<![CDATA[Larry Koonce - Blog]]>Wed, 30 Dec 2015 14:43:52 -0800Weebly<![CDATA[The 2016 MS 150                             ]]>Wed, 23 Dec 2015 21:15:40 GMThttp://larrykoonce.weebly.com/blog/the-2016-ms-150Picture
​Outside of his work as president and CEO of North American Drilling Corporation, Larry M. Koonce is an avid bicyclist. Larry Koonce has participated in a number of long-distance bicycling charity events, including the MS 150, a two-day bicycle ride held in Texas that is a fundraising event for the National Multiple Sclerosis Society. Roughly 13,000 cyclists participate, and they are supported by 3,500 volunteer workers. Additionally, the race attracts many spectators along its route.

The 2016 MS 150 will be held on April 16 and 17. The ride begins from three separate locations in the Houston, Texas, area--Tully, Rhodes, and Walter stadiums--and ends in the state capital of Austin. The riders will cover between 160 and 180 miles the first day and camp at the Fayette County Fairgrounds in La Grange, where there will be an evening of celebrations. On the second day of the ride, participants choose from two different routes, both ultimately leading to downtown Austin. All riders have lunch at Bastrop Intermediate School, and the ride finishes in the afternoon. 

<![CDATA[Utica Shale May Beat Marcellus in Output ]]>Mon, 23 Nov 2015 19:43:46 GMThttp://larrykoonce.weebly.com/blog/utica-shale-may-beat-marcellus-in-outputPicture
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.                              

<![CDATA[EIA’s Oil Output Forecast                             ]]>Fri, 13 Nov 2015 02:07:47 GMThttp://larrykoonce.weebly.com/blog/eias-oil-output-forecastPicture
President and CEO of North American Drilling Corporation Larry M. Koonce established the company in 2006. Larry Koonce, a veteran of the oil and gas industry, has overseen the drilling of more than 50 wells.

In November of 2015, the US Energy Information Administration (EIA) released its monthly Drilling Productivity Report, which projected that barrels per day (bpd) produced would drop by 118,000 in December. The number reflected oil output from seven major shale regions, including Eagle Ford, Niobrara, and Bakken. The projected numbers would result in 4.95 million bpd in December.

Although overall oil production was expected to decline, one reservoir was forecasted to climb. The Permian Basin performed well throughout 2015. The same month the report was released, the EIA anticipated that oil production there would increase by 17,000 bpd, resulting in an excess of 2 million bpd. In December, the EIA expected further progress, estimating an additional growth of 11,000 bpd and making it one of the more profitable regions to drill.                             

<![CDATA[Trend in 2015 Oil Prices                             ]]>Fri, 30 Oct 2015 23:05:48 GMThttp://larrykoonce.weebly.com/blog/trend-in-2015-oil-pricesFounded in 2006, North American Drilling Corporation, as led by Larry M. Koonce, operates in Texas as a producer of crude oil products. Larry Koonce and his team at North American Drilling Corporation have successfully drilled more than 50 wells, handling every aspect of the process from locating sites to selling the product.

Crude oil prices have experienced a downward trend in 2015. While some up-and-down fluctuation has been present, the overall price per barrel has inched downward with this trend expected to continue, bringing the average gas price to around $2.25 per gallon, based on data from AAA and Gas Buddy. This stands in stark contrast to gas prices just last year, when the average was closer to $3 per gallon.

Demand for gas continues to stay strong, with the drop in price attributed to oil surpluses, according to various reports, such as one from Reuters. While the drop in crude oil prices is good news for consumers at the gas pump, some investors are anxious about falling prices. However, every investment has up and down periods, and oil holdings are no exception. As the surplus of gas reduces, price will rise, as will investor returns. ]]>
<![CDATA[An Overview of North American Drilling Corporation ]]>Fri, 23 Oct 2015 16:06:34 GMThttp://larrykoonce.weebly.com/blog/an-overview-of-north-american-drilling-corporationPossessing a degree in business administration from Texas Tech University, Larry Koonce has almost two decades of experience in the oil and gas industry. Building on that experience, Larry M. Koonce serves as the president and CEO of North American Drilling Corporation (NADC), which he also founded.

Established in 2006, the Plano, Texas-based NADC maintains natural gas and oil operations in areas across the state and is exploring for well sites up to 10,000 feet in depth. Licensed as an independent producer of oil and gas by the State of Texas Railroad commission, NADC is also a member of the Texas Alliance of Energy Producers and the Wildcatters Club.

To best serve the industry and its investors, it is active in every step of the prospecting and production process. A full-service corporation, NADC uses two- and three-dimensional seismic technology to scout for prospective drilling locations, obtains the necessary funding and mineral leases for each project, and sells the product. For investors, the company also sends out monthly revenue checks and handles tax preparation for each venture, in addition to executing regular reporting activities.                             ]]>
<![CDATA[Benefits of Membership in the Texas Alliance of Energy Producers]]>Wed, 14 Oct 2015 20:40:58 GMThttp://larrykoonce.weebly.com/blog/benefits-of-membership-in-the-texas-alliance-of-energy-producersThe founder, president, and chief executive officer of North American Drilling Corporation, Larry M. Koonce has experience with a range of industry functions, ranging from drilling and field operations to accounting and appraisal. Larry Koonce also maintains membership in the Texas Alliance of Energy Producers (TAEP).

Founded as the North Texas Oil and Gas Association in 1930, TAEP remains committed to issues of crude oil, natural gas, and the environment, from offices in Austin, Houston, and Wichita Falls. With material for state and federal government lobbying and relations, TAEP also hosts a number of meetings throughout the year and an Alliance Expo and Annual Meeting, which draws crowds of members and representatives from the industry for seminars, presentations, and networking opportunities.

The country’s largest state oil and gas trade association, TAEP has over 3,300 members who come from every division of the industry. Also open to students, TAEP offers three membership levels: basic, corporate, and chairman. Even at its basic level, the organization helps each member engage in industry issues at both the state and federal levels. A proactive organization, it publishes a monthly newsletter and magazine, in addition to a comprehensive membership directory and buyers’ guide, among other resources.                             ]]>
<![CDATA[Texas Drilling Bill Lifts Fracking Ban in Denton                             ]]>Thu, 10 Sep 2015 21:46:42 GMThttp://larrykoonce.weebly.com/blog/texas-drilling-bill-lifts-fracking-ban-in-dentonFor the last nine years, Larry M. Koonce has served as president and chief executive officer of North American Drilling Corporation (NADC) in Plano, Texas. Prior to founding NADC, Larry Koonce built a successful career as an executive with a number of other oil and gas companies throughout Texas.

Recently, Texas state legislators passed House Bill 40 to prevent individual cities from banning hydraulic fracturing (fracking) operations within city limits. Gov. Greg Abbott signed the bill in May 2015, joining a number of other nationwide legislators who aim to give drilling and fracking decisions to state regulators.

The Texas bill was enacted after the City of Denton became the first municipality to ban local fracking in a November 2014 vote. The city lies on the 5,000-square-mile Barnett Shale Formation, making it a prime location for drilling operations. Previously, Denton fought to restrict fracking in the town, finally enacting the ban to cease drilling altogether.

Following the ban, gas development companies such as Vantage Energy were forced to abandon fracking efforts in Denton. In early June, they resumed these drilling operations after Governor Abbot signed House Bill 40 into effect.                             ]]>
<![CDATA[Advantages of 3D Seismic Mapping Technology                             ]]>Fri, 21 Aug 2015 01:03:09 GMThttp://larrykoonce.weebly.com/blog/advantages-of-3d-seismic-mapping-technologyA member of the North Texas Oil and Gas Association, Larry M. Koonce founded North American Drilling Corporation in 2006. As its president and chief executive officer, Larry Koonce oversees the company’s operations, which include every step of the oil and gas extraction process, from managing investments and finding sites through 2D and 3D seismic mapping technology.

Developed in the 1980s, 3D seismic mapping technology gives geologists more accurate views of the subterranean topography than older 2D technology. Using a denser data collection method, its geophone array is laid out in a grid and provides a detailed image with advantages like accurate location information and calculations as to whether the area contains hydrocarbon.

Although the process is expensive and it can be difficult to confirm whether the hydrocarbon is oil or gas without drilling, 3D seismic mapping can save companies time and money by helping to both find areas that have higher production potential and rule out low-potential drilling sites. Advances in the technology have led to 4D seismic mapping, which compiles 3D maps taken over a period of time to give a picture of the changes the ground undergoes as it shifts.                             ]]>
<![CDATA[Making Wishes Come True at the Annual Wish 100K Bicycle Rally ]]>Sat, 15 Aug 2015 08:28:14 GMThttp://larrykoonce.weebly.com/blog/making-wishes-come-true-at-the-annual-wish-100k-bicycle-rallyLarry M. Koonce, president of the North American Drilling Corporation in Plano, Texas, has been involved in the Texas oil and gas industry for nearly 20 years. An active cyclist in his free time, Larry Koonce has lent his support to various nonprofit events, including the annual Wish 100K Bicycle Rally hosted by the Make-a-Wish North Texas chapter.

Since its charter in 1982, the Make-a-Wish Foundation of North Texas has granted more than 8,500 wishes to children diagnosed with life-threatening medical conditions. No eligible child has been turned away in the history of the chapter’s 33-year history, and in order to continue fulfilling wishes throughout the region, the chapter relies on funds raised through signature events such as the annual Wish 100K Bicycle Rally.

Now in its seventh year, the Wish 100K Bicycle Rally will be held in McKinney, Texas, on Saturday, October 3, 2015. Featuring 10-, 17-, 45-, or 60-mile routes, the event is expected to attract up to 1,200 cyclists of all skill levels. After the ride, supporters are invited to enjoy festivities and food at the Tail Ache Celebration in downtown McKinney.

For more route and registration information, visit wish100tx.org/.
<![CDATA[The Benefits of Isopach Maps                              ]]>Tue, 30 Jun 2015 05:38:49 GMThttp://larrykoonce.weebly.com/blog/the-benefits-of-isopach-mapsAn executive in the oil and gas industry, Larry M. Koonce resides in Plano, Texas, where he leads North American Drilling Corporation. Larry Koonce established the company in 2006 and integrates the latest technology, ranging from three-dimensional seismic surveys to isopach mapping, to plan drilling sites.

Isopach maps record the thickness of geological formations. The following are benefits that oil exploration teams derive from using them:

1. Professionals can use the maps to analyze swelling and shrinking of formations over time.

2. While isopach mapping does not record formation depth, it does offer information about potential hydrocarbon reservoirs and coal seams, which is useful for planning drilling expeditions.

3. If taking readings on an almost horizontal upper surface, a person can interpret the diagram as a paleotopographic map.

4. Isopach maps work well for finding buried structures in areas where formations are thinning over structural crests.

5. Each line connecting points illustrates formations of equal thickness, which, when combined with data from seismic surveys, geological maps, and drilling surveys, create a detailed base map.