Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following:

(in thousands)	September 30, 2018		December 31, 2017
Credit facility, due April 30, 2023	$	425,000	$	255,000
4.625% Notes, due September 1, 2021	400,000		400,000
7.32% Medium-term Notes, Series A, due July 28, 2022	20,000		20,000
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
Total	955,000		785,000
Less unamortized debt discount	339		360
Less unamortized debt issuance costs	1,488		1,779
Total	$	953,173	$	782,861

The following is a summary of information relating to Energen’s interest expense:

	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2018		2017		2018		2017
Interest expense	$	11,550	$	9,985	$	32,601	$	28,210
Amortization of debt issuance costs related to long-term debt, including our credit facility*	$	541	$	830	$	2,106	$	2,503
Commitment fees*	$	681	$	674	$	2,005	$	2,236

*Included in Energen’s total interest expense. Energen had no capitalized interest for the three months and nine months ended September 30, 2018 and 2017. For the nine months ended September 30, 2018, Energen paid commitment fees on the unused portion of the available credit facility at a current annual rate of 30 basis points.

Schedule of Aggregate Maturities of Long-Term Debt

The aggregate maturities of Energen’s long-term debt outstanding at September 30, 2018 are as follows:

(in thousands)
Remaining 2018		2019		2020		2021		2022		2023 and thereafter
$	—	$	—	$	—	$	400,000	$	20,000	$	535,000

Summary of Credit Facilities

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

(in thousands)	September 30, 2018		December 31, 2017
Credit facility outstanding	$	425,000	$	255,000
Available for borrowings	825,000		795,000
Total borrowing commitments	$	1,250,000	$	1,050,000

	Three months ended September 30,						Nine months ended September 30,
(in thousands)	2018			2017			2018			2017
Maximum amount outstanding at any month-end	$	425,000		$	238,000		$	425,000		$	238,000
Average daily amount outstanding	$	386,978		$	191,810		$	309,514		$	80,476
Weighted average interest rates based on:
Average daily amount outstanding	3.39		%	2.51		%	3.21		%	2.49		%
Amount outstanding at period-end	3.42		%	2.49		%	3.42		%	2.49		%