Revenue

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2022		2023		2022		2023		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	1,736,039		516,214		4,290,825		1,621,659	Exploration and production
Natural gas liquids sales (ethane)		117,253		78,551		274,546		200,764	Exploration and production
Natural gas liquids sales (C3+ NGLs)		503,563		404,019		1,708,963		1,174,974	Exploration and production
Oil sales		67,025		62,629		219,504		172,402	Exploration and production
Marketing		159,985		53,068		335,173		155,390	Marketing
Other revenue		—		—		—		540	Exploration and production
Total revenue from contracts with customers		2,583,865		1,114,481		6,829,011		3,325,729
Income (loss) from derivatives, deferred revenue and other sources, net		(519,241)		11,695		(1,775,862)		162,100
Total revenue	$	2,064,624		1,126,176		5,053,149		3,487,829

(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 September 30, 2023, the Company’s receivables from contracts with customers were $708 million and $373 million, respectively.