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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 213,975 $ 64,140
Accounts receivable, net of allowance for credit losses of $2,688 and $2,511 at December 31, 2022 and December 31, 2021, respectively [1] 57,776 87,248
Prepaid expenses and other 3,718 5,542
Total current assets 275,469 156,930
Oil and natural gas properties, on the full cost method:    
Proved properties 176,986 225,014
Unproved properties not being amortized 6,953 422
Drilling equipment 76,640 66,058
Gas gathering and processing equipment 0 274,748
Transportation equipment 2,628 4,550
Other 8,691 8,631
Property, plant and equipment, gross, total 271,898 579,423
Less accumulated depreciation, depletion, amortization, and impairment 96,605 128,880
Net property and equipment 175,293 450,543
Equity method investments 1,658 0
Right of use asset (Note 18) 6,551 12,445
Other Assets, Noncurrent 10,284 9,559
Total assets 469,255 629,477
Current liabilities:    
Accounts payable 20,356 58,625
Accrued liabilities (Note 8) 18,716 22,450
Current operating lease liability (Note 18) 1,605 3,791
Current derivative liabilities (Note 16) 23,566 40,876
Warrant liability (Note 16) 0 19,822
Current portion of other long-term liabilities (Note 9) 3,989 5,574
Total current liabilities 68,232 151,138
Long-term debt (Note 9) 0 19,200
Non-current derivative liabilities (Note 16) 0 17,855
Operating lease liability (Note 18) 5,035 8,677
Other long-term liabilities (Note 9) 33,362 32,939
Deferred income taxes (Note 12) 0 0
Commitments and contingencies (Note 20)
Shareholders' equity:    
Common stock, $0.01 par value, 25,000,000 shares authorized: 12,100,356 shares issued and 9,627,964 shares outstanding as of December 31, 2022, and 12,000,000 issued and outstanding as of December 31, 2021 121 120
Treasury Stock, Value (79,399) (51,965)
Capital in excess of par value 252,464 198,171
Retained earnings 189,440 41,071
Total shareholders' equity attributable to Unit Corporation 362,626 187,397
Non-controlling interests in consolidated subsidiaries 0 212,271
Total shareholders' equity 362,626 399,668
Total liabilities and shareholders' equity $ 469,255 $ 629,477
Common stock, shares outstanding 9,627,964 12,000,000
[1] Unit Corporation no longer consolidates the balance sheet of Superior Pipeline Company, L.L.C. (Superior) as of December 31, 2022, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment. Unit Corporation's consolidated total assets as of December 31, 2021 included current and long-term assets of Superior of $61.1 million and $229.5 million, respectively, which could only be used to settle obligations of Superior. Unit Corporation's consolidated cash and cash equivalents of $64.1 million as of December 31, 2021 included $17.2 million held by Superior.