UNIT CORPORATION Investor Presentation
Unit Petroleum Company
Change in PDP Reserves during 2023
The decrease in estimated quantities of proved developed oil, NGLs, and natural gas reserves
during 2023 was primarily due to divestitures, changes in prices, and current year production.
The table below presents estimated quantities of proved developed oil, NGLs, and natural gas reserves
and changes in net quantities of proved developed and undeveloped oil, NGLS and natural gas reserves:
2023
Proved developed and undeveloped reserves:
Beginning of year
Revision of previous estimates
Extensions and discoveries
Infill reserves in existing proved fields
Purchases of minerals in place
Production
Sales
Net proved developed and undeveloped reserves at December 31, 2023
Oil (MBbls)
NGL (Mbbls)
Gas (Mcf)
Total (MBoe)
7,681
20,132
212,409
63,215
(735)
(2,763)
(31,052)
(8,673)
20
24
1,909
362
60
26
291
135
(984)
(1,636)
(20,195)
(5,986)
(996)
(5,917)
(63,476)
(17,493)
5,046
9,866
99,886
31,560
1
Revisions of previous estimates decreased primarily due to changes in the unescalated 12-month average product prices which decreased approximately 16% for oil and 58%
for natural gas compared to the December 31, 2022 pricing.
UNIT CORPORATION
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