Determine the optimum bit life for the bit run described below using cost per foot analysis....

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Determine the optimum bit life for the bit run described below using cost per foot analysis. (13 Marks) Bit cost: 600 $ Rig operating cost: 1000 $ Trip time: 6 hours Drilling time (hours) Footage (ft.) 0 0 2 30 4 54 6 73 8 88 10 104 12 117 14 127 16 135 18 142 20 147 22 151 Determine the optimum bit life for the bit run described below using cost per foot analysis. (13 Marks) Bit cost: 600 $ Rig operating cost: 1000 $ Trip time: 6 hours Drilling time (hours) Footage (ft.) 0 0 2 30 4 54 6 73 8 88 10 104 12 117 14 127 16 135 18 142 20 147 22 151

Answer rating: 100% (QA)

Given Bit cost 600 Rig operating cost per hour 1000hr Drilling time hours Footage ft 0 0 2 ... View the full answer