Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Summary of Detail Comprising Debt and Related Book Values

A summary of the detail comprising the Company’s debt and the related book values for the respective periods presented is as follows (in thousands):

	June 30, 2024			December 31, 2023
9.000% Second-Priority Senior Secured Notes – due February 2029	$	625,000		$	—
9.375% Second-Priority Senior Secured Notes – due February 2031		625,000			—
12.00% Second-Priority Senior Secured Notes – due January 2026		—			638,541
11.75% Senior Secured Second Lien Notes – due April 2026		—			227,500
Bank Credit Facility – matures March 2027(1)		225,000			200,000
Total debt, before discount, premium and deferred financing cost		1,475,000			1,066,041
Unamortized discount, premium and deferred financing cost, net		(39,101	)		(40,367	)
Total debt(2)		1,435,899			1,025,674
Less: Current portion of long-term debt		—			33,060
Long-term debt	$	1,435,899		$	992,614

(1)As of June 30, 2024, the Company had outstanding borrowings at a weighted average interest rate of 8.43%.

(2)As of June 30, 2024, the Company was in compliance with all debt covenants.

Summary of Redemption Prices of 9.000% and 9.375% Notes

Thereafter, the Company may redeem all or a portion of the 9.000% Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the period commencing on February 1 of the years set forth below:

Period	Redemption Price
2026		104.500	%
2027		102.250	%
2028 and thereafter		100.000	%

Thereafter, the Company may redeem all or a portion of the 9.375% Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the period commencing on February 1 of the years set forth below:

Period	Redemption Price
2027		104.688	%
2028		102.344	%
2029 and thereafter		100.000	%