Unit Corp Q2 revenue rises on higher oil prices - UNTC News | RalliesUnit Corp Q2 revenue rises on higher oil prices
U
UNTC• 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
Key Details
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| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | | $29.65 mln | |
| Q2 EPS | | $1.51 | |
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
