Drilling contracts dollar amounts are usually quoted on a daily rate or a footage rate. Under a daily rate contract the agreed upon dollar amount is paid regardless of the footage drilled. Under a footage rate contract an agreed upon dollar amount is paid based upon each foot drilled, with payment usually contingent upon a specific drilling depth being reached. A drilling contract can also be on a turnkey basis, under which condition the drilling contractor takes upon himself the full responsibility and is totally in charge of drilling and completion operations