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UNIT CORPORATION ANNOUNCES FIFTH STRAIGHT PROFITABLE QUARTER

UNIT CORPORATION ANNOUNCES FIFTH STRAIGHT PROFITABLE QUARTER
    TULSA, Okla., Nov. 12 /PRNewswire/ --  Unit Corp. (NYSE: UNT) today reported net income of $847,000, $ .04 per share, for the third quarter of l991 as compared to net income of $671,000, $ .03 per share, for the same period in l990.  The improvement was due to primarily better margins in contract drilling operations.
    Net income for the first nine months of l991 was $3,918,000, $ .19 per share, as compared to net income of $20,000 for l990.
    Cash provided by operating activities was $10,369,000 for the nine month period ending Sept. 30, l991, a 7 percent improvement over the same period in l990.
    Unit Corp. is a Tulsa-based, publicly held energy company engaged in oil and gas exploration, productions, transportation, and contract drilling.  Unit's common shares are listed on the New York Stock Exchange under the symbol UNT.
                            UNIT CORP.
                        Three Months Ended        Nine Months Ended
                             Sept. 30                 Sept. 30
                           (In thousands except per share amounts)
                           1991       1990            1991       1990
    Revenues           $  14,459  $  15,844       $  49,248  $  42,427
    Income Before
     Extraordinary Item      552        671           2,673         20
    Net Income               847        671           3,918         20
    Income Per Share
     Before Extraordinary
      Item                   .03        .03             .13         --
    Net Income Per Share     .04        .03             .19         --
    Weighted Average Common
     Shares Outstanding   20,715      20,679          20,712    20,677
     (Both Primary and Fully Diluted)
    -0-                          11/12/91
    /CONTACT:  Larry D. Pinkston of Unit Corp., 918-493-7700/
    (UNT) CO:  Unit Corp. ST:  Oklahoma IN:  OIL SU:  ERN RM -- SF003 -- 3363 11/12/91 10:20 EST
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Publication:PR Newswire
Date:Nov 12, 1991
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