Apossible result of pumping large amounts of water from an underground aquifer is that

Lowering of water table

Explanation:

When excessive water is drawn from Aquifer well through pumping, the water under the ground reduces and its level usually referred to as water table goes down. Even in some cases the water table goes even below the level of aquifer and when such scenario happens the well is said to be dry and no water can be extracted from it.  

Thus, excessive water extraction from well with low rate of water recharge can cause early drying up of wells.