Revenue

12 Months Ended

Dec. 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 17—Reportable Segments to the consolidated financial statements for more information on reportable segments.

	Year Ended December 31,
	2021		2022		2023		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	3,442,028		5,520,419		2,192,349	Exploration and production
Natural gas liquids sales (ethane)		206,889		384,079		250,116	Exploration and production
Natural gas liquids sales (C3+ NGLs)		1,940,610		2,114,578		1,586,834	Exploration and production
Oil sales		201,232		275,673		247,146	Exploration and production
Marketing		718,921		416,758		206,122	Marketing
Other revenue		—		—		633	Exploration and production
Total revenue from contracts with customers		6,509,680		8,711,507		4,483,200
Income (loss) from derivatives, deferred revenue and other sources, net		(1,890,248)		(1,573,071)		198,772
Total revenue	$	4,619,432		7,138,436		4,681,972

(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 2023, the Company’s receivables from contracts with customers were $708 million and $401 million, respectively.