Unit Petroleum Company is a wholly owned subsidiary of Unit Corporation. Unit Petroleum was created in 1979 with an initial reserve base of 2 Bcfe. At December 31, 2009, Unit owns 577.0 Bcfe of reserves, primarily in the Anadarko and Arkoma Basins, and operates or owns an interest in more than 7,700 wells. Unit's reserves are 73% natural gas and 80% proved developed. The Company's strategy is to drill low-risk field extension or development wells on internally generated prospects. Unit has an inventory of more than 1,400 drilling locations representing approximately 800 Bcfe of unrisked reserves. As with its drilling rig fleet, Unit focuses on natural gas projects, which it believes provide the greatest opportunity for stable growth.