Yeah. So, what was happening was that every 150 ticks, (2.5s) Drills of Drills runs its speed cap check in priority-only mode, so that drills within the player's reach get updated quicker. (other drills are checked once per 900 ticks (15s))
The problem is that, with how I was assembling the list of priority drills, if you hadn't yet placed a Drill of Drills on the save, the priority drills list would pick up non-Drills of Drills, which obviously don't have a speed cap through my mod. Hence the comparison to nil. This was an API quirk I wasn't aware of and thus didn't ensure against.
How I fixed this was to simply check if the list of previously placed Drill of Drills types was empty, and if it was, then instantly return to break out of the speed check, regardless of whether or not it was a priority speed check or not, to cover for the API quirk I was previously unaware of.