Supplemental Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2021


	Predecessor
	Three Months Ended June 30, 2020
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	56,159	$	37,719	$	(4,871)	$	89,007
Expenses:
Operating costs	—		93,305		26,671		(4,873)		115,103
Depreciation, depletion, and amortization	607		25,005		10,348		—		35,960
Impairments	—		109,318		—		—		109,318
General and administrative	—		25,814		—		—		25,814
(Gain) loss on disposition of assets	1,479		(593)		(9)		—		877
Total operating costs	2,086		252,849		37,010		(4,873)		287,072
Income (loss) from operations	(2,086)		(196,690)		709		2		(198,065)
Interest, net	(7,066)		—		(542)		—		(7,608)
Write-off of debt issuance costs	(2,426)		—		—		—		(2,426)
Loss on derivatives	(6,937)		—		—		—		(6,937)
Reorganization items, net	(2,205)		(4,822)		—		—		(7,027)
Other, net	4		18		21		—		43
Income (loss) before income taxes	(20,716)		(201,494)		188		2		(222,020)
Income tax benefit	(6,455)		—		—		—		(6,455)
Equity in net earnings from investment in subsidiaries, net of taxes	(201,304)		—		—		201,304		—
Net income (loss)	(215,565)		(201,494)		188		201,306		(215,565)
Less: net income attributable to non-controlling interest	84		—		84		(84)		84
Net income (loss) attributable to Unit Corporation	$	(215,649)	$	(201,494)	$	104	$	201,390	$	(215,649)


	Predecessor
	Six Months Ended June 30, 2020
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
Revenues	$	—	$	141,315	$	80,399	$	(10,331)	$	211,383
Expenses:
Operating costs	—		150,169		58,988		(10,331)		198,826
Depreciation, depletion, and amortization	1,478		73,478		22,621		—		97,577
Impairments	—		787,280		63,962		—		851,242
Loss on abandonment of assets	—		17,554		—		—		17,554
General and administrative	—		37,367		—		—		37,367
(Gain) loss on disposition of assets	1,479		(197)		(15)		—		1,267
Total operating costs	2,957		1,065,651		145,556		(10,331)		1,203,833
Loss from operations	(2,957)		(924,336)		(65,157)		—		(992,450)
Interest, net	(19,805)		—		(1,060)		—		(20,865)
Write-off of debt issuance costs	(2,426)		—		—		—		(2,426)
Loss on derivatives	(6,454)		—		—		—		(6,454)
Reorganization items, net	(2,205)		(4,822)		—		—		(7,027)
Other, net	11		53		39		—		103
Loss before income taxes	(33,836)		(929,105)		(66,178)		—		(1,029,119)
Income tax benefit	(9,880)		—		—		—		(9,880)
Equity in net earnings from investment in subsidiaries, net of taxes	(995,283)		—		—		995,283		—
Net loss	(1,019,239)		(929,105)		(66,178)		995,283		(1,019,239)
Less: net loss attributable to non-controlling interest	(33,096)		—		(33,096)		33,096		(33,096)
Net loss attributable to Unit Corporation	$	(986,143)	$	(929,105)	$	(33,082)	$	962,187	$	(986,143)


	Predecessor
	Six Months Ended June 30, 2020
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Consolidating Adjustments		Total Consolidated
	(In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(201,699)	$	59,486	$	20,117	$	148,563	$	26,467
INVESTING ACTIVITIES:
Capital expenditures	(760)		(13,428)		(9,616)		—		(23,804)
Producing properties and other acquisitions	—		(210)		—		—		(210)
Proceeds from disposition of assets	1,169		3,253		75		—		4,497
Net cash provided by (used in) investing activities	409		(10,385)		(9,541)		—		(19,517)
FINANCING ACTIVITIES:
Borrowings under credit agreement, including borrowings under DIP credit facility	47,300		—		32,100		—		79,400
Payments under credit agreement	(23,500)		—		(14,600)		—		(38,100)
DIP financing costs	(990)		—		—		—		(990)
Intercompany borrowings (advances), net	198,503		(49,169)		(771)		(148,563)		—
Payments on finance leases	—		—		(2,061)		—		(2,061)
Employee taxes paid by withholding shares	(43)		—		—		—		(43)

Bank overdrafts	(7,269)		—		(1,464)		—		(8,733)
Net cash provided by (used in) financing activities	214,001		(49,169)		13,204		(148,563)		29,473
Net increase (decrease) in cash and cash equivalents	12,711		(68)		23,780		—		36,423
Cash and cash equivalents, beginning of period	503		68		—		—		571
Cash and cash equivalents, end of period	$	13,214	$	—	$	23,780	$	—	$	36,994