Trillion Cubic Feet (Tcf)
Candlefocus EditorThe majority of natural gas resources in the U.S. are measured in Tcf and it’s used to denote the estimated amount of energy stored in a natural gas reservoir. This measurement is derived from the expected production rate of the resource, and its associated energy content, which is typically in relation to the field size and net thickness.
In the natural gas production industry, major discoveries are often stated in trillion cubic feet (Tcf) to capture the enormity of the discovery and its potential to produce natural gas and electricity. For example, in early 2020, Royal Dutch Shell announced the discovery of a “giant” offshore natural gas field off the coast of Mozambique estimated to contain 25-50 Tcf of natural gas. Similarly, ConocoPhillips announced in late 2019 that it had discovered a natural gas reservoir off of Suriname that contained an estimated 6 to 8 Tcf.
Trillion cubic feet is also used to measure resources contained within natural gas storage facilities. For example, the United States Energy Information Administration reported in 2019 that 16.6 Tcf of natural gas were contained in storage reservoirs across the United States.
While a trillion cubic feet is the most common unit of measure for natural gas resources, measurements are also done using barrels of oil equivalent (Boe). A barrel of oil equivalent is used to compare the energy contained in one barrel of crude oil to the energy in various other resources, including natural gas.
Overall, trillion cubic feet (Tcf) is an important unit of measure used in the U.S. oil and gas industry to denote the estimated amount of energy stored in a natural gas reservoir or the resources contained within natural gas storage facilities. It is also often used to measure the enormity of a major natural gas find, like that of the recently announced Royal Dutch Shell natural gas field off the coast of Mozambique.