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BRIEF-Unit Corp says $4 earnings per share $0.03
February 23, 2017 / 1:07 PM / 8 months ago

BRIEF-Unit Corp says $4 earnings per share $0.03

Feb 23 (Reuters) - Unit Corp

* Unit corporation reports 2016 fourth quarter & year end results

* Qtrly adjusted earnings per share $0.23

* Q4 earnings per share $0.03

* Q4 revenue $174.3 million versus I/B/E/S view $167.3 million

* Q4 earnings per share view $0.07 -- Thomson Reuters I/B/E/S

* During 2017, Unit’s capital expenditures budget is anticipated to be $227 million, which represents a 32% increase over 2016

* Unit’s oil, natural gas segment’s 2017 production is anticipated to trough in Q1 of 2017, begin growing sequentially in subsequent quarters

* Unit’s 2017 production is expected to decline 5% to 8% year over year from 2016

* “ Commodity price outlook appears to show signs of improvement.”

* Estimated 2016 year-end proved reserves included proved developed reserves of 99.1 MMBOE, or 594.4 BCFE

* Total production for 2016 was 17.3 million barrels of oil equivalent , a 14% decrease from 2015 Source text for Eikon: Further company coverage:

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