UNIT CORPORATION Investor Presentation
Unit Petroleum Company
Reserves Update
The following table presents the components of the standardized measure of discounted future net cash flows:
2023
(In thousands)
Future development costs
Future cash inflows
Future production costs
Future income tax expenses
Future net cash flows
10% annual discount for estimated timing of cash flows
$
850,979
$
(434,221)
$
(991)
$
(11,714)
$
404,053
$
(166,872)
Standardized measure of discounted future net cash flows relating to proved oil, NGLs, and natural gas reserves
$
237,181
As of December 31, 2023:
•
SEC pricing PDP PV-10 value of $249 million¹
$78.22/bbl oil and $2.64/mcf gas based on first-of-month prices
•
5,046 MBO; 100 BCF; 9,866 MBNGL net reserve volume
Future revenue attributed 45% to oil, 27% to NGL and 28% to gas
Strip pricing PDP PV-10 value of $248 million¹
•
•
• $67.75/bbl oil and $3.36/mcf gas based on strip pricing as of 1/2/2024
4,904 MBO; 107 BCF; 10,050 MBNGL net reserve volume using strip pricing
Future revenue attributed 36% to oil, 23% to NGL and 41% to gas
1 See Appendix 2 for a reconciliation to the standardized measure
UNIT CORPORATION
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