Step 1: Compute the total downhole pressure budget:
The formation can tolerate a bottomhole pressure up to the fracture pressure minus the safety margin. The fracture pressure at 7000 ft is $0.7 \times 7000 = 4900$ psi, and subtracting the 250 psi safety margin gives an allowable bottomhole pressure of $4900 - 250 = 4650$ psi. This is the ceiling that must never be exceeded downhole.
Step 2: Work out the net pressure gradient available in the tubing:
As fluid falls down the tubing, it gains pressure from its own weight at a rate of $0.433 \times 1.065 = 0.461145$ psi/ft, but it loses pressure to friction along the way. Treating the friction loss as a lump sum of 200 psi rather than a gradient, the net pressure gained by the column purely from gravity over the full 7000 ft is $0.461145 \times 7000 = 3228.015$ psi, and this gravity gain is partly offset by the 200 psi lost to friction, so the net downhole gain relative to the surface pressure is $3228.015 - 200 = 3028.015$ psi.
Step 3: Back calculate the surface pressure from the allowable bottomhole ceiling:
Since the bottomhole pressure equals the surface pressure plus the net downhole gain, $P_{BH,max} = P_{surf,max} + 3028.015$. Solving for the surface pressure gives $P_{surf,max} = 4650 - 3028.015 = 1621.985$ psi.
Step 4: Round the result:
Rounding 1621.985 psi to one decimal place gives 1622.0 psi. This matches the result obtained by separately subtracting the hydrostatic term and adding back the friction term, confirming the answer is consistent regardless of how the friction and hydrostatic terms are grouped.
Final Answer:
\[ \boxed{1622.0 \text{ psi}} \]