Notes: September 03, 2020 -- Unit Corporation (Company) today announced that it has emerged from Chapter 11 bankruptcy protection. This marks the successful completion of the Company's financial restructuring process along with implementing the Company's Plan of Reorganization (Plan), which was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division on August 6, 2020. The Company will issue a total of 12 million shares of new common stock, par value $0.01 per share. Of the total outstanding shares, 95% will be issued to holders of the Subordinated Notes and holders of certain allowed general unsecured claims, and 5% has been issued to the lenders under the Exit Credit Agreement. <p> May 22, 2020 -- Unit Corporation (NYSE- UNT) (“the Company”) today announced that it has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”) to effectuate a pre-negotiated Chapter 11 plan of reorganization (the “Plan”) that will reduce the Company’s funded debt obligations by more than $650 million and right-size the Company’s balance sheet for go-forward operations The Chapter 11 petitions were filed in accordance with a Restructuring Support Agreement (the “RSA”) between the Company, the holders of more than 70% of the Company’s 6.625% senior subordinated notes due 2021 (the “Subordinated Notes”) and all of the lenders under the Company’s Senior Credit Agreement (the “RBL Lenders”). The RSA sets forth the principal terms of the restructuring transaction that will be effectuated by the Plan, including an equitization of all of the outstanding Subordinated Notes and the replacement of the existing RBL facility and the DIP financing with a $180 million exit financing facility. Consummation of the Plan will be subject to confirmation by the Court and other conditions in the Plan, the RSA and related transaction documents.