5 unchanged sentences
In addition, we focus on utilizing counterparties for these transactions whose financial condition is appropriate for the credit risk involved in each specific transaction.
−Removed: We have entered into hedging transactions as of December 31, 2019 to protect a portion of our commodity price risk exposure.
+Added: We have entered into hedging transactions as of December 31, 2020 to mitigate a portion of our commodity price risk exposure.
These hedging arrangements are in the form of swaps for NGLs.
4 unchanged sentences
Interest Rate Risk.
−Removed: We are exposed to changes in interest rates as a result of our credit facility, which had a weighted-average interest rate of 5.26% as of December 31, 2019 .
+Added: Borrowings under our revolving credit facility are at variable rates and include a LIBOR floor of 1.00%.
+Added: Our revolving credit facility had a weighted-average interest rate of 4.75% as of December 31, 2020.
Based on the amount of unhedged floating rate debt owed by us on December 31, 2020, the impact of a 100 basis point increase in interest rates on this amount of debt would result in an increase in interest expense and a corresponding decrease in net income of approximately $0.2 million annually.
−Removed: We are not exposed to changes in interest rates with respect to our senior unsecured notes as these obligations are fixed rate.
−Removed: The estimated fair value of the 2021 Notes was approximately $343.5 million as of December 31, 2019 , based on market prices of similar debt at December 31, 2019 .
+Added: We are not exposed to changes in interest rates with respect to our 2021 Notes, 2024 Notes and 2025 Notes as these obligations are fixed rate.
+Added: Based on the quoted prices for identical liabilities in markets that are not active at December 31, 2020, the estimated fair value of the 2021 Notes, 2024 Notes and 2025 Notes was $28.6 million, $55.2 million and $288.7 million, respectively.
Market risk is estimated as the potential decrease in fair value of our long-term debt resulting from a hypothetical increase of a 100 basis point increase in interest rates.
−Removed: Such an increase in interest rates would result in approximately a $3.5 million decrease in fair value of our long-term debt at December 31, 2019 .
+Added: Such an increase in interest rates at December 31, 2020 would result in a $0.5 million decrease in the fair value of our 2021 Notes, a $0.9 million decrease in the fair value of our 2024 Notes, and a $5.0 million decrease in the fair value of our 2025 Notes.
+Added: On February 15, 2021, our 2021 Notes matured and we retired the outstanding balance of $28.8 million using our revolving credit facility.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.