Predict performance of drill bit employing multivariate least-squares model

摘要

A method for forecasting performance of a drill bit, 512 includes obtaining a performance model 508 for the drill bit, using a plurality of bit run records of the drill bit 500, wherein the obtaining is performed with a multivariate regression 502, and inputting a set of drilling parameters 510 to the performance model to obtain the performance of the drill bit. The variable coefficients determined by regression are assessed to determine whether the variable has a marked effect on drill bit performance. If not the variable is removed from the model. The method can be used to select an appropriate drill bit for a given set of input conditions.