Annual report pursuant to Section 13 and 15(d)

Revenue

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Revenue
12 Months Ended
Dec. 31, 2019
Revenue  
Revenue

(4) Revenue

(a)Disaggregation of Revenue

Revenue is disaggregated by type (in thousands) in the following table. The table also identifies which reportable segment that the disaggregated revenues relate. For more information on reportable segments, see Note 18—Segment Information.

Year ended December 31,

Segment to which

2017

2018

2019

revenues relate

Revenues from contracts with customers:

Natural gas sales

$

1,769,284

$

2,287,939

2,247,162

Exploration and production

Natural gas liquids sales (ethane)

93,041

172,653

124,563

Exploration and production

Natural gas liquids sales (C3+ NGLs)

777,400

1,005,124

1,094,599

Exploration and production

Oil sales

108,195

187,178

177,549

Exploration and production

Gathering and compression (1)

11,386

17,817

 

3,972

Equity method investment in AMC

Water handling and treatment (1)

1,334

3,527

506

Equity method investment in AMC

Marketing

258,045

458,901

292,207

Marketing

Total

3,018,685

4,133,139

 

3,940,558

Revenue from derivatives and other sources

636,889

6,487

468,132

Total revenue and other

$

3,655,574

$

4,139,626

4,408,690

(1)

Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3 to the consolidated financial statements for further discussion on the Transactions.

(b)Transaction Price Allocated to Remaining Performance Obligations

For our product sales that have a contract term greater than one year, we have utilized the practical expedient in ASC 606, which does not require the disclosure of the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under our product sales contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. For our product sales that have a contract term of one year or less, we have utilized the practical expedient in ASC 606, which does not require the disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

(c)Contract Balances

Under our sales contracts, we invoice customers after our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our contracts do not give rise to contract assets or liabilities under ASC 606. At December 31, 2018 and 2019, our receivables from contracts with customers were $475 million and $318 million, respectively.