Revenue

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2024		2023		2024		Reportable Segment
Revenues from contracts with customers:
Natural gas sales	$	437,130		374,568		1,105,445		848,701	Exploration and production
Natural gas liquids sales (ethane)		50,163		65,764		122,213		128,794	Exploration and production
Natural gas liquids sales (C3+ NGLs)		347,570		423,427		770,955		878,259	Exploration and production
Oil sales		57,962		63,458		109,773		128,175	Exploration and production
Marketing		43,793		49,418		102,322		97,938	Marketing
Other revenue		365		273		540		546	Exploration and production
Total revenue from contracts with customers		936,983		976,908		2,211,248		2,082,413
Income from derivatives, deferred revenue and other sources, net		16,322		1,746		150,405		18,512
Total revenue	$	953,305		978,654		2,361,653		2,100,925

(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 June 30, 2024, the Company’s receivables from contracts with customers were $401 million and $362 million, respectively.