In a statement released Friday afternoon, a company spokesperson said, "Although this reduction in force affected only a tiny percentage of our total workforce of more than 4,000 people, we do regret that current market conditions have resulted in this impact on people and communities in northeast Louisiana and east Texas," FTSI Corporate Communications Director Pam Percival said. "The reality is that the continuing low price of natural gas has caused a slow-down in gas well drilling and completions work in the area of the Haynesville Shale. FTSI has been moving its completions equipment and personnel to work in areas where more wells are being drilled, such as the Eagle Ford Shale in south Texas and the Permian Basin area of west Texas. We will continue to operate in the Haynesville area as long as there is a demand for our services. FTSI is also looking at utilizing workers in other areas to help minimize the effects of this market downturn.
Employment at FTSI's Shreveport operations district now stands at 166, with 115 people employed at FTSI's Longview operations district.
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