The way the cable rig works is really old school. It has a heavy weight With a mid evil looking weapon on the end. The truck provides about 2-3 ft of stroke to the weight and bit. The operator pays out just enough cable so the bit slaps the bottom of the hole, pulverizing the rock into dust.
He has to add water in the bottom of the hole until the well is making it's own. That turns to slurry and has to be dipped out. He pulls the bit out of the hole and sends in a pipe lookin thing that has a valve on the end. When it makes contact with the bottom of the hole the valve opens and the slurry rushes in. He picks it up and the valve closes. Up and out of the hole he drops it to the side and out comes the slurry.
If he gets 10 ft a day in rock I think he is doing well. No pun intended. 20 ft if the material is cooperating.
The cable rig's perceived advantage is that there is no pressure applied to the hole during drilling. The theory is that if you have a slow producing fissure in the rock the modern rig might just force debris into the crack and plug it. Since they have to pressurize the hole to remove the spoils as they drill. Where the cable rig may just force it open.
Anyway you look at it, well drilling is a shot in the dark. Pun intended.
Clarify costs and check if the driller is charging for dry holes. Some of the companies will charge if they come up dry. Around my parts it's $15/ft dry and 25 wet.
Also I understand the old timers used a cable rig with a weight that hammered the pipe. Old and slow the weight was lifted with a cable then dropped on the pipe. Many wells drilled this way. The newer rigs use a pneumatic system?. I found an old timer with a cable rig. His costs were around $5 less.