DEBT

3 Months Ended

Mar. 31, 2023

Long-term debt consisted of the following as of the dates indicated:


	March 31,		December 31,
	2023		2022
	(In thousands)
5.375% senior unsecured notes due 2027	$	430,350	$	430,350
Revolving credit facility	270,000		152,000
Unamortized debt issuance costs	(1,239)		(1,306)
Unamortized discount	(3,957)		(4,149)
Total long-term debt	$	695,154	$	576,895

The Operating Company’s Revolving Credit Facility

The Operating Company’s credit agreement, as amended to date, provides for a revolving credit facility in the maximum credit amount of $2.0 billion and a borrowing base of $580.0 million based on the Operating Company’s oil and natural gas reserves and other factors. The borrowing base is scheduled to be redetermined semi-annually in May and November. As of March 31, 2023, the Operating Company had elected a commitment amount of $500.0 million, with $270.0 million of outstanding borrowings and $230.0 million available for future borrowings. During the three months ended March 31, 2023 and 2022, the weighted average interest rates on the Operating Company’s revolving credit facility were 6.10% and 2.58%, respectively. The revolving credit facility will mature on June 2, 2025.

As of March 31, 2023, the Operating Company was in compliance with the financial maintenance covenants under its credit agreement.