Time is money in the oil business, even when it’s less than a minute, and every dollar counts, one can surmise from listening to the head of Diamondback Energy Inc.

After finishing an operational review several weeks ago, CEO Travis Stice said the company’s drilling team showed him how it shaved off about seven-tenths of a minute from the amount of time it takes to screw pipe together.

It may not sound like much, but “that’s a dollar a foot per well times 20 rigs,” Stice told analysts on a call Aug. 7 before sharing one of its operations mantras—“you got to inspect what you expect.”

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