest Entity [Line Items]
Monthly service fee	$ 263,280

Industry Segment Information (I

Industry Segment Information (Industry Segment Information) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021		Mar. 31, 2020
Revenues:
Revenues	$ 120,897,000		$ 122,376,000
Operating costs:
Operating costs	71,563,000		83,723,000
Depreciation, depletion, and amortization	17,511,000		61,617,000
Impairments	0		741,924,000
Total expenses	89,074,000		887,264,000
Loss on abandonment of assets	0		17,554,000
General and administrative	6,289,000		11,553,000
(Gain) loss on disposition of assets	(472,000)		390,000
Income (loss) from operations	26,006,000		(794,385,000)
Gain (loss) on derivatives	(22,831,000)		483,000
Interest, net	(2,706,000)		(13,257,000)
Reorganization Items	(1,136,000)		0
Other	76,000		60,000
Income (loss) before income taxes	(591,000)		(807,099,000)
Intersegment Eliminations
Revenues:
Revenues	(9,412,000)		(5,460,000)
Operating costs:
Operating costs	(9,412,000)		(5,460,000)
Depreciation, depletion, and amortization	0		0
Impairments			0
Total expenses	(9,412,000)		(5,460,000)
Loss on abandonment of assets			0
General and administrative	0		0
(Gain) loss on disposition of assets	0		0
Income (loss) from operations	0		0
Gain (loss) on derivatives	0		0
Interest, net	0		0
Reorganization Items	0
Other	0		0
Income (loss) before income taxes	0		0
Oil and Natural Gas [Member]
Revenues:
Revenues	55,025,000		48,524,000
Operating costs:
Operating costs	19,993,000		31,415,000
Depreciation, depletion, and amortization	7,655,000		36,728,000
Impairments			267,836,000
Total expenses	27,648,000		335,979,000
Loss on abandonment of assets			17,554,000
General and administrative	0		0
(Gain) loss on disposition of assets	(19,000)		(13,000)
Income (loss) from operations	27,396,000		(304,996,000)
Gain (loss) on derivatives	0		0
Interest, net	0		0
Reorganization Items	0
Other	57,000		18,000
Income (loss) before income taxes	27,453,000		(304,978,000)
Contract drilling [Member]
Revenues:
Revenues	15,674,000		36,632,000
Operating costs:
Operating costs	11,871,000		25,449,000
Depreciation, depletion, and amortization	1,575,000		11,745,000
Impairments			410,126,000
Total expenses	13,446,000		447,320,000
Loss on abandonment of assets			0
General and administrative	0		0
(Gain) loss on disposition of assets	(529,000)		409,000
Income (loss) from operations	2,757,000		(411,097,000)
Gain (loss) on derivatives	0		0
Interest, net	0		0
Reorganization Items	0
Other	5,000		17,000
Income (loss) before income taxes	2,762,000		(411,080,000)
Mid-Stream [Member]
Revenues:
Revenues	59,610,000		42,680,000
Operating costs:
Operating costs	49,111,000		32,319,000
Depreciation, depletion, and amortization	8,032,000		12,273,000
Impairments			63,962,000
Total expenses	57,143,000		108,554,000
Loss on abandonment of assets			0
General and administrative	0		0
(Gain) loss on disposition of assets	75,000		(6,000)
Income (loss) from operations	2,392,000		(65,868,000)
Gain (loss) on derivatives	0		0
Interest, net	(1,057,000)		(518,000)
Reorganization Items	0
Other	12,000		18,000
Income (loss) before income taxes	1,347,000		(66,368,000)
Corporate and Other [Member]
Revenues:
Revenues	0		0
Operating costs:
Operating costs	0		0
Depreciation, depletion, and amortization	249,000		871,000
Impairments			0
Total expenses	249,000		871,000
Loss on abandonment of assets			0
General and administrative	6,289,000		11,553,000
(Gain) loss on disposition of assets	1,000		0
Income (loss) from operations	(6,539,000)		(12,424,000)
Gain (loss) on derivatives	(22,831,000)		483,000
Interest, net	(1,649,000)		(12,739,000)
Reorganization Items	(1,136,000)
Other	2,000		7,000
Income (loss) before income taxes	(32,153,000)		(24,673,000)
Oil and natural gas
Revenues:
Revenues	55,024,000		48,522,000
Operating costs:
Operating costs	19,149,000		30,663,000
Oil and natural gas | Intersegment Eliminations
Revenues:
Revenues	(1,000)	[1]	(2,000)
Operating costs:
Operating costs	(844,000)		(752,000)
Oil and natural gas | Oil and Natural Gas [Member]
Revenues:
Revenues	55,025,000	[1]	48,524,000
Operating costs:
Operating costs	19,993,000		31,415,000
Oil and natural gas | Contract drilling [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Oil and natural gas | Mid-Stream [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Oil and natural gas | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Contract drilling
Revenues:
Revenues	15,674,000		36,632,000
Operating costs:
Operating costs	11,871,000		25,449,000
Contract drilling | Intersegment Eliminations
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Contract drilling | Oil and Natural Gas [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Contract drilling | Contract drilling [Member]
Revenues:
Revenues	15,674,000	[1]	36,632,000
Operating costs:
Operating costs	11,871,000		25,449,000
Contract drilling | Mid-Stream [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Contract drilling | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Gas gathering and processing
Revenues:
Revenues	50,199,000		37,222,000
Operating costs:
Operating costs	40,543,000		27,611,000
Gas gathering and processing | Intersegment Eliminations
Revenues:
Revenues	(9,411,000)	[1]	(5,458,000)
Operating costs:
Operating costs	(8,568,000)		(4,708,000)
Gas gathering and processing | Oil and Natural Gas [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Gas gathering and processing | Contract drilling [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	0		0
Gas gathering and processing | Mid-Stream [Member]
Revenues:
Revenues	59,610,000	[1]	42,680,000
Operating costs:
Operating costs	49,111,000		32,319,000
Gas gathering and processing | Corporate and Other [Member]
Revenues:
Revenues	0	[1]	0
Operating costs:
Operating costs	$ 0		$ 0
[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_3

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Statements of Income) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 120,897,000	$ 122,376,000
Expenses:
Operating costs	71,563,000	83,723,000
Depreciation, depletion, and amortization	17,511,000	61,617,000
Impairments	0	741,924,000
Loss on abandonment of assets	0	17,554,000
General and administrative	6,289,000	11,553,000
Loss on disposition of assets	(472,000)	390,000
Total operating costs	94,891,000	916,761,000
Income (loss) from operations	26,006,000	(794,385,000)
Interest, net	(2,706,000)	(13,257,000)
Gain (loss) on derivatives	(22,831,000)	483,000
Other, net	76,000	60,000
Income (loss) before income taxes	(591,000)	(807,099,000)
Income tax expense (benefit)	0	(3,425,000)
Equity in net earnings from investment in subsidiaries, net of taxes		0
Net Income (loss)	(591,000)	(803,674,000)
Less: net income (loss) attributable to non-controlling interest	1,346,000	(33,180,000)
Net loss attributable to Unit Corporation	$ (1,937,000)	(770,494,000)
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues		(5,458,000)
Expenses:
Operating costs		(5,458,000)
Depreciation, depletion, and amortization		0
Impairments		0
Loss on abandonment of assets		0
General and administrative		0
Loss on disposition of assets		0
Total operating costs		(5,458,000)
Income (loss) from operations		0
Interest, net		0
Gain (loss) on derivatives		0
Other, net		0
Income (loss) before income taxes		0
Income tax expense (benefit)		0
Equity in net earnings from investment in subsidiaries, net of taxes		790,554,000
Net Income (loss)		790,554,000
Less: net income (loss) attributable to non-controlling interest		33,180,000
Net loss attributable to Unit Corporation		757,374,000
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues		0
Expenses:
Operating costs		0
Depreciation, depletion, and amortization		871,000
Impairments		0
Loss on abandonment of assets		0
General and administrative		0
Loss on disposition of assets		0
Total operating costs		871,000
Income (loss) from operations		(871,000)
Interest, net		(12,739,000)
Gain (loss) on derivatives		483,000
Other, net		7,000
Income (loss) before income taxes		(13,120,000)
Income tax expense (benefit)		0
Equity in net earnings from investment in subsidiaries, net of taxes		(790,554,000)
Net Income (loss)		(803,674,000)
Less: net income (loss) attributable to non-controlling interest		(33,180,000)
Net loss attributable to Unit Corporation		(770,494,000)
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues		85,154,000
Expenses:
Operating costs		56,864,000
Depreciation, depletion, and amortization		48,473,000
Impairments		677,962,000
Loss on abandonment of assets		17,554,000
General and administrative		11,553,000
Loss on disposition of assets		396,000
Total operating costs		812,802,000
Income (loss) from operations		(727,648,000)
Interest, net		0
Gain (loss) on derivatives		0
Other, net		35,000
Income (loss) before income taxes		(727,613,000)
Income tax expense (benefit)		(3,425,000)
Equity in net earnings from investment in subsidiaries, net of taxes		0
Net Income (loss)		(724,188,000)
Less: net income (loss) attributable to non-controlling interest		0
Net loss attributable to Unit Corporation		(724,188,000)
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues		42,680,000
Expenses:
Operating costs		32,317,000
Depreciation, depletion, and amortization		12,273,000
Impairments		63,962,000
Loss on abandonment of assets		0
General and administrative		0
Loss on disposition of assets		(6,000)
Total operating costs		108,546,000
Income (loss) from operations		(65,866,000)
Interest, net		(518,000)
Gain (loss) on derivatives		0
Other, net		18,000
Income (loss) before income taxes		(66,366,000)
Income tax expense (benefit)		0
Equity in net earnings from investment in subsidiaries, net of taxes		0
Net Income (loss)		(66,366,000)
Less: net income (loss) attributable to non-controlling interest		(33,180,000)
Net loss attributable to Unit Corporation		$ (33,186,000)

Supplemental Condensed Consol_4

Supplemental Condensed Consolidated Financial Information (Condensed Consolidating Statements of Cash Flows (Unaudited)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$ 30,304	$ 29,912
INVESTING ACTIVITIES:
Capital expenditures	(2,034)	(17,528)
Producing properties and other acquisitions	0	(210)
Proceeds from disposition of property and equipment	4,462	1,751
Net cash provided by (used in) investing activities	2,428	(15,987)
FINANCING ACTIVITIES:
Borrowings under line of credit	2,700	71,400
Payments under line of credit	(22,700)	(35,100)
Intercompany borrowings (advances), net		0
Net payments on finance leases	(1,067)	(1,026)
Employee taxes paid by withholding shares	0	(43)
Bank overdrafts	809	(8,733)
Net cash provided by (used in) financing activities	(20,258)	26,498
Net increase in cash and cash equivalents	12,474	40,423
Cash, restricted cash, and cash equivalents, beginning of period	12,145	571
Cash, restricted cash, and cash equivalents, end of period	$ 25,188	40,994
Consolidating Adjustments [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		0
INVESTING ACTIVITIES:
Capital expenditures		0
Producing properties and other acquisitions		0
Proceeds from disposition of property and equipment		0
Net cash provided by (used in) investing activities		0
FINANCING ACTIVITIES:
Borrowings under line of credit		0
Payments under line of credit		0
Intercompany borrowings (advances), net		0
Net payments on finance leases		0
Employee taxes paid by withholding shares		0
Bank overdrafts		0
Net cash provided by (used in) financing activities		0
Net increase in cash and cash equivalents		0
Cash, restricted cash, and cash equivalents, beginning of period		0
Cash, restricted cash, and cash equivalents, end of period		0
Parent [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		(66,578)
INVESTING ACTIVITIES:
Capital expenditures		(421)
Producing properties and other acquisitions		0
Proceeds from disposition of property and equipment		0
Net cash provided by (used in) investing activities		(421)
FINANCING ACTIVITIES:
Borrowings under line of credit		39,300
Payments under line of credit		(23,500)
Intercompany borrowings (advances), net		75,016
Net payments on finance leases		0
Employee taxes paid by withholding shares		(43)
Bank overdrafts		(7,269)
Net cash provided by (used in) financing activities		83,504
Net increase in cash and cash equivalents		16,505
Cash, restricted cash, and cash equivalents, beginning of period		503
Cash, restricted cash, and cash equivalents, end of period		17,008
Combined Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		86,663
INVESTING ACTIVITIES:
Capital expenditures		(13,051)
Producing properties and other acquisitions		(210)
Proceeds from disposition of property and equipment		1,700
Net cash provided by (used in) investing activities		(11,561)
FINANCING ACTIVITIES:
Borrowings under line of credit		0
Payments under line of credit		0
Intercompany borrowings (advances), net		(75,089)
Net payments on finance leases		0
Employee taxes paid by withholding shares		0
Bank overdrafts		0
Net cash provided by (used in) financing activities		(75,089)
Net increase in cash and cash equivalents		13
Cash, restricted cash, and cash equivalents, beginning of period		68
Cash, restricted cash, and cash equivalents, end of period		81
Combined Non-Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		9,827
INVESTING ACTIVITIES:
Capital expenditures		(4,056)
Producing properties and other acquisitions		0
Proceeds from disposition of property and equipment		51
Net cash provided by (used in) investing activities		(4,005)
FINANCING ACTIVITIES:
Borrowings under line of credit		32,100
Payments under line of credit		(11,600)
Intercompany borrowings (advances), net		73
Net payments on finance leases		(1,026)
Employee taxes paid by withholding shares		0
Bank overdrafts		(1,464)
Net cash provided by (used in) financing activities		18,083
Net increase in cash and cash equivalents		23,905
Cash, restricted cash, and cash equivalents, beginning of period		0
Cash, restricted cash, and cash equivalents, end of period		$ 23,905