Was 4,000 PSI the pumping pressure of the frac fluid? If so it means that the fluid has not dissapated into the formation, but only as far as the microseismic survey indicated. If that is an OK distance for the 2nd hole to be drilled, then so far so good. They are not drilling into permeable sandstone as in conventional oil/gas wells. Increasing the fraccing fluid pressure in the secondary frac job will have the effect of extending the reach and opening up the 'cracks' more. If the wellhead pressure remains at 4,000 psi then that is good, as there will be no lost circulation in the formation. They will have a closed circuit heat exchanger. I can't really understand why they got involved in this non core activity, unless it will bring them some sort of green credit if oilcos get carbon taxed in the future.
BPT Price at posting:
86.4¢ Sentiment: LT Buy Disclosure: Held
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