Revenue

3 Months Ended

Mar. 31, 2024

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 consolidated financial statements for more information on reportable segments.

	Three Months Ended March 31,
	2023		2024		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	668,315		474,133	Exploration and production
Natural gas liquids sales (ethane)		72,050		63,030	Exploration and production
Natural gas liquids sales (C3+ NGLs)		423,385		454,832	Exploration and production
Oil sales		51,811		64,717	Exploration and production
Marketing		58,529		48,520	Marketing
Other revenue		175		273	Exploration and production
Total revenue from contracts with customers		1,274,265		1,105,505
Income from derivatives, deferred revenue and other sources, net		134,083		16,766
Total revenue	$	1,408,348		1,122,271

(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 FASB ASC Topic 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, 2023 and March 31, 2024, the Company’s receivables from contracts with customers were $401 million and $326 million, respectively.