Pls, for one thinking of venturing into the water borehole drilling business, what are the things to note?

Also, for how much can one get the rig both new one and second hand?

Other contributions are equally important, pls.

Thanks

cc: Lalasticlala, mynd44

borehole drilling requires a lot of capital to set up. nigerian built rig goes for about N10-15m and a good second hand compressor should be around 1.6m, other expenses are involved - drilling rods (50-70k each), drilling bits (70 - 150k, depending on size and quality) etc. with these, you can drill an average of 2 holes per day at the rate of nothing less than 280k each. i guess 450k profit per day (all other things being equal) is lucrative enough. from a driller.

Olurote:
borehole drilling requires a lot of capital to set up. nigerian built rig goes for about N10-15m and a good second hand compressor should be around 1.6m, other expenses are involved - drilling rods (50-70k each), drilling bits (70 - 150k, depending on size and quality) etc. with these, you can drill an average of 2 holes per day at the rate of nothing less than 280k each. i guess 450k profit per day (all other things being equal) is lucrative enough. from a driller.

Thank you very much.

Pls, how many drilling rods do you think one will need?

Aviero:
Thank you very much.

Pls, how many drilling rods do you think one will need?

it depends on the area (sedimentary or basement) you want to capture as your business area and the targeted depth. imported rods are around 3.3metres so, if geophysical report recommends a depth of, say, 60metres, that means you will need 20rods.

Olurote:
it depends on the area (sedimentary or basement) you want to capture as your business area and the targeted depth. imported rods are around 3.3metres so, if geophysical report recommends a depth of, say, 60metres, that means you will need 20rods.

This is insightful. Thank you.

Olurote:
borehole drilling requires a lot of capital to set up. nigerian built rig goes for about N10-15m and a good second hand compressor should be around 1.6m, other expenses are involved - drilling rods (50-70k each), drilling bits (70 - 150k, depending on size and quality) etc. with these, you can drill an average of 2 holes per day at the rate of nothing less than 280k each. i guess 450k profit per day (all other things being equal) is lucrative enough. from a driller.

Bros I am also interested in this borehole stuff.
I studied Geology, did my 6months industrial training in a borehole company so I have an overview knowledge of what it's all about.
I will like to own my borehole drilling company.

You made mention of rig costing around 10-15m.
Have you heard of TRIPOD drilling machine Sir?

That one that is smaller, has three supportive legs and uses smaller driling stem/pipe.
It should cost lower than rig.

The compressor is used for basement complex as you rightfully put so I am looking towards setting my business in sedimentary formations and hence the need of compressor is striked out.

How to start a borehole drilling business in Nigeria

https://businessplan.com.ng/borehole-drilling-business-plan-in-nigeria/