Revenues from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

Revenues from Contracts with Customers

(5) REVENUES FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition

Natural gas, NGLs and oil sales revenues are generally recognized at the point in time that control of the product is transferred to the customer and collectability is reasonably assured.

Disaggregation of Revenue

We have three material revenue streams in our business: natural gas sales, NGLs sales and oil sales. Brokered revenue attributable to each product sales type is included here because the volume of product that we purchase is subsequently sold to separate counterparties in accordance with existing sales contracts under which we also sell our production. Our net brokered margin was a gain of $5.6 million in first quarter 2019 compared to a gain of $3.1 million in first quarter 2018. Currently, our product sales that have a contractual term greater than one year have no long-term fixed consideration. Accounts receivable attributable to our revenue contracts with customers was $315.2 million at March 31, 2019 and $438.3 million at December 31, 2018. Revenue attributable to each of our identified revenue streams is disaggregated below (in thousands):

	Three Months Ended March 31,
		2019		2018
Natural gas sales (a)	$	572,510	$	491,248
NGLs sales (b)		198,237		202,831
Oil sales		39,121		62,529
Total	$	809,868	$	756,608

^(a) Natural gas sales revenue reported above for first quarter 2019 includes $134.8 million of brokered revenues and $3.0 million of marketing revenue. First quarter 2018 includes $55.9 million of brokered revenues and $3.8 million of marketing revenue.

^(b) NGLs sales revenue reported above for the first quarter 2019 includes $424,000 of brokered revenues and first quarter 2018 includes $304,000 of brokered revenues.