RE: RE: RE: NOG's stock worthThe well needs further testing, big deal. Whats the problem, why the scary selloff. The well is alive & not a dud. It is going to the next phase (a good thing) for investors. Big thing there is oil, really don't know any lottery winners who won on the first attempt. Here's a bit on fracing for the investors looking ahead who might have some questions.
"Hydraulic fracturing is a method used to create fractures that extend from a borehole into rock formations, which are typically maintained by a proppant. The method is informally called fracing or hydrofrac. The technique is used to increase or restore the rate which fluids, such as oil, gas or water, can be produced from the formation. By creating or restoring fractures, the surface area of the formation exposed to the borehole is increased and the fracture provides a conductive path connecting the reservoir to the well, which effectively increases the rate that fluids can be produced from the reservoir formations."
"When applied to stimulation of water injection wells, or oil/gas wells, the objective of hydraulic fracturing is to increase the amount of exposure a well has to the surrounding formation and to provide a conductive channel through which the fluid can flow easily to the well. A hydraulic fracture is formed by pumping a fracturing fluid into the well bore at a rate sufficient to increase the pressure downhole to a value in excess of the fracture gradient of the formation rock. The pressure then causes the formation to crack which allows the fracturing fluid to enter and extend the crack further into the formation. In order to keep this fracture open after the injection stops, a solid proppant is added to the fracture fluid. The proppant, which is commonly a sieved round sand, is carried into the fracture. This sand is chosen to be higher in permeability than the surrounding formation and the propped hydraulic fracture then becomes a high permeability conduit through which the formation fluids can be produced back to the well. The fracture fluid can be any number of fluids, ranging from water to gels, foams, nitrogen, carbon dioxide or even air in some cases. Various types of proppant are used, including sand, resin-coated sand, and man-made ceramics depending on the type of permeability or grain strength needed. Radioactive sand is sometimes used so that the fracture trace along the wellbore can be measured."
"Hydraulic fracturing equipment used in the oil field usually consists of a Slurry Blender, series of Fracturing Pumps (Typically powerful triplex, or quadplex pumps) and a monitoring unit. Associated equipment includes fracturing tanks, high pressure treating iron, low pressure pipes and gauges for flow rate, fluid density, and treating pressure. Fracturing equipment operates over a range of pressures and injection rates, and can reach up to 15,000 psi and 100 Barrels per Minute."