Never put water back into the pvc. You will never know if the pvc has sprung a leak. I always landed my jack to keep it down, plumbed it up, then back filled to the leaky section using bentonite and sand in layers.
I also do not buy the no oxygen no rust theory as water is made of 1 part oxygen, what causes it to break down, heat. Will the oil heating up ever cause it to breakdown? Also how do you plan on jetting out the existing oxygen in the hole? So the waterline has two things needed for rust, oxygen and water, and potential catalyst of heat, to make it worse.
Just my 2 cents from a very over analytical perfectionist.
