Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

These contracts are reported in pipeline, net marketing services and other revenues in the Statements of Consolidated Operations. Derivative contracts are also outside the scope of ASU 2014-09.

	Years Ended December 31,
	2024		2023		2022
	(Thousands)
Revenues from contracts with customers:
Production:
Sales of natural gas, NGLs and oil
Natural gas sales	$	4,224,882	$	4,520,817	$	11,448,293
NGLs sales	615,933		427,760		586,715
Oil sales	93,551		96,191		79,160
Sales of natural gas, NGLs and oil	4,934,366		5,044,768		12,114,168
Gathering:
Pipeline revenue
Firm reservation fee revenue (a)	313,987		—		—
Volumetric-based fee revenue (b)	452,476		161,395		96,947
Total	766,463		161,395		96,947
Transmission:
Pipeline revenues
Firm reservation fee revenue	183,088		—		—
Volumetric-based fee revenue	34,968		—		—
Total	218,056		—		—
Intersegment eliminations and other	(704,517)		(148,830)		(83,321)
Total revenues from contracts with customers (c)	5,214,368		5,057,333		12,127,794
Other sources of revenue:
Gain (loss) on derivatives	51,117		1,838,941		(4,642,932)
Net marketing services and other revenues	7,824		12,649		12,827
Total other sources of revenue	58,941		1,851,590		(4,630,105)
Total operating revenues	$	5,273,309	$	6,908,923	$	7,497,689

(a)Firm reservation fee revenue for the year ended December 31, 2024 included unbilled revenues supported by MVCs of $4.2 million.

(b)Volumetric-based fee revenue for the year ended December 31, 2024 included unbilled revenues supported by MVCs of $4.5 million.

(c)For contracts with customers where the Company's performance obligations had been satisfied and an unconditional right to consideration existed as of the balance sheet date, the Company recorded amounts due from contracts with customers of $939.9 million and $584.8 million in accounts receivable in the Consolidated Balance Sheets as of December 31, 2024 and 2023, respectively.

Schedule of Remaining Performance Obligations

The table excludes contracts that qualified for the exception to the relative standalone selling price method as of December 31, 2024.

	2025		2026		2027		2028		2029		Thereafter		Total
	(Thousands)
Gathering firm reservation fees:
Third-party contracts	$	101,671	$	92,311	$	85,651	$	85,651	$	85,651	$	371,792	$	822,727
Affiliate contracts	91,918		101,728		101,393		97,701		97,701		1,482,452		1,972,893
Total Gathering firm reservation fees	193,589		194,039		187,044		183,352		183,352		1,854,244		2,795,620
Gathering revenues supported by MVCs:
Third-party contracts	82,396		89,217		80,904		77,153		65,788		185,423		580,881
Affiliate contracts	372,446		397,966		410,621		411,740		410,621		2,042,451		4,045,845
Total Gathering revenues supported by MVCs	454,842		487,183		491,525		488,893		476,409		2,227,874		4,626,726
Transmission firm reservation fees:
Third-party contracts	176,189		174,435		171,768		169,410		166,324		814,742		1,672,868
Affiliate contracts	241,507		261,045		261,045		260,715		260,383		1,964,638		3,249,333
Total Transmission firm reservation fees	417,696		435,480		432,813		430,125		426,707		2,779,380		4,922,201
Total	$	1,066,127	$	1,116,702	$	1,111,382	$	1,102,370	$	1,086,468	$	6,861,498	$	12,344,547

As of December 31, 2024, the Company had no remaining performance obligations on its natural gas sales contracts with fixed consideration.