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SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Condensed Consolidating Statements of Operation) (Details) - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2020
Aug. 31, 2020
Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]      
Revenues   $ 276,957  
Expenses      
Operating costs $ 81,277 237,546 $ 375,581
Depreciation, depletion, and amortization 27,962 115,496 64,326
Impairments 26,063 [1] 867,814 [2] 10,673
Loss on abandonment of assets (Note 4) 0 18,733 0
General and administrative 6,702 42,766 24,915
Gain on disposition of assets (619) (89) (10,877)
Total operating expenses 141,385 1,282,266 464,618
Income (loss) from operations (7,857) (1,005,309) 174,098
Interest, net (3,275) (22,824) (4,266)
Write-off debt issuance costs 0 (2,426) 0
Gain (loss) on derivatives (Note 17) (985) (10,704) (97,615)
Reorganization items, net (Note 25) (2,273) 133,975 (4,294)
Other 100 2,034 (597)
Income (loss) before income taxes (14,290) (905,254) 48,389
Income tax benefit (302) (14,630) 173
Equity in net earnings from investment in subsidiaries, net of taxes   0  
Net income (loss) (13,988) (890,624) 48,216
Less: net income attributable to non-controlling interest 4,152 40,388 (12,431)
Net income (loss) attributable to Unit Corporation $ (18,140) (931,012) $ 60,647
Consolidating Adjustments      
Condensed Financial Statements, Captions [Line Items]      
Revenues   (14,536)  
Expenses      
Operating costs   (14,537)  
Depreciation, depletion, and amortization   0  
Impairments   0  
Loss on abandonment of assets (Note 4)   0  
General and administrative   0  
Gain on disposition of assets   0  
Total operating expenses   (14,537)  
Income (loss) from operations   1  
Interest, net   0  
Write-off debt issuance costs   0  
Gain (loss) on derivatives (Note 17)   0  
Reorganization items, net (Note 25)   0  
Other   0  
Income (loss) before income taxes   1  
Income tax benefit   0  
Equity in net earnings from investment in subsidiaries, net of taxes   1,241,120  
Net income (loss)   1,241,121  
Less: net income attributable to non-controlling interest   (40,388)  
Net income (loss) attributable to Unit Corporation   1,281,509  
Parent      
Condensed Financial Statements, Captions [Line Items]      
Revenues   0  
Expenses      
Operating costs   0  
Depreciation, depletion, and amortization   1,819  
Impairments   0  
Loss on abandonment of assets (Note 4)   0  
General and administrative   0  
Gain on disposition of assets   1,479  
Total operating expenses   3,298  
Income (loss) from operations   (3,298)  
Interest, net   (20,936)  
Write-off debt issuance costs   (2,426)  
Gain (loss) on derivatives (Note 17)   (10,704)  
Reorganization items, net (Note 25)   373,151  
Other   79  
Income (loss) before income taxes   335,866  
Income tax benefit   (14,630)  
Equity in net earnings from investment in subsidiaries, net of taxes   (1,241,120)  
Net income (loss)   (890,624)  
Less: net income attributable to non-controlling interest   40,388  
Net income (loss) attributable to Unit Corporation   (931,012)  
Combined Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Revenues   176,962  
Expenses      
Operating costs   171,476  
Depreciation, depletion, and amortization   84,306  
Impairments   803,852  
Loss on abandonment of assets (Note 4)   18,733  
General and administrative   42,766  
Gain on disposition of assets   (1,550)  
Total operating expenses   1,119,583  
Income (loss) from operations   (942,621)  
Interest, net   0  
Write-off debt issuance costs   0  
Gain (loss) on derivatives (Note 17)   0  
Reorganization items, net (Note 25)   (168,160)  
Other   1,906  
Income (loss) before income taxes   (1,108,875)  
Income tax benefit   0  
Equity in net earnings from investment in subsidiaries, net of taxes   0  
Net income (loss)   (1,108,875)  
Less: net income attributable to non-controlling interest   0  
Net income (loss) attributable to Unit Corporation   (1,108,875)  
Combined Non-Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Revenues   114,531  
Expenses      
Operating costs   80,607  
Depreciation, depletion, and amortization   29,371  
Impairments   63,962  
Loss on abandonment of assets (Note 4)   0  
General and administrative   0  
Gain on disposition of assets   (18)  
Total operating expenses   173,922  
Income (loss) from operations   (59,391)  
Interest, net   (1,888)  
Write-off debt issuance costs   0  
Gain (loss) on derivatives (Note 17)   0  
Reorganization items, net (Note 25)   (71,016)  
Other   49  
Income (loss) before income taxes   (132,246)  
Income tax benefit   0  
Equity in net earnings from investment in subsidiaries, net of taxes   0  
Net income (loss)   (132,246)  
Less: net income attributable to non-controlling interest   40,388  
Net income (loss) attributable to Unit Corporation   $ (172,634)  
[1] During the Successor Period of 2020, we recorded non-cash ceiling test write-downs on our oil and natural gas properties of $26.1 million pre-tax
[2] During the Predecessor Period of 2020, we recorded non-cash ceiling test write-downs on our oil and natural gas properties of $393.7 million, pre-tax ($346.6 million, net of tax). Impairment for contract drilling equipment includes a $410.1 million pre-tax write-down for SCR drilling rigs and other drilling equipment. Impairment for mid-stream assets includes a $10.7 million pre-tax write-down for certain long-lived asset groups.
3.Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets.
4.Identifiable assets are those used in Unit’s operations in each industry segment.
5.Other corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.