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Last year, the state OK’d a pilot project that allowed Encana Corp. to drill the longest horizontal sections for wells the Haynesville Shale in northeast Louisiana has seen — 7,000 and 8,000 feet instead of the usual 4,600. Encana officials said the longer laterals cut production costs so much the company could make money with natural gas prices of around $3 per thousand cubic feet.
The problem — for Louisiana, Encana and every other energy company and landowner in the Haynesville — is that natural gas prices are now hovering around $2.50 per thousand cubic feet.
..When the Haynesville got cranked up in 2008, we were looking at $10 to $12 per mcf..
