Revenue Recognition

The FASB issued Revenue from Contracts with Customers (Topic 606) superseding virtually all existing revenue recognition guidance. We adopted this new standard in the Prior Quarter using the modified retrospective approach. We applied the new standard to all contracts that were not completed as of January 1, 2018 and reflected the aggregate effect of all modifications in determining and allocating the transaction price. The cumulative effect of adoption of $8 million in the Prior Quarter did not have a material impact on our consolidated financial statements.

The following table shows revenue disaggregated by operating area and product type, for the Current Quarter and the Prior Quarter:



	Three Months Ended March 31, 2019
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	302		$	—	$	302
Haynesville	—			201			—		201
Eagle Ford	331			48			46		425
Brazos Valley	121			4			2		127
Powder River Basin	74			25			10		109
Mid-Continent	40			15			11		66
Revenue from contracts with customers	566			595			69		1,230
Losses on oil, natural gas and NGL derivatives	(259		)	(42		)	—		(301		)
Oil, natural gas and NGL revenue	$	307		$	553		$	69	$	929

Marketing revenue from contracts with customers	$	613		$	413		$	117	$	1,143
Other marketing revenue	72			20			—		92
Losses on oil, natural gas and NGL derivatives	—			(2		)	—		(2		)
Marketing revenue	$	685		$	431		$	117	$	1,233

	Three Months Ended March 31, 2018
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	294		$	—	$	294
Haynesville	—			210			—		210
Eagle Ford	364			42			40		446
Powder River Basin	40			12			8		60
Mid-Continent	73			32			17		122
Utica	60			116			52		228
Revenue from contracts with customers	537			706			117		1,360
Gains (losses) on oil, natural gas and NGL derivatives	(86		)	(32		)	1		(117		)
Oil, natural gas and NGL revenue	$	451		$	674		$	118	$	1,243

Marketing revenue from contracts with customers	686			293			110		1,089
Other marketing revenue	117			40			—		157
Marketing revenue	$	803		$	333		$	110	$	1,246

Accounts Receivable

Our accounts receivable are primarily from purchasers of oil, natural gas and NGL and from exploration and production companies that own interests in properties we operate. This industry concentration could affect our overall exposure to credit risk, either positively or negatively, because our purchasers and joint working interest owners may be similarly affected by changes in economic, industry or other conditions. We monitor the creditworthiness of all our counterparties and we generally require letters of credit or parent guarantees for receivables from parties deemed to have sub-standard credit, unless the credit risk can otherwise be mitigated. We utilize an allowance method in accounting for bad debt based on historical trends in addition to specifically identifying receivables that we believe may be uncollectible. Accounts receivable as of March 31, 2019 and December 31, 2018 are detailed below:



	March 31, 2019			December 31, 2018
	($ in millions)
Oil, natural gas and NGL sales	$	887		$	976
Joint interest	262			211
Other	67			77
Allowance for doubtful accounts	(20		)	(17		)
Total accounts receivable, net	$	1,196		$	1,247