13. Subsequent Events

Effective April 19, 2013, the borrowing base and the amount available for borrowing under the revolving bank credit facility was increased to $800.0 million. There were no changes to the terms of the Credit Agreement, such as the maturity date, interest rates, covenants or collateral.

On May 7, 2013, at our annual shareholder meeting, our shareholders approved a proposal to increase the number of shares available for issuance in the Plan by 4,000,000 shares beyond the amount previously authorized and to extend the term of the Plan for an additional five years to April 15, 2019. This increase in shares reserved for issuance under the Plan is expected to be registered with the SEC within one month. The source of the shares to be issued as awards may come from authorized but unissued common stock or common stock held in the Company’s treasury, which was previously acquired by the Company in the open market. In addition, an amendment to the Plan was approved, which allows the Compensation Committee to take certain transactions, accounting or legal changes, and charges or certain other unusual items into account when determining whether performance goals that are applicable to performance awards under the Plan have been met.