Subsequent Events |
3 Months Ended |
|---|---|
Mar. 31, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 14—Subsequent Events Credit Agreement On May 4, 2018, the Company entered into an amended and restated credit agreement (the “Amended Agreement”) with a majority of the lenders to the Company’s existing credit agreement. Under the Amended Agreement, the borrowing base increased from $575.0 million to $800.0 million and elected commitments increased from $475.0 million to $600.0 million. The credit facility under the Amended Agreement has a term of five years. The Amended Agreement’s interest rate and utilization fee structure is similar to the existing credit agreement described in Note 4—Long-Term Debt. However, the Amended Agreement provides for lower rates and fees, which vary depending on the percentage of the borrowing base utilized, as follows: the LIBOR margin decreased from the range of 225 to 325 basis points to 150 to 250 basis points; the alternate base rate margin decreased from the range or 125 to 225 basis points to 50 to 150 basis points; and the commitment fees, which are paid on unused amounts of the revolving credit facility, were reduced from 50 basis points to a range of 37.5 to 50 basis points. |