Ann: Trading Halt, page-205

No. Those calculations simply describe hydrostatic pressure in an oilfield context.
Most people think 6,800psi is an insanely high, and overwhelming, force. It is not.
It is easily counteracted by a column of fluid - and I wanted to explain that in simple terms.

Hydrostatic pressure can quite easily prevent a well from flowing.
Every reservoir is filled with 3 fluids in different proportions - water, oil, and gas.

It is not uncommon for reservoir fluid to fill the wellbore to the point where the well "kills" itself.
It's also typically quite simple to resolve. This fluid can be swabbed out by wireline, or lifted using nitrogen.

I'm not suggesting this IS the case - I'm explaining that it COULD be the case.