After drilling for 24 hours, a footage of 384 ft has been achieved. The bit used...
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After drilling for 24 hours, a footage of 384 ft has been achieved. The bit used has a cost of USD 4,000. The bit will be replaced with a new one. Two different bit candidates are available, which are expected to give an 18-ft/hr and 21-ft/hr ROP. Bit costs are USD 6,000 and USD 10,000, respectively. The average rig-operation cost is USD 1,200/hr. Determine the more economical bit. After drilling for 24 hours, a footage of 384 ft has been achieved. The bit used has a cost of USD 4,000. The bit will be replaced with a new one. Two different bit candidates are available, which are expected to give an 18-ft/hr and 21-ft/hr ROP. Bit costs are USD 6,000 and USD 10,000, respectively. The average rig-operation cost is USD 1,200/hr. Determine the more economical bit.
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Detearmination of moie economical bit Costft Cb Ca to t tette lAD ... View the full answer
Related Book For
John E Freunds Mathematical Statistics with Applications
ISBN: 978-0134995373
8th edition
Authors: Irwin Miller, Marylees Miller
Posted Date:
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