Unit Corporation (NYSE: UNT) (“Unit”) announced today that it intends to
offer, subject to market and other conditions, $200 million aggregate
principal amount of senior subordinated notes due 2021 in an
underwritten public offering (the “Offering”). Unit intends to use the
net proceeds from the Offering to repay outstanding borrowings under its
credit facility and for general corporate purposes.

BofA Merrill Lynch and BMO Capital Markets will act as joint
book-running managers for the Offering.

The Offering is being made under an effective shelf registration
statement. The Offering may be made only by means of a prospectus
supplement and the accompanying prospectus, copies of which may be
obtained by sending a request to: BofA Merrill Lynch, 4 World Financial
Center, New York, NY 10080, Attention: Preliminary Prospectus
Department, or e-mail Prospectus.Requests@ml.com.
An electronic copy of the prospectus and preliminary prospectus
supplement is available on the Securities and Exchange Commission’s
website at http://www.sec.gov.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sale of these
securities in any state in which the offer, solicitation, or sale would
be unlawful before registration or qualification under the securities
laws of those states.

Unit Corporation is a Tulsa-based, publicly held energy company engaged
through its subsidiaries in oil and natural gas exploration and
production, onshore contract drilling, and the gathering and processing
of natural gas. Unit’s Common Stock is listed on the New York Stock
Exchange under the symbol UNT. For more information about Unit
Corporation, visit its website at http://www.unitcorp.com.

Unit Corporation
David T. Merrill, 918-493-7700
Financial Officer & Treasurer