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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
The Company’s long-term debt consists of the following:
December 31,
20242023
 (In thousands)
Senior secured revolving line of credit$445,000 $— 
Senior unsecured notes400,000 400,000 
Less: unamortized deferred financing costs(2,400)(4,098)
Total long-term debt, net$842,600 $395,902 
In addition, the unused borrowing base is subject to a commitment fee as shown in the table below:
Total Revolving Commitment Utilization PercentageABR LoansSOFR LoansCommitment Fee
Less than 25%
0.75 %1.75 %0.375 %
Greater than or equal to 25% but less than 50%
1.00 %2.00 %0.375 %
Greater than or equal to 50% but less than 75%
1.25 %2.25 %0.500 %
Greater than or equal to 75% but less than 90%
1.50 %2.50 %0.500 %
Greater than or equal to 90%
1.75 %2.75 %0.500 %