A Texas entrepreneur, Larry M. Koonce comes from a long line of oil, gas, and geology experts. Continuing his family’s work in the industry, Larry Koonce founded North American Drilling Corporation and has since drilled more than 50 wells.
At the end of 2015, a US Energy Information Administration (EIA) Drilling Productivity Report projected Utica, in the Appalachian region, to become a large player in the oil and gas industry. Expected to grow in November and December, Utica’s shale caught the attention of numerous companies drilling in nearby Marcellus. The success of Utica’s existing numbers could represent growing output in the future. If so, according to the news outlet TribLive, the shale region has the potential to overtake Marcellus, the prime location to drill, in recoverable gas.
Companies that have already drilled wells in Utica have reported positive results, which have encouraged other oil and gas exploration enterprises to make plans for excavation in Southern Pennsylvania and West Virginia in 2016. Others are waiting to see further progress from Utica before drilling wells.
At the end of 2015, a US Energy Information Administration (EIA) Drilling Productivity Report projected Utica, in the Appalachian region, to become a large player in the oil and gas industry. Expected to grow in November and December, Utica’s shale caught the attention of numerous companies drilling in nearby Marcellus. The success of Utica’s existing numbers could represent growing output in the future. If so, according to the news outlet TribLive, the shale region has the potential to overtake Marcellus, the prime location to drill, in recoverable gas.
Companies that have already drilled wells in Utica have reported positive results, which have encouraged other oil and gas exploration enterprises to make plans for excavation in Southern Pennsylvania and West Virginia in 2016. Others are waiting to see further progress from Utica before drilling wells.