Take in Kind (TIK) | The right of a producer or royalty owner to take physical possession of their share of oil or gas and sell it for their own account. |
Take or Pay | A gas contract in which a purchaser must pay even if they don't fulfill the volumetric requirement of the contract. |
TCF | Trillion Cubic Feet |
Theoretical Gallons | The content of liquefiable hydrocarbons in a volume of natural gas determined from tests or analyses of the gas. |