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An oilfield equipment identifying apparatus comprising a computer loaded with an oilfield equipment database. A unique identification code is input into the computer for each piece of oilfield equipment in the drill string to form a reference in the oilfield equipment database to each piece of oilfi

An oilfield equipment identifying apparatus comprising a computer loaded with an oilfield equipment database. A unique identification code is input into the computer for each piece of oilfield equipment in the drill string to form a reference in the oilfield equipment database to each piece of oilfield equipment in the drill string. A drilling monitoring device receives input signals indicative of at least one of rotating and non-rotating usage of the drill string and output signals to the computer wherein the computer continuously and automatically monitors the cumulative rotating usage and non-rotating usage of each piece of oilfield equipment identified in the drill string.

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1. An oilfield equipment identifying apparatus comprising:a computer loaded with an oilfield equipment database;means for inputting into the computer a unique identification code for each piece of oilfield equipment in a drill string to form a reference in the oilfield equipment database to each pie

1. An oilfield equipment identifying apparatus comprising:a computer loaded with an oilfield equipment database;means for inputting into the computer a unique identification code for each piece of oilfield equipment in a drill string to form a reference in the oilfield equipment database to each piece of oilfield equipment in the drill string; anda drilling monitoring device constantly detecting movement of a drilling device associated with the drill string by automatically receiving input signals indicative of at least one of rotating and non-rotating usage of the drill string and outputting real-time signals to the computer wherein the computer continuously and automatically monitors the cumulative rotating usage and non-rotating usage of each piece of oilfield equipment identified in the drill string.2. An oilfield equipment identifying apparatus comprising:a computer loaded with an oilfield equipment database;means for inputting into the computer a unique identification code for each piece of oilfield equipment in thea drill string to form a reference in the oilfield equipment database to each piece of oilfield equipment in the drill string; andmeans for monitoring a drilling device and outputting signals to the computer wherein the computer continuously and automatically monitors the cumulative rotating usage and non-rotating usage of each piece of oilfield equipment identified in the drill string.