Revenue Recognition Revenue Recognition (Notes)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

NOTE 5 - REVENUE RECOGNITION

Disaggregated Revenue. The following table presents crude oil, natural gas and NGLs sales disaggregated by commodity and operating region for the periods presented:

	Year Ended December 31,
Revenue by Commodity and Operating Region	2021		2020		2019
	(in thousands)
Crude oil
Wattenberg Field	$	1,275,666	$	668,948	$	767,760
Delaware Basin	255,135		147,902		252,929
Total	1,530,801		816,850		1,020,689
Natural gas
Wattenberg Field	458,870		171,755		137,143
Delaware Basin	60,733		6,997		13,877
Total	519,603		178,752		151,020
NGLs
Wattenberg Field	428,570		128,126		94,347
Delaware Basin	73,584		28,827		41,219
Total	502,154		156,953		135,566
Crude oil, natural gas and NGLs
Wattenberg Field	2,163,106		968,829		999,250
Delaware Basin	389,452		183,726		308,025
Total	$	2,552,558	$	1,152,555	$	1,307,275

Contract Assets. Contract assets include material contributions in aid of construction, which are common in purchase and processing agreements with midstream service providers that are our customers. The intent of the payments is primarily to reimburse the customer for actual costs incurred related to the construction of its gathering and processing infrastructure. Contract assets are included in other assets on the consolidated balance sheets. The contract assets are amortized as a reduction to crude oil, natural gas and NGLs sales revenue during the periods in which the related production is transferred to the customer.

The following table presents the changes in carrying amounts of the contract assets associated with our crude oil, natural gas and NGLs sales revenue for the periods presented:

	December 31,
	2021		2020
	(in thousands)
Beginning balance	$	25,872	$	11,494
Additions (Net reduction to additions previously recognized)	(7,705)		16,739
Amortized as a reduction to crude oil, natural gas and NGLs sales	(2,695)		(2,361)
Ending balance	$	15,472	$	25,872