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Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes the Company's outstanding debt:

			March 31, 2024						December 31, 2023
			(In thousands)
Credit Facility			$	175,000					$	185,000
Senior Notes
Principal			180,000						185,000
Less: Unamortized discount(1)			9,473						10,117
Less: Unamortized deferred financing costs(2)			3,685						3,924
Total Senior Notes			166,842						170,959
Total debt			341,842						355,959
Less: Current portion of long-term debt(3)			20,000						20,000
Total long-term debt			$	321,842					$	335,959

___________________

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

(2)Unamortized deferred financing costs are attributable to and amortized over the term of the Senior Notes.

(3)As of March 31, 2024 and December 31, 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:

			March 31, 2024						December 31, 2023
			(In thousands)
Outstanding borrowings			$	175,000					$	185,000
Available under the borrowing base			$	200,000					$	190,000

Schedule of Components of Interest Expense

The following table summarizes the Company's interest expense:

			Three Months Ended March 31,
			2024						2023
			(In thousands)
Interest expense			8,743						1,294
Interest income			(207)						—
Capitalized interest			(964)						(615)
Amortization of deferred financing costs			671						192
Amortization of discount on Senior Notes			644						—
Unused commitment fees on Credit Facility			180						145
Total interest expense, net			$	9,067					$	1,016

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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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