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By Alden Greninger

METALLURGISTS have long believed that martensite in steel forms as plates along the octahedral {111} planes of austenite. Much has been written about mechanisms whereby units of the austenite lattice are pictured as transforming to martensite by shearing movements initiated along the octahedral planes of austenite, supposedly resulting in plates of martensite lying parallel to these planes of shear. A critical inspection of two or three photomicrographs of quenched hypereutectoid steel led us to the conclusion that the orientation habit of martensite, at least in hypereutectoid austenite, could not possibly be octahedral. Inasmuch as recent studies30,31 of the martensite-type reaction in nonferrous alloy systems have established the irrational orientation habit as characteristic of this type of lattice transformation, the need for a thorough restudy of the crystallography of martensite formation in steel was evident. The present paper reports the results of such a study, extended to include both cementite and some of the products of constant-temperature decomposition of austenite. Also reported are a few of the results obtained from a microscopic and X-ray study of the austempering process in very high-carbon steel.

Jan 1, 1940

Officials of the State Department have expressed their hope that a considerable number of technical men will take the examination for consular service. The Department recognizes that the interest of the United States will be served best if technical men are made available through these examinations for vacancies at points where their training will be of special value. Industrial engineers who have passed the con-sular examination will be assigned to industrial centers of Europe or South America. Mining engineers, chemists, electrical engineers, etc., will be assigned to industrial centers requiring special training.

Jan 11, 1919

By Herbert Kynor

BY THE term mechanical mining is meant that operation, or series of operations, that replace the hand methods of mining. The first undercutting machine to operate in anthracite was placed in the Butler mine of the Hillside Coal & Iron Co., Dec. 23, 1910, by the Sullivan Machinery Co. The first Jackhamer used in the anthracite field was installed at the Wadesville colliery of the Philadelphia & Reading Coal & Iron Co. in Oct., 1912, by the Ingersoll-Rand Co. The first longwall conveyor was installed at the Dodge mines of the Delaware, Lackawanna, & Western Coal Co. in March, 1912. The first mechanical scraper equipment was installed in the Seneca mines of the Lehigh Valley Coal Co. in January, 1914. The amount of anthracite mechanically mined since the first mining machine was installed in 1910a is as follows: PENNA. COAL Co. D. L. & W., SCRANTON TEMPLE HUDSON YEAR AND HILL- TONS COAL Co., COAL CO., COAL CO., TOTAL. SIDE COAL TONS TONS TONS TONS AND IRON, TONS 1920 372,737b 367,000d 322,892 74,127 371,878 1,508,634 1919 950,786 no record 306,616 81,575 319,356 1,658,333c 1918 917,778 744,966 24,880 44,756 288,781 2,021,161 1917 757,940 838,800 5,050 57,279 164,180 1,823,249 1916 286,780 860,663 13,960 114,173 101,475 1,377,051 1915 428,819 592,169 8,253 1,029,241 1914 219,188 153,896 373,084 1913 171,505 171,505 1912 124,267 124,267 1911 40,319 40,319 1910 1,184 1,184 a. A slightly greater production than shown was obtained as the tonnage from individual operations is not shown. b. Decrease due to strike conditions in 1920. c. Does not include tonnage of D., L., & W. d. D., L., & W. decrease in 1920 due to having less mining machines in operation. There are about 150 undercutters in use in the anthracite region, 80 mechanical loaders, and 10 longwall conveyors.

Jan 9, 1921

By Edward Walsh

In the early history of the production of metallic iron from the native oxides or ores, success attended the labors of the workman according to the care he devoted to his work, and according to the degree of skill he possessed in furnishing the required amounts of fuel and ores to be acted upon by the blast propelled by the bellows, trompe, or wooden tub, and delivered into the hearths of the Persian, bloomery, or Catalan forges. The same skill may also have been of avail in the use of the lower forms of the ".Stück," "Blue,"or" Wolf"

Jan 1, 1887

By C. R. Wohrman

A melt of pure electrolytic iron with about 0.4 per cent. sulfur and 7 per cent. manganese was prepared in connection with a study of inclusions in iron. The alloy darkened rapidly when etched with a 10 per cent, alcoholic solution of nitric acid, and microscopic examination revealed the presence of a semimartensitic, semi-Widmanstättian structure (Figs. 1 and 2) closely resembling the structures found by Benedicks in his artificially prepared "meteoric iron."' The structures found by Benedicks were readily explained by the presence in his alloy of the two well-known iron-nickel solid solutions, taenite and kamacite, and of their eutectoid (?) aggregate, plessite. By analogy, one would infer the existence of similar phases in the iron-manganese alloy just described, such an inference being strengthened by the similarity displayed in many ways by nickel and manganese in their effects on iron. Iron-manganese Alloys are Regarded as Homogeneous Heterogeneity of iron-manganese alloys has not been recognized heretofore, judging from the data of standard metallographic books and those of original papers. In fact, iron and manganese are quite generally regarded as completely miscible in the solid state. Dr. Rosenhain,2 for example, writes: Alloys of group (a), of which those of gold-silver, iron-manganese, and copper-nickel are examples, when allowed to crystallize sufficiently slowly to attain their condition of final equilibrium, present a microstructure exactly similar to that of a pure metal—the homogeneous character of the molten solution is in that case so completely maintained that the microscope cannot detect the presence of any second constituent. Guillet and Portevin3 refer to the iron-manganese system as an example of the "case of metals completely miscible in the solid state."

By T. L. Fritzlen

EXTRUSION of aluminum alloys in this country is performed mainly by direct extrusion, therefore this paper is confined only to factors affecting the rate of extrusion by this method. Many factors affect the rate of extrusion of aluminum alloys. It is the purpose of this paper to present a discussion on the factors that are subject to technical control. Most of them are closely related, so that a clear-cut distinction between them is rather difficult. However, an attempt will be made to evaluate the effect of each factor separately, as far as possible. The most important factors only will be considered, and these will be discussed in detail under three general headings: (I) characteristics of the equipment, (2) size and structure of the ingot, and (3) temperature of ingot, cylinder, and other parts. It is a well established fact' that the pressure and the speed of extrusion are related and are exponential functions of one another. Therefore, whenever a certain condition tends, for instance, to increase the pressure required for extrusion, it will reduce the extrusion speed if the pressure is maintained constant. For this reason, in this paper the effect of various conditions is expressed either in regard to their effect on the pressure required or the extrusion speed. Another established fact is the relationship between the temperature of the material being extruded and the pressure required to extrude. According to Schishokin,2 this relationship is of the exponential type, and as the temperature is increased the pressure required is decreased. It would seem from the preceding that the greatest rates of extrusion can be obtained by the use of higher temperatures. However, as is well known, other factors intervene to limit the rate of extrusion of aluminum alloys when increasing the temperature. These factors will be discussed in detail later. CHARACTERISTICS OF THE EQUIPMENT The capacity of the press determines the maximum unitary pressure that can be applied for any given cylinder diameter. Pressures used for extrusion of aluminum alloys range from approximately 50,000 lb. per sq. in. to 150,000 lb. per sq. in., dependent upon the alloy and the size of the shape extruded. Higher pressures could be used to advantage, but existing steels limit pressures employed in the production of extrusions. Numerous mechanical characteristics of the extrusion press affect extrusion rate. The most important characteristics of the press itself are: (I) sensitivity of the main pressure valve and accuracy of pressure gauges, (2) accuracy of equipment to heat the cylinder uniformly and to control cylinder temperature, and (3) accuracy of means of measuring the speed of extrusion. The variables subject to control during the extrusion operation are pressure, temperature, and speed, and it is evident that the preceding characteristics

Jan 1, 1945

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By H. A. Guess

For a number of years I have used for the commercial wet assay of lead generally the ammonium molydate, and occa-sionally the ferrocyanide method. These well-known methods need no detailed description here. In the ore-selling and ore-buying establiahments of the West, 90 per cent. of all wet lead-assays are made by one or the other, and at least nine-tenths of this proportion by the molybdate method. A procedure so well-established must have merit; and, in

Jan 1, 1905

By Karl Sundberg

ELECTRICAL investigations carried out in regions containing sedimen-tary rocks showed that sediments generally are good electrical conductors, a fact which at the present time is used for structural investigations by electrical methods. It is of fundamental importance, not only for these investigations but also for electrical prospecting in general, to know the electrical properties of various soils and rocks. It will be useful, there-fore, to discuss this question with the hope that the general points of view discussed in this paper will perhaps be, completed by further observations and determinations of material from various localities. This paper is based principally on the study of literature, and the purpose is primarily a discussion of the main factors that determine the electrical conductivity of soils and rocks. It will follow, however, that the factors discussed here also frequently decide how far a certain orebody can be regarded as a good electrical conductor compared with the sur-rounding rocks. All-rocks are more or less porous; and the pores are filled with liquids and gases. Their electrical conductivity, therefore, depends on the following factors: 1. The electrical conductivity of minerals composing the rock. 2. Electrical conductivity of the liquid filling the pores. 3. Proportion of the volume of liquid filling pores of the rocks to the solid rock material. 4. Shape of the pores. 5. Arrangement of the particles of gas and liquids. 6. Temperature. Dry minerals, with the exception of certain ore minerals, are complete nonconductors from the point of view of applied geophysics; in the present investigation we deal with rocks which have no conducting minerals, and factor 1, therefore, is not important. The same is true of soils. The liquids contained in soils and rocks in most cases are waters, some-times oil. As oil is a nonconductor of electricity, the impregnating waters will determine the electrical conductivity of soils and rocks.

Jan 1, 1932

By Reinhard H. Wöhlbier, George E. Aiken

8.4-1. Introduction. Surface excavating is done on a continuous basis with a variety of machines: 1) trenchers and ditchers, 2) conveyor loaders, and 3) bucket-chain and bucket-wheel excavators (BWE). Surface mining is largely concerned with only the last two machines, although some of the conveyor-loader types are often used by contractors for large-scale earth moving, and the engineer should be aware of these applications. This chapter is restricted to discussing only the bucket-chain and bucket-wheel excavators, with special emphasis on the latter. Continuous digging with these machines is done with evenly spaced buckets on either an endless chain or on the periphery of a rotating wheel. The bucket-chain digger excavates and takes the material away from the face with the same machinery. In the case of the bucket-wheel machine, these two functions are separate. Material is excavated by the buckets and then flows in a continuous stream via a transfer to the conveyor system, which in turn transports it to the discharge point. The wheels are adjustable in rpm and mount 6 to 12 buckets of equal size. These are classed as celled, cell-less or semicelled. The digging ladders for both types can move simultaneously in the horizontal and vertical planes. Ladder control is similar to the operation of a bucket-line dredge. Some ladder-chain and all wheel excavators have the machinery deck and superstructure mounted on a 360° swing circle. Other chain diggers have a fixed machinery deck. Deep and/or high cutting models are available in either the chain or wheel excavator. Machines can be either rail or crawler mounted, but the trend is to crawlers. Many of the early ladder-chain, rail-mounted excavators have been converted to crawlers. These may be either of the single or bogie type, depending on the conditions. Large machines usually use the superior three-point crawler suspension.

Jan 1, 1968

By Guy Bjorge

IN recent years the Homestake mine has been served by three shafts, the B. &. M., the B. & M. No; 2 and the Ellison, supplemented by an inside shaft, the Milliken, extending from the 2000-ft. level to the 3200-ft. level. In 1932, when a new operating shaft was under consideration, the bottom of the mine was at the 3200-ft. level. The B: & M. and the B. & M. No. 2 shafts were down to the 1550-ft. level and the Ellison was being deepened from the 2600 to the 3200-ft. level. All ore was hoisted at the B. & M. and-Ellison shafts. Levels below the 2600 level, which were under development only, were served by the Milliken shaft. Below the 1550-ft. level, the mine was served only by the Ellison shaft from the surface. Within a few years, when ore reserves above the 1550-ft. level would be depleted, operation would be limited to the Ellison shaft and the auxiliary underground shaft. The Ellison shaft alone was not adequate for hoisting the entire output from the deeper levels and also handling all men and supplies. Further-more, assurance of safety and uninterrupted operation required- two fully equipped shafts to the deeper levels. Therefore a new operating shaft was authorized in November, 1932, and was named for A. J. M. Ross, the mine superintendent.

Jan 1, 1935

By Donald B. Evans, Robert D. Pehlke

The solubility of nitrogen in liquid Fe-A1 alloys has been measured up to the solubility limit for formation of aluminum nitride using the Sieverts method. The activity coefficient of nitrogen decreases slightly with increasing aluminum content in the range of 0 to 4 wt pct Al. Based on a nitride composition, AlN, the standard free energy of formation of aluminum nitride from fhe elements dissolved in liquid iron has been determined to be: ?F" = -59,250 + 25.55 T in the range from 1600º to 1750ºC. The solubility of nitrogen in liquid iron alloys and the interaction of nitrogen with dissolved alloying elements in liquid iron have been the subject of a number of research investigations.' Most of this work, however, has been reported for concentrations well below those necessary for the formation of the alloy nitride phase. Data in the concentration region near the solubility limit of the alloy nitride, particularly for systems exhibiting stable nitrides, are important in evaluating the denitrifying power of various alloying elements. They are also useful in determining the stability of a given nitride if it is to be used as a refractory to contain liquid iron alloys. In view of the importance of aluminum as a deoxidizing agent in commercial steelmaking and the fact that its nitride, AIN, is a highly stable compound and has merited some consideration as an industrial refractory, the following investigation was undertaken. The use of the Sieverts technique provided a measurement of the equilibrium nitrogen solubility in liquid Fe-A1 alloys as a function of nitrogen gas pressure up to 3.85 wt pct A1 in the temperature range of 1600º to 1750°C. The values obtained by the Sieverts method were checked by means of a quenching method in which liquid iron was equilibrated with an A1N crucible under a known partial pressure of nitrogen gas, and the solubility of A1N in liquid iron determined by chemical analysis. EXPERIMENTAL PROCEDURE The theoretical considerations involved in determining the solubility product of a solid alloy nitride phase in liquid iron by measuring the point of departure of the nitrogen gas solubility from Sieverts law have been discussed by Rao and par lee.' The principal problem is to determine the variation of nitrogen solubility in an alloy as a function of the pressure of nitrogen gas over it with sufficient precision to establish the break point in the curve at the solubility limit of the alloy nitride phase. A fairly large number of data points are required to do this. A second problem is the determination of the composition of the precipitated solid nitride phase. This is necessary in order to define completely the thermodynamic relationships. The Sieverts apparatus used to make the nitrogen solubility measurements in this investigation is of essentially the same design as that described by Pehlke and E1liott.l The charge materials were Ferrovac-E high purity iron supplied by Crucible Steel Co. and 99.99+ pct pure aluminum. Recrystal-lized alumina crucibles were used, and were not attacked by the liquid alloys. The hot volume of the system which was measured for each melt ranged from 46 to 50 standard cu cm and was found to decrease linearly with decreasing pressure and with increasing temperature. The temperature coefficient of the hot volume at 1 atm pressure of argon gas was essentially constant for all experiments at a value of -6 X 10-3 cu cm per "C. The melt temperature was measured with a Leeds and Northrup disappearing filament type optical pyrometer sighted vertically downward on the center of the melt surface. The temperature scale was calibrated against the observed melting point of pure iron taken as 1536°C. The emissivity of all melts was assumed to be that of pure iron, taken as 0.43. The charge weights ranged from 110 to 140 g and the range of aluminum contents covered was from 0 to 3.85 wt pct. Aluminum additions were made as 12 to 15 wt pct A1-Fe master alloys previously prepared in the system under purified argon. The compositions of the master alloys were checked by chemical analysis and found to be in agreement with the charge analyses. Vertical cross sections of the master-alloy ingots were used as charge material for the equilibrations in order to minimize the effect of any segregation which might have occurred during solidification of the master alloys. Determinations of the solubility product of

Jan 1, 1964

By Waldemar Lingren

CONTENTS. PART I.-GENERAL FEATURES. [ ]

Jan 1, 1902

By T. L. Joseph

A study is made of the amount of solution loss necessary to maintain the reducing power of the gas stream in the blast furnace. Curves are presented to show the effect of solution loss, moisture in the blast, and carbon dioxide from the flux on the nitrogen in the THE blast furnace process is based upon the counter flow of gases and solids. As CO, N, and H, flow upward from the combustion zones, oxygen is acquired from the descending charge. In the reduction of iron ore, a portion of CO is converted to CO, and similarly a portion of H, is converted to water vapor. The inert N,, from the air used in combustion, passes through the furnace with little change. Its concentration is, however, decreased by reactions such as direct reduction and solution loss which increase the volume of CO in the gas stream; Similarly the evolution of C02 from the limestone also dilutes the nitrogen. he purpose of this paper is to illustrate an idealized and simplified method of studying furnace processes by following changes in the gas phase between the tuyeres and the stock line. A more specific objective is to evaluate the effect of solution loss upon the CO/CO, ratio in that region of the furnace in which FeO is reduced to metallic iron. This last stage of reduction requires relatively high CO/CO, ratios to exceed the equilibrium requirements. Solution loss or the reaction of COZ with C to produce CO has a pronounced effect upon the ratio of the carbon gases and is necessary to maintain the reducing power of the gas stream if the consumption of coke is low. It will be explained later that indirect reduction followed by solution loss is stoichiometri-cally equivalent to direct reduction. Calculations will be made to show how the composition of the gas in the region of the mantle varies with coke consumption and with different amounts of solution loss. Such calculations show the condi- tions under which gasification of C with oxygen in the charge is needed to maintain the reducing power of the gas. Equilibrium conditions for FeO and the carbon gases will be used to establish a minimum CO/CO, ratio below which reduction will not proceed. The manner in which carbon is gasified in the furnace, at the tuyeres with oxygen in the air or above the tuyeres with oxygen from the charge, will be a basic feature of all calculations. It is hoped that greater interest in the use of top gas as a means of following furnace reactions will be aroused by the calculations and generalized curves which are presented. Bosh Gas Equations Subject to some alteration by the amount of moisture in the blast and by direct reduction, the gas leaving the combustion zones of a blast furnace has a definite composition. Because a relatively small amount of oxygen is acquired from the charge in the bosh and in the crucible, the products of combustion undergo little change until they enter the shaft. Bosh gas is, therefore, essentially the products of combustion of carbon in a deep fuel bed with air. The relative weights and volumes of reacting materials are expressed by the equation: 2~ + 0? + 3.76N, = 2C0 $ 3.76NZ [I] Air Bosh Gas -air = 79% N? = 3.76) 21% 02 Starting with a known mass of C consumed largely by air, Eq 1, but partly by water vapor, Eq 2, the volume and C + H2O = CO $ H? [21 composition of the bosh gas can be calculated and subsequent changes followed as reactions take place at various elevations in the furnace. As shown in

Jan 1, 1952

Discussion of the paper of Ernest Stütz, presented at the New York Meeting, October, 1913, and printed in Bulletin No. 79, July, 1913, pp. 1257 to 1265. H. 0. HOFMAN, Boston, Mass.:-I have hunted in vain for a figure which gives a dehydration temperature of cement. I was wondering if Mr. Stütz had a figure of that kind. E. STÜTZ :-No, I am afraid I have not. H. 0. HOFMAN :-I believe some figures have been published that cement disintegrates at 400° or 500° C. It seems tome a very low temperature. Mr. Stütz just made the statement that the disintegration of this briquette begins at the temperature at which the briquette begins to sinter. E. STÜTZ :-Above the sintering point. H. 0. HOFMAN :-The sintering point would be about 1,200° C. E. STÜTZ :-Yes, roughly speaking. I am afraid I have no information about the exact degree of dehydration. H. O. HOFMAN :-I have looked a great deal for such a figure and I have not been able to obtain it. Professor Howe says I might have tried myself. But my interests were directed in another line; although-that is, perhaps, a good suggestion. CHAIRMAN RICHARDS:-Is not Portland cement sometimes used for the test in a cupellation furnace and a drying-out furnace ? H. O. HOFMAN :-Yes, it is used, but that is a higher temperature, of course. But I have been trying to get a figure as to where it loses all its water. I understand it begins to lose water at 500° C. But there are different silicates or hydrosilicates in the cement, so that one would have four or five or sit figures to show the different stages at which the cement loses its water. CHAIRMAN RICHARDS :-I would ask whether the use of this material in blast furnaces has shown increased capacity of furnace or decreased consumption of fuel.

Jan 12, 1913

By H. C. Howarth

This paper gives observations on ground movement and subsidence resulting from pillar drawing in the Lick Run section of Montour No. 10 mine of the Pittsburgh Coal Co. adjacent to solid coal owned by the U. S. Bureau of Mines at its Experimental mine in Snowden Township, Allegheny County, Pennsylvania. The investigation was planned by George S. Rice, chief mining engineer of the Bureau, who arranged the necessary cooperation with Dr. L. E. Young, vice president of the Pittsburgh Coal Co. Engineers of that company placed permanent monuments on the surface to establish the boundaries of the coal owned by the Bureau and to furnish fixed points to which all levels were referred. Engineers of the Experimental mine staff then covered the ground under observation with a checkerwork of monuments made of oak pegs set into the ground at 50-ft. intervals in two directions at right angles to each other. The level of these pegs was determined first from Dec. 16 to 30, 1929; again from May 25 to June 5, 1930, and finally from July 7 to 15, 1931. Observations were then discontinued because work had been stopped temporarily in this part on Montour 10 mine. General Conditions Fig. 1 is a plan of the part of the area under observation with which this paper deals. The mine is developed on a room and pillar system known locally as half advancing and half retreating. As Nos. 35 and 36 butt entries were advanced, rooms were driven from No. 36 and drawing of the room pillars followed their completion. When the entries reached the boundary, rooms were started from No. 35 butt beginning at that point, and all remaining pillars were drawn as rapidly as possible. The rib lines of Jan. 9 and June 13, 1930, were surveyed a week to 10 days after the first and second sets of levels were run, and there was some advance in that period. The rib line of July 15, 1931, agrees in time

Jan 1, 1934

By A. C. Bulnes

This paper applies the methods of statistical analysis to the interpretation of core analysis data of dolomitic limestone from the San Andres formation at Wasson and the Clearfork formation at Fullerton. Probability relationships are shown to connect the porosity and the permeability and the porosity and the fluid saturation. For example, the porosity-permeability relationship expresses the probability that a sample of porosity,f, will or will not be permeable. The over-all porosity frequency distribution of the reservoir together with the frequency curves of permeability (one for each class interval of porosity) provide a precise basis for computing the weighted average productive porosity of the reservoir for any assigned value of the minimum productive permeability. The probability that the permeability of a core specimen from Fullerton will exceed a given value appears to be dependent on the percentage porosity of the specimen, its void structure type (i.e., porosity in the qualitative sense), and the given value of the permeability. If continuous profiles of void structure type and porosity are available together with the appropriate porosity-probability of permability plots, the nes pay thickness may be estimated. The Invasion Index of a well is defined in terms of the porosity and permeability data. This index is suggested as a basis for comparing wells as regards their suitability as fluid-injection wells. Three problems of importance in the exploitation of limestone reservoirs may be stated as follows: 1. The determination of the productive porosity of the reservoir. The productive porosity is defined as f = fPVP/V [II in which Vp, is the volume of the reservoir that is sufficiently permeable to oil to give up an appreciable fraction of its original oil in place during the economic life of the reservoir; fp, is the arithmetic mean porosity of the permeable volume v*, and V is the total volume of the reservoir. 2. The determination of the number of feet of oil-bearing porous rock that will produce at a commercial rate into the well bore; i.e., the net pay thickness. 3. The choice of fluid-injection wells in a secondary recovery program. The ultimate recovery of the reservoir is proportiona1 to the productive porosity. The productive capacity of the well is proportional to the net pay thickness. The principal purpose of this paper is to show that the methods of statistical analysis when applied to core analysis data of dolomitic limestones offer a useful approach to the solution of these three problems, as well as others of importance in reservoir engineering. The use of these methods was suggested by the work of Jan Law.1

Jan 1, 1946

By A. C. Bulnes

This paper applies the methods of statistical analysis to the interpretation of core analysis data of dolomitic limestone from the San Andres formation at Wasson and the Clearfork formation at Fullerton. Probability relationships are shown to connect the porosity and the permeability and the porosity and the fluid saturation. For example, the porosity-permeability relationship expresses the probability that a sample of porosity,f, will or will not be permeable. The over-all porosity frequency distribution of the reservoir together with the frequency curves of permeability (one for each class interval of porosity) provide a precise basis for computing the weighted average productive porosity of the reservoir for any assigned value of the minimum productive permeability. The probability that the permeability of a core specimen from Fullerton will exceed a given value appears to be dependent on the percentage porosity of the specimen, its void structure type (i.e., porosity in the qualitative sense), and the given value of the permeability. If continuous profiles of void structure type and porosity are available together with the appropriate porosity-probability of permability plots, the nes pay thickness may be estimated. The Invasion Index of a well is defined in terms of the porosity and permeability data. This index is suggested as a basis for comparing wells as regards their suitability as fluid-injection wells. Three problems of importance in the exploitation of limestone reservoirs may be stated as follows: 1. The determination of the productive porosity of the reservoir. The productive porosity is defined as f = fPVP/V [II in which Vp, is the volume of the reservoir that is sufficiently permeable to oil to give up an appreciable fraction of its original oil in place during the economic life of the reservoir; fp, is the arithmetic mean porosity of the permeable volume v*, and V is the total volume of the reservoir. 2. The determination of the number of feet of oil-bearing porous rock that will produce at a commercial rate into the well bore; i.e., the net pay thickness. 3. The choice of fluid-injection wells in a secondary recovery program. The ultimate recovery of the reservoir is proportiona1 to the productive porosity. The productive capacity of the well is proportional to the net pay thickness. The principal purpose of this paper is to show that the methods of statistical analysis when applied to core analysis data of dolomitic limestones offer a useful approach to the solution of these three problems, as well as others of importance in reservoir engineering. The use of these methods was suggested by the work of Jan Law.1

Jan 1, 1946

By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985