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By W. B. Hickman, J. J. Pickell, B. F. Swanson

Many physical properties of the porous media-immiscible liquid system are dependent upon the distribution of fluids within the pores; this in turn, is primarily a function of pore structure, liquid-liquiri interfacial tcnsion and liquid-solid wetting conditions. The cnpillary pressure hysteresis process provides a means of investigating the influence of pore structure upon fluid distribution for consistent sur/acc conditions. Invcstigntiot2s indicate that residual non-wetting-phase saturations /ollozuir,g the imbibition process (i.e.,wetting phase displacing nor2-wctting phase) are dependent upon both pore structure and initial non-raetting phase saturation and suggest that residual fluid is distributed as Discontinuous ,globules, one to a few pore sizes in dimension, thrnugh the entire range 01 pore sizes originally occupied. It clppears that air-mercury capillary pressure dala adequntely rellect the distribution of fluiris in a water-oil system when strong wetting condition preliczil. An oil-air counter-current imbibition technique has also been found to provide a rapid rneans of obtaining residual-initial saturation data. In a majority of cnses, rcsidual saturations detf-rniinecl from the oil-air or air-mercury process reasonably approximate residual oil saturation following water drive of a strongly water-wet medium. INTRODUCTION A reliable estimate of recoverable reserves depends not only on the amount of original oil-in-place but also on pore geometry and distribution of fluids within the pores. A critical parameter determining the recovery from a reservoir under waterflood, for example, is the amount and distribution of residual oil within the various rock types present. The purpose of this paper is to investigate the mechanism of capillary trapping and assess its importance in laboratory measureqents of residual oil saturation. The degree of wettability of a reservoir rock is recognized as an important factor in waterflood or imbibition experiments. In this paper, however, only the water-wet case has been considered. Considerable experimental evidence1 suggests that for water-wet rocks, capillary forces predominate in tile distribution of fluids and that viscous forces in the range normallv of interest in the reservoir have a minimum influence on residual oil saturation. It follows that if the ultimate recovery is controlled by pore geometry, a unique residual non-wetting phase saturation should exist for a given set of initial conditions. Two laboratory procedures.found to be extremely useful in the study of pore structure and degree of fluid interconnection at various saturations are decribed. Although air-nercury capillary injection curves have been used2 previously to characterize the drainage case, the withdrawal or imbibition case can provide valuable supplementary data. The air-mercury process, however, has several disadvantages; it is difficult to run in a sufficiently accurate manner, mercury does not always act as a strongly non-wetting liquid and in the air-mercury process the sample is rendered unsuitable for future analyses. An alternative process is described in which air is the non-wetting phase and naptha, hentane, octane or toluene is the wetting phase. INTERFACIAL TENSION AND CAPILLARY PRESSURE Interfacial tension between immiscible fluids is due to the difference in attraction of like molecules as compared with their attraction to molecules of the neighbouring fluid. This net attraction results in a tension at the interface. To extend the interface; thus, interfacial tension s can also be thought of as free surface energy. Interfacial tension is normally expressed as dynes/cm, and interfacial energy is measured in ergs/cm2 hence, both have dimensions ml A 2 and are numerically equal.

Jan 1, 1967

By Carl Swartz

ALTHOUGH a number of articles appeared during the war advocating the use of cadmium in lead-tin solders, very little information of value can be found in the literature regarding the properties of solders containing cadmium. In most of the published articles the cadmium seems to have been considered merely as a partial substitute for tin in a tin-lead alloy rather than as an essential constituent of a ternary alloy. The primary object of the substitution of cadmium for tin was to lessen the amount of tin required, at a time when the latter was scarce and high-priced, and thus to produce a cheaper solder. While this object was accomplished, the new properties resulting from a change from a binary lead-tin alloy to a ternary lead-tin-cadmium alloy were not given proper consideration in many cases. For the past few years, the American Smelting & Refining Co. has been marketing a very considerable amount of cadmium in the form of lead-tin-cadmium alloys for use as solders for certain special purposes, and the successful use of these solders suggested that if more extensive knowledge were available concerning the properties of lead-tin-cadmium alloys of various compositions their field of usefulness might be materially extended. The investigation described in the present paper was undertaken to obtain this information and, by means of tests under conditions approaching those of practical use, to determine the suitability of cadmium solders for various purposes.

Jan 1, 1928

By John P. Norton

Microcrystalline silica has been mined in Illinois from the Clear Creek Formation since the turn of the century, especially in the area around Tamms in Alexander County, in the southernmost part of the state. This silica is consumed mainly by the abrasives and coatings industries, but is also sought after for many filler/extender uses. Production has grown with the economy with several new applications overshadowing traditional markets in recent years. Many of these applications are directly or indirectly related to energy saving factors. As a result of the "energy crisis" and "resin crunch," fillers have received a great deal of renewed attention as a desirable way of stretching the available resin supplies. With feedstocks in short supply and shortages existing in the entire petrochemical industry, the use of bulk materials to improve and extend existing resin is becoming an every increasingly important facet of plastics and coatings technology. Silica is the choise of fillers in applications where inertness, hardness, and low absorption are necessary characteristics. Microcrystalline silica has the additional advantage of being relatively easy to grind because the crude ore is a friable rock composed of tiny crystallites, many less than 0.1 u in diameter. Grinding represents a significant energy input in the production of silica flours. With energy costs increasing rapidly, comparable grades of silica flour made from microcrystalline silica have advanced less in price and it is expected this trend will continue in favor of the microcrystalline silica.

Jan 1, 1978

By K. M. Fagin, D. W. Carter

Six new oil fields were discovered in the East and East Central Texas district during 1942. The Coke and Quitman fields, in Wood County, at this time appear to be the two most important oil discoveries for the year. The. four other oil fields discovered were Concord, in Anderson County; Kildare, in Cass County; Weiland (ClubLake), in Hunt County; and Larissa, in Cherokee County. The Rodessa lime in the Chapel Hill field, Smith County, provided the only new oil zone in older fields. The Hawkins field, Wood County, was the most active in drilling operations, 125 new wells being completed during the year. The Chapel Hill field tied the Coke field for second place with 30 completions each. The third most active field was Kildare, with 10 completions. Like the other oil-producing districts of the country, wartime restrictions reduced the number of oil and gas-well completions to 265 in 1942, compared with 964 completions in 1941. This represents a drop of 72 per cent and only a little more than one half enough to replace the 437 producing wells abandoned in the district during the year. Tn addition, the number of producing wells temporarily shut down nearly tripled, far two principal reasons: (I) the rule of the Petroleum Administration for War preventing operators from equipping more than, one well on each 10 surface acres with pumping or artificial-lift equipment, and (2) the Railroad Commission's issuance of various orders permitting the transfer of allowable for wells having high water-oil ratios and high gas-oil ratios to other wells capable of producing the same with less waste of reservoir energy. No changes were made in prices of crude oil in the district during 1942. Production and Probation The district produced 158,928,281 bbl. of oil and distillate during 1942, compared with 163,566,695 bbl. during 1941, which represents a decrease of 3 per cent. The East Texas field produced 120,680,595 bbl. of oil, compared with 130,377,793 during 1941; a reduction of 9,697,198 bbl., or 7.4 per cent. The production of this field represents 75.9 per cent of the district total, compared with the 79.7 per cent that it furnished in 1941. The district had an estimated basic daily oil allowable of 623,242 bbl. on Dec. 31, 1942. Approximately 31.8 per cent of the production in Texas during 1942 was supplied by this district, compared with 33 per cent during 1941- Changes in the annual production of newer and flush fields in this district are attributable either to a difference in the number of wells producing during the year or to changes in basic allowable and number of shutdown days due to shifting market dconditions brought on by the war. All regularly prorated fields in the district were shut down 123 days. Major exceptions were the East Texas field, closed128 days; Hawkiis, shut down 106 days; and Cayuga, Sulphur Bluff, Talco, and Rodessa, which

Jan 1, 1943

By D. W. Carter, K. M. Fagin

Six new oil fields were discovered in the East and East Central Texas district during 1942. The Coke and Quitman fields, in Wood County, at this time appear to be the two most important oil discoveries for the year. The. four other oil fields discovered were Concord, in Anderson County; Kildare, in Cass County; Weiland (ClubLake), in Hunt County; and Larissa, in Cherokee County. The Rodessa lime in the Chapel Hill field, Smith County, provided the only new oil zone in older fields. The Hawkins field, Wood County, was the most active in drilling operations, 125 new wells being completed during the year. The Chapel Hill field tied the Coke field for second place with 30 completions each. The third most active field was Kildare, with 10 completions. Like the other oil-producing districts of the country, wartime restrictions reduced the number of oil and gas-well completions to 265 in 1942, compared with 964 completions in 1941. This represents a drop of 72 per cent and only a little more than one half enough to replace the 437 producing wells abandoned in the district during the year. Tn addition, the number of producing wells temporarily shut down nearly tripled, far two principal reasons: (I) the rule of the Petroleum Administration for War preventing operators from equipping more than, one well on each 10 surface acres with pumping or artificial-lift equipment, and (2) the Railroad Commission's issuance of various orders permitting the transfer of allowable for wells having high water-oil ratios and high gas-oil ratios to other wells capable of producing the same with less waste of reservoir energy. No changes were made in prices of crude oil in the district during 1942. Production and Probation The district produced 158,928,281 bbl. of oil and distillate during 1942, compared with 163,566,695 bbl. during 1941, which represents a decrease of 3 per cent. The East Texas field produced 120,680,595 bbl. of oil, compared with 130,377,793 during 1941; a reduction of 9,697,198 bbl., or 7.4 per cent. The production of this field represents 75.9 per cent of the district total, compared with the 79.7 per cent that it furnished in 1941. The district had an estimated basic daily oil allowable of 623,242 bbl. on Dec. 31, 1942. Approximately 31.8 per cent of the production in Texas during 1942 was supplied by this district, compared with 33 per cent during 1941- Changes in the annual production of newer and flush fields in this district are attributable either to a difference in the number of wells producing during the year or to changes in basic allowable and number of shutdown days due to shifting market dconditions brought on by the war. All regularly prorated fields in the district were shut down 123 days. Major exceptions were the East Texas field, closed128 days; Hawkiis, shut down 106 days; and Cayuga, Sulphur Bluff, Talco, and Rodessa, which

Jan 1, 1943

By Mark Alling

INTRODUCTION A FEW years ago, gravel mining in the ancient river beds of Sierra county was the principal industry of the county. Operating drift mines were very numerous and many large hydraulic mines were in action. Eventually the State laws put an end to hydraulic mining, it being claimed that the silt carried down the streams to the valleys filled the rivers and caused winter floods, which were damaging to the surrounding farms. The ancient river deposits which could easily be found were, in the course of 40 years, worked out or practically so. The prohibition of hydraulic mining was a severe blow to the industry in general. The deposits were not developed and the gravel-mining industry practically stood still for many years. In Sierra county, nearly all the hydraulic mines were at the points where the ancient channels were exposed to view by reason of the modern stream erosion, or, in the miner's language, where the channels "enter" or "break out of" the ridges. The claims covering them also covered large areas in which were long segments of lava-capped channels, suitable for drift mines, and the points being hydraulicked were usually the controlling points of attack. Men who have followed hydraulic mining for any length of time seldom are content to work a drift mine. Knowing the great value of their deposits and feeling that they had been robbed by the State, these men have stubbornly held to their claims. The gold that is carried in these gravel channel deposits is more or less scattered throughout the depth and width of the deposit; the percentage that can be recovered by the process of drifting ranges from 50 to 75 per cent. of the total. In hydraulicking, practically all of the deposit is put through the sluices, and as the cost per cubic yard is only about 10 per cent. of the cost of drifting, the deposits, if classed as hydraulic mines, are much more valuable than if classed as drift mines; hence the old timers have held their claims (now worthless as hydraulic mines) at prices which the drift-mining industry could not stand; and such mines

Jan 7, 1914

By Wayne Anderson

Regarding the technical paper by Thomas E. Finch and Edward L. Fidler, "Recovery of Stray (Thin) Seams in Western Coal Mining." I would like to comment on this subject. In western Canada, most strip mines encounter thin seam coal or rider seams. Although the paper addresses the problems and costs associated with the recovery of this coal, it does not take into account what the savings are. Without looking at the savings, the "Total Objective" is of course not clear. I feel that in a stripping operation the mine can spend per ton (of the thin seam) up to their dragline stripping costs per ton to recover a rider seam or thin seam. The reasoning behind this is simply that this is the price the mine will have to pay to expose an equivalent amount of coal without the recovery of these thin seams. If the mine can recover a rider seam or thin seam for less than the dragline operating costs per ton, a savings will be realized. By recovering a thin seam or rider seam, the life of an ore body is extended by that amount of coal not thrown away. In addition, the cost of land acquisition, associated permits, capital, and reclamation will be reduced as more coal is delivered for a given area. When the above points are considered, the recovery of these thin seams can be very profitable and indeed worth recovering.

Jan 1, 1983

By W. E. Wrather

The overproduction of crude oil in 1927 has received such widespread publicity, both within and without the industry, and the several factors which have brought about this situation are so thoroughly agreed upon by everyone, that it is unlikely the writer will in this brief review be able to contribute anything new. The entire story of low prices and demoralization revolves around two flush districts, Seminole and West Texas— the actual. performance of Seminole and the potential threat of West, Texas. The sustained production of California has been a contributing factor to this situation also. It seems reasonably certain that Seminole and West Texas will together dominate the industry during 1928, with Seminole probably destined to drop into second place, as additional pipe lines are completed into West Texas to care for its rapidly expanding production. It now appears inevitable that the production of 1928 will equal or exceed that of the past year, depending solely upon the rapidity wit,h which it is possible to market West Texas crude, and the degree of restraint which operators are willing to impose upon themselves in holding proved reserves of oil underground. Adversity has cultivated the growth of a promising spirit of cooperation which has accomplished practical results both at Seminole and in West Texas. Cooperation among oil producers has long been ardently hoped for, but prior to the past year it has never been effective on an important scale. The interests both of the industry and the public at large can best be conserved by cooperation in controlling production, and the widespread acceptance of this idea has paved the way for a more rational policy in the immediate future Production BY Major Districts The domestic production of the United States during 1927 amounted to 894,43.5,000 bbl. (Bureau of Mines), an increase over 1926 of approximately 128,000,000 bbl. California succeeded in maintaining its position of the past four years at 230,000,000 hbl. In 1923 with the Los Angeles

Jan 1, 1928

• As part of $850,000 granted by the House Appropriations Committee for development of manganese in the U.S., the Bureau of Mines will build a pilot plant at Artillery Peak, Ariz., for development of low grade manganese ores. • The historic Argo tunnel and mill in Idaho Springs, Colo., will reopen shortly for the mining of uranium. The Uranium Co. of America has acquired control of the tunnel and mill and 12 nearby mining properties. J. H. Rodgers and G. C. Ridland will manage the operation. •The opening of a new 4000-ton per day coal mine in Washington Co., Pa., and the reopening of another mine of the same capacity in Fayette Co. has been announced by the H. C. Frick Coke Co. They'll help meet added war demands. •A 7000 bbl per day commercial synthetic liquid fuel plant, making gasoline from natural gas at Brownsville, Texas is being operated by the Carthage Hydro-col Corp., a Texaco subsidiary. The gasoline is produced by the Hydrocol process, chemically similar to the Fischer Tropsch process, but differing mechanically in several ways. To operate the process it has been necessary to build an oxygen plant producing 95 pct pure oxygen in quantities equal to U. S. production of commercial oxygen in 1946. •Over 96 pct of the class of 1950 at Montana School of Mines are now employed,, in industry, and they're scattered from MIT to the island of Cuba., • Cobalt, heretofore almost entirely imported, will soon be produced in Idaho. The Calera Mining Co. is building a 600-ton mill in which a cobalt and copper concentrate will be obtained from Idaho ores. •Plans for mining iron ore on the Conarky Peninsula in French Guinea, (an ECA project) call for equipment purchases as follows: 8 wagon drills, electric shovel for mining, conveyor for the port, 8 trucks, wrecker, 2 tractors, as well as miscellaneous accessories and spare parts. •A low-grade lead-zinc mineralization, located east of any known ore bodies in Utah's East Tintic district, has been located by a 2000-ft wildcat USGS drill hole. * Higher-than-going rates have been authorized by the Munitions Board for its stockpile program, where domestic production of scarce materials is low or uneconomical. Payment in excess of 25 pct over the foreign price is now permitted. •A new self-centering conveyor roll, developed by Carnegie-Illinois Steel, is expected to revolutionize materials handling. It completely eliminates the necessity for sideguides to keep materials on a conveyor. See P. 1028. •Great Britain's socialized coal industry employs twice as many miners, but produces less than half as much coal as America's coal industry. last year, British mines produced 28 million fewer tons of coal than the output of the same ,mines in 1939. Absenteeism amounted to a big 12 pot of working time. • Labor market conditions have tightened on almost a country-wide scale. Only 4 out of 143 major labor market areas have a substantial surplus -- less than half the total for May. Growing scarcities of skilled labor are in evidence.

Jan 10, 1950

By R. P. Fischer

A large production of vanadium during the war helped Germany to meet her critical requirements for the ferroalloy metals. Vanadium was needed not only in the ordinary high-speed too1 steels, but in other as a substitute for chromium, nickel, and molybdenum, which were scarce. Lacking a source of vanadium ore, however, the vanadium was obtained as a by-product of the steel industry—va-nadium-bearing pig iron smelted from iron ores containing about o. I per cellt V was blown in converters to yield vanadium-rich slag, from which vanadium was recovered by chemical treatment. The production capacity obtained was said to be about 6,500,000 lb. of vanadium a Year. Although the general Processes of Preparing vanadium-rich slags as well as the recovery methods described herein are known, some of the details presented may be of interest to both the American steel industry and the vanadium producers. No adequate data on the cost of the vanadium produced in Germany are known, but it seems likely that the cost exceeds the commonly quoted domestic price of about $1.10 per pound of contained VzOa. Information on the German vanadium production was obtained by a team of geologists from the Geological Survey* United States Department of the Interior, during investigations in May and June 1945 of the German utilization of low-grade raw materials. These investigations were sponsored by the Chief of Engineers, War Department. It is a pleasure to acknowledge the aid obtained from Messrs. H. C. Smith and J. D. Dickerson, investigators assigned to the Army Ordnance section of C.I.O.S., and Mr. C. F. Park, Jr., of the Geological Survey team. The data on vanadium recovery from iron ores were obtained from the Kaiser Wilhelm Institut fiir Eisenforschung, the Hermann Goring steel plant at Watenstedt, and from notes made by other investigators at other German steel plants. Preparation of Vanadium-rich Slags Most German iron ores contain only about 0.1 per cent vanadium, or even less, but some of the scandinavian iron ores available to the German iron industry in the past contain a little more than 0.1 per cent. In general German practice of vanadium recovery, nearly all of the vanadium in the ore goes into the pig iron, which is blown in the Thomas converter, yielding a slag containing about I per cent V. This slag is remelted, the vanadium again going with the iron, which is again blown in a converter, yielding a slag that averages about 10 per cent V. This slag is treated at special chemical plants, by the process of a sodadizing roast, water leach, and acid precipitation of vanadium oxide. The Herman Goring steel plant at Watenstedt used the low-grade Salzgitter iron ores, the average composition of which is shown in Table I, column I. The acid and basic iron produced in the blast furnaces contained about 0.3 per cent V. A Thomas

Jan 1, 1948

By R. P. Fischer

A large production of vanadium during the war helped Germany to meet her critical requirements for the ferroalloy metals. Vanadium was needed not only in the ordinary high-speed too1 steels, but in other as a substitute for chromium, nickel, and molybdenum, which were scarce. Lacking a source of vanadium ore, however, the vanadium was obtained as a by-product of the steel industry—va-nadium-bearing pig iron smelted from iron ores containing about o. I per cellt V was blown in converters to yield vanadium-rich slag, from which vanadium was recovered by chemical treatment. The production capacity obtained was said to be about 6,500,000 lb. of vanadium a Year. Although the general Processes of Preparing vanadium-rich slags as well as the recovery methods described herein are known, some of the details presented may be of interest to both the American steel industry and the vanadium producers. No adequate data on the cost of the vanadium produced in Germany are known, but it seems likely that the cost exceeds the commonly quoted domestic price of about $1.10 per pound of contained VzOa. Information on the German vanadium production was obtained by a team of geologists from the Geological Survey* United States Department of the Interior, during investigations in May and June 1945 of the German utilization of low-grade raw materials. These investigations were sponsored by the Chief of Engineers, War Department. It is a pleasure to acknowledge the aid obtained from Messrs. H. C. Smith and J. D. Dickerson, investigators assigned to the Army Ordnance section of C.I.O.S., and Mr. C. F. Park, Jr., of the Geological Survey team. The data on vanadium recovery from iron ores were obtained from the Kaiser Wilhelm Institut fiir Eisenforschung, the Hermann Goring steel plant at Watenstedt, and from notes made by other investigators at other German steel plants. Preparation of Vanadium-rich Slags Most German iron ores contain only about 0.1 per cent vanadium, or even less, but some of the scandinavian iron ores available to the German iron industry in the past contain a little more than 0.1 per cent. In general German practice of vanadium recovery, nearly all of the vanadium in the ore goes into the pig iron, which is blown in the Thomas converter, yielding a slag containing about I per cent V. This slag is remelted, the vanadium again going with the iron, which is again blown in a converter, yielding a slag that averages about 10 per cent V. This slag is treated at special chemical plants, by the process of a sodadizing roast, water leach, and acid precipitation of vanadium oxide. The Herman Goring steel plant at Watenstedt used the low-grade Salzgitter iron ores, the average composition of which is shown in Table I, column I. The acid and basic iron produced in the blast furnaces contained about 0.3 per cent V. A Thomas

Jan 1, 1948

By E. E. Carpenter

(San Francisco Meeting, September, 1915) BELIEVING that the results accomplished in the mill of the Churchill Milling Co., Wonder, Nev., during the fiscal year ended Sept. 30, 1914, will be of interest, I am presenting the more prominent facts and figures showing the progress made in treating this ore with especial reference to tonnage, supplies, costs, and extractions. The mill is situated at Wonder, Nev., in the Wonder mining district, 55 miles east from Fallon, Nev., the nearest railroad point. All supplies are hauled this distance by freight teams, this method of transportation having been found more reliable for continuous service than trucks, the price paid for hauling being slightly under one cent per pound. In this mill are treated the ores of the Nevada Wonder Mining Co. ,

Jan 6, 1915

By Kendall E. Born

Production of crude oil in Tennessee during 1936 approximated 20,000 bbl., about the same as in 1935. Accurate figures are available only for the Glenmary field in southwestern Scott County and the Boone Camp, Seabolt, and Coon Hollow pools in north central Morgan County. Small amounts of oil were produced in the Poplar Cove region of eastern Fentress County, in Tinsleys Bottom along the line between Clay and Jackson Counties, and in the Lock Branch pool of northern Jackson County. The renewed interest in these three pools, which were abandoned for several years, reflects the effect of rising prices for crude oil in Tennessee. Developments in these fields were begun late in 1936 and therefore have had little cffect on the production for the year. A nurnber of small scattered wells in abandoned fields in Clay County were pumped intermittently during the year, but no production figures are available on this production. The acidizing of a number of wells in Scott and Morgan counties reported last1 year has been responsible for an increase of nearly 4000 bbl. over 1935 in this region. Results have shown, however, that the Glenmary pay (Glenmary and Coon Hollow pools) at about the top of the St. Louis limestone, responds more favorably to acid treatment than does the Boone Camp (Boone Camp and Seabolt pools) horizon in the Fort Payne formation of lower Mississippian age. This difference is probably due to the siliceous and argillaceous content of the Boone Camp pay. The only natural gas marketed off the lease in Tennessee during 1936 was in Morgan County, where approximately 10,000,000 cu. ft. were furnished the towns of Sunbright and Burrville and the immediate vicinity. The gas occurs with the oil in the Boone Camp field and small amounts were put on the line from the near-by Coon Hollow and Seabolt pools. There are 11 gas wells in the area. Development Although the presence of petroleum in Tennessee was noted more than one hundred years ago, this state has never been an important

Jan 1, 1937

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definitive life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital writeoffs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral properly possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulphur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. PRESENTVALUEOFAMINERALPROPERTY In essence the present value of a mineral property is a sum of money in today's dollars that future earnings from the property are worth. It differs

Jan 1, 1959

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital writeoffs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral properly possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulphur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. PRESENT VALUE OF A MINERAL PROPERTY In essence the present value of a mineral property is a sum of money in today's dollars that future earnings from the property are worth. It differs

Jan 1, 1964

By H. A. Wheeler

. Page History.................................533 Location .........:.....................536 Geology...............................539 Description of the Eastern Field ... :..................543 Description of the Western Field .........,...........546 Quality of the Oil ................ ,........549 The Oil Sands .,.............................549 Drilling Features'........................., . 551 Well Density...........,.'...............:. 552 Plant Equipment.......................:.'., .554 Market Features..........................555 Production Prices.........,...................557 Royalties and Rentals.........................558 Cost of Oil Leases............................'.558 Operating Expenses..........................559 Operating 'Profits...........................559 Gas Developments ........................560 Gas-Gasoline production ... :....................561 Statistics.......562 History Illinois has SO recently attained the third place in the oil production of the United States that few realize its great importance, or are aware of its highly profitable character. Since 1907 Illinois has furnished about 15 per cent. of the United States output and about 10 per cent, of the world's production. The value of the output in 1913 is estimated at $307000,000, of which about $20,000,000 is profit. The present prosperity dates from 1905, but efforts have been made since 1865 to develop production and geologists have been very sanguine as to its future for over 25 years. Had the oil operators been as confident as the geologists, the field would have been opened at least 30 years earlier. For the rich Eastern Illinois oil field is located along the La Salle anticline, that was mapped 46 years ago by Professor Worthen in the

Jan 1, 1915

By George A. Lamb

AMONG the main interesting developments in the coal market have been the changes that have taken place between the consumer groups. Important signs of these changes began to appear many years ago, but in a modest way, and were apparent only to the few fuel experts making broad statistical determinations. It is doubtful, however, that any of these experts appreciated the significance of their early findings, and perhaps none had the imagination to consider how extensive these changes might be eventually with respect to solid fuels sales and distribution. (Reference here will be principally to bituminous coal.) Railroad Fuel Major changes in coal use did become pronounced after World War II, and it did not take an expert to see what was taking place and how serious the impact was likely to be. First, was the case of the steam and diesel locomotives. The railroads had been considered the best coal customers; they were steady and large purchasers and usually paid a better price than most others. Railroad fuel provided the basic mine realization and it often was the source for operating cash during general market slumps. It was the outlet for 20 pct of the bituminous coal production, as much as 110 million tons in 1946.

Jan 2, 1957

By C. W. Phillips, R. S. Busk

With most cast metals the grain size may vary within wide limits, depending upon the conditions at the moment of freezing. These conditions are subject to control in magnesium-base alloys, by proper melting and superheating techniques, enabling production of quite uniform and fine-grained castings, almost independent of section thickness. However, such variations of grain size as do exist, in common with all metals, are reflected in corresponding changes in mechanical properties. It is the intent of this paper to present data giving the relationship between grain size and mechanical properties. Data are also included on the combined effects of grain size and micro-porosity. In addition, a short discussion of factors influencing the grain size of sand castings is included. Measurement OF Grain Size By grain size is meant the statistical distribution of volumes occupied by the individual crystallites in a metal section. Since this is almost always impossible of direct measurement, several methods of estimating and expressing the size have been evolved. Most exact methods make use of the microscope. This involves study of a single plane cut at random through the metal. What is seen in the microscopc are polygons, each the cross section of a grain. The diameters or areas of these polygons are then measured and the grain size is expressed as an average diameter, number of grains per unit area, average area per grain, or, rarely, average volume per grain. Rutherford, Abom, and Bain3 have discussed extensively the errors involved when using a plane section to estimate volume. They clearly point out that the tendency is to underestimate the true grain size because of the nature of the measurcment. The A.S.T.M. recommends that measurement be made by comparison with a standard chart, by means of Jeffries' planimetric method4 or Heyn's intercept method. The Society recommends that the notation be in terms of the number of grains per unit area (as is the grain-size number used for steel) or as an average diameter, expressed in inches or millimeters (as for copper and brass). The method of measurement used for this study was comparison with a standard chart, which has been described by P. F. George.5 The chart was constructed by photographing at Ioo diameters a uniform specimen with an average grain diameter of 0.003 in. The average diameter of this specimen was determined by numerous measurements, using both the Jeffries and Heyn methods. The other grain sizes were then obtained by appropriate enlargemcnt of the master sample. Careful comparison of the chart method with other methods on identical samples indicates that though the differences be-

Jan 1, 1945

By John J. McKetta. Jr., Louis B. Lesem, George H. Fancher

The proration of oil produced in the field frequently is based partially or entirely upon the gas-oil ratio of wells. The measurement of the gas-oil ratio is one of the more important field tests in regulatory and pro-ration work, and the test always should be conducted according to standardized methods and procedure. Obviously, the gas-oil ratio and the volume of gas produced by a well depend upon many factors but should be independent of the method of measurement and of the devices used to measure gas and oil. Consequently, the volume of gas accompanying a barrel of oil produced by a well may be measured by any reliable and accurate device or instrument. Frequently either a critical flow prover or an orifice well tester is used for this purpose, and for a particular well the same rate of flow of gas should be obtained regardless of whether a critical flow prover or an orifice well tester is employed in the test. In Texas, when using either instrument, either Capacity Table 1 or 5' is employed in making the necessary computations. If the tables are used, a discrepancy always is found whenever the two instruments are compared by extrapolation to the same conditions of flow. Clearly, Tables 1 and 5 must be at fault in some respects. The orifice well tester and the Bureau of Mines type of critical flow prover are essentially the same instrument; both devices utilize a square-edged orifice 1/8 in. in di-ameter as the primary element, and both freely discharge gas to the atmosphere. Tables for the orifice well tester' have been published in the ranges of 0 to 15 in, of water and 0 to 40 in. of mercury (Hg) differential in pressure. Coefficients for the critical flow prover have been published for differentials in pressure greater than 75 psia. An extrapolation of either differs from the other set of data as much as 18 per cent at some points. No immediately obvious reasons for the discrepancy was found, and data available from the literature were insufficient to effect reconciliation. Consequently, a series of experiments was performed to check the available data and to determine discharge coefficients for the two devices in an overlapping range of differential pressure. The correlating equation used in preparation of tables such as Tables 1 and 5' is the so-called hydraulic equation, Q = C1 vh .....(1) The tables cover orifice sizes from 1/8 through 1 1/4 in. A second set of tables, for use with greater differentials in pressure, apply only to the 3/4, 1, and 1 1/4-in. orifice plates over a pressure range of 0 to 40 in. of Hg. The correlating equation used in preparation of the tables is Q = C2 vH(29.32 + 0.3H)/G . (2) Each of these equations is valid only for the range to which it has been applied, and neither equation is valid for extrapolation. Theoretical equations for flow through an orifice are based upon assumptions of fractionless flow and an emergent jet the size of the orifice. A multiplier, C,, called the discharge coefficient, is inserted into the theoretical expression to compensate for both frictional losses and the contraction of the jet experienced in the plane of the orifice. Buckingham3 shows that C, should vary with the ratio of upstream to downstream pressure for flow of a compressible fluid at any average linear velocity through the orifice less than the velocity of sound. Work published by the National Advisory Committee for Aeronautics4 indicates that the variation continues into the so-called critical flow region until the vena contracta coincides with the plane of the orifice. The NACA work, however, does not indicate a leveling off of the coefficient. The work of the Bureau of Mines5 for the critical flow prover was based on differential pressures greater than 75 psi and indicates that the discharge coefficient, Cd, is constant in this region at a value of about 0.86.

Jan 1, 1958

By G. R. Fitterer

By means of the C-Sic thermocouple1, liquid metal temperatures have been found to vary much more than was previously supposed, and fortunately these variations can be directly associated with some of our former knowledge which combined to form the "art" of liquid-metal manipulation. Commercial Development of This Device Several types of installations are operating in different plants. There are so many variables in steel plants in regard to operation, procedure, arrangement of pouring platforms, ladles, etc., that most of the installations now in service in this country are "tailor-made"; nevertheless, it is felt that satisfactory gains have been made, inasmuch as each installation has indicated some effect of temperature upon the metallurgical operation, and has pointed the way toward technical and financial benefits. In most cases, it has been necessary to accumulate the temperature data until sufficient metallurgical information is available for the drawing of conclusions. When mechanical difficulties have been eliminated, a distinct correlation of these factors has been obtained. The installations now in service are used for the determination of temperatures in the basic open-hearth furnace prior to tapping and in ladles from both acid and basic furnaces prior to pouring. Some of the installations are in shops making the higher priced steels; others are in "tonnage shops." The errors of human element, smoke screens and emissivity corrections connected with the use of the optical pyrometer do not affect the C-SiC thermocouple readings. The accuracy of the C-Sic thermocouple and the temperatures measured are discussed later in this paper. Temperature Variations or Liquid Pig Iron One well-known discussion between the blast-furnace and open-hearth (or Bessemer) departments has occurred intermittently for more

Jan 1, 1936