Long-Term Debt and Notes Payable (Tables)

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Long-term debt

Long-term debt consisted of the following:

(in thousands)	March 31, 2015		December 31, 2014
Credit facility	$	685,000	$	485,000
7.40% Medium-term Notes, Series A, due July 24, 2017	2,000		2,000
7.36% Medium-term Notes, Series A, due July 24, 2017	15,000		15,000
7.23% Medium-term Notes, Series A, due July 28, 2017	2,000		2,000
7.32% Medium-term Notes, Series A, due July 28, 2022	20,000		20,000
7.60% Medium-term Notes, Series A, due July 26, 2027	5,000		5,000
7.35% Medium-term Notes, Series A, due July 28, 2027	10,000		10,000
7.125% Medium-term Notes, Series B, due February 15, 2028	100,000		100,000
4.625% Notes, due September 1, 2021	400,000		400,000
	1,239,000		1,039,000
Less unamortized debt discount	431		437
Total Energen	$	1,238,569	$	1,038,563

Maturities of Long-term Debt

The aggregate maturities of Energen’s long-term debt outstanding at March 31, 2015 are as follows:

(in thousands)
Remaining 2015	2016	2017	2018	2019	2020 and thereafter
$—	$—	$19,000	$—	$685,000	$535,000

Summary of Credit Facilities

The following is a summary of information relating to Energen’s credit facilities:

(in thousands)	April 16, 2015		December 31, 2014
Credit facility outstanding	$	685,000	$	485,000
Available for borrowings*	915,000		1,515,000
Total borrowing commitments*	$	1,600,000	$	2,000,000

*Available for borrowings reflect the decrease in borrowing commitments to $1.6 billion effective April 16, 2015. Borrowing commitments available at March 31, 2015 were $2.0 billion.

(in thousands)	March 31, 2015			December 31, 2014
Maximum amount outstanding at any month-end	$	685,000		$	750,000
Average daily amount outstanding	$	569,589		$	482,166
Weighted average interest rates based on:
Average daily amount outstanding	1.60		%	1.46		%
Amount outstanding at period-end	1.68		%	1.67		%