Revenue

9 Months Ended

Sep. 30, 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 the Prior Quarter, the Current Period and the Prior Period:

	Three Months Ended September 30, 2020
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	137		$	—	$	137
Haynesville	—			92			—		92
Eagle Ford	189			26			26		241
Brazos Valley	127			3			3		133
Powder River Basin	36			7			4		47
Mid-Continent	14			5			3		22
Revenue from contracts with customers	366			270			36		672
Losses on oil, natural gas and NGL derivatives	(2		)	(159		)	—		(161		)
Oil, natural gas and NGL revenue	$	364		$	111		$	36	$	511
Marketing revenue	$	301		$	116		$	31	$	448
	Three Months Ended September 30, 2019
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	158		$	—	$	158
Haynesville	—			129			—		129
Eagle Ford	282			32			22		336
Brazos Valley	194			10			5		209
Powder River Basin	97			16			5		118
Mid-Continent	40			8			5		53
Revenue from contracts with customers	613			353			37		1,003
Gains on oil, natural gas and NGL derivatives	124			43			—		167
Oil, natural gas and NGL revenue	$	737		$	396		$	37	$	1,170
Marketing revenue from contracts with customers	$	603		$	165		$	37	$	805
Other marketing revenue	80			4			—		84
Marketing revenue	$	683		$	169		$	37	$	889

	Nine Months Ended September 30, 2020
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	445		$	—	$	445
Haynesville	—			245			—		245
Eagle Ford	539			77			59		675
Brazos Valley	375			10			9		394
Powder River Basin	133			28			14		175
Mid-Continent	44			19			9		72
Revenue from contracts with customers	1,091			824			91		2,006
Gains (losses) on oil, natural gas and NGL derivatives	689			(116		)	—		573
Oil, natural gas and NGL revenue	$	1,780		$	708		$	91	$	2,579
Marketing revenue from contracts with customers	$	930		$	338		$	76	$	1,344
Other marketing revenue	67			1			—		68
Marketing revenue	$	997		$	339		$	76	$	1,412
	Nine Months Ended September 30, 2019
	Oil			Natural Gas			NGL		Total
	($ in millions)
Marcellus	$	—		$	657		$	—	$	657
Haynesville	—			494			—		494
Eagle Ford	962			117			88		1,167
Brazos Valley	513			23			12		548
Powder River Basin	273			59			23		355
Mid-Continent	131			34			26		191
Revenue from contracts with customers	1,879			1,384			149		3,412
Gains (losses) on oil, natural gas and NGL derivatives	(49		)	190			—		141
Oil, natural gas and NGL revenue	$	1,830		$	1,574		$	149	$	3,553
Marketing revenue from contracts with customers	$	1,830		$	741		$	202	$	2,773
Other marketing revenue	230			38			—		268
Losses on marketing derivatives	—			(3		)	—		(3		)
Marketing revenue	$	2,060		$	776		$	202	$	3,038

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 September 30, 2020 and December 31, 2019 are detailed below:

	September 30, 2020			December 31, 2019
	($ in millions)
Oil, natural gas and NGL sales	$	547		$	737
Joint interest	91			200
Other	67			74
Allowance for doubtful accounts	(29		)	(21		)
Total accounts receivable, net	$	676		$	990