Chord Energy (CHRD) - 2023 Q1 - Quarterly Report

Significant Accounting Policies Table of Contents The Company records revenue when the performance obligations under the terms of its customer contracts are satisfied. For sales of commodities, the Company records revenue in the month the production or purchased product is delivered to the purchaser. However, settlement statements and payments are typically not received for 20 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production tha ...