Revenue

3 Months Ended

Mar. 31, 2023

Revenue

Revenue

(4) Revenue

(a) Disaggregation of Revenue

The table set forth below presents revenue disaggregated by type and reportable segment to which it relates (in thousands). See Note 16—Reportable Segments to the unaudited condensed financial statements for more information on reportable segments.

	Three Months Ended March 31,
	2022		2023		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	995,792		668,315	Exploration and production
Natural gas liquids sales (ethane)		67,063		72,050	Exploration and production
Natural gas liquids sales (C3+ NGLs)		593,242		423,385	Exploration and production
Oil sales		63,294		51,811	Exploration and production
Marketing		69,038		58,529	Marketing
Other revenue		—		175	Exploration and production
Total revenue from contracts with customers		1,788,429		1,274,265
Income (loss) from derivatives, deferred revenue and other sources, net		(1,001,589)		134,083
Total revenue	$	786,840		1,408,348

(b) Transaction Price Allocated to Remaining Performance Obligations

For the Company’s product sales that have a contract term greater than one year, the Company utilized the practical expedient in ASC 606, Revenue from Contracts with Customers (“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 the Company’s 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 the Company’s product sales that have a contract term of one year or less, the Company 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 the Company’s sales contracts, the Company invoices customers after its performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. As of December 31, 2022 and March 31, 2023, the Company’s receivables from contracts with customers were $708 million and $379 million, respectively.