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Supplemental Condensed Consolidating Financial Information (Tables)
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Condensed Consolidating Balance Sheet
Condensed Consolidating Balance Sheets
December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal 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 asset633  —  —  —  633  
Current income tax receivable1,756  —  —  —  1,756  
Assets held for sale—  5,908  —  —  5,908  
Prepaid expenses and other2,019  3,373  7,686  —  13,078  
Total current assets7,556  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 equipment9,712  16,621  3,390  —  29,723  
Other28,927  29,065  —  —  57,992  
38,639  8,064,627  828,089  —  8,931,355  
Less accumulated depreciation, depletion, amortization, and impairment33,794  6,537,731  407,144  —  6,978,669  
Net property and equipment4,845  1,526,896  420,945  —  1,952,686  
Intercompany receivable1,048,785  —  —  (1,048,785) —  
Investments865,252  —  —  (865,252) —  
Right of use asset46  1,733  3,948  (54) 5,673  
Other assets8,107  9,094  9,441  —  26,642  
Total assets$1,934,591  $1,612,326  $466,673  $(1,923,538) $2,090,052  
December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$12,259  $61,002  $18,511  $(7,291) $84,481  
Accrued liabilities28,003  14,024  6,691  (2,156) 46,562  
Current operating lease liability20  1,009  2,407  (6) 3,430  
Current portion of long-term debt108,200  —  —  —  108,200  
Current portion of other long-term liabilities3,003  7,313  7,060  —  17,376  
Total current liabilities151,485  83,348  34,669  (9,453) 260,049  
Intercompany debt—  1,047,599  1,186  (1,048,785) —  
Long-term debt less debt issuance costs646,716  —  16,500  —  663,216  
Non-current derivative liabilities27  —  —  —  27  
Operating lease liability25  690  1,404  (48) 2,071  
Other long-term liabilities12,553  74,662  8,126  —  95,341  
Deferred income taxes68,150  (54,437) —  —  13,713  
Total shareholders' equity1,055,635  460,464  404,788  (865,252) 1,055,635  
Total liabilities and shareholders’ equity$1,934,591  $1,612,326  $466,673  $(1,923,538) $2,090,052  
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)2,328  94,737  36,676  (14,344) 119,397  
Materials and supplies—  473  —  —  473  
Current derivative asset12,870  —  —  —  12,870  
Current 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 assets17,837  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 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 impairment27,504  5,790,481  364,741  —  6,182,726  
Net property and equipment10,353  2,016,230  405,733  —  2,432,316  
Intercompany receivable950,871  —  —  (950,871) —  
Goodwill—  62,808  —  —  62,808  
Investments1,362,526  —  —  (1,362,526) —  
Other assets8,225  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
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$9,466  $122,608  $32,215  $(12,603) $151,686  
Accrued liabilities27,505  16,539  5,620  (1,741) 47,923  
Current portion of other long-term liabilities812  6,563  6,875  —  14,250  
Total current liabilities37,783  145,710  44,710  (14,344) 213,859  
Intercompany debt—  948,790  2,081  (950,871) —  
Long-term debt less debt issuance costs644,475  —  —  —  644,475  
Non-current derivative liabilities293  —  —  —  293  
Other long-term liabilities12,834  73,713  14,687  —  101,234  
Deferred income taxes60,983  83,765  —  —  144,748  
Total shareholders' equity1,593,444  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) $2,698,053  
Condensed Consolidating Statements of Operations
Condensed Consolidating Statements of Operations
Year Ended December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Revenues$—  $494,180  $227,939  $(47,485) $674,634  
Expenses:
Operating costs—  256,024  176,189  (47,485) 384,728  
Depreciation, depletion, and amortization7,707  220,203  47,663  —  275,573  
Impairments—  622,676  3,040  —  625,716  
General and administrative—  38,246  —  —  38,246  
(Gain) loss on disposition of assets(11) 3,673  (160) —  3,502  
Total operating expenses7,696  1,140,822  226,732  (47,485) 1,327,765  
Income (loss) from operations(7,696) (646,642) 1,207  —  (653,131) 
Interest, net(35,466) —  (1,546) —  (37,012) 
Gain on derivatives4,225  —  —  —  4,225  
Other786  (1,086) 64  —  (236) 
Loss before income taxes(38,151) (647,728) (275) —  (686,154) 
Income tax expense (benefit)7,238  (139,564) —  —  (132,326) 
Equity in net earnings from investment in subsidiaries, net of taxes(508,439) —  —  508,439  —  
Net loss(553,828) (508,164) (275) 508,439  (553,828) 
Less: net income attributable to non-controlling interest51  —  51  (51) 51  
Net loss attributable to Unit Corporation$(553,879) $(508,164) $(326) $508,490  $(553,879) 


Year Ended December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Revenues$—  $619,551  $312,417  $(88,687) $843,281  
Expenses:
Operating costs—  268,255  251,328  (88,687) 430,896  
Depreciation, depletion, and amortization7,679  191,092  44,834  —  243,605  
Impairments—  147,884  —  —  147,884  
General and administrative—  36,083  2,624  —  38,707  
Gain on disposition of assets(30) (564) (110) —  (704) 
Total operating expenses7,649  642,750  298,676  (88,687) 860,388  
Income (loss) from operations(7,649) (23,199) 13,741  —  (17,107) 
Interest, net(32,280) —  (1,214) —  (33,494) 
Loss on derivatives(3,184) —  —  —  (3,184) 
Other22  —  —  —  22  
Income (loss) before income taxes(43,091) (23,199) 12,527  —  (53,763) 
Income tax expense (benefit)(11,962) (4,064) 2,030  —  (13,996) 
Equity in net earnings from investment in subsidiaries, net of taxes(8,638) —  —  (8,638) —  
Net income (loss)(39,767) (19,135) 10,497  (8,638) (39,767) 
Less: net income attributable to non-controlling interest5,521  —  5,521  (5,521) 5,521  
Net income (loss) attributable to Unit Corporation$(45,288) $(19,135) $4,976  $(3,117) $(45,288) 
Year Ended December 31, 2017
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Revenues$—  $534,084  $277,049  $(71,493) $739,640  
Expenses:
Operating costs—  258,132  220,613  (69,873) 408,872  
Depreciation, depletion, and amortization7,477  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 expenses6,627  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 derivatives14,732  —  —  —  14,732  
Other21  —  —  —  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 taxes134,768  —  —  (134,768) —  
Net income117,848  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) $117,848  
Condensed Consolidating Statement of Comprehensive Income (Loss)
Condensed Consolidating Statements of Comprehensive Income (Loss)
Year Ended December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
Net loss$(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 ($47)—  481  —  —  481  
Comprehensive loss(553,828) (507,683) (275) 508,439  (553,347) 
Less: Comprehensive income attributable to non-controlling interests51  —  51  (51) 51  
Comprehensive loss attributable to Unit Corporation$(553,879) $(507,683) $(326) $508,490  $(553,398) 

Year Ended December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal 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 ($181)—  (557) —  —  (557) 
Comprehensive income(39,767) (19,692) 10,497  (8,638) (40,324) 
Less: Comprehensive income attributable to non-controlling interests5,521  —  5,521  (5,521) 5,521  
Comprehensive income (loss) attributable to Unit Corporation$(45,288) $(19,692) $4,976  $(3,117) $(45,845) 
Year Ended December 31, 2017
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal 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 income117,848  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) $117,911  
Condensed Consolidating Statements of Cash Flows
Condensed Consolidating Statements of Cash Flows
Year Ended December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$(9,681) $217,883  $48,856  $12,338  $269,396  
INVESTING ACTIVITIES:
Capital expenditures65  (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 equipment11  31,153  700  —  31,864  
Net cash provided by (used in) investing activities76  (327,758) (66,881) —  (394,563) 
FINANCING ACTIVITIES:
Borrowings under credit agreements400,600  —  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 interest919  —  (1,837) —  (918) 
Bank overdrafts2,199  —  1,464  —  3,663  
Net cash provided by financing activities9,705  109,735  12,184  (12,338) 119,286  
Net increase in cash and cash equivalents100  (140) (5,841) —  (5,881) 
Cash and cash equivalents, beginning of period403  208  5,841  —  6,452  
Cash and cash equivalents, end of period$503  $68  $—  $—  $571  
Year Ended December 31, 2018
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$(310,120) $324,696  $12,257  $325,914  $352,747  
INVESTING ACTIVITIES:
Capital expenditures236  (400,990) (45,528) —  (446,282) 
Producing properties and other acquisitions—  (29,970) —  —  (29,970) 
Proceeds from disposition of property and equipment30  25,777  103  —  25,910  
Net cash used in investing activities266  (405,183) (45,425) —  (450,342) 
FINANCING ACTIVITIES:
Borrowings under credit agreement97,100  —  2,000  —  99,100  
Payments under credit agreement(275,100) —  (2,000) —  (277,100) 
Intercompany borrowings (advances), net202,558  80,504  (154,982) (128,080) —  
Payments on finance leases—  —  (3,843) —  (3,843) 
Proceeds from investments in non-controlling interest300,000  —  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 activities309,747  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 period510  191  —  —  701  
Cash and cash equivalents, end of period$403  $208  $5,841  $—  $6,452  

Year Ended December 31, 2017
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal 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 equipment964  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 agreement343,900  —  —  —  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 costs18,623  —  —  —  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 period517376—  —  893
Cash and cash equivalents, end of period$510  $191  $—  $—  $701