Unit Corp to acquire certain oil and natural gas properties from a group of private entities for ~$82.4 mln (UNT) 48.74 : -Update- Co announced that its wholly owned subsidiary, Unit Petroleum Company, has signed a purchase and sale agreement to acquire certain oil and natural gas properties from a group of private entities for ~$82 mln in cash. The acquisition consists of ~42.5 Bcfe of proved oil and natural gas reserves. The properties are located in Oklahoma, Arkansas and Texas and currently produce 6.5 MMcfe per day. The acquisition will have an effective date of July 1, 2005. Closing of the acquisition is anticipated to be mid-November.
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