A Trillion cubic feet (1 Tcf = 1,000,000,000,000 cubic feet) is a volume measurement used by the oil and gas industry.
If the value at the wellhead is about $3.00 per million BTU, which for 1,000 BTU gas is the same as $3.00 per thousand cubic feet. 1 Tcf would therefore be worth $3 billion at the wellhead (i.e., to the producer). This is not factoring in the time to produce said gas, ongoing maintenance and supply costs, taxes, royalties, gas % that can be actually be extracted from the resource, etc.
- A very rough guide.
I think we would do a little better than $3 at the wellhead, but given the tiny area they have used to establish a resource of any kind at the moment, it is a good reflection on where we are now, compared to where this can go when things get proven up.
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