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Debt (Notes)
6 Months Ended
Jun. 30, 2014
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]
7. Debt
Revolving Credit Facility
We have a $300.0 million senior secured revolving credit agreement ("Credit Agreement") that matures on October 16, 2018. We have the ability to increase the total commitment of the revolving credit facility by up to $200.0 million for a total facility size of up to $500.0 million, subject to certain conditions. The Credit Agreement includes a $25.0 million sub-limit for standby letters of credit and a $10.0 million sub-limit for swing line loans. Obligations under the Credit Agreement and certain cash management and hedging obligations are guaranteed by all of our subsidiaries. Obligations under the Credit Agreement are secured by a first priority lien on substantially all of our and our subsidiaries' significant assets. Our creditors under the Credit Agreement have no recourse to Western's assets, except to the extent of the assets of WRGP that Western wholly owns. Borrowings under the revolving credit facility bear interest at either a base rate plus an applicable margin ranging from 0.75% to 1.75%, or at LIBOR plus an applicable margin ranging from 1.75% to 2.75%. The applicable margin will vary based on our Consolidated Total Leverage Ratio, as defined in the Credit Agreement. We had no direct or swing line borrowings and no letters of credit outstanding under our Credit Agreement as of June 30, 2014.
The Credit Agreement contains covenants that limit or restrict our ability to make cash distributions. We are required to maintain certain financial ratios, each tested on a quarterly basis for the immediately preceding four quarter period.