Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTSOn July 8, 2020, the Company entered into an amendment (the “Amendment”) to its Revolving Credit Facility. Pursuant to the Amendment, the Company’s semi-annual borrowing base redetermination was completed and the borrowing base under the Revolving Credit Facility was reduced to $660.0 million. As of June 30, 2020, the Company had $568.0 million in outstanding borrowings under the credit facility. The next redetermination of the borrowing base is scheduled for October 1, 2020. The Amendment also amends certain other provisions of the Revolving Credit Facility, including among other things to limit the Company’s ability to maintain excess cash liquidity without using it to reduce outstanding borrowings under the Revolving Credit Facility.