Unit Corp., which filed for bankruptcy in May 2020 at the height of a slump in oil prices, has reached out to interested parties for a divestiture of its upstream subsidiary Unit Petroleum Co., sources say.
Unit Corp., one of the top U.S. natural gas producers, has hired an investment bank for a sale of its oil and gas producing assets in the Anadarko and Gulf Coast basins that could fetch around $1 billion, sources told Reuters on Jan. 20.
Tulsa, Okla.-based Unit, which filed for bankruptcy in May 2020 at the height of a slump in oil prices, has reached out to interested parties for a divestiture of its upstream subsidiary Unit Petroleum Co., the sources said.
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