QUESTION 3 (18 Marks) CLO CLO1 Marks 18 From a drilling record as in Table 2, determine the time to pull the bit and calculate the optimum weight on bit so that the drilling operation will be optimized. Table 2: Drilling record Drilling parameters Hole depth, ft Bit cost, $ Rig cost, S/hr Average round trip, minutes/1,000 ft Rate of penetration, ft/hr (rotating time t) Weight on bit, Ibs Rotation spees, RPM Bit wear factor Magnitude 12,000 15,000.00 1,200.00 40 40 - 40,000 120 2 (18 marks)