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Long-Term Debt | 3 Months Ended
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Mar. 31, 2022
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Our outstanding long-term debt is shown below:
|  | March 31, |  | December 31,
(in thousands) |  | 2022 |  | 2021
Uncollateralized senior notes: |  |  |  |
5.93% note, due October 31, 2023 |  | $ | 6,000 |  |  | $ | 6,000 |
5.68% note, due June 30, 2026 |  | 14,500 |  |  | 14,500 |
6.43% note, due May 2, 2028 |  | 4,900 |  |  | 4,900 |
3.73% note, due December 16, 2028 |  | 14,000 |  |  | 14,000 |
3.88% note, due May 15, 2029 |  | 40,000 |  |  | 40,000 |
3.25% note, due April 30, 2032 |  | 70,000 |  |  | 70,000 |
3.48% note, due May 31, 2038 |  | 50,000 |  |  | 50,000 |
3.58% note, due November 30, 2038 |  | 50,000 |  |  | 50,000 |
3.98% note, due August 20, 2039 |  | 100,000 |  |  | 100,000 |
2.98% note, due December 20, 2034 |  | 70,000 |  |  | 70,000 |
3.00% note, due July 15, 2035 |  | 50,000 |  |  | 50,000 |
2.96% note, due August 15, 2035 |  | 40,000 |  |  | 40,000 |
2.49% notes Due January 25, 2037 |  | 50,000 |  |  | 50,000 |
2.95% notes Due March 15, 2042 |  | 50,000 |  |  | — |
Equipment security note |  |  |  |
2.46% note, due September 24, 2031 |  | 9,165 |  |  | 9,378 |
Less: debt issuance costs |  | (970) |  |  | (913) |
Total long-term debt |  | 617,595 |  |  | 567,865 |
Less: current maturities |  | (19,717) |  |  | (17,962) |
Total long-term debt, net of current maturities |  | $ | 597,878 |  |  | $ | 549,903 |
Notes Purchase Agreement On March 15, 2022 we issued 2.95 percent Senior Notes due March 15, 2042 to MetLife in the aggregate principal amount of $50 million. We used the proceeds received from the issuances of the Senior Notes to reduce short-term borrowings under the revolving credit facility and to fund capital expenditures. These Senior Notes have similar covenants and default provisions as the existing senior notes, and have an annual principal payment beginning in the eleventh year after the issuance. Equipment Security Note On September 24, 2021, we entered into an Equipment Financing Agreement with Banc of America Leasing & Capital, LLC to issue $9.6 million in sustainable financing to finance the purchase of equipment by our subsidiary, Marlin Gas Services. The equipment security note bears a 2.46 percent interest rate and has a term of ten years. Under the terms of the agreement, we granted a security interest in the equipment to the lender, to serve as collateral. Shelf Agreements We have entered into Shelf Agreements with Prudential and MetLife, whom are under no obligation to purchase any unsecured debt. The following table summarizes our Shelf Agreements at March 31, 2022:
(in thousands) |  | Total Borrowing Capacity |  | Less: Amount of Debt Issued |  | Less: Unfunded Commitments |  | Remaining Borrowing Capacity
Shelf Agreement |  |  |  |  |  |  |  |
Prudential Shelf Agreement (1) |  | $ | 370,000 |  |  | $ | (220,000) |  |  | $ | — |  |  | $ | 150,000 |
MetLife Shelf Agreement (1) |  | 150,000 |  |  | (50,000) |  |  | — |  |  | 100,000 |
Total Shelf Agreements as of March 31, 2022 |  | $ | 520,000 |  |  | $ | (270,000) |  |  | $ | — |  |  | $ | 250,000 |
(1) The Prudential and MetLife Shelf Agreements expire in April 2023 and May 2023, respectively. The Uncollateralized Senior Notes, Shelf Agreements or Shelf Notes set forth certain business covenants to which we are subject when any note is outstanding, including covenants that limit or restrict our ability, and the ability of our subsidiaries, to incur indebtedness, or place or permit liens and encumbrances on any of our property or the property of our subsidiaries.

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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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