Latest news with #OTCMarkets
Globe and Mail
4 days ago
- Business
- Globe and Mail
Unit Corporation Reports Second Quarter Results
On August 7, 2025, Unit Corporation (OTCQX: UNTC) (Company) filed unaudited condensed consolidated financial statements for the three and six months ended June 30, 2025 with OTC Markets Group Inc. (OTC). The Company's current, quarterly and annual reports may be accessed on the OTC's website at as well as the Company's website at Second Quarter and Year to Date Results Net income for the three months ended June 30, 2025 was $22.1 million, or $2.22 per diluted share, compared to $11.5 million, or $1.15 per diluted share, for the three months ended June 30, 2024. Total revenue for the three months ended June 30, 2025 was $59.1 million, compared to $56.8 million for the three months ended June 30, 2024. For the six months ended June 30, 2025, net income was $40.0 million, or $4.07 per diluted share, compared to $27.6 million, or $2.76 per diluted share, for the six months ended June 30, 2024. Total revenue for the six months ended June 30, 2025 was $122.6 million, compared to $124.0 million for the six months ended June 30, 2024. 'The quarter was highlighted by increased industry attention on development within our core Anadarko Basin area of interest,' commented Phil Frohlich, the Company's Chief Executive Officer. 'We are focused on a number of promising new well opportunities and expect to exceed our original expectations for 2025 new production.' Operational highlights for the oil and natural gas and contract drilling segments during the three and six months ended June 30, 2025 and 2024 include: Three Months Ended June 30, Six Months Ended June 30, Oil and Natural Gas: Avg. oil price ($/Bbl) $ 62.68 $ 79.23 (21 )% $ 66.18 $ 77.16 (14 )% Avg. oil price excl. derivatives ($/Bbl) $ 62.68 $ 79.23 (21 )% $ 66.18 $ 77.16 (14 )% Avg. NGLs price ($/Bbl) $ 19.20 $ 18.15 6 % $ 20.96 $ 19.65 7 % Avg. NGLs price excl. derivatives ($/Bbl) $ 19.20 $ 18.15 6 % $ 20.96 $ 19.65 7 % Avg. natural gas price ($/Mcf) $ 3.11 $ 1.00 NM $ 3.03 $ 1.42 113 % Avg. natural gas price excl. derivatives ($/Mcf) $ 2.32 $ 1.00 132 % $ 2.69 $ 1.42 89 % Oil production (MBbls) 201 170 18 % 391 357 10 % NGL production (MBbls) 276 217 27 % 513 515 — % Natural gas production (MMcf) 3,276 2,982 10 % 6,365 6,484 (2 )% Total production (MBOE) 1,023 884 16 % 1,965 1,953 1 % Contract Drilling: Total rigs available (end of the period) 14 14 — % 14 14 — % Average number of drilling rigs in use 11.3 11.9 (5 )% 12.0 12.8 (6 )% Average dayrate on daywork contracts ($/day) $ 29,284 $ 30,786 (5 )% $ 29,322 $ 30,842 (5 )% Derivatives The following non-designated commodity hedges were outstanding as of June 30, 2025: Remaining Term Commodity Hedged Volume Weighted Average Fixed Price for Swaps Hedged Market Jul'25 - Dec'25 Natural gas - basis swap Floating to fixed 10,000 MMBtu/day $(0.30) IF - PEPL - TX-OK Jul'25 - Dec'25 Natural gas - basis swap Floating to fixed 7,500 MMBtu/day $(0.25) IF - PEPL - TX-OK Jul'25 - Dec'25 Natural gas - basis swap Floating to fixed 5,000 MMBtu/day $(0.25) IF - PEPL - TX-OK Jul'25 - Dec'25 Natural gas - swap Floating to fixed 15,000 MMBtu/day $4.69 IF - NYMEX (HH) Jan'26 - Dec'26 Natural gas - swap Floating to fixed 5,000 MMBtu/day $4.22 IF - NYMEX (HH) Jul'25 - Dec'25 Crude Oil - swap Floating to fixed 15,000 Bbl/month $69.65 WTI - NYMEX Jan'26 - Dec'26 Crude Oil - swap Floating to fixed 12,000 Bbl/month $65.85 WTI - NYMEX Common Stock Dividends The table below presents information about the dividends paid during the periods indicated: 2024 First quarter Quarterly $ 1.25 $ 12,269 March 18, 2024 March 28, 2024 Second quarter Quarterly $ 1.25 $ 12,961 June 17, 2024 June 27, 2024 2025 First quarter Quarterly $ 1.25 $ 12,317 March 18, 2025 March 28, 2025 Second quarter Quarterly $ 1.25 $ 12,317 June 17, 2025 June 27, 2025 The declaration and payment of any future dividend, whether fixed, special, or variable, are at the sole discretion of the Company's Board of Directors. This decision will depend upon several factors, including the Company's financial position, results of operations, cash flows, capital requirements, business conditions, future expectations, legal requirements, and other relevant factors at the time of consideration. Future dividends are expected to be funded by cash on the Company's balance sheet. About Unit Corporation Unit Corporation is a Tulsa-based, publicly held energy company engaged through its wholly-owned subsidiaries in oil and gas production and contract drilling. For more information about Unit Corporation, visit its website at Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements, other than statements of historical facts, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur are forward-looking statements. Several risks and uncertainties could cause actual results to differ materially from these statements, including changes in commodity prices, the productive capabilities of the Company's wells, future demand for oil and natural gas, future drilling rig utilization and dayrates, projected rate of the Company's oil and natural gas production, the amount available to the Company for borrowings, its anticipated borrowing needs under its credit agreement, the number of wells to be drilled by the Company's oil and natural gas segment, the potential productive capability of its prospective plays, and other factors described occasionally in the Company's publicly available OTC reports. The Company assumes no obligation to update publicly such forward-looking statements, whether because of new information, future events, or otherwise. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (In thousands except per share amounts) Revenues: Oil and natural gas $ 25,622 $ 20,410 $ 54,009 $ 46,982 Contract drilling 33,463 36,347 68,548 76,979 Total revenues 59,085 56,757 122,557 123,961 Expenses: Operating costs: Oil and natural gas 10,451 10,480 20,514 22,459 Contract drilling 23,548 25,051 48,079 50,776 Total operating costs 33,999 35,531 68,593 73,235 Depreciation, depletion, and amortization 4,495 3,659 8,631 7,560 General and administrative 4,462 5,601 9,758 10,579 Gain on disposition of assets (715 ) (1,210 ) (799 ) (1,145 ) Total operating expenses 42,241 43,581 86,183 90,229 Income from operations 16,844 13,176 36,374 33,732 Other income (expense): Interest income 590 1,081 1,137 2,035 Interest expense (6 ) (8 ) (16 ) (38 ) Gain on derivatives, net 4,227 133 6,529 133 Reorganization items, net — — — (22 ) Other, net 10 222 105 (155 ) Total other income (expense) 4,821 1,428 7,755 1,953 Income before income taxes 21,665 14,604 44,129 35,685 Income tax expense (benefit), net: Current 163 (290 ) 301 (215 ) Deferred (600 ) 3,385 3,790 8,287 Total income tax expense (benefit), net (437 ) 3,095 4,091 8,072 Net income $ 22,102 $ 11,509 $ 40,038 $ 27,613 Net income per common share: Basic $ 2.23 $ 1.17 $ 4.08 $ 2.81 Diluted $ 2.22 $ 1.15 $ 4.07 $ 2.76 Unit Corporation Selected Financial Highlights - Continued June 30, 2025 December 31, 2024 Balance Sheet Data: (In thousands) Cash and cash equivalents $ 55,130 $ 48,884 Current assets $ 97,464 $ 90,250 Total assets $ 300,746 $ 289,243 Current liabilities $ 29,855 $ 32,468 Long-term debt $ — $ — Other long-term liabilities $ 23,238 $ 22,665 Total shareholders' equity $ 247,082 $ 232,521
Yahoo
5 days ago
- Business
- Yahoo
OTC Markets Group Welcomes Alkane Resources Limited to OTCQX
NEW YORK, Aug. 06, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Alkane Resources Limited (ASX: ALK; OTCQX: ALKEF), a diversified Australia-based gold and antimony producer, has qualified to trade on the OTCQX® Best Market. Alkane Resources Limited upgraded to OTCQX from the Pink® market. Alkane Resources Limited begins trading today on OTCQX under the symbol 'ALKEF.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Nic Earner, Managing Director of Alkane, commented: 'We are pleased to have successfully completed the merger with Mandalay Resources, marking a pivotal milestone in our growth strategy. Graduating to OTCQX will enhance our visibility and accessibility in North America, supporting broader investor engagement as we continue to build a diversified, high-quality gold and antimony producer.' About Alkane Resources LimitedAlkane Resources (ASX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth. Alkane's wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations. Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia's reputation as a significant gold, copper and antimony production region. About OTC Markets Group Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit Subscribe to the OTC Markets RSS Feed Media Contact:OTC Markets Group Inc., +1 (212) 896-4428, media@ in to access your portfolio
Yahoo
01-08-2025
- Business
- Yahoo
SecureTech Announces Uplisting to OTCQB Venture Market
Roseville, Minnesota, Aug. 01, 2025 (GLOBE NEWSWIRE) -- SecureTech Innovations, Inc. (OTCQB: SCTH), a pioneering technology company advancing artificial intelligence, industrial 3D printing and manufacturing technologies, cybersecurity, and digital infrastructure solutions, is pleased to announce that its common stock has been approved for trading on the OTCQB® Venture Market, effective immediately. The OTCQB Venture Market, operated by OTC Markets Group Inc., is recognized by the U.S. Securities and Exchange Commission (SEC) as an established public market, the first tier within the OTC framework to receive such recognition. It serves early-stage and developing U.S. and international companies that meet strict financial standards, maintain current reporting with the SEC or a U.S. banking regulator, and complete annual verification and management certification. The OTCQB offers enhanced transparency, improved liquidity, and increased visibility for investors, representing a significant upgrade from the OTCID market where SecureTech previously traded. J. Scott Sitra, President and CEO of SecureTech, commented, 'Uplisting to the OTCQB is a major milestone for SecureTech and a strong validation of our commitment to transparency, operational excellence, and shareholder value. This move reflects our continued growth and positions us to attract a broader base of institutional and retail investors.' Mr. Sitra added, 'More importantly, this uplisting is a strategic step toward our long-term goal of listing on a national exchange such as the NYSE or NASDAQ. Each advancement strengthens our foundation and opens new doors for capital access, strategic partnerships, and long-term shareholder value creation.' About OTC Markets Group OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Their data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market, and Pink Limited™ Market. Their OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Their innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC-regulated ATS, operated by OTC Link LLC, a FINRA and SEC-registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit About SecureTech Innovations SecureTech Innovations, Inc. (OTCQB: SCTH) is a pioneering technology company advancing artificial intelligence, industrial 3D printing, cybersecurity, and digital infrastructures. Its portfolio includes AI UltraProd, a leader in AI-driven 3D industrial manufacturing; Piranha Blockchain, a developer of cutting-edge Web3 security, blockchain architecture, digital asset reserves, and cybersecurity systems; and Top Kontrol, the only patented anti-theft and anti-carjacking system that can automatically stop a carjacking without requiring any driver action. SecureTech is committed to developing transformative solutions that address real-world challenges and problems. For further information, visit our websites: | | | This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements refer to future events, expectations, plans, and prospects. SecureTech Innovations, Inc. ('SecureTech') believes the expectations reflected in these forward-looking statements are reasonable as of the date they are made. However, actual results may differ materially from those expressed or implied by these forward-looking statements. SecureTech identifies forward-looking statements with words like 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and similar expressions that convey uncertainty about future events or outcomes. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including market conditions and other circumstances. More detailed information about SecureTech and the risks that may affect these forward-looking statements can be found in SecureTech's filings with the Securities and Exchange Commission ('SEC'), including the risks contained in the section of our Annual Report filed on Form 10-K entitled 'Risk Factors.' These filings are available on the SEC's website at Forward-looking statements in this press release speak only as of the date they are made. SecureTech has no obligation to update any forward-looking statements to reflect new events or circumstances after the date of this press release, except as required by law. Investor Relations +1 (651) 317-8990ir@
Yahoo
29-07-2025
- Business
- Yahoo
OTC Markets Group Welcomes Awalé Resources Limited to OTCQX
NEW YORK, July 29, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Awalé Resources Limited (TSX-V: ARIC; OTCQX: AWLRF), a diligent and systematic mineral exploration company, has qualified to trade on the OTCQX® Best Market. Awalé Resources Limited begins trading today on OTCQX under the symbol 'AWLRF.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. 'Our commencement of trading on the OTCQX is an important step in expanding Awalé's investor base and increasing access to U.S. capital markets,' commented Andrew Chubb, CEO of Awalé Resources. 'This platform enhances visibility as we continue to build momentum at our Odienné Project in Côte d'Ivoire, where multiple discoveries are positioning us for potential district-scale success. We look forward to engaging with a broader audience of U.S. and global investors as we unlock further value through exploration.' About Awale Resources LimitedAwalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ('Odienné' or the 'Project'), covering 2,346 km2 across seven permits—five granted and two applications. This includes 797 km2 in two permits held under the Awalé-Newmont Joint Venture ('OJV'). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ('Newmont'). Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties. The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries. About OTC Markets Group Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit Media Contact:OTC Markets Group Inc., +1 (212) 896-4428, media@ in to access your portfolio
Yahoo
18-07-2025
- Business
- Yahoo
OTC Markets Group Welcomes Andean Silver Ltd to OTCQX
NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Andean Silver Ltd (ASX: ASL; OTCQX: ADSLF), an Australian mineral exploration and development company, has qualified to trade on the OTCQX® Best Market. Andean Silver Ltd begins trading today on OTCQX under the symbol 'ADSLF.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. About Andean Silver LtdAndean Silver Limited (formerly Mitre Mining Corporation Limited) is an Australian mineral exploration and development company focused on advancing its 100% owned Cerro Bayo Silver-Gold project in the Aysen region of Southern Chile which boasts some of the largest precious and base metals in the world. The project currently hosts Indicated and Inferred Mineral Resources of 9.8Mt @ 353g/t AgEq for 111Moz AgEq. About OTC Markets Group Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit Subscribe to the OTC Markets RSS Feed Media Contact:OTC Markets Group Inc., +1 (212) 896-4428, media@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
