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Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Components of Debt

Listed below is information regarding our indebtedness.  All indebtedness owed under our Senior Notes as of June 30, 2019 is classified as subject to compromise, and as of December 31, 2018 was classified as short-term debt on our balance sheet.  The Thirty-Two, LLC and Blue Torch term loans are classified as long-term debt as of June 30, 2019, except for the amount due within the next twelve months.

 

 

 

June 30, 2019

 

 

December 31, 2018

 

 

 

Principal

 

 

Unamortized

Debt

Issuance

Debt Cost

 

 

Principal

 

 

Unamortized

Debt

Issuance

Debt Cost

 

Unsecured

 

(Thousands of dollars)

 

Senior Notes issued March 17, 2014, interest only payable semi-annually at 5.25%, matured March 15, 2019

 

$

500,000

 

 

$

 

 

$

500,000

 

 

$

260

 

Secured

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loan - Blue Torch Finance, LLC, interest payable quarterly at LIBOR plus 6%, maturing March 13, 2023

 

 

70,000

 

 

 

5,254

 

 

 

 

 

 

 

Related Party Term Loan - Thirty Two L.L.C., interest payable quarterly at 6%, due September 28, 2020

 

 

130,000

 

 

 

546

 

 

 

130,000

 

 

 

765

 

Total indebtedness

 

 

700,000

 

 

 

5,800

 

 

 

630,000

 

 

 

1,025

 

Less: Current maturities

 

 

(1,750

)

 

 

 

 

 

(500,000

)

 

 

 

 

 

$

698,250

 

 

$

5,800

 

 

$

130,000

 

 

$

1,025