We had a situation where we needed to shrink all log files for all databases on a couple of drives preparatory to moving all the files to a new LUN which would then be mounted as the same drive letter. This was being done to correct improperly aligned partitions on the drives causing performance issues.
When disk partitions are not properly aligned there is a significant performance degradation (30-40%) on the disk, see Chad Miller's blog post on this for more detail. Additionally, correcting this will reduce throughput to the SAN array which can benefit overall performance of the array.
I don't normally recommend (and would typically strongly oppose) shrinking files, but in this case we had a limited time frame to make this move & shrinking these files meant 150GBs less data to move which was a make or break for the timeline we were allowed to complete the work in.
Since these were all log files I choose to shrink them all to 1MB for maximum benefit. For the sake of paranoia (I like to double/triple/quadruple check scripts prior to running in Production) I had it generate the statements to run & then ran them manually. To customize for your drives you would just change the T-SQL defined in the @sql variable. The script is here.