Landowners here in northwest Louisiana have done well from development of the Haynesville shale formation. Haynesville is primarily a natural gas formation, however, and with the boom in supply and slow development of the liquified natural gas export market, drilling has slowed to a crawl.
The middle of the state may soon be getting into the drilling boom soon, with development of the Tuscaloosa Marine shale formation. This article was mostly about exploratory drilling in western Mississippi, but the formation extends all the way across the middle of Louisiana. Estimated to hold 7 billion barrels of light sweet crude, the formation could be as productive as Bakken or Eagle Ford.
This is a sight not often seen in North Louisiana recently.
The Haynesville shale has had a huge economic impact on the area, and produces 6.5 billion cubic feet of natural gas per day. The price of natural gas has dropped with the recent increase in supply (basic economics), so the drillers are off in North Dakota and other places drilling for crude.
The answer, for natural gas producers, is to increase demand by opening new markets. As Erica Johnsen notes, there is a huge international market for natural gas, but the Obama administration has been very slow to approve exports. Natural gas exports would be a huge economic boost for our area, other gas producing areas in the United States, and for those non-energy producing countries who need our gas.