Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

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, 2020
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	175		$	—	$	175
Haynesville	—			85			—		85
Eagle Ford	277			31			20		328
Brazos Valley	172			4			4		180
Powder River Basin	68			15			7		90
Mid-Continent	22			10			4		36
Revenue from contracts with customers	539			320			35		894
Gains on oil, natural gas and NGL derivatives	839			68			—		907
Oil, natural gas and NGL revenue	$	1,378		$	388		$	35	$	1,801
Marketing revenue from contracts with customers	$	508		$	124		$	30	$	662
Other marketing revenue	61			1			—		62
Marketing revenue	$	569		$	125		$	30	$	724
	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 marketing derivatives	—			(2		)	—		(2		)
Marketing revenue	$	685		$	431		$	117	$	1,233

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 estimate expected credit losses using forecasts based on historical information and current information, in addition to specifically identifying receivables that may be uncollectible.

On January 1, 2020 we adopted ASU 2016-03, Financial Instruments-Credit Losses. The standard, as further amended, affects trade receivables, financial assets and certain other instruments that are not measured at fair value through net income. This ASU replaced the previously required incurred loss approach for estimating credit losses with an expected loss model. The adoption and implementation of this ASU did not have a material impact on our accounts receivable.

Accounts receivable as of March 31, 2020 and December 31, 2019 are detailed below:

	March 31, 2020			December 31, 2019
	($ in millions)
Oil, natural gas and NGL sales	$	458		$	737
Joint interest	178			200
Other	150			74
Allowance for doubtful accounts	(24		)	(21		)
Total accounts receivable, net	$	762		$	990