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Debt and Credit Agreements | 9 Months Ended
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Sep. 30, 2019
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, 2019 |  | December 31, 2018
6.51% weighted-average senior notes(1) |  | $ | 124,000 |  |  | $ | 124,000 |
5.58% weighted-average senior notes |  | 175,000 |  |  | 175,000 |
3.65% weighted-average senior notes |  | 925,000 |  |  | 925,000 |
Revolving credit facility |  | — |  |  | 7,000 |
Unamortized debt issuance costs |  | (4,210 | ) |  | (4,896 | )
|  | $ | 1,219,790 |  |  | $ | 1,226,104 |
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(1) | Includes $87.0 million of current portion of long-term debt at September 30, 2019 due in July 2020.
At September 30, 2019, the Company was in compliance with all restrictive financial covenants for both its revolving credit facility and senior notes. Revolving Credit Agreement On April 22, 2019, the Company entered into a second amended and restated credit agreement (revolving credit facility). The Company's revolving credit facility is unsecured and the borrowing base is redetermined annually on April 1. In addition, either the Company or the banks may request an interim redetermination twice a year or in connection with certain acquisitions or divestitures of oil and gas properties. The Company’s borrowing base and available commitments under the revolving credit facility were $3.2 billion and $1.5 billion, respectively. The maximum revolving credit available to the Company is the lesser of the available commitments or the difference of the borrowing base less outstanding senior notes. The Company's revolving credit facility matures in April 2024 and can be extended by one year upon the agreement of the Company and lenders holding at least 50 percent of the commitments under the revolving credit facility. Interest rates under the revolving credit facility are based on LIBOR or ABR indications, plus a margin which ranges from 150 to 225 basis points for LIBOR loans and from 50 to 125 basis points for ABR loans when not in an Investment Grade Period (as defined in the amended and restated credit agreement) and from 112.5 to 175 basis points for LIBOR loans and from 12.5 to 75 basis points for ABR loans during an Investment Grade Period. The revolving credit facility also provides for a commitment fee on the unused available balance and is calculated at annual rates ranging from 30 to 42.5 basis points when not in an Investment Grade Period and from 12.5 to 27.5 basis points during an Investment Grade Period. The Company is currently not in an Investment Grade Period. The revolving credit facility contains various customary covenants, which include the following (with all calculations based on definitions co ntained in the amended and restated credit agreement):
• | Maintenance of a minimum asset coverage ratio of 1.75 to 1.0;
• | Maintenance of a minimum annual coverage ratio of consolidated cash flow to interest expense for the trailing four quarters of 2.8 to 1.0; and
• | Maintenance of a minimum current ratio of 1.0 to 1.0.
At September 30, 2019, the Company had no borrowings outstanding under its revolving credit facility and had unused commitments of $1.5 billion. The Company incurred $7.4 million of debt issuance costs in connection with the amended and restated credit agreement, which were capitalized and will be amortized over the term of the amended and restated agreement. The remaining unamortized costs of $3.4 million will also be amortized over the term of the amended and restated agreement 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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