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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes the Company's outstanding debt:

			September 30, 2023						December 31, 2022
			(In thousands)
Credit Facility			$	210,000					$	56,000
Senior Notes
Principal			$	190,000					$	—
Less: Unamortized discount(1)			10,765						—
Less: Unamortized deferred financing costs(2)			4,166						—
Total Senior Notes			$	175,069					$	—
Less: Current portion of long-term debt(3)			20,000						—
Total long-term debt			$	365,069					$	56,000

_____________________

(1)Unamortized discount on long-term debt is amortized over the life of the respective debt.

(2)As of September 30, 2023, unamortized deferred financing costs are attributable to and amortized over the life of the Senior Notes.

(3)As of September 30, 2023, the current portion of long-term debt reflects $20 million due on the Senior Notes over the next twelve months.

Schedule of Credit Facility

The following table summarizes the Credit Facility balances:

			September 30, 2023						December 31, 2022
			(In thousands)
Outstanding borrowings			$	210,000					$	56,000
Available under the borrowing base			$	115,000					$	169,000

Schedule of Components of Interest Expense

The following table summarizes the Company's interest expense:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(In thousands)
Interest expense			$	9,848					$	519					$	20,913					$	1,626
Capitalized interest			(839)						(246)						(2,289)						(576)
Amortization of deferred financing costs			593						175						1,236						548
Amortization of discount on Senior Notes			596						—						1,234						—
Unused commitment fees on Credit Facility			140						137						421						362
Total interest expense, net			$	10,338					$	585					$	21,515					$	1,960

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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