The following table shows the bit record for a well drilled nearby your current location: Bit Bit cost, Depth in, Depth out, Footage Rotating $ ft ft drilled, ft time, hr 2,800 9,125 9,800 675 24 1,800 9,800 10,380 580 20.5 1,800 10,380 10,930 550 22 4,800 10,930 11,810 880 72 ROP, ft/hr 28.1 28.3 25 12.2 B C D For the economic analysis, consider that the rig operating cost is $1,000/hr and tripping time is computed at 1,000-ft/hr average (depth out). A bit company engineer wants to persuade you to drill the same interval (from 9,125 ft to 11,810 ft) with one single PDC bit run. The cost of the PDC bit is $45,000. a) What is the target cost-per-foot the PDC must match? b) What is the target ROP the PDC bit must obtain? The following table shows the bit record for a well drilled nearby your current location: Bit Bit cost, Depth in, Depth out, Footage Rotating $ ft ft drilled, ft time, hr 2,800 9,125 9,800 675 24 1,800 9,800 10,380 580 20.5 1,800 10,380 10,930 550 22 4,800 10,930 11,810 880 72 ROP, ft/hr 28.1 28.3 25 12.2 B C D For the economic analysis, consider that the rig operating cost is $1,000/hr and tripping time is computed at 1,000-ft/hr average (depth out). A bit company engineer wants to persuade you to drill the same interval (from 9,125 ft to 11,810 ft) with one single PDC bit run. The cost of the PDC bit is $45,000. a) What is the target cost-per-foot the PDC must match? b) What is the target ROP the PDC bit must obtain