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Revenue Recognition | 6 Months Ended
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Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Disaggregation of revenues Revenues associated with contracts with customers for crude oil, natural gas and natural gas liquids (“NGL”) sales were as follows for the three and six months ended June 30, 2019 and 2018:
Exploration and Production Revenues |  |  |  |  |  |  |
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands) |  |  |  |  |  |
Crude oil revenues | $ | 327,977 |  | $ | 363,182 |  | $ | 646,098 |  | $ | 689,492
Purchased crude oil sales | 106,441 |  | 127,212 |  | 253,577 |  | 194,872
Natural gas revenues | 9,734 |  | 23,059 |  | 41,330 |  | 50,021
Purchased natural gas sales | 2,920 |  | 496 |  | 4,255 |  | 545
NGL revenues | 19,293 |  | 11,608 |  | 38,358 |  | 24,931
Total exploration and production revenues | $ | 466,365 |  | $ | 525,557 |  | $ | 983,618 |  | $ | 959,861
Revenues associated with contracts with customers for midstream services under fee-based arrangements and midstream product sales from purchase arrangements were as follows for the three and six months ended June 30, 2019 and 2018:
Midstream Revenues(1) |  |  |  |  |  |  |
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands) |  |  |  |  |  |
Midstream service revenues |  |  |  |  |  |  |
Crude oil and natural gas revenues | $ | 22,875 |  | $ | 17,907 |  | $ | 47,538 |  | $ | 35,936
Produced and flowback water revenues | 9,473 |  | 9,058 |  | 18,506 |  | 17,934
Total midstream service revenues | $ | 32,348 |  | $ | 26,965 |  | $ | 66,044 |  | $ | 53,870
Midstream product revenues |  |  |  |  |  |  |
Purchased crude oil sales | $ | 28 |  | $ | 356 |  | $ | 28 |  | $ | 356
Natural gas and NGL revenues | 17,319 |  | — |  | 30,116 |  | —
Freshwater revenues | 1,906 |  | 2,377 |  | 3,434 |  | 3,394
Total midstream product revenues | $ | 19,253 |  | $ | 2,733 |  | $ | 33,578 |  | $ | 3,750
Total midstream revenues | $ | 51,601 |  | $ | 29,698 |  | $ | 99,622 |  | $ | 57,620
__________________ (1)Represents midstream revenues, excluding all intercompany revenues for work performed by the midstream services business segment for the Company’s ownership interests that are eliminated in consolidation and are therefore not included in consolidated midstream services revenues. Revenues associated with contracts with customers for well services were as follows for the three and six months ended June 30, 2019 and 2018:
Well Services Revenues(1) |  |  |  |  |  |  |
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands) |  |  |  |  |  |
Hydraulic fracturing revenues | $ | 10,628 |  | $ | 17,390 |  | $ | 20,403 |  | $ | 27,816
Equipment rental revenues | 811 |  | 1,106 |  | 1,494 |  | 2,266
Total well services revenues | $ | 11,439 |  | $ | 18,496 |  | $ | 21,897 |  | $ | 30,082
__________________ (1)Represents well services revenues, excluding all intercompany revenues for work performed by the well services business segment for the Company’s ownership interests that are eliminated in consolidation and are therefore not included in consolidated well services revenues. Prior period performance obligations For sales of commodities, the Company records revenue in the month production is delivered to the purchaser. However, settlement statements and payment may not be received for 30 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. The Company records the differences between estimates and the actual amounts received for product sales once payment is received from the purchaser. Such differences have historically not been significant. The Company uses knowledge of its properties, its properties’ historical performance, spot market prices and other factors as the basis for these estimates. For the three and six months ended June 30, 2019 and 2018, revenue recognized related to performance obligations satisfied in prior reporting periods was not material. Contract balances Contract balances are the result of timing differences between revenue recognition, billings and cash collections. Contract liabilities are recorded for consideration received from customers primarily related to (i) temporary deficiency quantities under minimum volume commitments, which are recognized as revenue when the customer makes up the volumes or the deficiency makeup period expires and (ii) aid in construction payments received from customers which are recognized as revenue over the expected period of future benefit. The Company does not recognize contract assets or contract liabilities under its customer contracts for which invoicing occurs once the Company’s performance obligations have been satisfied and payment is unconditional. No material contract balances were recorded in the condensed consolidated financial statements at June 30, 2019 or December 31, 2018. Remaining performance obligations The following table presents estimated revenue allocated to remaining performance obligations for contracted revenues that are unsatisfied (or partially satisfied) as of June 30, 2019:
| (In thousands)
2019 (excluding the six months ended June 30, 2019) | $ | 11,189
2020 | 24,183
2021 | 27,035
2022 | 19,262
2023 | 12,642
Thereafter | 14,642
Total | $ | 108,953
The partially and wholly unsatisfied performance obligations presented in the table above are generally limited to customer contracts which have fixed pricing and fixed volume terms and conditions, which generally include customer contracts with minimum volume commitment payment obligations. The Company has elected practical expedients, pursuant to ASC 606, to exclude from the presentation of remaining performance obligations: (i) contracts with index-based pricing or variable volume attributes in which such variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct service that forms part of a series of distinct services; (ii) contracts with an original expected duration of one year or less; and (iii) contracts for which the Company recognizes revenue under the right to invoice practical expedient.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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