Prior to the present invention, it has been the accepted practice to utilize conventional motors and gearing connected therewith together with suitable additional clamping structure and elevator mechanisms for raising and lowering of clamped drill tubes and their bits and pipe being sunk into the drill hole. Use of conventional motors as well as the interconnected clamps and elevator systems and mechanisms have resulted in excessively high costs of setting-up and operation of oil drilling derricks, together with complicated and cumbersome structures and support required therefor.