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Debt and Credit Agreements | 9 Months Ended
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Sep. 30, 2015
Debt Disclosure [Abstract] |
Debt and Credit Agreements | Debt and Credit Agreements The Company’s debt and credit agreements consisted of the following:
(In thousands) |  | September 30, 2015 |  | December 31, 2014
Total 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% fixed rate notes |  | 67,000 |  |  | 67,000 |
5.58% weighted-average fixed rate notes |  | 175,000 |  |  | 175,000 |
3.65% weighted-average fixed rate notes |  | 925,000 |  |  | 925,000 |
Revolving credit facility |  | 425,000 |  |  | 140,000 |
Current maturities |  |  |  |
7.33% weighted-average fixed rate notes |  | (20,000 | ) |  | — |
Long-term debt, excluding current maturities |  | $ | 2,017,000 |  |  | $ | 1,752,000 |
The Company was in compliance with all restrictive financial covenants for both the revolving credit facility and fixed rate notes as of September 30, 2015. Revolving credit facility At September 30, 2015, the Company had $425.0 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 2.1% and had unused commitments of $1.4 billion. The Company’s weighted-average effective interest rate under the revolving credit facility for the three months ended September 30, 2015 and 2014 was approximately 2.1% and 2.2%, respectively, and for the nine months ended September 30, 2015 and 2014 was approximately 2.2%. Effective April 17, 2015, the Company amended its revolving credit facility to extend the maturity date from May 2017 to April 2020 and change the mechanism under which interest rate margins are determined for outstanding borrowings. The revolving credit facility, as amended, provides for an increase in the borrowing base from $3.1 billion to $3.4 billion and an increase in commitments from $1.4 billion to $1.8 billion. The amended credit facility also provides for an accordion feature, which allows the Company to increase the available credit line up to an additional $500 million if one or more of the existing or new banks agree to provide such increased amount. The borrowing base is redetermined annually under the terms of the revolving credit facility on April 1. In addition, either the Company or the banks may request an interim redetermination twice a year or in conjunction with certain acquisitions or sales of oil and gas properties. Interest rates under the amended credit facility are based on Eurodollar (LIBOR) or alternate base rate (ABR) indications, plus a margin. The associated margins are based on the Company's leverage ratio as shown below:
| Leverage Ratio(1)
| <1.0x |  | ≥1.0x and <2.0x |  | ≥2.0x and <3.0x |  | ≥3.0x
Eurodollar loans | 1.50 | % |  | 1.75 | % |  | 2.00 | % |  | 2.25 | %
ABR loans | 0.50 | % |  | 0.75 | % |  | 1.00 | % |  | 1.25 | %
(1) The ratio of debt and other liabilities to Consolidated EBITDAX, as defined in the credit agreement. Upon the Company achieving an investment grade rating from either Moody's or S&P, the associated margins will be adjusted and determined based on the Company's respective credit rating on a prospective basis. The amended credit facility also provides for a commitment fee on the unused available balance at annual rates ranging from 0.30% to 0.50%. The other terms and conditions of the amended facility are generally consistent with the terms and conditions of the revolving credit facility prior to its amendment as disclosed in Note 5 of the Notes to the Consolidated Financial Statements in the Form 10-K. The Company incurred $7.8 million of debt issuance costs in connection with the amendment to the revolving credit facility, which were capitalized and will be amortized over the term of the amended credit facility. The remaining unamortized costs of $8.3 million will be amortized over the term of the amended revolving credit facility in accordance with ASC-470-50, "Debt Modifications and Extinguishments."

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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