XML 46 R28.htm IDEA: XBRL DOCUMENT v3.24.3
Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The table below provides disaggregated information on the Company's revenues. Certain other revenue contracts are outside the scope of ASU 2014-09, Revenue from Contracts with Customers. These contracts are reported in pipeline, net marketing services and other revenues in the Statements of Condensed Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
(Thousands)
Revenues from contracts with customers:
Production:
Sales of natural gas, NGLs and oil
Natural gas sales$938,911 $859,512 $2,791,190 $3,337,600 
NGLs sales139,697 108,205 435,581 274,932 
Oil sales21,144 34,166 66,403 68,034 
Sales of natural gas, NGLs and oil1,099,752 1,001,883 3,293,174 3,680,566 
Gathering:
Pipeline revenues
Firm reservation fee revenues (a)136,752 — 136,752 — 
Volumetric-based fee revenues140,077 42,057 278,739 95,753 
Total276,829 42,057 415,491 95,753 
Transmission:
Pipeline revenues
Firm reservation fee revenues73,034 — 73,034 — 
Volumetric-based fee revenues14,226 — 14,226 — 
Total87,260 — 87,260 — 
Other and intersegment eliminations(252,805)(39,200)(384,884)(87,214)
Total revenues from contracts with customers$1,211,036 $1,004,740 $3,411,041 $3,689,105 
Other sources of revenue:
Gain on derivatives$66,816 $177,906 $234,660 $1,167,144 
Net marketing services and other revenues5,950 3,456 2,881 9,675 
Total other sources of revenue$72,766 $181,362 $237,541 $1,176,819 
Total operating revenues$1,283,802 $1,186,102 $3,648,582 $4,865,924 
(a)Firm reservation fee revenues for the three and nine months ended September 30, 2024 included unbilled revenues supported by MVCs of approximately $1.8 million.
Schedule of Remaining Performance Obligations The following table summarizes the transaction price allocated to the Company's remaining obligations on all contracts with fixed consideration as of September 30, 2024. The table excludes contracts that qualified for the exception to the relative standalone selling price method as of September 30, 2024. The MVP Joint Venture is accounted for as an equity method investment and, as such, its remaining performance obligations have been excluded from the table.
2024 (a)2025202620272028ThereafterTotal
(Thousands)
Gathering firm reservation fees:
Third-party contracts$25,850 $101,137 $92,186 $85,651 $85,651 $457,444 $847,919 
Affiliate contracts22,445 87,075 80,698 80,362 76,670 1,188,383 1,535,633 
Total Gathering firm reservation fees48,295 188,212 172,884 166,013 162,321 1,645,827 2,383,552 
Gathering revenues supported by MVCs:
Third-party contracts21,036 82,257 89,078 80,765 77,014 250,652 600,802 
Affiliate contracts90,630 372,446 397,966 410,621 411,740 2,453,073 4,136,476 
Total Gathering revenues supported by MVCs111,666 454,703 487,044 491,386 488,754 2,703,725 4,737,278 
Transmission firm reservation fees:
Third-party contracts48,754 175,010 174,191 171,750 169,393 980,973 1,720,071 
Affiliate contracts57,415 227,116 225,588 225,588 225,260 1,752,347 2,713,314 
Total Transmission firm reservation fees106,169 402,126 399,779 397,338 394,653 2,733,320 4,433,385 
Total$266,130 $1,045,041 $1,059,707 $1,054,737 $1,045,728 $7,082,872 $11,554,215 
(a)October 1 through December 31.

As of September 30, 2024, the Company had no remaining performance obligations on its natural gas sales contracts with fixed consideration.