Paper: New Data for Calculating Lowest Annual V-Belt Drive Cost

Each year more and more wells go on the pump. The Oil and Gas Journal predicts that in 1957 over 29,000 wells will be placed on artificial lift. In addition, this publication comments on a trend of a 7% increase in the number of wells put on the pump each year. The decision of whether or not to place a particular well on the pump is based entirely on the economics involved. This evaluation includes estimates of the expected production, the cost of the equipment needed, and the expected annual maintenance costs. Many of the components on a pumping unit have been studied and annual costs have been estimated, based on loads, bearing size, gear-face width, and so on. One component which has previously defied attempts at prediction of annual costs has been the V-belt drive.