pressureThe discussion about the coiled tubing and the failed attempt to clean up the fracking fluid was a bit worrisome. I'm a retail investor with little first hand knowledge of well technology, so throughout the discussion I couldn't help but wonder if in some way they had comprimised the well bore. Watching the share price drop like someone had cut a hole in the bottom of a water bucket didn't help either. Trying to make sense of what happened, I kept returning to the January news release... this specific part...
"However, before the Yayli-1 well can be fracked, the wellhead will need to be retrofitted to increase its pressure rating from 5,000 psi to 10,000 psi, which is expected to be completed by late January."
As I said I'm not of the patch. But, the fact that they had had to retrofit the wellhead told me that this well had more than the normal pressure to deal with. To me that said Yayli-1 looked to be something special, and I could understand that the management team couldn't wait to get on with testing it. I did not understand the explanation about wanting to get some calibration data from the 13m test they tried to carry out. But, shook that off as just my ignorance about fracking and testing wells.
Now, I come to my question. Is this well potentially something special? Am I reading too much into the fact that they had to upgrade to a 10,000 psi wellhead fitting? What do normal ng wells in the Thrace Basin require as a wellhead fitting? If anyone with ng well background could spend a moment to discuss what are normal well pressures and what are exceptional ones it would be much appreciated. Thanks in Advance..
don