Too pull pipe at roughly 12500 ft and change a drill bit can take 1-1.5 days.They have to have someone up the drill mast upto 8 floors high in a harness and each length of pipe is roughly 400 ft.Do your maths at above mentioned level (alot of pipe) then change drill bit which are about $60,000 each, then same procedure man up the mast or crane 8 floors up hanging on in harness grabss each individual pipe and feeds in from start with new drill bit till gets back to drill depth again.Painstaking and long procedure which is IMHO why we are at this depth and also why the decision was probably taken now rather than taking chance of Drill Bit collapse or jamm nearing TD.
QPN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
