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UNIT CORPORATION ANNOUNCES SIGNIFICANT RESERVE GROWTH

 UNIT CORPORATION ANNOUNCES SIGNIFICANT RESERVE GROWTH
 TULSA, Okla., Jan. 29 /PRNewswire/ -- Unit Corp. (NYSE: UNT) reports record high 1991 oil and gas reserves of 2,973,000 barrels of oil and 54.3 Bcf of natural gas, or 12,019,000 equivalent barrels which represents a 28 percent increase of equivalent reserves over last year. The results are comprised of an 11 percent increase in oil reserves and a 34 percent increase in gas reserves, after production of approximately 1.3 million equivalent barrels. Unit's record of replacing reserves after production has averaged over 25 percent per year for the last seven years.
 "We are very pleased to announce this year's increase in reserves. It represents the successful execution of our corporate strategy to continue increasing oil and gas reserves through both acquisitions and exploration," stated Philip M. Keeley, Unit's senior vice president of Exploration and Production. "Our acquisition from M.W. Petroleum Corp. in September resulted in an addition of approximately 2.3 million equivalent barrels." Keeley further stated that Unit is currently placing an even greater emphasis on producing property acquisitions in 1992.
 Unit Corp. is a publicly held energy company based in Tulsa. Unit's common shares are listed on the New York Stock Exchange under the symbol UNT.
 -0- 1/29/92
 /CONTACT: Philip M. Keeley of Unit Corp., 918-481-7700/
 (UNT) CO: Unit Corp. ST: Oklahoma IN: OIL SU:


JL -- SF004 -- 4752 01/29/92 12:50 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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