Taking into account various factors of the drilling operation can assist engineering teams in identifying the optimal approach. Performing a rig cost analysis allows companies to determine the best drilling rig for operation.
Service Cost
Comparing the service costs across multiple wells allows engineering teams to identify service providers that offer the highest level of performance. With the help of a service cost analysis tool, users can select multiple wells and gain valuable insights from the cost analysis.
Equipment
The failure of rental equipment is one of the reasons for budget losses in drilling operations. To mitigate such risks, an equipment cost analysis can help in identifying high-performance equipment with reasonable costs among the available options.
Drilling Fluid Additives
Comparing the costs of used additives can help engineers identify high-performance drilling fluid additives. This approach also enables them to adjust the order quantity and reduce operational costs.