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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2019
Long-term Debt, Unclassified [Abstract] |
Schedule of long-term debt | (1) The Company has entered into a senior secured revolving credit facility, as amended (the "revolving credit facility"), with The Bank of Nova Scotia, as the lead arranger and administrative agent and other lenders. The revolving credit facility matures on December 13, 2021. On June 3, 2019, the Company further amended its revolving credit facility to, among other things, allow the Company to designate certain of its subsidiaries as unrestricted subsidiaries and to include LIBOR replacement provisions. The borrowing base was reaffirmed at $1.4 billion, and the Company's elected commitment amount remained at $1.0 billion. On November 25, 2019, the borrowing base under the Company's revolving credit facility was reduced to $1.2 billion, and the Company's elected commitment remained at $1.0 billion. As of December 31, 2019, $120.0 million was outstanding under the revolving credit facility and the total availability for future borrowings under this facility, after giving effect to an aggregate of $243.6 million of letters of credit, was $636.4 million. The Company's wholly-owned subsidiaries have guaranteed the obligations of the Company under the revolving credit facility. At December 31, 2019, amounts borrowed under the credit facility bore interest at a weighted average rate of 3.30%. The Company was in compliance with all covenants related to its outstanding indebtedness at December 31, 2019. (2) Loan issuance costs related to the 6.625% Senior Notes due 2023 (the "2023 Notes"), the 6.000% Senior Notes due 2024 (the "2024 Notes"), the 6.375% Senior Notes due 2025 (the "2025 Notes") and the 6.375% Senior Notes due 2026 (the "2026 Notes") (collectively the “Notes”) have been presented as a reduction to the principal amount of the Notes. At December 31, 2019, total unamortized debt issuance costs were $3.3 million for the 2023 Notes, $6.9 million for the 2024 Notes, $9.6 million for the 2025 Notes and $3.9 million for the 2026 Notes. In addition, loan commitment fee costs for the construction loan agreement described below were $0.1 million at December 31, 2019. Long-term debt consisted of the following items as of December 31:
| 2019 |  | 2018
| (In thousands)
Revolving credit agreement(1) | $ | 120,000 |  |  | $ | 45,000 |
6.625% senior unsecured notes due 2023 | 329,467 |  |  | 350,000 |
6.000% senior unsecured notes due 2024 | 603,428 |  |  | 650,000 |
6.375% senior unsecured notes due 2025 | 529,525 |  |  | 600,000 |
6.375% senior unsecured notes due 2026 | 397,529 |  |  | 450,000 |
Net unamortized debt issuance costs(2) | (23,751 | ) |  | (30,733 | )
Construction loan | 22,453 |  |  | 23,149 |
Less: current maturities of long term debt | (631 | ) |  | (651 | )
Debt reflected as long term | $ | 1,978,020 |  |  | $ | 2,086,765 |
Schedule of maturities of long-term debt | Maturities of long-term debt (excluding unamortized debt issuance costs) as of December 31, 2019 are as follows:
| (In thousands)
2020 | $ | 631 |
2021 | 120,663 |
2022 | 694 |
2023 | 330,194 |
2024 | 604,186 |
Thereafter | 946,034 |
Total | $ | 2,002,402 |
Schedule of interest expense | The following schedule shows the components of interest expense for the year ended December 31:
| 2019 |  | 2018 |  | 2017
| (In thousands)
Cash paid for interest | $ | 142,664 |  |  | $ | 132,995 |  |  | $ | 107,548 |
Change in accrued interest | (3,834 | ) |  | 7,266 |  |  | 12,524 |
Capitalized interest | (3,372 | ) |  | (4,470 | ) |  | (9,470 | )
Amortization of loan costs | 6,328 |  |  | 6,121 |  |  | 5,011 |
Total interest expense | $ | 141,786 |  |  | $ | 141,912 |  |  | $ | 115,613 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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