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Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
The Company’s long-term debt consists of the following:
September 30, 2020December 31, 2019
 (In thousands)
Pre-Petition Credit Facility$360,640 $337,000 
OMP Credit Facility487,500 458,500 
Senior unsecured notes
6.50% senior unsecured notes due November 1, 2021
43,601 71,835 
6.875% senior unsecured notes due March 15, 2022
834,466 890,980 
6.875% senior unsecured notes due January 15, 2023
307,728 351,953 
6.25% senior unsecured notes due May 1, 2026
395,122 400,000 
2.625% senior unsecured convertible notes due September 15, 2023
244,840 267,800 
Total principal of senior unsecured notes1,825,757 1,982,568 
Less: unamortized deferred financing costs on senior unsecured notes(1)
— (15,618)
Less: unamortized debt discount on senior unsecured convertible notes(1)
— (50,877)
Less: current maturities of long-term debt(2)
(360,640)— 
Less: amounts reclassed to liabilities subject to compromise(1)
(1,825,757)— 
Total long-term debt$487,500 $2,711,573 
___________________
(1)As a result of the Chapter 11 Cases, the Company reclassified the total principal balance of its Notes, which are unsecured claims in the Chapter 11 Cases, to liabilities subject to compromise and wrote off all unamortized deferred financing costs and debt discount on its Notes to reorganization items, net (see Note 2 — Voluntary Reorganization under Chapter 11 of the Bankruptcy Code).
(2)Due to the uncertainties regarding the outcome of the Chapter 11 Cases, the Company has classified the borrowings outstanding under the Pre-Petition Credit Facility as current maturities of long-term debt on its Condensed Consolidated Balance Sheet as of September 30, 2020.
As a result of filing the Chapter 11 Cases, a default penalty of an additional 2% went into effect and increased the Pre-Petition Credit Facility interest rates above those interest rates shown in the grid below.
Total Commitment Utilization PercentageApplicable Margin for ABR Loans or Swingline LoansApplicable Margin for Eurodollar LoansCommitment Fee Rates
Less than 25%
0.75 %2.25 %0.50 %
Greater than or equal to 25% but less than 50%
1.00 %2.50 %0.50 %
Greater than or equal to 50% but less than 75%
1.25 %2.75 %0.50 %
Greater than or equal to 75% but less than 90%
1.50 %3.00 %0.50 %
Greater than or equal to 90%
1.75 %3.25 %0.50 %