Revenue

12 Months Ended

Dec. 31, 2019

Revenue Recognition and Deferred Revenue [Abstract]

REVENUE

Note 9 - Revenue

Oil, Natural Gas and Natural Gas Liquid Sales

We sell oil and natural gas products in the United States primarily within two regions of the United States: Appalachia and Illinois Basins and the Ventura Basin. We enter into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product. Most of our contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and prevailing supply and demand conditions.

Transportation and Handling

We generally purchase natural gas from producers at the wellhead or other receipt points, gather the wellhead natural gas through our gathering systems, and then sell the natural gas based on published index market prices. We remit to the producers either an agreed-upon percentage of the actual proceeds that we receive from our sales of natural gas or an agreed-upon percentage of the proceeds based on index related prices for the natural gas, regardless of the actual amount of the sales proceeds we receive. Our revenues under percent-of-proceeds/index arrangements generally correlate to the price of natural gas. Under fee-based arrangements, we receive a fee for storing natural gas. The storage revenues earned are directly related to the volume of natural gas that flows through our systems and are not directly dependent on commodity prices.

Marketing Gas Sales

We sell production purchased from third parties as well as production from our own oil and gas producing properties. Marketing gas sales are recognized on a gross basis as we purchase and take control of the gas prior to sale and are the principal in the transaction.

The following tables present our disaggregated revenue by primary region within the United States and major product line (in thousands):

	Appalachian and Illinois Basins				Ventura Basin				Total
	Year Ended December 31,				Year Ended December 31,				Year Ended December 31,
	2019		2018		2019		2018		2019		2018
Natural gas sales	$	55,279	$	14,768	$	1,189	$	1,250	$	56,468	$	16,018
Natural gas liquids sales		-		-		578		1,143		578		1,143
Oil sales		5,805		4,963		30,990		25,928		36,795		30,891
Transportation and handling		1,928		-		-		-		1,928		-
Marketing gas sales		16,920		-		-		-		16,920		-
Total	$	79,932	$	19,731	$	32,757	$	28,321	$	112,689	$	48,052