Unit Corporation - EnerCom, Inc.

Non-GAAP Financial Measures –
Adjusted EBITDA
Three months ended March 31,
($ in Millions) 2012 2013
2009 2010
Years ended December 31,
Net Income $52 $40
($56) $146
$196
$23
Income Taxes 33 25
(32) 91
123
16
Depreciation, Depletion and Amortization 79 77
177 205
281
319
Impairment of Oil and Natural Gas Properties - -
281 -
-
284
Interest Expense 2 4
1 -
4
14
(Gain) loss on unrealized value of commodity
derivatives (7) (2) (2) 1 2
(1)
Adjusted EBITDA $173 $148 $373 $441 $602 $657
2011
2012
Unit Petroleum
Income Before Income Taxes (1) $48 $59
($121) $176
Depreciation, Depletion and Amortization 52 52
115 119
Impairment of Oil and Natural Gas Properties - -
281 -
Adjusted EBITDA $100 $111
$275 $295
Unit Drilling
Income Before Income Taxes (1) $43 $24
$51 $60
Depreciation and Amortization 21 17
45 70
Adjusted EBITDA $64 $41
$96 $130
Superior Pipeline
Income Before Income Taxes (1) $5 $1
$5 $17
Depreciation and Amortization 5 7
16 15
Adjusted EBITDA $10 $8
$21 $32
$200
183
-
$383
$135
80
$215
$17
16
$33
($77)
211
284
$418
$159
81
$240
$6
24
$30
(1)
Does not include allocation of G&A expense.