DEBT (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Components of Long-term Debt

The components of long-term debt as of the dates indicated below were as follows:

	June 30, 2014		December 31, 2013
	(Thousands of dollars)
Senior Notes dated March 17, 2014, interest only payable semi-annually at 5.25%, maturing March 15, 2019	$	500,000	$	—
Senior Notes dated September 23, 2010, interest only payable semi-annually at 8.625% maturing October 15, 2018		—		300,000
Revolving Credit Facility due September 1, 2015 with a group of commercial banks, interest payable at variable rates		—		79,000
Total long-term debt	$	500,000	$	379,000