Debt and Credit Agreements

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt and Credit Agreements

Debt and Credit Agreements

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

(In thousands)	March 31, 2021		December 31, 2020
6.51% weighted-average senior notes	$	37,000	$	37,000
5.58% weighted-average senior notes(1)	87,000		175,000
3.65% weighted-average senior notes(2)	925,000		925,000
Unamortized debt issuance costs	(2,877)		(3,076)
	$	1,046,123	$	1,133,924

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(1)Includes $88.0 million of current portion of long-term debt at December 31, 2020, which the Company repaid in January 2021.

(2)Includes $100.0 million of current portion of long-term debt at March 31, 2021 and December 31, 2020 due in September 2021.

At March 31, 2021, the Company was in compliance with all financial and other covenants applicable to its revolving credit facility and 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. At March 31, 2021, the Company had no borrowings outstanding under its revolving credit facility and had unused commitments of $1.5 billion.

Effective April 21, 2021, the borrowing base and available commitments were reaffirmed at $3.2 billion and $1.5 billion, respectively.