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Unit Corporation
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March 2023 Investor Presentation
| Larry Pinkston | Page 3 of 11 |
April 28, 2024
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Document:
"March 2023 Investor Presentation"
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Investment Highlights • Reserves as of December 1, 2022 1 : • $785 million based on the SEC standardized measure • PDP PV-10: • $957 million based on SEC pricing • $585 million based on forward strip pricing • All 14 BOSS rigs are contracted and operating • Strong balance sheet as of December 1, 2022: • $214 million of cash & cash equivalents • See note below regarding payment of January 202 special dividend • No long-term debt, $5 million bank facility • Free cash flows supportive of both future shareholder returns and potential development opportunities • Substantial tax shield: $1 million of NOL’s as of December 1, 2022 • Dividend policy • Special dividend of $10 per share paid in January 202, totaling $96 million • Quarterly variable dividend going forward, $2.50 per share in Q2 202 • Unit’s ownership interest in Superior Pipeline Company, LLC (Superior) to be sold for $20 million 1 See appendix for reconciliation of reserve values to standardized measure