Unit's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Unit Corporation (UNT)

Q2 2012 Earnings Call

July 31, 2012 11:00 am ET

Executives

Larry D. Pinkston – President and Chief Executive Officer

Brad Guidry – Senior Vice President, Exploration-Unit Petroleum Company

John Cromling – Senior Vice President, Drilling Operations

Robert Parks – Manager & President, Superior Pipeline Company

David T. Merrill – Senior Vice President, Chief Financial Officer and Treasurer

Analysts

James Rollyson – Raymond James & Associates

Brian T. Velie – Capital One Southcoast

Phillip Jungwirth – BMO Capital Markets

Presentation

Operator

Welcome to the Unit Corporation Second Quarter 2012 Earnings Conference Call. My name is John and I will 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 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 potential that the acquisition discussed in this conference call may not close, the impact of current decline in wells being drilled will have on product on production and drilling rig utilization, the productive capabilities of the company's wells, future demand for oil and natural gas, future drilling rig utilization and day rates; projected 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; the number of wells to be drilled by the company's exploration segment; development, operational, implementation and opportunity risks; possible delays caused by limited availability of third-party services needed in the course of its operations; possibility of future growth opportunities and other factors described from time to time in the company's publicly available SEC reports. The company assumes no obligation to update publicly such forward-looking statements whether as a result of new information, future events or otherwise.

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