Unit Corporation Announces Sale of Its Contract Drilling Business
Businesswireยท2025-10-01 13:15
TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (OTCQX: UNTC) (Company) today announced that it signed and simultaneously closed a definitive agreement to sell its wholly-owned contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company, L.L.C. in an all-cash deal for $120 million. The board of directors of the Company (Board) approved the transaction upon the unanimous recommendation of the strategic transactions committee (Committee), which was comprised of independent dir. ...