DEBT (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Summary of Long-Term Debt Obligations

The carrying values of our long-term debt obligations, net of unamortized debt issuance costs of $5 million as of March 31, 2018 and December 31, 2017, are as follows:

	March 31, 2018		December 31, 2017
	(In thousands)
Senior Notes	$	495,383	$	495,000
North Ocean 105 construction financing		24,511		24,511
Vendor equipment financing		15,686		15,686
Other, including capital lease obligations		1,678		1,780
		537,258		536,977
Less: Amounts due within one year		24,264		24,264
Total long-term debt	$	512,994	$	512,713

Schedule of Available Capacity Under Credit Agreement

Available capacity under the Current Credit Agreement is as follows:

	Capacity		Utilized
			March 31, 2018		December 31, 2017
	(In millions)
Letters of Credit(1)	$	510	$	390	$	407
Revolving Credit Facility/ Letters of Credit		300		-		-

⁽¹⁾ Includes$19 million of financial letters of credit as of March 31, 2018 and as of December 31, 2017.

Schedule of Uncommitted Bilateral Credit Facilities

Uncommitted Bilateral Credit Facilities—We are party to a number of short-term uncommitted bilateral credit facilities (the “Uncommitted Facilities”) across several geographic regions, as follows:

	March 31, 2018				December 31, 2017
	Uncommitted Line Capacity		Utilized		Uncommitted Line Capacity		Utilized
	(In millions)
Bank Guarantee and Bilateral Letter of Credit	$	875	$	545	$	725	$	572
Surety Bonds	300		48		300		49
Bilateral arrangements to issue cash collateralized letters of credit		175		6		175		18