Citing higher commodity prices, Tulsa-based independent Unit Corp. said it has ended a process for selling “up to all of its oil and gas properties and reserves.”

The exploration and production (E&P) company has ended its engagement with Tudor, Pickering, Holt & Co. (TPH) to advise on the divestment process.

CEO Philip B. Smith said the board decision to end the sales process “reflects the opportunities created by rising oil and natural gas prices…” 

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He added that the board’s move reflects its belief that Unit “can create more shareholder value by operating the properties.”

Unit also noted that it struck a deal during the sales...