The Bit Run Decision Kit

The DrillingIt workbook for pricing every hour of a bit run, testing a premium bit before you buy it, and seeing when a run has stopped paying

The Drilling Cost Per Foot Calculator on this site uses the classic formula: bit price plus the rig time the run used, over the footage drilled. The answer is only as honest as the hours and the rate that go in, and it is the start of three decisions, not the end. The Bit Run Decision Kit does the rest. Part 1 counts every hour a run holds the rig (connections, surveys and circulating, not just rotating and tripping), prices it at the spread rate rather than the day rate alone, and compares bits per foot rather than by ROP. Part 2 solves the ROP a pricier bit must average to match your best offset, the footage it must drill at a realistic ROP, and the hour a run stops paying, then builds an offset bit record. In the worked run, counting three more hours moves the cost from $77.50 to $81.25 a foot, and a $45,000 bit over 2,500 ft pays at 28.3 ft/hr. Cost arithmetic, not engineering sign-off or well control. Includes a bit run record, break-even worksheets, a pull log and a break-even ROP table. With your purchase comes a personalised sheet worked on your own run.

What’s inside

The full contents of The Bit Run Decision Kit: price the run, decide, and the working pages

Step 1, The All-Hours Rule: pricing every hour a bit run holds the rig, with a worked cost per foot

Counting every hour of a run
Pricing rig time at the spread rate
Comparing bits per foot, not per hour
The ROP a new bit needs to pay
The footage it must drill
The last-hour check: when a run stops paying
Keeping an offset bit record
A bit run record, break-even worksheets and a pull log
A break-even ROP table and a quickstart
A personalised sheet: your run's cost per foot and the ROP a pricier bit needs

Plus a second PDF, worked out for you

Run one of the free calculators first and buy from that page, and this sheet is computed from your own figures. Buy from here and the pack still arrives complete — the sheet simply has no numbers of yours to work from yet.

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$19.00 including any taxes · PDF, 23 pages · instant download, link valid 7 days and 5 downloads.
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