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Debt and Credit Agreements

6 Months Ended

Jun. 30, 2020

The Company’s debt and credit agreements consisted of the following:



(In thousands)	June 30, 2020			December 31, 2019
6.51% weighted-average senior notes⁽¹⁾	$	124,000		$	124,000
5.58% weighted-average senior notes⁽²⁾	175,000			175,000
3.65% weighted-average senior notes	925,000			925,000
Revolving credit facility	—			—
Unamortized debt issuance costs	(3,505		)	(3,975		)
	$	1,220,495		$	1,220,025

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(1)	Includes $87.0 million of current portion of long-term debt at June 30, 2020 and December 31, 2019, respectively, due in July 2020.


(2)	Includes $88.0 million of current portion of long-term debt at June 30, 2020 due in January 2021.

At June 30, 2020, the Company was in compliance with all restrictive financial covenants for both its revolving credit facility and senior notes.

Subsequent Event. In July 2020, the Company repaid $87.0 million of maturities associated with its 6.51% weighted-average senior notes.

Revolving Credit Agreement

The borrowing base under the terms of the Company's revolving credit facility is redetermined annually in April. In addition, either the Company or the banks may request an interim redetermination twice a year or in connection with certain acquisitions or divestitures of oil and gas properties. Effective April 23, 2020, the borrowing base and available commitments were reaffirmed at $3.2 billion and $1.5 billion, respectively.

At June 30, 2020, the Company had no borrowings outstanding under its revolving credit facility and had unused commitments of $1.5 billion.