8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 31, 2005

Unit Corporation

(Exact name of registrant as specified in its charter)

Delaware	1-9260	73-1283193
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

7130 South Lewis, Suite 1000, Tulsa, Oklahoma	74136
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (918) 493-7700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

___	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
___	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
___	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))

___ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

(17 CFR 240.13e-4(c))

Section 7 – Regulation FD.

Item 7.01 Regulation FD Disclosure.

On August 31, 2005, Unit Corporation announced that its wholly owned subsidiary, Unit Texas Drilling LLC, has closed its acquisition of all the Texas drilling operations of Texas Wyoming Drilling, Inc., a Texas-based privately-owned company, with the exception of one rig which Unit will close on in mid-September. The total purchase price of the acquisition, which includes seven drilling rigs, was $32 million, $20 million to be paid in cash and $12 million issued in stock, representing 246,053 shares. Of the total amount $13.3 million in cash and $12 million issued in stock was paid today. The balance will be paid when Unit takes possession of the seventh rig.

The press release furnished as an exhibit to this report includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, the Company's actual results may differ materially from those indicated or implied by such forward-looking statements.

Section 9 – Financial Statements and Exhibits.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not Applicable.

(b) Pro Forma Financial Information.

Not Applicable.

(c) Exhibits.

99.1 Unit Corporation press release dated August 31, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Unit Corporation
Date: August 31, 2005	By:	/s/ Mark E. Schell
		Mark E. Schell Senior Vice President and General Counsel

1

EXHIBIT INDEX

Exhibit No. Description.

99.1 Unit Corporation press release dated August 31, 2005

EX-99.1

news UNIT CORPORATION

7130 South Lewis Avenue, Tulsa, Oklahoma 74136

Telephone 918 493-7700, Fax 918 493-7711

Contact:	David T. Merrill
	Chief Financial Officer & Treasurer
	(918) 493-7700

For Immediate Release...

August 31, 2005

UNIT CORPORATION ANNOUNCES CLOSING OF RIG ACQUISITION

Tulsa, Oklahoma . . . Unit Corporation (NYSE – UNT) announced today that its wholly owned subsidiary, Unit Texas Drilling LLC, has closed its acquisition of all the Texas drilling operations of Texas Wyoming Drilling, Inc., a Texas-based privately-owned company, with the exception of one rig which Unit will close on in mid-September. The total purchase price of the acquisition, which includes seven drilling rigs, was $32 million, $20 million to be paid in cash and $12 million issued in stock, representing 246,053 shares. Of the total amount $13.3 million in cash and $12 million issued in stock was paid today. The balance will be paid when Unit takes possession of the seventh rig. Of the seven drilling rigs, six are currently operating under contract and the seventh rig is completing refurbishment and is anticipated to be operational by mid-September. The rigs are active in the Barnett Shale area of North Texas. Six of the seven drilling rigs are mechanical, with one being a diesel electric rig, and range from 400 to 1,700 horsepower. At the close of today’s portion of the acquisition, Unit’s rig fleet totaled 110 drilling rigs.

_____________________________________________________________________

Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. Unit’s Common Stock is listed on the New York Stock Exchange under the symbol UNT. For more information about Unit Corporation, visit its website at http://www.unitcorp.com.

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including the risk this acquisition may not close, that the anticipated impact on annual earnings may not be met, the intended operating location of the recently acquired drilling rigs, development, operational, implementation and opportunity risks, and other factors described from time to time in the company’s publicly available SEC reports, which could cause actual results to differ materially from those expected.