On December 23, 2008, Unit Corporation, including certain of its subsidiaries (collectively the "Company"), and its Lenders entered into a First Amendment ("Amendment") to its existing First Amended and Restated Senior Credit Agreement, dated May 24, 2007 ("Credit Agreement"). In general, the Amendment modifies the Credit Agreement to provide, in part, for the following:

(i) The definition of "Aggregate Commitment" is amended to reflect an increase from $275,000,000 to $325,000,000;

(ii) The Pricing Schedule (as defined in the Credit Agreement) is replaced with the Pricing Schedule attached to the Amendment;

(iii) Sterling Bank is no longer a Lender and its share of the credit facility was assumed by Compass Bank; and

(iv) The Lenders and their respective participation interests are as follows:

                         Lender                  Participation Interest
           Bank of Oklahoma, N.A.                        18.75%
           Bank of America, N.A.                         18.75%
           BMO Capital Markets Financing, Inc.           18.75%
           Compass Bank                                  17.50%
           Comerica Bank                                  8.75%
           Fortis Capital Corp.                           8.75%
           Calyon New York Branch                         8.75%

                                                        100.00%

Except as changed by the Amendment, all of the terms and conditions of the Credit Agreement remain in full force and effect.

The above description of changes under the Credit Agreement is not intended to be complete and is qualified in its entirety by reference to the attached copy of the Amendment, which is incorporated by reference into this item 1.01. Capitalized terms used and not otherwise defined in this Form 8-K have the meanings given them in the Credit Agreement.