XML 39 R28.htm IDEA: XBRL DOCUMENT v3.19.2
Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
For the three-months ended June 30, 2019 and 2018, the Company recognized $646.1 million and $426.8 million, respectively, from contracts with customers for the sales of oil, natural gas liquids and natural gas. For the six-months ended June 30, 2019 and 2018 the Company recognized $1,236.7 million and $823.1 million, respectively, from contracts with customers for the sales of oil, natural gas liquids and natural gas.
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(Thousands of dollars)
 
2019
 
2018
 
2019
 
2018
Net crude oil and condensate revenue
 
 
 
 
 
 
 
United States
Onshore
$
192,182

 
198,823

 
325,772

 
381,472

                     
Offshore
334,189

 
94,393

 
650,212

 
165,922

Canada    
Onshore
26,472

 
28,426

 
53,816

 
49,719

 
Offshore
41,518

 
48,316

 
85,364

 
102,631

Other
 
3,123

 

 
5,975

 

Total crude oil and condensate revenue
597,484

 
369,958

 
1,121,139

 
699,744

 
 
 
 
 
 
 
 
 
Net natural gas liquids revenue
 
 
 
 
 
 
 
United States
Onshore
6,384

 
13,236

 
12,525

 
25,370

 
Offshore
2,988

 
2,920

 
7,164

 
4,559

Canada
Onshore
2,771

 
3,447

 
6,229

 
6,916

Total natural gas liquids revenue
12,143

 
19,603

 
25,918

 
36,845

 
 
 
 
 
 
 
 
 
Net natural gas revenue
 
 
 
 
 
 
 
United States
Onshore
5,533

 
6,292

 
11,397

 
13,062

 
Offshore
6,643

 
2,825

 
9,149

 
5,762

Canada   
Onshore
24,311

 
28,089

 
69,061

 
67,683

Total natural gas revenue
36,487

 
37,206

 
89,607

 
86,507

Total revenue from contracts with customers
646,114

 
426,767

 
1,236,664

 
823,096

 
 
 
 
 
 
 
 
 
Gain (loss) on crude contracts
57,916

 
(37,624
)
 
57,916

 
(67,126
)
Gain on sale of assets and other income
5,019

 
437

 
5,473

 
8,400

Total revenue
 
$
709,049

 
389,580

 
1,300,053

 
764,370


Current Long-Term Contracts Outstanding
As of June 30, 2019, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period of 12 months or more starting at the inception of the contract:
໿
Current Long-Term Contracts Outstanding at June 30, 2019
 
 
 
 
 
 
 
 
 
Location
 
Commodity
 
End Date
 
Description
 
Approximate Volumes
U.S.
 
Oil
 
Q3 2019
 
Fixed quantity delivery in Eagle Ford
 
4,000 BOED
U.S.
 
Oil
 
Q4 2021
 
Fixed quantity delivery in Eagle Ford
 
17,000 BOED
U.S.
 
Oil, Gas and NGL
 
Q2 2026
 
Deliveries from dedicated acreage in Eagle Ford
 
As produced
Canada
 
Gas
 
Q4 2020
 
Contracts to sell natural gas at Alberta AECO fixed prices
 
59 MMCFD
Canada
 
Gas
 
Q4 2020
 
Contracts to sell natural gas at USD Index pricing
 
60 MMCFD
Canada
 
Gas
 
Q4 2024
 
Contracts to sell natural gas at USD Index pricing
 
30 MMCFD
Canada
 
Gas
 
Q4 2026
 
Contracts to sell natural gas at USD Index pricing
 
38 MMCFD