Debt and Credit Agreements

6 Months Ended

Jun. 30, 2014

4. Debt and Credit Agreements

The Company’s debt and credit agreements consisted of the following:

	June 30,		December 31,
(In thousands)	2014		2013
Long-Term Debt
7.33% weighted-average fixed rate notes	$	20,000	$	20,000
6.51% weighted-average fixed rate notes	425,000		425,000
9.78% notes	67,000		67,000
5.58% weighted-average fixed rate notes	175,000		175,000
Revolving Credit facility	506,000		460,000
	$	1,193,000	$	1,147,000

Effective April 15, 2014, the lenders under the Company’s revolving credit facility approved an increase in the Company’s borrowing base from $2.3 billion to $3.1 billion as part of the annual redetermination under the terms of the revolving credit facility agreement. The commitments under the revolving credit facility remain unchanged at $1.4 billion. At June 30, 2014, the Company had $506.0 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 1.9% and $893.0 million available for future borrowings.

The Company was in compliance with all restrictive financial covenants for both the revolving credit facility and fixed rate notes as of June 30, 2014.