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UNIT CORPORATION ANNOUNCES NINTH YEAR OF SIGNIFICANT RESERVE GROWTH

 TULSA, Okla., March 15 /PRNewswire/ -- Unit Corporation (NYSE: UNT) reports record high 1992 oil and gas reserves of 3,308,000 barrels of oil and 64.6 Bcf of natural gas, or 14,090,000 equivalent barrels which represents an 18 percent increase of equivalent reserves over last year. The results are comprised of an 11 percent increase in oil reserves and a 19 percent increase in gas reserves, after production in 1992 of approximately 1.5 million equivalent barrels. During each of the last nine years, Unit has met its objective of replacing production by adding reserves during the year in excess of 150 percent of the current year's production.
 Unit also reported year-end 1992 estimates of future net revenues of $123,118,000 and a 10 percent present value of $76,549,000. These numbers were calculated using Securities and Exchange Commission guidelines which require the use of prices in effect at the date of the report.
 Unit Corp. is a Tulsa-based, publicly-held energy company 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- 3/15/93
 /CONTACT: Philip M. Keeley, senior vice president, Exploration and Production, of Unit, 918-493-7700/
 (UNT)


CO: Unit Corp. ST: Oklahoma IN: OIL SU:

TM -- SF006 -- 6039 03/15/93 12:51 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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