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Debt
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Debt Debt
The current portion of long-term debt consists of the following:
 September 30, 2020December 31, 2019
Oakdale Equipment Financing$3,450 $3,431 
Notes payable2,852 2,628 
Finance leases121 116 
Long-term debt, net, current$6,423 $6,175 

Long-term debt, net of current portion consists of the following:
 September 30, 2020December 31, 2019
Oakdale Equipment Financing, net$16,109 $18,074 
ABL Credit Facility— 2,500 
Notes payable7,409 7,192 
Finance leases381 474 
Long-term debt, net$23,899 $28,240 

The follow summarizes the maturity of our debt:
Oakdale Equipment Financing, NetABL Credit FacilityNotes PayableFinance leasesTotal
Remainder 2020$767 $— $503 $30 $1,300 
20213,406 — 3,177 122 6,705 
20223,620 — 3,196 116 6,932 
20233,847 — 2,241 234 6,322 
20247,537 — 1,144 — 8,681 
Thereafter382 — — — 382 
Total$19,559 $— $10,261 $502 $30,322 

Oakdale Equipment Financing
On December 13, 2019, the Company received net proceeds of $23,000 in an equipment financing arrangement with Nexseer. Substantially all of the Company’s mining and processing equipment at its Oakdale facility are pledged as collateral under the Oakdale Equipment Financing. The Oakdale Equipment Financing bears interest at a fixed rate of 5.79%. The Company used the net proceeds to repay in full and terminate the Former Credit Facility, pay transaction costs, and the remainder was used for working capital purposes.
ABL Credit Facility
On December 13, 2019, the Company entered into a $20,000 five-year senior secured asset-based credit facility with Jefferies Finance LLC. The available borrowing amount under the ABL Credit Facility as of September 30, 2020 was $9,631 and is based on the Company’s eligible accounts receivable and inventory, as described in the ABL Credit Agreement. As of September 30, 2020, there were no borrowings outstanding under the ABL Credit Facility and $1,115 letters of credit. There were no borrowings during the three months ended September 30, 2020. The weighted average interest rate on borrowings for
the nine months ended September 30, 2020 was 3.31%. As of September 30, 2020 and December 31, 2019, the Company was in compliance with all covenants.
Notes Payable
The Company has entered into various financing arrangements, primarily to finance its manufactured wellsite proppant storage solutions equipment. Upon completion of the equipment manufacturing, the Company signs a note payable and title to the equipment passes to the financial institutions as collateral. In June 2020, the Company executed a note payable to defer certain near-term minimum royalty payments. All notes payable bear interest at rates between 4.00% and 7.49%.
Acquisition Liquidity Support Facility
In connection with the Company’s acquisition of Eagle Proppants Holdings, the Company, as borrower, also entered into a Loan Agreement with Eagle, as lender, secured by certain property rights and assets of the acquired business, whereby the Company may draw loans in an aggregate amount up to $5,000 during the twelve month period ending September 18, 2021. Beginning with the calendar quarter ending December 31, 2021, any amounts borrowed will amortize over the following three years. The facility bears interest at a fixed rate of 6.00% until September 18, 2021 and will bear interest at a fixed rate of 8.00% thereafter until all outstanding borrowings have been paid in full. There were no borrowings outstanding under this facility as of September 30, 2020.