Unit Corp Q2 revenue rises on higher oil prices
Unit Corp Q2 revenue rises on higher oil prices
Overview
U.S. oil and gas producer's Q2 revenue rose yr/yr
Net income from continuing operations was nearly flat yr/yr
Company completed sale of Oklahoma oil and gas assets, repurchased 41,000 shares
Result Drivers
HIGHER OIL PRICES - Co said average realized oil prices rose 29% yr/yr, supporting revenue growth
LOWER PRODUCTION VOLUMES - Total production fell 8% yr/yr, with declines in NGL and natural gas output
ASSET SALE - Co completed sale of certain Oklahoma oil and gas leasehold interests for $17.2 mln
Company press release: ID:nBw2p3dZ7a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $29.65 mln |
|
Q2 EPS |
| $1.51 |
|
Reuters Recommended Reads
Aug 5 - Oil and gas producer W&T Offshore's Q2 revenue rises more than expected on higher prices
Aug 5 - SandRidge Energy Q2 revenue rises 48% on higher output and prices
Aug 6 - ConocoPhillips completes $1.7 bln asset sale, hits divestiture target early
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)