XML 22 R10.htm IDEA: XBRL DOCUMENT v3.22.2
REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenue
The following table presents a disaggregation of the Company’s revenue.
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In thousands)
Gathering and processing services$102,080 $62,242 $182,525 $129,904 
Natural gas, NGLs and condensate sales229,651 71,099 404,579 151,092 
Other revenue3,841 2,425 5,717 2,873 
Total revenues and other$335,572 $135,766 $592,821 $283,869 
There have been no significant changes to the Company’s contracts with customers during the three and six months ended June 30, 2022. Contracts with customers acquired through the Transaction had similar structures as the Company’s existing contracts with customers. The Company recognized revenues from MVC deficiency payments of $0.3 million and nil for the three months ended June 30, 2022 and 2021, respectively, and $0.3 million and $2.5 million for the six months ended June 30, 2022 and 2021, respectively.

Remaining Performance Obligations
The following table presents our estimated revenue from contracts with customers for remaining performance obligations that has not yet been recognized, representing our contractually committed revenues as of June 30, 2022:
Amount
Fiscal Year(In thousands)
Remaining of 2022$10,633 
202343,177 
202440,247 
202549,182 
202634,631 
Thereafter191,293 
$369,163 
Our contractually committed revenue, for purposes of the tabular presentation above, is generally limited to customer contracts that have fixed pricing and fixed volume terms and conditions, generally including contracts with payment obligations associated with MVCs.
Contract Liabilities
The following table provides information about contract liabilities from contracts with customers as of June 30, 2022:
Amount
(In thousands)
Balance at December 31, 2021$14,756 
Reclassification of beginning contract liabilities to revenue as a result of performance obligation being satisfied(3,224)
Cash received and not recognized as revenue17,517 
Balance at June 30, 202229,049 
Less: Current portion6,150 
Non-current portion$22,899 
Contract liabilities relate to payments received in advance of satisfying performance obligations under a contract, which result from contribution in aid of construction payments. Current and noncurrent contract liabilities are included in “Other Current Liabilities” and “Contract Liabilities,” respectively, of the Condensed Consolidated Balance Sheets.
Contract Cost Assets
The Company has capitalized certain costs incurred to obtain a contract that would not have been incurred if the contract had not been obtained. These costs are recovered through the net cash flows of the associated contract. As of June 30, 2022 and December 31, 2021, the Company had contract acquisition cost assets of $17.5 million and $18.4 million, respectively. Current and noncurrent contract cost assets are included in “Prepaid and Other Current Assets” and “Deferred Charges and Other Assets,” respectively, of the Condensed Consolidated Balance Sheets. The Company amortizes these assets as cost of sales on a straight-line basis over the life of the associated long-term customer contract. The Company recognized cost of sales associated with these assets of $0.4 million and $0.4 million for the three months ended June 30, 2022 and 2021, respectively, and $0.9 million and $0.9 million for the six months ended June 30, 2022 and 2021, respectively.