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Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Outstanding Debt
The Company's outstanding debt is summarized below:
 
 
 
As of March 31, 2019
 
As of December 31, 2018
 
Maturity Date
Principal
 
Debt Issuance Costs
 
Carrying
Amount
 
Principal
 
Debt Issuance Costs
 
Carrying
Amount
 
 
(in thousands)
Amended Credit Facility (1)
September 14, 2023
$
70,000

 
$
—

 
$
70,000

 
$
—

 
$
—

 
$
—

7.0% Senior Notes (2)
October 15, 2022
350,000

 
(3,000
)
 
347,000

 
350,000

 
(3,210
)
 
346,790

8.75% Senior Notes (3)
June 15, 2025
275,000

 
(4,232
)
 
270,768

 
275,000

 
(4,403
)
 
270,597

Lease Financing Obligation (4)
August 10, 2020
—

 
—

 
—

 
1,859

 
—

 
1,859

Total Debt
 
$
695,000

 
$
(7,232
)
 
$
687,768

 
$
626,859

 
$
(7,613
)
 
$
619,246

Less: Current Portion of Long-Term Debt (5)
 
—

 
—

 
—

 
1,859

 
—

 
1,859

Total Long-Term Debt
 
$
695,000

 
$
(7,232
)
 
$
687,768

 
$
625,000

 
$
(7,613
)
 
$
617,387



(1)
The recorded value of the Amended Credit Facility approximates its fair value due to its floating rate structure and on financing terms currently available to the Company.
(2)
The aggregate estimated fair value of the 7.0% Senior Notes was approximately $332.7 million and $329.7 million as of March 31, 2019 and December 31, 2018, respectively, based on reported market trades of these instruments.
(3)
The aggregate estimated fair value of the 8.75% Senior Notes was approximately $263.3 million and $264.7 million as of March 31, 2019 and December 31, 2018, respectively, based on reported market trades of these instruments.
(4)
The aggregate estimated fair value of the Lease Financing Obligation was approximately $1.8 million as of December 31, 2018, based on market-based parameters of comparable term secured financing instruments. The Company exercised the early buyout option and purchased the equipment for $1.8 million on February 10, 2019.
(5)
As of December 31, 2018, the current portion of long-term debt included the Lease Financing Obligation, which was settled on February 10, 2019.