XML 88 R90.htm IDEA: XBRL DOCUMENT v2.4.1.9
Industry Segment Information (Revenue From Different Segments) (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues                          
Oil and natural gas                     $ 740,079,000us-gaap_OilAndGasRevenue $ 649,718,000us-gaap_OilAndGasRevenue $ 567,944,000us-gaap_OilAndGasRevenue
Contract drilling                     566,012,000unt_ContractDrillingRevenuesGross 479,091,000unt_ContractDrillingRevenuesGross 579,368,000unt_ContractDrillingRevenuesGross
Elimination of inter-segment revenue                     (89,495,000)unt_EliminationOfInterSegmentRevenueOfContractDrilling (64,313,000)unt_EliminationOfInterSegmentRevenueOfContractDrilling (49,649,000)unt_EliminationOfInterSegmentRevenueOfContractDrilling
Contract drilling net of inter-segment revenue                     476,517,000unt_ContractDrillingRevenues 414,778,000unt_ContractDrillingRevenues 529,719,000unt_ContractDrillingRevenues
Gas gathering and processing                     445,934,000unt_GasGatheringAndProcessingRevenueGross 378,397,000unt_GasGatheringAndProcessingRevenueGross 290,773,000unt_GasGatheringAndProcessingRevenueGross
Elimination of inter-segment revenue                     (89,586,000)unt_EliminationOfInterSegmentRevenueOfGasGatheringAndProcessing (91,043,000)unt_EliminationOfInterSegmentRevenueOfGasGatheringAndProcessing (73,313,000)unt_EliminationOfInterSegmentRevenueOfGasGatheringAndProcessing
Gas gathering and processing net of inter-segment revenue                     356,348,000us-gaap_GasGatheringTransportationMarketingAndProcessingRevenue 287,354,000us-gaap_GasGatheringTransportationMarketingAndProcessingRevenue 217,460,000us-gaap_GasGatheringTransportationMarketingAndProcessingRevenue
Total revenues 378,551,000us-gaap_Revenues 400,974,000us-gaap_Revenues 405,431,000us-gaap_Revenues 387,988,000us-gaap_Revenues 359,121,000us-gaap_Revenues 333,776,000us-gaap_Revenues 340,421,000us-gaap_Revenues 318,532,000us-gaap_Revenues     1,572,944,000us-gaap_Revenues 1,351,850,000us-gaap_Revenues 1,315,123,000us-gaap_Revenues
Operating Income:                          
Oil and natural gas                     199,392,000unt_OilAndNaturalGasOperatingIncomeLoss [1] 239,219,000unt_OilAndNaturalGasOperatingIncomeLoss (77,221,000)unt_OilAndNaturalGasOperatingIncomeLoss [1]
Contract drilling                     41,896,000unt_ContractDrillingOperatingIncomeLoss [2] 96,304,000unt_ContractDrillingOperatingIncomeLoss 159,188,000unt_ContractDrillingOperatingIncomeLoss
Gas gathering and processing                     2,015,000unt_GasGatheringAndProcessingOperatingIncomeLoss [3] 10,757,000unt_GasGatheringAndProcessingOperatingIncomeLoss 5,780,000unt_GasGatheringAndProcessingOperatingIncomeLoss [3]
Total operating income                     243,303,000us-gaap_OperatingIncomeLoss [4] 346,280,000us-gaap_OperatingIncomeLoss [4] 87,747,000us-gaap_OperatingIncomeLoss [4]
General and administrative                     (42,023,000)us-gaap_GeneralAndAdministrativeExpense (38,323,000)us-gaap_GeneralAndAdministrativeExpense (33,086,000)us-gaap_GeneralAndAdministrativeExpense
Gain on disposition of assets                     8,953,000us-gaap_GainLossOnDispositionOfAssets1 17,076,000us-gaap_GainLossOnDispositionOfAssets1 253,000us-gaap_GainLossOnDispositionOfAssets1
Interest expense, net                     (17,371,000)us-gaap_InterestIncomeExpenseNet (15,015,000)us-gaap_InterestIncomeExpenseNet (14,137,000)us-gaap_InterestIncomeExpenseNet
Gain (loss) on derivatives not designated as hedges and hedge ineffectiveness, net                     30,147,000us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet (8,374,000)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet (1,243,000)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
Other                     (70,000)us-gaap_OtherIncome (175,000)us-gaap_OtherIncome (132,000)us-gaap_OtherIncome
Income before income taxes                     222,939,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 301,469,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 39,402,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Identifiable assets:                          
Oil and natural gas 2,856,833,000unt_OilAndNaturalGasIdentifiableAssets       2,441,792,000unt_OilAndNaturalGasIdentifiableAssets       2,214,029,000unt_OilAndNaturalGasIdentifiableAssets   2,856,833,000unt_OilAndNaturalGasIdentifiableAssets 2,441,792,000unt_OilAndNaturalGasIdentifiableAssets 2,214,029,000unt_OilAndNaturalGasIdentifiableAssets
Contract drilling 1,059,980,000unt_ContractDrillingIdentifiableAssets       1,042,661,000unt_ContractDrillingIdentifiableAssets       1,079,736,000unt_ContractDrillingIdentifiableAssets   1,059,980,000unt_ContractDrillingIdentifiableAssets 1,042,661,000unt_ContractDrillingIdentifiableAssets 1,079,736,000unt_ContractDrillingIdentifiableAssets
Gas gathering and processing 500,255,000unt_GasGatheringAndProcessingIdentifiableAssets       473,717,000unt_GasGatheringAndProcessingIdentifiableAssets       413,708,000unt_GasGatheringAndProcessingIdentifiableAssets   500,255,000unt_GasGatheringAndProcessingIdentifiableAssets 473,717,000unt_GasGatheringAndProcessingIdentifiableAssets 413,708,000unt_GasGatheringAndProcessingIdentifiableAssets
Total identifiable assets 4,417,068,000unt_TotalIdentifiableAssets [5]       3,958,170,000unt_TotalIdentifiableAssets [5]       3,707,473,000unt_TotalIdentifiableAssets [5]   4,417,068,000unt_TotalIdentifiableAssets [5] 3,958,170,000unt_TotalIdentifiableAssets [5] 3,707,473,000unt_TotalIdentifiableAssets [5]
Corporate assets 56,660,000unt_CorporateAssets       64,220,000unt_CorporateAssets       53,647,000unt_CorporateAssets   56,660,000unt_CorporateAssets 64,220,000unt_CorporateAssets 53,647,000unt_CorporateAssets
Total assets 4,473,728,000us-gaap_Assets       4,022,390,000us-gaap_Assets       3,761,120,000us-gaap_Assets   4,473,728,000us-gaap_Assets 4,022,390,000us-gaap_Assets 3,761,120,000us-gaap_Assets
Capital expenditures:                          
Oil and natural gas                     740,262,000unt_CapitalExpenditureOilAndNaturalGasIncludingSaltWaterDisposal [6] 531,233,000unt_CapitalExpenditureOilAndNaturalGasIncludingSaltWaterDisposal [6] 1,145,337,000unt_CapitalExpenditureOilAndNaturalGasIncludingSaltWaterDisposal [6]
Contract drilling                     176,683,000unt_CapitalExpenditureContractDrilling 64,325,000unt_CapitalExpenditureContractDrilling 77,520,000unt_CapitalExpenditureContractDrilling
Gas gathering and processing                     79,268,000unt_CapitalExpenditureGasGatheringAndProcessing [7] 96,085,000unt_CapitalExpenditureGasGatheringAndProcessing 183,162,000unt_CapitalExpenditureGasGatheringAndProcessing
Other                     17,067,000unt_OtherCapitalExpenditure [6] 4,483,000unt_OtherCapitalExpenditure [6] 11,083,000unt_OtherCapitalExpenditure [6]
Total capital expenditures                     1,013,280,000unt_TotalCapitalExpenditures 696,126,000unt_TotalCapitalExpenditures 1,417,102,000unt_TotalCapitalExpenditures
Depreciation, depletion, amortization, and impairment                          
Oil and natural gas depreciation, depletion, and amortization                     276,088,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization 226,498,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization 211,347,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization
Impairment of oil and natural gas properties                 167,700,000us-gaap_ImpairmentOfOilAndGasProperties 115,900,000us-gaap_ImpairmentOfOilAndGasProperties 76,683,000us-gaap_ImpairmentOfOilAndGasProperties 0us-gaap_ImpairmentOfOilAndGasProperties 283,606,000us-gaap_ImpairmentOfOilAndGasProperties
Contract drilling                     159,688,000unt_ContractDrillingDepreciationandImpairment 71,194,000unt_ContractDrillingDepreciationandImpairment 81,007,000unt_ContractDrillingDepreciationandImpairment
Gas Gathering Transportation Marketing And Processing Depreciation, Amortization, and Impairment                     47,502,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment 33,191,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment 24,388,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment
Reclassified salt water disposal expenditures                         17,000,000unt_CapitalExpendituresReclassified
Capital Lease Obligations Incurred                     28,200,000us-gaap_CapitalLeaseObligationsIncurred    
Non-cash ceiling test write-down net of tax                 104,400,000unt_NonCashCeilingTestWriteDownNetOfTax 72,100,000unt_NonCashCeilingTestWriteDownNetOfTax 47,700,000unt_NonCashCeilingTestWriteDownNetOfTax   176,500,000unt_NonCashCeilingTestWriteDownNetOfTax
Impairment of long-lived assets held-for-use                     0us-gaap_ImpairmentOfLongLivedAssetsHeldForUse 0us-gaap_ImpairmentOfLongLivedAssetsHeldForUse  
Drilling Equipment                          
Depreciation, depletion, amortization, and impairment                          
Impairment of long-lived assets held-for-use                     74,300,000us-gaap_ImpairmentOfLongLivedAssetsHeldForUse
/ us-gaap_StatementBusinessSegmentsAxis
= unt_DrillingEquipmentMember
   
Number of drilling rigs removed from service                     31unt_Numberofdrillingrigsremovedfromservice
/ us-gaap_StatementBusinessSegmentsAxis
= unt_DrillingEquipmentMember
   
Gas Gathering and Processing Equipment                          
Depreciation, depletion, amortization, and impairment                          
Impairment of long-lived assets held-for-use                     7,100,000us-gaap_ImpairmentOfLongLivedAssetsHeldForUse
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_GasGatheringAndProcessingEquipmentMember
0us-gaap_ImpairmentOfLongLivedAssetsHeldForUse
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_GasGatheringAndProcessingEquipmentMember
1,200,000us-gaap_ImpairmentOfLongLivedAssetsHeldForUse
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_GasGatheringAndProcessingEquipmentMember
Number of gas gathering systems impaired                     3unt_Numberofgasgatheringsystemsimpaired
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_GasGatheringAndProcessingEquipmentMember
   
Operating Segments [Member]                          
Depreciation, depletion, amortization, and impairment                          
Oil and natural gas depreciation, depletion, and amortization                     276,088,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
226,498,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
211,347,000unt_OilAndNaturalGasDepreciationDepletionAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
Impairment of oil and natural gas properties                     76,683,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[1] 0us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
283,606,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[1]
Contract drilling                     159,688,000unt_ContractDrillingDepreciationandImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[2] 71,194,000unt_ContractDrillingDepreciationandImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
81,007,000unt_ContractDrillingDepreciationandImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
Gas Gathering Transportation Marketing And Processing Depreciation, Amortization, and Impairment                     47,502,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[3] 33,191,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
24,388,000unt_GasGatheringTransportationMarketingAndProcessingDepreciationAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[3]
Other                     3,051,000us-gaap_OtherDepreciationAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
3,024,000us-gaap_OtherDepreciationAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
2,279,000us-gaap_OtherDepreciationAndAmortization
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
Total depreciation, depletion, amortization and impairment                     $ 563,012,000unt_TotalDepreciationDepletionAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
$ 333,907,000unt_TotalDepreciationDepletionAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
$ 602,627,000unt_TotalDepreciationDepletionAmortizationAndImpairment
/ us-gaap_ConsolidationItemsAxis
= us-gaap_OperatingSegmentsMember
[1] In 2014 and 2012, we incurred non-cash ceiling test write-downs of our oil and natural gas properties of $76.7 million and $283.6 million pre-tax ($47.7 million and $176.5 million, net of tax), respectively.
[2] Depreciation, depletion, amortization, and impairment for contract drilling includes a $74.3 million pre-tax write-down for 31 drilling rigs, some older top drives, and certain drill pipe removed from service.
[3] Depreciation, depletion, amortization, and impairment for gas gathering and processing for 2014 includes a $7.1 million pre-tax write-down for three of our systems, Weatherford, Billy Rose, and Spring Creek and for 2012 includes a $1.2 million write-down of our Erick system.
[4] Operating income is total operating revenues less operating expenses, depreciation, depletion, amortization, and impairment and does not include general corporate expenses, (gain) loss on disposition of assets, gain (loss) on non-designated hedges and hedge ineffectiveness, interest expense, other income (loss), or income taxes.
[5] Identifiable assets are those used in Unit’s operations in each industry segment. Corporate assets are principally cash and cash equivalents, short-term investments, corporate leasehold improvements, furniture and equipment.
[6] In 2013, we reclassified salt water disposal capital expenditures out of other and into oil and natural gas of $17.0 million for 2012.
[7] In 2014, we entered into capital leases for $28.2 million.