Mcf (Thousand Cubic Feet)
The standard volume unit for natural gas — one thousand cubic feet. Gas is metered and sold in Mcf, with MMcf and Bcf for larger volumes.
Mcf stands for one thousand cubic feet of natural gas — the "M" is the Roman numeral for a thousand, not "million." It is the everyday volume unit you will see on gas production reports and royalty statements. Larger volumes roll up to MMcf (a million cubic feet, or 1,000 Mcf) and Bcf (a billion cubic feet, or 1,000 MMcf).
Gas is sold either per Mcf or per MMBtu, an energy measure. The two are close but not identical, because the heating value of gas varies with its composition — richer gas with more liquids packs more energy per cubic foot. The price you actually receive can also be cut by post-production costs for gathering, compression, and processing.
If your minerals produce gas, your royalty check ties directly to the Mcf produced times the price received times your decimal interest. See how royalties work for the full math.