XML 42 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
Adoption of ASC 606
The adoption of ASC 606 superseded the revenue recognition requirements in ASC 605, Revenue Recognition, and had the following impact on the Company’s results of operations for the three months ended March 31, 2018:

 
Three months ended March 31, 2018
(in thousands)
As reported under ASC 606
As computed under ASC 605
Increase (Decrease)
Revenues
 
 
 
Oil, natural gas liquids and natural gas sales
$
357,866

$
359,022

$
(1,156
)
Operating Costs and Expenses
 
 
 
Oil, natural gas liquids and natural gas production
$
52,635

$
53,791

$
(1,156
)
Net Income
$
118,915

$
118,915

$
—
Disaggregation of Revenue by Major Product
In accordance with ASC 606, the Company disaggregates revenues from contracts with customers by product type. The following table summarizes our revenue by major product:

Three months ended March 31, (in thousands)
2018
Oil
$
303,995

Natural gas liquids
34,133

Natural gas
19,738

Total
$
357,866