Unit Corporation (NYSE:UNT) Q3 2019 Earnings Conference Call - Final Transcript

Nov 08, 2019 • 11:00 am ET

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Unit Corporation (NYSE:UNT) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
Robert H. Parks

liquids is the result of operating in ethane rejection mode due to low NGL prices. During the third quarter, we connected two new wells to the system that were leased by a third-party mid-stream operator.

In summary, we are continuing to develop and expand our Cashion facility in order to provide gathering and processing services to the active producers in the area. Given the low price environment, we are pleased with the third quarter financial results for our mid-stream segment. Despite this environment, we continue to add additional wells to system. With the installation of the new Reeding processing plant at our Cashion facility, we have increased total processing capacity on the system, which allows us to handle additional volumes from active producers. Finally, due to the available $200 million standalone credit facility, we are actively searching for evaluating possible acquisition and expansion opportunities.

Our mids-tream segment is well positioned for growth, and looks forward to continued success in the future.

I will now turn the call over to Larry for his final comments.

Executive
Larry D. Pinkston

Thank you, Bob. As we mentioned earlier, we are currently in the registration with the SEC with regards to an exchange offer, and can only discuss what is publicly available. As such, we will not take questions and I refer you to our registration statement and soon-to-be filed 10-Q for the most recently completed quarter. Thank you for joining us on the call today. Operator, I will turn the call back over to you.

Operator
Operator

[Operator Closing Remarks]