XML 42 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2018
Revenue from Contract with Customer [Abstract]  
Adoption of ASC 606
The adoption of ASC 606 superseded the revenue recognition requirements in ASC 605, Revenue Recognition, and had the following impact on the Company’s results of operations for the three months and six months ended June 30, 2018:

 
Three months ended June 30, 2018
(in thousands)
As reported under ASC 606
As computed under ASC 605
Increase (Decrease)
Revenues
 
 
 
Oil, natural gas liquids and natural gas sales
$
371,567

$
373,259

$
(1,692
)
Operating Costs and Expenses
 
 
 
Oil, natural gas liquids and natural gas production
$
57,958

$
59,650

$
(1,692
)
Net Income
$
68,274

$
68,274

$
—


 
Six months ended June 30, 2018
(in thousands)
As reported under ASC 606
As computed under ASC 605
Increase (Decrease)
Revenues
 
 
 
Oil, natural gas liquids and natural gas sales
$
729,433

$
732,281

$
(2,848
)
Operating Costs and Expenses
 
 
 
Oil, natural gas liquids and natural gas production
$
110,593

$
113,441

$
(2,848
)
Net Income
$
187,189

$
187,189

$
—
Disaggregation of Revenue by Major Product
In accordance with ASC 606, the Company disaggregates revenues from contracts with customers by product type. The following table summarizes our revenue by major product:

 
Three months ended
Six months ended
(in thousands)
June 30, 2018
June 30, 2018
Oil
$
316,082

$
620,077

Natural gas liquids
42,051

76,184

Natural gas
13,434

33,172

Total
$
371,567

$
729,433