SACRAMENTO, Calif. -- Water may be cut to some of California's largest farms as a result of the deepening drought plaguing the state, federal water managers said Friday.

Parched reservoirs and patchy snow and rainfall this year would likely force officials to slash surface water deliveries down to zero, officials with the U.S. Bureau of Reclamations said. This would be the first time in more than 15 years such a move was taken.

Slashing water deliveries would be a brutal blow to farmers, who said the price of some of the crops they grow will likely rise if they have to rely only on well water. The state also anticipates a revenue loss of a billion dollars and 40,000 jobs lost.

Conditions could improve on March 1, when they announce new projections factoring in last week's storms, federal officials said.