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LONG-TERM DEBT
6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
LONG-TERM DEBT

5. LONG-TERM DEBT

The components of long-term debt as of are as follows:

 

     June 30,      December 31,  
     2013      2012  
     (Thousands of dollars)  

Senior Notes issued September 23, 2010, interest only payable semi-annually at 8.625%, maturing October 15, 2018

   $ 300,000       $ 300,000   

Revolving Credit Facility due September 1, 2014 with a group of commercial banks, interest payable at variable rates

     75,723         86,755   
  

 

 

    

 

 

 

Total long-term debt

   $ 375,723       $ 386,755   
  

 

 

    

 

 

 

Other—We maintain a separate letter of credit facility that had $14.7 million in letters of credit outstanding at June 30, 2013 and December 31, 2012.

Cash paid for interest was $13.6 million for the quarter ended June 30, 2013 and $13.4 million for the quarter ended June 30, 2012. Cash paid for interest was $14.3 million for the six months ended June 30, 2013 and June 30, 2012.