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Unit CEO Discusses Q2 2011 Results - Earnings Call Transcript

Unit Corporation ( UNT)

Q2 2011 Earnings Call

August 2, 2011 11:00 am ET

Executives

Larry D. Pinkston – President and Chief Executive Officer

Brad J. Guidry – Executive Vice President, Unit Petroleum Company

John Cromling – Executive Vice President , Unit Drilling Company

Robert H. Parks, Jr. – Manager of Superior Pipeline Company LLC

David T. Merrill – Vice President, Finance

Analysts

James Rollyson – Raymond James

Robert Christensen – Buckingham Research

Presentation

Operator

Welcome to the Unit Corporation Second Quarter 2011 Earnings Call. My name is Sandra, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Please note that this conference is being recorded.

This conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements and other than statements of historical facts included in this call that address activities, events, or developments that the company expects or anticipates will or may occur in the future are forward-looking statements.

A number of risks and uncertainties could cause actual results to differ materially from these statements, including the impact that any decline in wells being drilled will have on production and drilling rig utilization; the productive capabilities of the company's wells, including the ability of recently completed wells to maintain their initial rate of production or their projected rate of production; future demand for oil and natural gas, future drilling rig utilization and day rates; projected or anticipated growth of the company's oil and natural gas production; oil and gas reserve information, as well as the ability to meet future reserve replacement goals; anticipated gas gathering and processing rates, and throughput volumes; the prospective capabilities of the reserves associated with the company's inventory of future drilling sites; anticipated oil and natural gas prices.

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