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 condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X.

The following 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.


	December 31, 2019
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	503	$	68	$	—	$	—	$	571
Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216)	2,645		64,805		24,653		(9,447)		82,656
Materials and supplies	—		449		—		—		449
Current derivative asset	633		—		—		—		633
Current income tax receivable	1,756		—		—		—		1,756
Assets held for sale	—		5,908		—		—		5,908
Prepaid expenses and other	2,019		3,373		7,686		—		13,078
Total current assets	7,556		74,603		32,339		(9,447)		105,051
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties	—		6,341,582		—		—		6,341,582
Unproved properties not being amortized	—		252,874		—		—		252,874
Drilling equipment	—		1,295,713		—		—		1,295,713
Gas gathering and processing equipment	—		—		824,699		—		824,699
Saltwater disposal systems	—		69,692		—		—		69,692
Corporate land and building	—		59,080		—		—		59,080
Transportation equipment	9,712		16,621		3,390		—		29,723
Other	28,927		29,065		—		—		57,992
	38,639		8,064,627		828,089		—		8,931,355
Less accumulated depreciation, depletion, amortization, and impairment	33,794		6,537,731		407,144		—		6,978,669
Net property and equipment	4,845		1,526,896		420,945		—		1,952,686
Intercompany receivable	1,048,785		—		—		(1,048,785)		—

Investments	865,252		—		—		(865,252)		—

Right of use asset	46		1,733		3,948		(54)		5,673
Other assets	8,107		9,094		9,441		—		26,642
Total assets	$	1,934,591	$	1,612,326	$	466,673	$	(1,923,538)	$	2,090,052


	December 31, 2018
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total 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)	2,328		94,737		36,676		(14,344)		119,397
Materials and supplies	—		473		—		—		473
Current derivative asset	12,870		—		—		—		12,870
Current income tax receivable	243		1,811		—		—		2,054
Assets held for sale	—		22,511		—		—		22,511
Prepaid expenses and other	1,993		3,560		1,049		—		6,602
Total current assets	17,837		123,300		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 equipment	9,273		17,165		3,086		—		29,524
Other	28,584		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 equipment	10,353		2,016,230		405,733		—		2,432,316
Intercompany receivable	950,871		—		—		(950,871)		—
Goodwill	—		62,808		—		—		62,808
Investments	1,362,526		—		—		(1,362,526)		—
Other assets	8,225		6,793		17,552		—		32,570
Total assets	$	2,349,812	$	2,209,131	$	466,851	$	(2,327,741)	$	2,698,053


	December 31, 2018
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	9,466	$	122,608	$	32,215	$	(12,603)	$	151,686
Accrued liabilities	27,505		16,539		5,620		(1,741)		47,923

Current portion of other long-term liabilities	812		6,563		6,875		—		14,250
Total current liabilities	37,783		145,710		44,710		(14,344)		213,859
Intercompany debt	—		948,790		2,081		(950,871)		—

Long-term debt less debt issuance costs	644,475		—		—		—		644,475
Non-current derivative liabilities	293		—		—		—		293
Other long-term liabilities	12,834		73,713		14,687		—		101,234
Deferred income taxes	60,983		83,765		—		—		144,748









Total shareholders' equity	1,593,444		957,153		405,373		(1,362,526)		1,593,444
Total liabilities and shareholders’ equity	$	2,349,812	$	2,209,131	$	466,851	$	(2,327,741)	$	2,698,053


	Year Ended December 31, 2019
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	494,180	$	227,939	$	(47,485)	$	674,634
Expenses:
Operating costs	—		256,024		176,189		(47,485)		384,728
Depreciation, depletion, and amortization	7,707		220,203		47,663		—		275,573
Impairments	—		622,676		3,040		—		625,716
General and administrative	—		38,246		—		—		38,246
(Gain) loss on disposition of assets	(11)		3,673		(160)		—		3,502
Total operating expenses	7,696		1,140,822		226,732		(47,485)		1,327,765
Income (loss) from operations	(7,696)		(646,642)		1,207		—		(653,131)
Interest, net	(35,466)		—		(1,546)		—		(37,012)
Gain on derivatives	4,225		—		—		—		4,225
Other	786		(1,086)		64		—		(236)
Loss before income taxes	(38,151)		(647,728)		(275)		—		(686,154)
Income tax expense (benefit)	7,238		(139,564)		—		—		(132,326)
Equity in net earnings from investment in subsidiaries, net of taxes	(508,439)		—		—		508,439		—
Net loss	(553,828)		(508,164)		(275)		508,439		(553,828)
Less: net income attributable to non-controlling interest	51		—		51		(51)		51
Net loss attributable to Unit Corporation	$	(553,879)	$	(508,164)	$	(326)	$	508,490	$	(553,879)


	Year Ended December 31, 2018
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	619,551	$	312,417	$	(88,687)	$	843,281
Expenses:
Operating costs	—		268,255		251,328		(88,687)		430,896
Depreciation, depletion, and amortization	7,679		191,092		44,834		—		243,605
Impairments	—		147,884		—		—		147,884
General and administrative	—		36,083		2,624		—		38,707
Gain on disposition of assets	(30)		(564)		(110)		—		(704)
Total operating expenses	7,649		642,750		298,676		(88,687)		860,388
Income (loss) from operations	(7,649)		(23,199)		13,741		—		(17,107)
Interest, net	(32,280)		—		(1,214)		—		(33,494)
Loss on derivatives	(3,184)		—		—		—		(3,184)
Other	22		—		—		—		22
Income (loss) before income taxes	(43,091)		(23,199)		12,527		—		(53,763)
Income tax expense (benefit)	(11,962)		(4,064)		2,030		—		(13,996)
Equity in net earnings from investment in subsidiaries, net of taxes	(8,638)		—		—		(8,638)		—
Net income (loss)	(39,767)		(19,135)		10,497		(8,638)		(39,767)
Less: net income attributable to non-controlling interest	5,521		—		5,521		(5,521)		5,521
Net income (loss) attributable to Unit Corporation	$	(45,288)	$	(19,135)	$	4,976	$	(3,117)	$	(45,288)


	Year Ended December 31, 2017
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	534,084	$	277,049	$	(71,493)	$	739,640
Expenses:
Operating costs	—		258,132		220,613		(69,873)		408,872
Depreciation, depletion, and amortization	7,477		158,281		43,499		—		209,257

General and administrative	—		29,440		8,647		—		38,087
(Gain) loss on disposition of assets	(850)		548		(25)		—		(327)
Total operating expenses	6,627		446,401		272,734		(69,873)		655,889
Income (loss) from operations	(6,627)		87,683		4,315		(1,620)		83,751
Interest, net	(37,645)		—		(689)		—		(38,334)
Gain on derivatives	14,732		—		—		—		14,732
Other	21		—		—		—		21
Income (loss) before income taxes	(29,519)		87,683		3,626		(1,620)		60,170
Income tax benefit	(12,599)		(20,881)		(24,198)		—		(57,678)
Equity in net earnings from investment in subsidiaries, net of taxes	134,768		—		—		(134,768)		—
Net income	117,848		108,564		27,824		(136,388)		117,848
Less: net income attributable to non-controlling interest	—		—		—		—		—
Net income attributable to Unit Corporation	$	117,848	$	108,564	$	27,824	$	(136,388)	$	117,848


	Year Ended December 31, 2019
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Net loss	$	(553,828)	$	(508,164)	$	(275)	$	508,439	$	(553,828)
Other comprehensive loss, net of taxes:
Reclassification adjustment for write-down of securities, net of tax of ($47)	—		481		—		—		481
Comprehensive loss	(553,828)		(507,683)		(275)		508,439		(553,347)
Less: Comprehensive income attributable to non-controlling interests	51		—		51		(51)		51
Comprehensive loss attributable to Unit Corporation	$	(553,879)	$	(507,683)	$	(326)	$	508,490	$	(553,398)


	Year Ended December 31, 2018
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Net income (loss)	$	(39,767)	$	(19,135)	$	10,497	$	(8,638)	$	(39,767)
Other comprehensive income, net of taxes:
Unrealized loss on securities, net of tax of ($181)	—		(557)		—		—		(557)
Comprehensive income	(39,767)		(19,692)		10,497		(8,638)		(40,324)
Less: Comprehensive income attributable to non-controlling interests	5,521		—		5,521		(5,521)		5,521
Comprehensive income (loss) attributable to Unit Corporation	$	(45,288)	$	(19,692)	$	4,976	$	(3,117)	$	(45,845)


	Year Ended December 31, 2017
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Net income	$	117,848	$	108,564	$	27,824	$	(136,388)	$	117,848
Other comprehensive income, net of taxes:
Unrealized income on securities, net of tax of $39	—		63		—		—		63
Comprehensive income	117,848		108,627		27,824		(136,388)		117,911
Less: Comprehensive income attributable to non-controlling interests	—		—		—		—		—
Comprehensive income attributable to Unit Corporation	$	117,848	$	108,627	$	27,824	$	(136,388)	$	117,911


	Year Ended December 31, 2019
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(9,681)	$	217,883	$	48,856	$	12,338	$	269,396
INVESTING ACTIVITIES:
Capital expenditures	65		(355,258)		(51,472)		—		(406,665)
Producing property and other oil and natural gas acquisitions	—		(3,653)		—		—		(3,653)
Other acquisitions	—		—		(16,109)		—		(16,109)
Proceeds from disposition of property and equipment	11		31,153		700		—		31,864
Net cash provided by (used in) investing activities	76		(327,758)		(66,881)		—		(394,563)
FINANCING ACTIVITIES:
Borrowings under credit agreements	400,600		—		92,900		—		493,500
Payments under credit agreements	(292,400)		—		(76,400)		—		(368,800)
Intercompany borrowings (advances), net	(97,455)		109,735		58		(12,338)		—
Payments on finance leases	—		—		(4,001)		—		(4,001)
Employee taxes paid by withholding shares	(4,158)		—		—		—		(4,158)
Distributions to non-controlling interest	919		—		(1,837)		—		(918)



Bank overdrafts	2,199		—		1,464		—		3,663
Net cash provided by financing activities	9,705		109,735		12,184		(12,338)		119,286
Net increase in cash and cash equivalents	100		(140)		(5,841)		—		(5,881)
Cash and cash equivalents, beginning of period	403		208		5,841		—		6,452
Cash and cash equivalents, end of period	$	503	$	68	$	—	$	—	$	571


	Year Ended December 31, 2018
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(310,120)	$	324,696	$	12,257	$	325,914	$	352,747
INVESTING ACTIVITIES:
Capital expenditures	236		(400,990)		(45,528)		—		(446,282)
Producing properties and other acquisitions	—		(29,970)		—		—		(29,970)
Proceeds from disposition of property and equipment	30		25,777		103		—		25,910

Net cash used in investing activities	266		(405,183)		(45,425)		—		(450,342)
FINANCING ACTIVITIES:
Borrowings under credit agreement	97,100		—		2,000		—		99,100
Payments under credit agreement	(275,100)		—		(2,000)		—		(277,100)
Intercompany borrowings (advances), net	202,558		80,504		(154,982)		(128,080)		—
Payments on finance leases	—		—		(3,843)		—		(3,843)
Proceeds from investments in non-controlling interest	300,000		—		197,042		(197,042)		300,000
Employee taxes paid by withholding shares	(4,988)		—		—		—		(4,988)
Transaction costs associated with sale of non-controlling interest	(2,503)		—		—		—		(2,503)

Bank overdrafts	(7,320)		—		—		—		(7,320)
Net cash provided by (used in) financing activities	309,747		80,504		39,009		(325,914)		103,346
Net increase in cash and cash equivalents	(107)		17		5,841		—		5,751
Cash and cash equivalents, beginning of period	510		191		—		—		701
Cash and cash equivalents, end of period	$	403	$	208	$	5,841	$	—	$	6,452


	Year Ended December 31, 2017
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
OPERATING ACTIVITIES:
Net cash provided by operating activities	$	3,458	$	223,437	$	43,193	$	—	$	270,088
INVESTING ACTIVITIES:
Capital expenditures	(3,594)		(233,254)		(18,705)		—		(255,553)
Producing properties and other acquisitions	—		(58,026)		—		—		(58,026)
Proceeds from disposition of property and equipment	964		20,674		75		—		21,713
Other	—		(1,500)		—		—		(1,500)
Net cash provided by (used in) investing activities	(2,630)		(272,106)		(18,630)		—		(293,366)
FINANCING ACTIVITIES:
Borrowings under credit agreement	343,900		—		—		—		343,900
Payments under credit agreement	(326,700)		—		—		—		(326,700)
Intercompany borrowings (advances), net	(27,615)		48,484		(20,869)		—		—
Payments on finance leases	—		—		(3,694)		—		(3,694)
Proceeds from common stock issued, net of issue costs	18,623		—		—		—		18,623
Employee taxes paid by withholding shares	(4,132)		—		—		—		(4,132)

Bank overdrafts	(4,911)		—		—		—		(4,911)
Net cash used in financing activities	(835)		48,484		(24,563)		—		23,086
Net increase in cash and cash equivalents	(7)		(185)		—		—		(192)
Cash and cash equivalents, beginning of period	517		376		—		—		893
Cash and cash equivalents, end of period	$	510	$	191	$	—	$	—	$	701