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UNIT CORPORATION ANNOUNCES MID-YEAR OPERATION RESULTS

 TULSA, Okla., July 28 /PRNewswire/ -- Unit Corp. (NYSE: UNT) announced today that its wholly owned subsidiaries, Unit Petroleum Co. and Unit Drilling Co., have achieved their operating goals for the first six months of 1993.
 Unit's objective is to replace 150 percent of its oil and natural gas production each year. In the first six months of 1993, the company replaced 169 percent of its production. Approximately 4.8 equivalent Bcf of production was reported for the first half of 1993, a record for the company. Unaudited oil and gas reserves at the end of June were in excess of 87.8 equivalent Bcf, also a record. This increase in reserves is due to the company's focus on its drilling efforts. Seventeen wells have been drilled for the company in the first half of 1993, while 28 additional wells are currently expected to be drilled by year-end.
 The company's contract drilling operations have also shown an increase in activity in 1993. An average of 7.8 rigs were utilized in the first six months of 1993, compared with an average of 4.6 rigs in the first half of 1992, a 70-percent increase.
 Unit Corp. is a Tulsa-based, publicly held energy company and through its wholly owned subsidiaries is engaged in oil and gas exploration, production, transportation, and contract drilling. Unit's common shares are listed on the New York Stock Exchange under the symbol UNT.
 -0- 7/28/93
 /CONTACT: Philip M. Keeley, senior vice president, Exploration & Production, of Unit Corp., 918-493-7700/
 (UNT)


CO: Unit Corp.; Unit Petroleum Co.; Unit Drilling Co. ST: Oklahoma IN: OIL SU:

TM -- SF009 -- 7287 07/28/93 11:59 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:276
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