Unit Corp. Lifts 2015 Production Growth Guidance For Oil & Natural Gas Segment

(RTTNews) - Unit Corp. (UNT) announced it is increasing its 2015 year over year production growth guidance for its oil and natural gas segment to 6-8% from its previous guidance of 2-4%. The company's 2015 capital expenditures are expected to be approximately $30 million less than originally budgeted.

Unit Corp., previously stated that it had been notified of a customer's intent to early terminate two of its BOSS drilling rig contracts. The company said it is in discussions with the customer and it appears likely that they will keep one of the BOSS drilling rigs through its remaining term.