Debt, Net (Tables)

6 Months Ended

Jun. 30, 2021

The following table summarizes the components of Debt, net (dollars in thousands):


	June 30, 2021		December 31, 2020
Debt, net, current:
Sprott Credit Agreement(1)	$	9,711	$	5,274
Note payable(2)	100		—
Less, debt issuance costs	(198)		(154)
Total	$	9,613	$	5,120

Debt, net, non-current:
Subordinated Notes	$	89,090	$	84,797
Sprott Credit Agreement, net of original issue discount ($8.2 million, net)	61,782		61,894
Note payable(2)	282		—
Less, debt issuance costs	(3,298)		(4,026)
Total	$	147,856	$	142,665

(1)Amount included: (i) $2.2 million of Additional Interest, as defined in the Sprott Credit Agreement, and (ii) $7.5 million scheduled principal payments under the Sprott Credit Agreement, all due in the next twelve months.

(2)In February 2021, the Company financed the $0.4 million purchase of a rental fuel/lube truck with a note payable to the vendor with an interest rate of 0.99%, requiring equal monthly payments for 48 months.

Schedule of maturities of long-term debt

The following table summarizes the Company's contractual payments of Debt, net, including current maturities, for the five years subsequent to June 30, 2021 (dollars in thousands):


July 1, 2021 through December 31, 2021	$	4,906
2022	17,332
2023	24,836
2024	24,837
2025	101,475
Total	173,386
Less, original issue discount, net of amortization ($4.6 million)	(12,421)
Less, debt issuance costs, net of amortization ($0.4 million)	(3,496)
Total Debt, net, current and non-current	$	157,469

Components of recorded interest expense

The following table summarizes the components of recorded Interest expense, net of capitalized interest (dollars in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Sprott Credit Agreement	$	2,767	$	796	$	5,407	$	796
Subordinated Notes	2,173		711		4,293		711
Amortization of debt issuance costs	350		635		685		1,307
Other interest expense	8		8		16		8
2.0 Lien Notes	—		5,085		—		12,901
1.5 Lien Notes	—		3,496		—		8,635
1.25 Lien Notes	—		2,866		—		6,218
First Lien Agreement	—		1,708		—		4,575
Promissory Note	—		57		—		142
Capitalized interest	—		(290)		(654)		(334)
Total	$	5,298	$	15,072	$	9,747	$	34,959