Posted: Mar 12, 2012 4:52 AM by AP
SHREVEPORT, La. (AP) - DeSoto Parish school officials don't know any figures yet, but expect to have to pare their 2012-13 budget from current spending because drilling in the Haynesville Shale is slowing down.
The Times reports that oil and gas companies began announcing cutbacks earlier this year.
Planners always said the explosion of leasing and drilling would slow. This year - four years into the drilling - is expected to mark a significant turn in activity.
Record low natural gas prices because of an abundant supply from shale plays and an unusually mild winter have oil and gas companies moving to oil and natural gas liquid plays.
Companies are slicing rig counts in northwest Louisiana but continue to service thousands of wells already drilled in the area.