A member of the North Texas Oil & Gas Association, Larry M. Koonce founded the North American Drilling Corporation in 2006. As president and CEO, Larry Koonce leads natural gas drilling initiatives throughout the state of Texas.
Holding nearly a quarter of the nation’s natural gas reserves, Texas generates $159.3 billion in gross state product each year and is home to the largest onshore natural gas field. Comprised primarily of methane, natural gas does not create smog when it comes in contact with sunlight, making it an environmentally friendly choice of fuel. It is used for heating and electricity as well as a component of various products, ranging from plastics to fertilizers.
While production plants in Texas decreased between 2004 and 2009, the capacity per plant increased. Today, the state has 163 natural gas production plants that produce 19.7 billion cubic feet of natural gas daily. The number of production wells is also the most in the state’s history.