XML 52 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2020
Disaggregation of Revenue [Line Items]  
Changes in Company's Contract Liabilities
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 months ended March 31, 2020 and 2019:
Midstream Revenues(1)
 Three Months Ended March 31,
 20202019
 (In thousands)
Midstream service revenues
Crude oil and natural gas revenues$26,921  $24,664  
Produced and flowback water revenues11,251  9,033  
Total midstream service revenues$38,172  $33,697  
Midstream product revenues
Natural gas and NGL revenues$16,039  $12,797  
Freshwater revenues2,200  1,527  
Total midstream product revenues$18,239  $14,324  
Total midstream revenues$56,411  $48,021  
__________________
(1)Represents midstream revenues, excluding intercompany revenues for work performed by the midstream business segment for the Company’s ownership interests, which are eliminated in consolidation and are therefore not included in consolidated midstream revenues.
The following table reflects the changes in the Company’s contract liabilities for the three months ended March 31, 2020:
(In thousands)
Balance as of December 31, 2019
$2,105  
Cash received—  
Revenues recognized(117) 
Balance as of March 31, 2020
$1,988  
Remaining Performance Obligation Expected Satisfaction Period
The following table presents estimated revenue allocated to remaining performance obligations for contracted revenues that are unsatisfied (or partially satisfied) as of March 31, 2020:
(In thousands)
2020 (excluding the three months ended March 31, 2020)$12,403  
202118,580  
202218,302  
202312,628  
202411,874  
Thereafter2,768  
Total$76,555  
Exploration and Production Revenues  
Disaggregation of Revenue [Line Items]  
Disaggregation of Revenue
Revenues associated with contracts with customers for crude oil, natural gas and NGL sales and other services were as follows for the three months ended March 31, 2020 and 2019:
Exploration and Production Revenues
 Three Months Ended March 31,
 20202019
 (In thousands)
Crude oil revenues$212,793  $318,120  
Purchased crude oil sales85,757  147,136  
Natural gas and NGL revenues26,335  50,662  
Purchased natural gas sales521  1,335  
Other services revenues(1)
5,981  10,458  
Total exploration and production revenues$331,387  $527,711  
__________________
(1)Represents revenues for equipment rentals and well services provided by the Company’s wholly-owned subsidiary, Oasis Well Services LLC (“OWS”), excluding intercompany revenues for services performed for the Company’s ownership interests, which are eliminated in consolidation and are therefore not included in consolidated exploration and production revenues.