A recomended bit program is being prepared for a new well, using bit performance
ID: 2284204 • Letter: A
Question
A recomended bit program is being prepared for a new well, using bit performance records from nearby wells. Drilling records for three bit are shown below for a thick shale section encountered at 12,000 ft. Determine which bit gives the lowest drilling cost if the hourly operating cost of the rig is $1,000/hr and the trip time is 10 hours. The connection time is included inthe rotating time shown below:
Bit Bit Cost ($) Interval Drilled (ft) Rotating Time (hours)
A 700 106 9
B 4,000 415 62
C 8,000 912 153
The answer is Bit B ($183.13/ft). I need someone to SOLVE AND SHOW WORK.
Explanation / Answer
For bit A