Drilling Cost Per Foot Calculator
Compare up to 3 bit runs side by side. Optimize bit selection based on cost per foot and rate of penetration.
Cost Per Foot Comparison
How this was calculated
Cost Per Foot: CPF = (Cb + Cr × (Tt + Td + Tc) + Co) / F
Where: Cb = bit cost, Cr = rig rate ($/hr), Tt = trip time (hrs), Td = drilling time (hrs), Tc = connection time (hrs), Co = other costs, F = footage drilled (ft).
ROP: Rate of Penetration = Footage / Drilling Time (ft/hr).
Assumptions: All time components in hours. Rig rate applied uniformly to all time categories.
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Book a free strategy call →Understanding Drilling Cost Per Foot
Cost per foot (CPF) is the primary metric used to evaluate bit performance and drilling efficiency. It captures the total cost of drilling a section of hole by combining bit cost, rig time (trip time, drilling time, connection time), and any additional costs, then dividing by the footage drilled. A lower CPF indicates a more economical bit run, even if the bit itself costs more.
Rate of penetration (ROP) alone is not sufficient for bit selection. A fast-drilling bit that wears out quickly may require more trips, driving up total cost. The CPF formula penalizes excessive trip time, encouraging selection of durable bits that maximize footage per run. By comparing CPF across multiple bit runs in the same formation, drilling engineers can identify the optimal bit type, weight on bit, and RPM for a given interval.
All calculations run entirely in your browser. Built by Groundwork Analytics, an AI and engineering company serving the energy industry. Get in touch or email info@petropt.com.