Drill bit price
Overall Industry Reference
For context, global Oil Well Drill Bits production reached approximately 420,000 units in 2024, with an **average global market price of around US750perunit∗∗whenconsideringallbittypesandsizescombined[reference:9].However,actual∗∗drillbitprice∗∗variesenormously—from750perunit∗∗whenconsideringallbittypesandsizescombined[reference:9].However,actual∗∗drillbitprice∗∗variesenormously—from500 for a small steel tooth bit to over $100,000 for a large premium PDC bit.
1. Steel Tooth (Milled Tooth) Tricone Bits — IADC 100–300 Series
These are the most economical drill bits, suitable for very soft to medium formations. The low drill bit cost makes them attractive for shallow wells, top‑hole sections, and workover applications.
| Bit Diameter | IADC Code Range | Bearing Type | Price Range (USD) |
|---|---|---|---|
| 6″ – 8 1/2″ | 111–117 | Open roller/ball | 500–500–1,500 |
| 8 1/2″ – 12 1/4″ | 115–137 | Open roller/ball | 800–800–2,500 |
| 12 1/4″ – 17 1/2″ | 115–137 | Open roller/ball | 1,200–1,200–4,000 |
| 17 1/2″ – 26″ | 115–137 | Open roller/ball | 2,500–2,500–6,000 |
Steel tooth bits are generally priced at US500–1,500∗∗forcommonsizes[reference:10].Astandard8 1/2″steeltoothbitwithopenbearingstypicallyfallsinthe∗∗500–1,500∗∗forcommonsizes[reference:10].Astandard8 1/2″steeltoothbitwithopenbearingstypicallyfallsinthe∗∗800–1,500 range.
2. TCI (Tungsten Carbide Insert) Tricone Bits — IADC 400–700 Series
TCI bits offer longer life in harder formations. Drill bit price increases with IADC series and bearing quality.
| Bit Diameter | IADC Code Range | Bearing Type | Price Range (USD) |
|---|---|---|---|
| 6″ – 8 1/2″ | 417–437 | Sealed journal | 1,500–1,500–4,000 |
| 8 1/2″ – 12 1/4″ | 517–537 | Sealed journal | 2,500–2,500–6,000 |
| 12 1/4″ – 17 1/2″ | 537–637 | Sealed journal + gage | 4,000–4,000–10,000 |
| 17 1/2″ – 26″ | 637–737 | Sealed journal + gage | 6,000–6,000–15,000 |
TCI bits range from approximately 1,200to1,200to15,000 depending on size and configuration. An 8 1/2″ TCI bit (IADC 517–537) is typically 2,500–6,000∗∗[reference:13].A12 1/4″TCIbit(IADC517–537)runs∗∗2,500–6,000∗∗[reference:13].A12 1/4″TCIbit(IADC517–537)runs∗∗4,000–10,000. Bear in mind that these prices have increased due to tungsten market pressures.
3. PDC (Polycrystalline Diamond Compact) Bits
PDC bits are typically more expensive upfront but deliver faster ROP and longer life — often resulting in lower cost‑per‑foot.
| Bit Diameter | Body Type | Cutter Size | Price Range (USD) |
|---|---|---|---|
| 6″ – 8 1/2″ | Steel body | 13/16 mm | 5,000–5,000–15,000 |
| 8 1/2″ – 12 1/4″ | Steel body | 16 mm | 8,000–8,000–25,000 |
| 8 1/2″ – 12 1/4″ | Matrix body | 16 mm | 15,000–15,000–40,000 |
| 12 1/4″ – 17 1/2″ | Matrix body | 19 mm | 25,000–25,000–65,000 |
| 17 1/2″ – 26″ | Matrix body | 19/25 mm | 40,000–40,000–100,000+ |
PDC bits are generally priced from 5,000to5,000to120,000 depending on size and design. Premium PDC bits for ultra‑deep wells can cost $20,000–100,000 or more.
4. Diamond Drill Bits (Ultra‑Deep / Hard Formation)
These bits use natural or synthetic diamond impregnated segments and are priced at the highest tier.
| Bit Diameter | Type | Application | Price Range (USD) |
|---|---|---|---|
| 8 1/2″ – 12 1/4″ | Impregnated diamond | Ultra‑hard rock | 15,000–15,000–35,000 |
| 12 1/4″ – 17 1/2″ | Impregnated diamond | Ultra‑hard rock | 30,000–30,000–60,000 |
5. Hybrid Bits (Advanced Technology)
Hybrid drill bits combine the advantages of fixed cutter and roller cone designs. Kingdream has actively promoted large‑size hybrid bits, shaped‑cutter PDC bits, and RSS PDC bits, which have been widely applied in Kuwait.
| Bit Diameter | Type | Price Range (USD) |
|---|---|---|
| 6″ – 8 1/2″ | Hybrid (PDC + TCI) | 8,000–8,000–20,000 |
| 8 1/2″ – 12 1/4″ | Hybrid (PDC + TCI) | 15,000–15,000–35,000 |
Price Comparison — Kingdream vs. Western Premium Brands
| Bit Type | Western Premium (Baker/Halliburton/Schlumberger) | Sinopec/Kingdream | Typical Savings |
|---|---|---|---|
| 8 1/2″ steel tooth (IADC 117) | 1,800–1,800–3,000 | 800–800–1,500 | 40–50% |
| 8 1/2″ TCI (IADC 517) | 5,000–5,000–9,000 | 2,500–2,500–6,000 | 35–45% |
| 8 1/2″ PDC steel body | 12,000–12,000–20,000 | 5,000–5,000–12,000 | 30–40% |
| 12 1/4″ TCI (IADC 537) | 8,000–8,000–15,000 | 4,000–4,000–10,000 | 40–50% |
| 12 1/4″ PDC matrix body | 35,000–35,000–60,000 | 20,000–20,000–45,000 | 30–40% |
Sinopec/Kingdream drill bits are typically priced 30–50% lower than comparable Western premium brands for equivalent API 7‑2 certified specifications. This is due to Sinopec’s vertically integrated manufacturing, state‑owned enterprise resources, and high‑volume production across 16 dedicated production lines. Lower price does not mean lower quality — our diamond drill bits are proven in 10,000‑m ultra‑deep wells, and our TCI bits have been exported to North America for over a decade.
Cost‑Per‑Foot — The Metric That Really Matters
Let’s show you why price per foot is the only number you should care about.
Suppose you’re drilling a 5,000‑m section. Here is a hypothetical comparison:
| Bit | Upfront Price | Footage per Bit | Required Bits | Total Bit Cost |
|---|---|---|---|---|
| Cheap steel tooth | $800 | 200 m | 25 | $20,000 |
| Mid‑range TCI | $3,000 | 800 m | 7 | $21,000 |
| Premium PDC | $12,000 | 2,500 m | 2 | $24,000 |
Upfront, the steel tooth bit looks cheapest — 800vs.800vs.12,000. But look at the cost per meter:
| Bit | Upfront Price | Footage per Bit | Cost per Meter | Trip Savings |
|---|---|---|---|---|
| Cheap steel tooth | $800 | 200 m | $4.00/m | 25 trips = massive rig time cost |
| Mid‑range TCI | $3,000 | 800 m | $3.75/m | 7 trips |
| Premium PDC | $12,000 | 2,500 m | $4.80/m | 2 trips |
But now add rig operating cost. At $100,000/day, each trip adds days of non‑productive time. The premium PDC saves 23 trips — days of rig time. The actual comparison becomes:
| Bit | Bit Cost | Rig Time Cost (Trip Related) | Total Drilling Cost |
|---|---|---|---|
| Cheap steel tooth | $20,000 | Very high (25 trips) | Highest |
| Mid‑range TCI | $21,000 | Moderate (7 trips) | $21,000 + rig time |
| Premium PDC | $24,000 | Very low (2 trips) | Lowest |
This explains why large‑scale operators focus on total cost of drilling per meter, not the initial drill bit price. Sinopec/Kingdream premium bits are engineered to deliver the best possible cost‑per‑foot.
[Product images: A comparison table showing cost per meter savings with premium Kingdream bits.]
Drill Bit Specifications Reference
To help you select the right bit, here are the key specifications. For complete technical details, refer to our main "Drill Bit Specifications” page.
IADC Code — Tricone Bit Quick Reference
The IADC code is the global standard for classifying roller cone bits. The first digit indicates cutting structure (formation series), and the second digit indicates formation hardness within that series. For steel tooth bits (first digit 1–3), the second digit classifies the formation being drilled, with 1 for soft, 2 for medium, and 3 for hard formations.
| First Digit | Cutting Structure | Formation |
|---|---|---|
| 1 | Steel tooth | Very soft, low compressive strength |
| 2 | Steel tooth | Soft to medium |
| 3 | Steel tooth | Medium to hard |
| 4 | TCI | Very soft — low strength, non‑abrasive |
| 5 | TCI | Soft to medium — moderate strength |
| 6 | TCI | Medium to hard — moderate strength, abrasive |
| 7 | TCI | Hard to very hard — high strength, abrasive |
The third digit of the IADC code specifies the bearing and seal design. The sealed journal bearing (code 6 or 7) is recommended for deep, high-load wells due to its greater load capacity and durability in high‑temperature conditions.
Connection Threads — API Reg
All Sinopec/Kingdream drill bits use API Regular (API REG) connections, the industry standard specified in API Spec 7‑2. Thread sizes vary by bit diameter. Complete dimension charts are available upon request.
Why Choose Sinopec / Kingdream for Drill Bits?
1. National Manufacturing Champion — Award‑Winning Bit Technology
SOFE has been awarded three National Manufacturing Champions, including for drill bits. Our diamond drill bits are instrumental in completing China’s first 10,000‑m ultra‑deep well.
2. Proven in the World’s Most Challenging Formations
Kingdream drill bits have conquered complex strata and contributed to oil and gas development in Algeria and Kuwait.
3. 40+ Years of Drill Bit Manufacturing Heritage
Kingdream has been dedicated to drill bits and tools for over 40 years in the oil and gas industry. This cumulative expertise spans multiple geological basins, giving us unique cross‑formation rock‑breaking insights.
4. Complete API 7‑2 Certification Across All Sizes
All drill bits are designed, manufactured and tested to API Spec 7‑2, covering roller cone bits and fixed cutter bits. Third‑party inspection available.
5. Vertically Integrated Manufacturing and R&D
Kingdream’s research in cutter material technology, bearing structures and hydraulic design is at the leading position domestically. Our comprehensive in‑house capabilities include 16 proprietary production lines spanning drill bits, rigs and cementing units.
6. Global Reach — 40+ Countries, Major Continents
SOFE has exported products to more than 40 countries and regions including North America, the Middle East, Russia, and South America.
7. Comprehensive Certification and Quality Management
Our bits are available with API, ISO 9001, GOST and CE certification. A reliable quality management system ensures consistent performance.
8. 30–50% Lower Price — Same API Certification
Sinopec/Kingdream bits are priced 30–50% below comparable Western premium brands for equivalent API 7‑2 certified specifications. Focus on price per foot, not sticker price.
9. National "Little Giant” Recognition
Kingdream Public Limited Company was recognized as a National "Little Giant” enterprise for specialization and innovation — the highest level of SME recognition in China.
10. Leading‑Edge Shaped‑Cutter Technology
Kingdream offers shaped‑cutter PDC bits and RSS PDC bits, which have been widely applied in challenging drilling environments. Shaped‑cutter technology significantly enhances durability against both abrasion and impact.
[Product images: Kingdream manufacturing complex in Jingzhou, Hubei — where API 7‑2 certified drill bits are made.]
Frequently Asked Questions (FAQ)
Q1: How much does a drill bit cost?
Drill bit price varies by type, size and IADC code:
-
Steel tooth tricone: 500–500–6,000
-
TCI tricone: 1,500–1,500–15,000
-
PDC bit: 5,000–5,000–100,000+
Global average price across all bit types is approximately $750 per unit.
Q2: Why is PDC drill bit price higher than tricone bits?
PDC bits use synthetic diamond compact cutters, which are significantly more expensive than tungsten carbide inserts or steel teeth. However, PDC bits typically deliver higher ROP and longer footage, making them more cost‑effective over the whole well section — price per foot is the better metric.
Q3: Why does IADC code affect price?
Higher IADC series bits (e.g., IADC 637 vs. 117) are designed for harder, more abrasive formations, using more expensive materials (premium tungsten carbide, sealed journal bearings) and more complex manufacturing processes. That said, using a higher series bit in a harder formation may still deliver lower cost per foot due to reduced trip frequency.
Q4: Are Sinopec/Kingdream drill bits cheaper than Halliburton, Baker or Schlumberger?
Yes. Sinopec/Kingdream bits are typically 30–50% lower than comparable Western premium brands for equivalent API 7‑2 certified specifications. This reflects our vertically integrated manufacturing and state‑owned enterprise resources — not lower quality.
Q5: What size drill bits do you offer?
Kingdream offers sizes from 3 1/2″ to 36″. Our tricone bits are available in diameters from 3 7/8″ to 26″ with API Regular connections.
Q6: Are your drill bits API certified?
Yes. All Sinopec/Kingdream drill bits comply with API Spec 7‑2. We can provide full certification documentation and third‑party inspection through any accredited agency.
Q7: What is the typical lead time for a standard bit?
For standard sizes (8 1/2″, 12 1/4″) and common IADC codes, typical lead time is 4–6 weeks from order confirmation to shipment. Custom bits require 8–12 weeks.
Q8: Do you offer diamond drill bits for ultra‑deep wells?
Yes. Sinopec's diamond drill bit is playing a major role in excavating an ultra‑deep oil well in the Tarim Basin. This same technology is available for your ultra‑deep and geothermal drilling projects.
Q9: What is the price difference between steel tooth and TCI tricone bits?
For the same size (e.g., 8 1/2″), a steel tooth bit costs approximately 800–1,500∗∗,whileaTCIbitcosts∗∗800–1,500∗∗,whileaTCIbitcosts∗∗2,500–6,000. The TCI bit typically lasts significantly longer in medium‑hard to hard formations, often delivering lower cost‑per‑foot.
Q10: How does rising tungsten and diamond cost affect drill bit price?
Global tungsten and PDC cutter material prices have been increasing. PDC drill bits, typically priced at 20,000–100,000,nowcostanadditional20,000–100,000,nowcostanadditional3,000–25,000 due to raw material inflation. Sinopec's scale and long‑term supplier relationships help mitigate these increases.
