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How much does it cost on average per foot to drill a oil well?
Wiki User
∙ 12y ago
use the formula
Cf = Cb + Cr (tb + tc + tt) / D
WHERE
Cf is cost per ft
Cr is cost of the rig per hr
tb is total rotating time during the bit run
tc is non-rotating time during the bit run
tt is trip time
D is the target well depth
Lorenza Kassulke
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