DEBT AND CREDIT AGREEMENTS

6 Months Ended

Jun. 30, 2013

DEBT AND CREDIT AGREEMENTS

DEBT AND CREDIT AGREEMENTS

4. DEBT AND CREDIT AGREEMENTS

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

(In thousands)	June 30, 2013			December 31, 2012
Total debt
7.33% weighted-average fixed rate notes	$	95,000		$	95,000
6.51% weighted-average fixed rate notes	425,000			425,000
9.78% notes	67,000			67,000
5.58% weighted-average fixed rate notes	175,000			175,000
Credit facility	380,000			325,000
Current maturities
7.33% weighted-average fixed rate notes	(75,000		)	(75,000		)
Long-term debt, excluding current maturities	$	1,067,000		$	1,012,000

Effective April 17, 2013, the lenders under the Company’s revolving credit facility approved an increase in the Company’s borrowing base from $1.7 billion to $2.3 billion as part of the annual redetermination under the terms of the credit facility. The Company’s commitments under the credit facility of $900.0 million remained unchanged. At June 30, 2013, the Company had $380.0 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 2.0% and $519.0 million available for future borrowings.