(8) Long-Term Debt

Long-term debt to unrelated entities consisted of the following (in thousands):


		March 31, 2013			December 31, 2012
Note payable to a financial institution, with interest
only payment until maturity.	$	8,191		$	10,138
Installment notes bearing interest at the rate of 5.5% to
8.25% per annum collateralized by vehicles with
monthly payments including interest, insurance and
maintenance of approximately $20,000		184			208
Total long-term debt		8,375			10,346
Less current maturities		(92	)		(100	)
Long-term debt, less current maturities	$	8,283		$	10,246

At March 31, 2013, the Company had a revolving credit facility with F&M Bank & Trust Company ("F&M Bank"). Under the credit facility, loans and letters of credit are available to the Company on a revolving basis in an amount outstanding not to exceed the lesser of $40 million or the Company's borrowing base in effect from time to time. As of March 31, 2013, the Company's borrowing base was $20.5 million. The credit facility is secured by substantially all of the Company's producing and non-producing oil and gas properties and pipeline and the Company's Methane Project assets. The credit facility includes certain covenants with which the Company is required to comply. These covenants include leverage, interest coverage, minimum liquidity, and general and administrative coverage ratios. The Company is in compliance with all covenants.

On March 6, 2013, the Company's senior credit facility with F&M Bank after F&M Bank's semiannual review of the Company's then owned producing properties was amended to reduce the Company's borrowing base from $21.5 million to $20.5 million and extend the term of the facility to January 27, 2015. The interest rate remained the greater of prime plus 0.25% or 5.25% per annum. The Company's interest rate at March 31, 2013 was 5.25%.

The total borrowing by the Company under the facility at March 31, 2013 and December 31, 2012 was $8.2 million and $10.1 million, respectively. The next borrowing base review will take place in June 2013.