XML 78 R48.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Long-term Debt Revolving Credit Facility (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Feb. 06, 2020
USD ($)
Dec. 31, 2018
USD ($)
Line of Credit Facility [Line Items]      
Line of credit agreement, maximum amount outstanding during period $ 100,000    
Line of credit agreement, minimum amount of unrestricted cash and investments 300,000    
Revolving credit facility $ 122,500   $ 0
Line of Credit [Member] | Borrowing Base Utilization of 25 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, unused capacity, commitment fee rate 0.375%    
Line of Credit [Member] | Borrowing Base Utilization Of 25 Percent Or More But Less Than 50 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, unused capacity, commitment fee rate 0.375%    
Line of Credit [Member] | Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, unused capacity, commitment fee rate 0.50%    
Line of Credit [Member] | Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, unused capacity, commitment fee rate 0.50%    
Line of Credit [Member] | Borrowing Base Utilization Of 90 Percent Or More [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, unused capacity, commitment fee rate 0.50%    
Line of Credit [Member] | Revolving Credit Facility [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, maximum loan amount $ 2,500,000    
Line of credit agreement, current borrowing base 1,600,000    
Line of credit agreement, aggregate lender commitment amount 1,200,000   1,000,000
Revolving credit facility [1] 122,500   0
Letters of credit [2] 0   200
Available borrowing capacity 1,077,500   999,800
Credit facility, unamortized deferred financing costs $ 5,900   $ 6,400
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, aggregate lender commitment amount   $ 1,200,000  
Revolving credit facility   113,500  
Letters of credit   0  
Available borrowing capacity   $ 1,086,500  
Eurodollar [Member] | Line of Credit [Member] | Borrowing Base Utilization of 25 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate [3] 1.50%    
Eurodollar [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 25 Percent Or More But Less Than 50 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate [3] 1.75%    
Eurodollar [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate [3] 2.00%    
Eurodollar [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate [3] 2.25%    
Eurodollar [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 90 Percent Or More [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate [3] 2.50%    
Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans [Member] | Line of Credit [Member] | Borrowing Base Utilization of 25 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate 0.50%    
Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 25 Percent Or More But Less Than 50 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate 0.75%    
Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 50 Percent Or More But Less Than 75 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate 1.00%    
Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 75 Percent Or More But Less Than 90 Percent [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate 1.25%    
Debt Instrument Variable Rate, Alternative Base Rate, And Swingline Loans [Member] | Line of Credit [Member] | Borrowing Base Utilization Of 90 Percent Or More [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, basis spread on variable rate 1.50%    
Minimum [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, covenant compliance, adjusted current ratio 1.0    
12/31/18 QE through 12/31/19 QE [Member] | Maximum [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, covenant compliance, total funded debt to adjusted EBITDAX ratio 4.25    
3/31/20 QE and Thereafter [Member] | Maximum [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]      
Line of Credit Facility [Line Items]      
Line of credit agreement, covenant compliance, total funded debt to adjusted EBITDAX ratio 4.00    
[1]
(1) 
Unamortized deferred financing costs attributable to the revolving credit facility are presented as a component of the other noncurrent assets line item on the accompanying balance sheets and totaled $5.9 million and $6.4 million as of December 31, 2019, and 2018, respectively. These costs are being amortized over the term of the credit facility on a straight-line basis.
[2]
(2) 
Letters of credit outstanding reduce the amount available under the credit facility on a dollar-for-dollar basis. The letter of credit outstanding as of December 31, 2018, was released effective January 8, 2019.
[3]
(1) 
The Company’s Credit Agreement specifies that in the event that LIBOR is no longer a widely used benchmark rate, or that it shall no longer be used for determining interest rates for loans in the United States, a replacement interest rate that fairly reflects the cost to the lenders of funding loans shall be established by the Administrative Agent, as defined in the Credit Agreement, in consultation with the borrower.