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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 179,063 $ 64,140
Accounts receivable, net of allowance for credit losses of $2,355 and $2,511 at September 30, 2022 and December 31, 2021, respectively 66,461 87,248
Prepaid expenses and other 4,608 5,542
Total current assets 250,132 156,930
Oil and natural gas properties on the full cost method:    
Proved properties 173,413 225,014
Unproved properties not being amortized 4,735 422
Drilling equipment 72,410 66,058
Gas gathering and processing equipment 0 274,748
Transportation equipment 2,712 4,550
Other 8,970 8,631
Property, plant, and equipment, gross 262,240 579,423
Less accumulated depreciation, depletion, amortization, and impairment 91,783 128,880
Net property and equipment 170,457 450,543
Equity method investments 1,658 0
Right of use asset (Note 14) 6,951 12,445
Other assets 9,528 9,559
Total assets 438,726 629,477
Current liabilities:    
Accounts payable 22,395 58,625
Accrued liabilities (Note 8) 20,088 22,450
Current operating lease liability (Note 14) 1,581 3,791
Current derivative liabilities (Note 12) 41,498 40,876
Warrant liability (Note 12) 0 19,822
Current portion of other long-term liabilities (Note 9) 4,144 5,574
Total current liabilities 89,706 151,138
Long-term debt (Note 9) 0 19,200
Non-current derivative liabilities (Note 12) 8,316 17,855
Operating lease liability (Note 14) 5,449 8,677
Other long-term liabilities (Note 9) 31,923 32,939
Commitments and contingencies (Note 16)
Shareholders' equity:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued 0 0
Common stock, $0.01 par value, 25,000,000 shares authorized; 12,083,965 shares issued and 9,611,573 outstanding at September 30, 2022, and 12,000,000 shares issued and 10,050,037 outstanding at December 31, 2021 121 120
Treasury stock (79,399) (51,965)
Capital in excess of par value 252,505 198,171
Retained earnings 130,105 41,071
Total shareholders’ equity attributable to Unit Corporation 303,332 187,397
Non-controlling interests in consolidated subsidiaries 0 212,271
Total shareholders' equity 303,332 399,668
Total liabilities and shareholders' equity $ 438,726 $ 629,477