Drilling Cost per Foot Formula |
||
|
\( D_c \;=\; \dfrac{ B_c + R_c \cdot ( R_t + R ) }{ F } \) (Drilling Cost per Foot) \( B_c \;=\; \dfrac{ D_c - R_c \cdot ( R_t + R ) }{ F }\) \( R_c \;=\; \dfrac{ ( D_c - B_c ) \; F }{ R_t + R }\) \( R_t \;=\; \dfrac{ ( D_c - B_c ) \cdot F }{ R_c } - R \) \( R \;=\; \dfrac{ ( D_c - B_c ) \cdot F }{ R_c } - R_t \) \( F \;=\; \dfrac{ R_c \cdot ( R_t + R ) }{ D_c - B_c } \) |
||
| Symbol | English | Metric |
| \( D_c \) = Drilling Cost per Foot | \(cost\) | - |
| \( B_c \) = Bit Cost | \(cost\) | - |
| \( R_c \) = Rig Cost | \(cost\;/\;hr\) | - |
| \( R_t \) = Rotating Time | \(hrs\) | - |
| \( R \) = Round Trip Time (for Depth) | \(hrs\) | - |
| \( F \) = Footage per Bit | \(ft\) | - |
The drilling cost per foot is used to evaluate the total cost of drilling a well per unit of depth. It accounts for various expenses involved in the drilling process and is widely used in the oil and gas industry to assess project efficiency, bit performance, and overall economics. The exact cost can vary significantly depending on factors like location, well type, depth, geological conditions, rig rates, and equipment used.
