Drill Bit Cost Per Foot: The Metric Purchasing Teams Should Track
The Bit Brief · Costs & ROI
A bit that costs less to buy can be more expensive to run if it wears quickly, drills slowly or causes extra changeovers. For quarry managers, well-drilling owners and equipment purchasers, cost per drilled foot is often a more useful purchasing measure than price per bit.
Define the cost boundary first
The simplest tooling calculation is (purchase cost + refurbishment cost + bit-specific freight) ÷ acceptable footage drilled. If you are comparing full operational impact, add the cost of tool changes, rig and crew downtime, and relevant rework. Do not include rig costs in one option but omit them from another: consistency matters more than having an elaborate spreadsheet.
Use footage in the same units and do not mix hard, abrasive ground with easy formations without noting the difference. One bit design may outperform another on one job and underperform on the next.
A simple example
A new bit costs $1,500 and completes 1,000 feet before retirement. Its basic tooling cost is $1.50/foot. A comparable bit costs the same initially, receives an illustrative $350 sharpening service, and ultimately completes 1,600 feet across its serviceable life. Its basic tooling cost becomes $1,850 ÷ 1,600 = about $1.16/foot before freight, downtime and other costs.
These numbers are hypothetical. They show the math, not an expected performance outcome. The additional footage is the key unknown to measure after the service.
Track penetration rate alongside cost
If a badly worn button profile slows the rate of penetration, the rig can spend more time achieving the same footage. Record footage per operating hour when possible. A maintenance program that protects penetration can have value even where its savings on new-bit purchases are modest.
Also document avoidable failures such as damaged gauge buttons, loose inserts, plugged flushing passages and structural cracks. A lower bit invoice is not a win if it creates reliability or safety problems.
Build a short monthly drilling-tool report
For each bit family, capture new purchases, service cycles, total footage, actual service invoices, freight, retirement reasons and the share of bits accepted for refurbishment. A foreman can record condition in the field; purchasing can record landed costs; operations can capture footage. When the numbers are reconciled, you can make a better renewal decision.
It helps to mark bits or otherwise track them individually so a second sharpening cycle is not confused with a separate tool. At a minimum, connect the service record to a bit ID, make, diameter and date.
What to do when a bit is underperforming
Start by confirming formation changes, drilling parameters and flushing performance. If those are stable, inspect the bit face and gauge wear and compare with the manufacturer's sharpening guidance. A bit is not automatically serviceable because its replacement cost is high.
If you need a cost baseline, begin with DG Carbide's carbide button sharpening service and request an assessment for compatible tooling.
Frequently asked questions
Is cost per foot the same as cost per hole?
No. Cost per foot is a useful comparable unit. Cost per hole can include setup and hole-specific factors and may be more useful when holes are consistently sized.
Does a lower refurbishment price prove savings?
No. You need to see how much usable drilling the serviced bit provides and whether the service causes additional downtime or tool changes.
Continue researching
- Drill Bit Refurbishment vs. Replacement: How to Make the Right Call
- How Much Can Carbide Bit Sharpening Save Per Year? A Contractor’s Formula
- A Simple Drill Bit Maintenance Log That Can Reduce Unnecessary Purchases
See DG Carbide's related service or send your bit details for an assessment.
Before you buy another bit, ask DG Carbide.
Sharpening, refurbishment and eligible carbide button replacement from Saugerties, New York. Serving local contractors and accepting nationwide mail-in inquiries for compatible bits.
Technical decisions depend on the bit maker's limits, equipment conditions and inspection. Savings examples are illustrative and are not DG Carbide pricing or customer results.