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Supplemental Condensed Consolidated Financial Information
 6 Months Ended
Jun. 30, 2019
Supplemental Condensed Consolidated Financial Information [Abstract]  
Condensed Consolidated Financial Statements SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
We have no significant assets or operations other than our investments in our subsidiaries. Our wholly owned subsidiaries are the guarantors of our Notes. On April 3, 2018, we sold 50% of the ownership interest in our mid-stream segment, Superior and that company and its subsidiaries are no longer guarantors of the Notes. Instead of providing separate financial statements for each subsidiary issuer and guarantor, we have included the accompanying unaudited condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X.

For purposes of the following footnote:

•we are referred to as "Parent",
•the direct subsidiaries are 100% owned by the Parent and the guarantee is full and unconditional and joint and several and referred to as "Combined Guarantor Subsidiaries", and
•Superior and its subsidiaries and the Operator are referred to as "Non-Guarantor Subsidiaries."

The following unaudited supplemental condensed consolidating financial information reflects the Parent's separate accounts, the combined accounts of the Combined Guarantor Subsidiaries', the combined accounts of the Non-Guarantor Subsidiaries', the combined consolidating adjustments and eliminations, and the Parent's consolidated amounts for the periods indicated.
Condensed Consolidating Balance Sheets (Unaudited)
June 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$508 $159 $2 $— $669 
Accounts receivable, net of allowance for doubtful accounts of $2,494 (Guarantor of $1,289 and Parent of $1,205) 1,775 71,965 22,058 (5,922)89,876 
Materials and supplies— 516 — — 516 
Current derivative asset8,513 — — — 8,513 
Income taxes receivable2,405 — — — 2,405 
Assets held for sale— 19,500 — — 19,500 
Prepaid expenses and other1,990 2,931 4,185 — 9,106 
Total current assets15,191 95,071 26,245 (5,922)130,585 
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties— 6,212,323 — — 6,212,323 
Unproved properties not being amortized
— 336,214 — — 336,214 
Drilling equipment— 1,284,295 — — 1,284,295 
Gas gathering and processing equipment— — 798,503 — 798,503 
Saltwater disposal systems— 69,212 — — 69,212 
Corporate land and building— 59,080 — — 59,080 
Transportation equipment9,731 17,136 3,152 — 30,019 
Other28,824 29,076 — — 57,900 
38,555 8,007,336 801,655 — 8,847,546 
Less accumulated depreciation, depletion, amortization, and impairment
30,652 5,871,078 387,845 — 6,289,575 
Net property and equipment7,903 2,136,258 413,810 — 2,557,971 
Intercompany receivable1,046,308 — — (1,046,308)— 
Goodwill— 62,808 — — 62,808 
Investments1,166,768 — — (1,166,768)— 
Right of use asset58 2,080 6,221 (57)8,302 
Other assets8,731 9,802 15,330 — 33,863 
Total assets$2,244,959 $2,306,019 $461,606 $(2,219,055)$2,793,529 
June 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$10,892 $110,379 $15,779 $(5,921)$131,129 
Accrued liabilities22,080 17,837 5,725 (467)45,175 
Current operating lease liability24 925 3,576 (6)4,519 
Current portion of other long-term liabilities1,083 5,834 6,970 — 13,887 
Total current liabilities34,079 134,975 32,050 (6,394)194,710 
Intercompany debt— 1,046,159 149 (1,046,308)— 
Long-term debt less debt issuance costs749,090 — 7,500 — 756,590 
Non-current derivative liability256 — — — 256 
Operating lease liability34 1,122 2,451 (51)3,556 
Other long-term liabilities14,669 77,088 11,449 (506)102,700 
Deferred income taxes56,471 86,014 — — 142,485 
Shareholders’ equity:
Preferred stock, $1.00 par value, 5,000,000 shares authorized, none issued
— — — — — 
Common stock, $.20 par value, 175,000,000 shares authorized, 55,536,916 shares issued 10,590 — — — 10,590 
Capital in excess of par value638,769 45,921 197,042 (242,963)638,769 
Contributions from Unit— — 1,145 (1,145)— 
Accumulated other comprehensive loss— (487)— — (487)
Retained earnings741,001 915,227 6,461 (921,688)741,001 
Total shareholders’ equity attributable to Unit Corporation
1,390,360 960,661 204,648 (1,165,796)1,389,873 
Non-controlling interests in consolidated subsidiaries— — 203,359 — 203,359 
Total shareholders' equity1,390,360 960,661 408,007 (1,165,796)1,593,232 
Total liabilities and shareholders’ equity$2,244,959 $2,306,019 $461,606 $(2,219,055)$2,793,529 
December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$403 $208 $5,841 $— $6,452 
Accounts receivable, net of allowance for doubtful accounts of $2,531 (Guarantor of $1,326 and Parent of $1,205) 2,539 94,526 36,676 (14,344)119,397 
Materials and supplies— 473 — — 473 
Current derivative asset12,870 — — — 12,870 
Income tax receivable243 1,811 — — 2,054 
Assets held for sale— 22,511 — — 22,511 
Prepaid expenses and other1,993 3,560 1,049 — 6,602 
Total current assets18,048 123,089 43,566 (14,344)170,359 
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties— 6,018,568 — — 6,018,568 
Unproved properties not being amortized
— 330,216 — — 330,216 
Drilling equipment— 1,284,419 — — 1,284,419 
Gas gathering and processing equipment— — 767,388 — 767,388 
Saltwater disposal systems— 68,339 — — 68,339 
Corporate land and building— 59,081 — — 59,081 
Transportation equipment9,273 17,165 3,086 — 29,524 
Other28,584 28,923 — — 57,507 
37,857 7,806,711 770,474 — 8,615,042 
Less accumulated depreciation, depletion, amortization, and impairment
27,504 5,790,481 364,741 — 6,182,726 
Net property and equipment10,353 2,016,230 405,733 — 2,432,316 
Intercompany receivable950,916 — — (950,916)— 
Goodwill— 62,808 — — 62,808 
Investments1,160,444 — — (1,160,444)— 
Other assets8,225 6,793 17,552 — 32,570 
Total assets$2,147,986 $2,208,920 $466,851 $(2,125,704)$2,698,053 
December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$8,697 $122,610 $32,214 $(13,576)$149,945 
Accrued liabilities28,230 16,409 5,493 (468)49,664 
Current portion of other long-term liabilities812 6,563 6,875 — 14,250 
Total current liabilities37,739 145,582 44,582 (14,044)213,859 
Intercompany debt— 948,707 2,209 (950,916)— 
Long-term debt less debt issuance costs644,475 — — — 644,475 
Non-current derivative liability293 — — — 293 
Other long-term liabilities13,134 73,713 14,687 (300)101,234 
Deferred income taxes60,983 83,765 — — 144,748 
Shareholders’ equity:
Preferred stock, $1.00 par value, 5,000,000 shares authorized, none issued— — — — — 
Common stock, $.20 par value, 175,000,000 shares authorized, 54,055,600 shares issued 10,414 — — — 10,414 
Capital in excess of par value628,108 45,921 197,042 (242,963)628,108 
Contributions from Unit— — 792 (792)— 
Accumulated other comprehensive loss— (481)— — (481)
Retained earnings752,840 911,713 4,976 (916,689)752,840 
Total shareholders’ equity attributable to Unit Corporation
1,391,362 957,153 202,810 (1,160,444)1,390,881 
Non-controlling interests in consolidated subsidiaries— — 202,563 — 202,563 
Total shareholders' equity1,391,362 957,153 405,373 (1,160,444)1,593,444 
Total liabilities and shareholders’ equity$2,147,986 $2,208,920 $466,851 $(2,125,704)$2,698,053 
Condensed Consolidating Statements of Operations (Unaudited)

Three Months Ended June 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$— $128,588 $54,630 $(18,072)$165,146 
Expenses:
Operating costs— 73,909 41,550 (17,418)98,041 
Depreciation, depletion, and amortization1,935 52,255 12,102 — 66,292 
General and administrative— 10,064 — — 10,064 
Gain on disposition of assets— (356)(66)— (422)
Total operating costs1,935 135,872 53,586 (17,418)173,975 
Income (loss) from operations(1,935)(7,284)1,044 (654)(8,829)
Interest, net(8,650)— (345)— (8,995)
Gain on derivatives
7,927 — — — 7,927 
Other, net6 — — — 6 
Income (loss) before income taxes(2,652)(7,284)699 (654)(9,891)
Income tax benefit(848)(1,026)— — (1,874)
Equity in net earnings from investment in subsidiaries, net of taxes
(6,705)— — 6,705 — 
Net income (loss)(8,509)(6,258)699 6,051 (8,017)
Less: net income attributable to non-controlling interest— — 492 — 492 
Net income (loss) attributable to Unit Corporation$(8,509)$(6,258)$207 $6,051 $(8,509)
Three Months Ended June 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$— $155,085 $75,406 $(27,188)$203,303 
Expenses:
Operating costs— 70,603 59,786 (26,374)104,015 
Depreciation, depletion, and amortization1,918 45,280 11,175 — 58,373 
General and administrative— 8,655 57 — 8,712 
Gain on disposition of assets— (116)(45)— (161)
Total operating costs1,918 124,422 70,973 (26,374)170,939 
Income (loss) from operations(1,918)30,663 4,433 (814)32,364 
Interest, net(7,425)— (304)— (7,729)
Loss on derivatives(14,461)— — — (14,461)
Other, net5 — — — 5 
Income (loss) before income taxes(23,799)30,663 4,129 (814)10,179 
Income tax expense (benefit)(6,029)7,803 255 — 2,029 
Equity in net earnings from investment in subsidiaries, net of taxes
23,558 — — (23,558)— 
Net income5,788 22,860 3,874 (24,372)8,150 
Less: net income attributable to non-controlling interest— — 2,362 — 2,362 
Net income attributable to Unit Corporation$5,788 $22,860 $1,512 $(24,372)$5,788 
Six Months Ended June 30, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Revenues$— $272,882 $125,139 $(43,184)$354,837 
Expenses:
Operating costs— 145,302 97,679 (41,470)201,511 
Depreciation, depletion, and amortization3,869 100,721 23,828 — 128,418 
General and administrative— 19,805 — — 19,805 
(Gain) loss on disposition of assets(10)1,311 (108)— 1,193 
Total operating costs3,859 267,139 121,399 (41,470)350,927 
Income (loss) from operations(3,859)5,743 3,740 (1,714)3,910 
Interest, net(16,852)— (681)— (17,533)
Gain on derivatives995 — — — 995 
Other, net11 — — — 11 
Income (loss) before income taxes(19,705)5,743 3,059 (1,714)(12,617)
Income tax expense (benefit)(4,547)2,229 — — (2,318)
Equity in net earnings from investment in subsidiaries, net of tax3,145 — — (3,145)— 
Net income (loss)(12,013)3,514 3,059 (4,859)(10,299)
Less: net income attributable to non-controlling interest— — 1,714 — 1,714 
Net income (loss) attributable to Unit Corporation$(12,013)$3,514 $1,345 $(4,859)$(12,013)

Six Months Ended June 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$— $308,894 $150,056 $(50,515)$408,435 
Expenses:
Operating costs— 143,709 118,806 (49,267)213,248 
Depreciation, depletion, and amortization3,836 89,375 22,228 — 115,439 
General and administrative— 16,884 2,590 — 19,474 
Gain on disposition of assets(30)(213)(79)— (322)
Total operating costs3,806 249,755 143,545 (49,267)347,839 
Income (loss) from operations(3,806)59,139 6,511 (1,248)60,596 
Interest, net(17,280)— (453)— (17,733)
Loss on derivatives
(21,223)— — — (21,223)
Other, net11 1 (1)— 11 
Income (loss) before income taxes(42,298)59,140 6,057 (1,248)21,651 
Income tax expense (benefit)(10,668)15,460 844 — 5,636 
Equity in net earnings from investment in subsidiaries, net of tax
45,283 — — (45,283)— 
Net income13,653 43,680 5,213 (46,531)16,015 
Less: net income attributable to non-controlling interest— — 2,362 — 2,362 
Net income attributable to Unit Corporation$13,653 $43,680 $2,851 $(46,531)$13,653 

              
Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited)
Three Months Ended June 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income (loss)
$(8,509)$(6,258)$699 $6,051 $(8,017)
Other comprehensive income (loss), net of taxes:
Unrealized loss on securities, net of tax ($9)
— (30)— — (30)
Comprehensive income (loss)
(8,509)(6,288)699 6,051 (8,047)
Less: Comprehensive income attributable to non-controlling interests
— — 492 — 492 
Comprehensive income (loss) attributable to Unit Corporation
$(8,509)$(6,288)$207 $6,051 $(8,539)

Three Months Ended June 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income
$5,788 $22,860 $3,874 $(24,372)$8,150 
Other comprehensive income, net of taxes:
Unrealized gain on securities, net of tax of $11
— 35 — — 35 
Comprehensive income
5,788 22,895 3,874 (24,372)8,185 
Less: Comprehensive income attributable to non-controlling interests
— — 2,362 — 2,362 
Comprehensive income attributable to Unit Corporation
$5,788 $22,895 $1,512 $(24,372)$5,823 

Six Months Ended June 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income (loss)
$(12,013)$3,514 $3,059 $(4,859)$(10,299)
Other comprehensive income (loss), net of taxes:
Unrealized loss on securities, net of tax of ($2)
— (6)— — (6)
Comprehensive income (loss)
(12,013)3,508 3,059 (4,859)(10,305)
Less: Comprehensive income attributable to non-controlling interests
— — 1,714 — 1,714 
Comprehensive income (loss) attributable to Unit Corporation
$(12,013)$3,508 $1,345 $(4,859)$(12,019)
Six Months Ended June 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income
$13,653 $43,680 $5,213 $(46,531)$16,015 
Other comprehensive income, net of taxes:
Unrealized loss on securities, net of tax of ($47)
— (141)— — (141)
Comprehensive income
13,653 43,539 5,213 (46,531)15,874 
Less: Comprehensive income attributable to non-controlling interests
— — 2,362 — 2,362 
Comprehensive income attributable to Unit Corporation
$13,653 $43,539 $2,851 $(46,531)$13,512 
Condensed Consolidating Statements of Cash Flows (Unaudited)
Six Months Ended June 30, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities
$(8,023)$111,615 $23,943 $(34)$127,501 
INVESTING ACTIVITIES:
Capital expenditures
(100)(212,982)(33,556)— (246,638)
Producing properties and other acquisitions
— (3,313)— — (3,313)
Proceeds from disposition of assets
10 7,247 83 — 7,340 
Net cash used in investing activities
(90)(209,048)(33,473)— (242,611)
FINANCING ACTIVITIES:
Borrowings under credit agreement
238,800 — 32,400 — 271,200 
Payments under credit agreement
(135,300)— (24,900)— (160,200)
Intercompany borrowings (advances), net
(96,311)97,384 (1,107)34 — 
Payments on finance leases
— — (1,980)— (1,980)
Employee taxes paid by withholding shares(4,073)— — — (4,073)
Distributions to non-controlling interest919 — (1,837)— (918)
Book overdrafts
4,183 — 1,115 — 5,298 
Net cash provided by financing activities
8,218 97,384 3,691 34 109,327 
Net increase (decrease) in cash and cash equivalents
105 (49)(5,839)— (5,783)
Cash and cash equivalents, beginning of period
403 208 5,841 — 6,452 
Cash and cash equivalents, end of period
$508 $159 $2 $— $669 

Six Months Ended June 30, 2018
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by operating activities
$(96,111)$145,227 $(16,469)$126,993 $159,640 
INVESTING ACTIVITIES:
Capital expenditures
(13)(173,097)(16,806)— (189,916)
Producing properties and other acquisitions
— (962)— — (962)
Proceeds from disposition of assets
30 23,427 71 — 23,528 
Net cash used in investing activities
17 (150,632)(16,735)— (167,350)
FINANCING ACTIVITIES:
Borrowings under credit agreement
69,200 — 2,000 — 71,200 
Payments under credit agreement
(247,200)— (2,000)— (249,200)
Intercompany borrowings (advances), net
276,460 5,468 (154,935)(126,993)— 
Payments on finance leases
— — (1,901)— (1,901)
Employee taxes paid by withholding shares(4,947)— — — (4,947)
Proceeds from investments of non-controlling interest102,958 — 197,042 — 300,000 
Transaction costs associated with sale of non-controlling interest(2,254)— — — (2,254)
Book overdrafts
(1,581)— — — (1,581)
Net cash provided by (used in) financing activities
192,636 5,468 40,206 (126,993)111,317 
Net increase (decrease) in cash and cash equivalents
96,542 63 7,002 — 103,607 
Cash and cash equivalents, beginning of period
510 191 — — 701 
Cash and cash equivalents, end of period
$97,052 $254 $7,002 $— $104,308