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Debt and Credit Facility (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Availability and Usage of Revolving Credit Facility

The following table summarizes availability and usage of our Revolving Credit Facility as determined by a borrowing base calculated as of December 31, 2020 (in millions of dollars except for borrowing rate):

 

Revolving Credit Facility borrowing commitment

 

$

375.0

 

Borrowing base availability

 

$

259.3

 

Less: Outstanding borrowings under Revolving Credit Facility

 

 

—

 

Less: Outstanding letters of credit under Revolving Credit Facility

 

 

(7.8

)

Remaining borrowing availability

 

$

251.5

 

Borrowing rate (if applicable)1

 

 

3.50

%

 

1

Such borrowing rate, if applicable, represents the interest rate for any overnight borrowings under the Revolving Credit Facility.