A drilling rig with a top drive for engagement with a travelling block with a hook comprising an airlift thread compensator with an airlift box connected to a bail. The airlift box can have an airbag disposed therein. A bail pin can be engaged through the airlift box, and can be connected to the airbag. The airbag can support the top drive. Upper links can be connected to the airlift box and to a bearing housing. The bearing housing can support a stem connected to a motor, and a bearing can be disposed about the stem. Lower links can be connected to the bearing housing and to an elevator for moving tubulars. An inside blow out preventer can be connected to the stem and to a saver sub. A torque wrench can be connected to the bearing housing for gripping tubulars.