Unit Corp.said it agreed to sell its Gulf Coast oil and gas assets for $56 million.The company will also end its bid to sell its remaining assets and instead seize the opportunity from rising commodity prices to increase its share buyback program.Based in Tulsa,Okla.,Unit began a divestiture program in early 2021 to sell its noncore oil and gas assets.In January,the company engaged Tudor,Pickering,Holt Co.(TPH)to sell its oil and gas properties and reserves.However,in a June 10 release,Unit said it ended its agreement with TPH due to changes in the price of oil,natural gas and NGL and"general volatility in the market."
展开▼
