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By W. H. Bassett

THE ease and value of the application of spectrum analysis to industrial chemistry appears to be appreciated in few of the large works laboratories of this country. For 8 years, this analysis has been of great value to the authors in both analytical and metallurgical work. To the analyst the complete qualitative analysis of an unknown alloy, revealed by a spectrogram, is a sure basis for the planning of the most direct and rapid method of attack. As the determination of each element proceeds, the purity of precipitates may be checked as often as desired. The spectrograph proves invaluable in the recognition of impurities, the separation of which would entail a lengthy and difficult procedure, or when the weight of an unknown is less than is necessary to complete the desired determinations. A few hundredths of a gram will usually suffice for spectrographic analysis. In the separation of the rarer elements, the spectrograph will show, with precision, the point where each step has been successful. In zinc of certain classes, indium, gallium, and germanium have been isolated in this way; the presence of antimony in lake coppers has been proved; and bismuth has been detected in zinc and in alloys where the presence of a few thousandths of a per cent. would be harmful. An antimony precipitate in a delicate determination may contain a considerable proportion of tin or arsenic, both of which will be revealed. The spectrograph is consequently important to the metallurgist as well as to the analyst.

Jan 2, 1922

The income of the Institute is derived from dues, subscriptions to MINING AND METALLURGY and sale of publications. These sources are fortunately supplemented by the interest from invested funds now amounting to over $500,000, a considerable portion constituting endowments for especial purposes. Aside from the medal funds the principal endowments are the James Douglas Fund for support of the Library, the Rocky Mountain Fund and the Seeley W. Mudd Memorial Fund. The income from the two last named is available for the support of research and a variety of other purposes. It is allocated by the Board of Directors upon recommendation of standing committees in each case. An active effort is being made to increase the endowments of the Institute, it being felt that unusual opportunities exist for research and public and professional service through the organization and at a minimum of expense. J. V. W. Reynders is chairman of the Endowment Committee.

Jan 1, 1923

By Sherwin F. Kelly

Twenty five years of exploration has shown that the "geophysical dollar" is worth $1780 in the Orange Free State, $1488 on the Witwatersrand, $85 in Sweden, $28,000 in the Transvaal and $3500 or more in the U.S.

Jan 6, 1951

CYRIL STANLEY SMITH, Chairman CARL E. SWARTZ, Past-Chairman ARTHUR PHILLIPS, Vice-Chairman E. E. SCHUMACHER, Vice-Chairman H. A. MALONEY, Treasurer FRANK. T. SISCO, Secretary 9 West 39th Street, New York, N. 1. Executive Committee 1944 1945 WILLIAM C. ELLIS C. S. BARRETT ALAN MORRIS T. A. WRIGHT KENT R. VAN HORN L. L. WYMAN

Jan 1, 1943

By C. W. Spencer, J. T. Smith

GRAIN-BOUNDARY surfaces are penetrated by a liquid phase when the liquid-solid interfacial tension is less than one-half the tension of the grain-boundary surfaces. Grain growth may occur in the presence of this liquid phase. burke1 reports that grain growth of this nature has been observed in two-phase ceramic systems. He suggests that the presence of a grain-boundary liquid may accelerate or decelerate the

Jan 1, 1963

By H. Jehn

Like some other Pt-group metals palladium shows a low but considerable solid solubility of oxygen, which was found already from oxidation studies. The oxygen solid solubility of palladium in equilibrium with gaseous oxygen has been investigated at 900 - 1300 °C in oxygen (665 mbar) and air by gassing and analyzing polycrystalline samples. The 0-concentrations range from 40 to 90 ppm and decrease with rising temperature. The isobaric solubility can be represented by the least-squares fit log c0 = 0.5 log p02- 0.32 + 920/T (c0 in wt. ppm, p02 in mbar, T in K). The thermodynamic data of the exothermic solution reaction are calculated to ?H°= -17.6 kJ?mol-1 and ?S° -76.5 J?mol ? K-1. The behaviour of palladium in an oxygen atmosphere is characterized by the simultaneous reactions of the solution of oxygen in the metal and the formation and evaporation of volatile oxides besides the pure metal evaporation.

Jan 1, 1984

By John Dilworth

THE word "development," as used in connection with .mining, is a rather general term and in most instances must be qualified or explained before the exact thought in the mind of the user is made clear. For instance, by the development of a mining district is often meant its entire facilities of mineral production, such as railroads, towns, mine plants, etc. In speaking of the development of a property its prospecting by test pits or diamond drill borings may be referred to; or it may be the mines, strip pits or quarries from which the coal, ore or rock is won. But, as a rule, when the development of an individual mine is spoken of the idea in mind is the system of underground workings by means of which the mineral is recovered and transported to the surface. It is this character f development that is considered in this paper. The discussion will be confined to the ordinary room-and-pillar, system of mining. practically horizontal coal seams that is used in most bituminous coal mines in this country, and to only two phases of this subject; viz., what is properly included under the head of "Development"' as it appears on the books of a coal company or the inventories of an examining engineer, and how its "value" should be determined -by the accountant or engineer. No absolute rule or definite agreement covers these points, yet these questions are far more than academic. Development is often an important part of a mining company's assets, affecting the amount of its invested capital (and hence its rate of taxation under present Federal income tax laws) as well as the value of its total assets and the amounts chargeable to cost of coal and to depreciation.

Jan 7, 1921

By J. R. Stone, J. T. Roy

ASARC09s continuous tapper for lead blast furnace is described. Its use throughout the company's plants has resulted in higher production rates, lower labor costs, and better working conditions. It has also permitted wide latitude in blast pressures, as well as in charge and slag compositions. The practice of tapping a lead blast furnace has remained essentially unchanged for many years. In principle, it is a batch operation discharging the products from the continuous smelting of lead-bearing materials. As such, it imposes certain restrictions on the proper functioning of the smelting operation. First, it calls for a highly developed sense of timing, and a considerable amount of physical effort on the part of the operator. Dirty and hot working conditions, as well as the hazards of flying metal and slag, usually prevail. These conditions have resulted in higher labor costs, both in rate and in amount. Labor turnover has also been high. Secondly, rigid control of mechanical and metallurgical factors must be maintained. Frequent oxygen lancing of the tap hole is needed to permit tapping, thereby increasing operating costs. Rapid increases in smelting rate, plugged tap holes, or forgetfulness on the part of the operator may permit the molten material to rise above the tuyeies and freeze the furnace. Also, the operator will often blow out the tap hole after draining, filling the area with fume. Composition of charge also vitally affects the tapping. The type of lead-bearing material being smelted will naturally affect the smelting rate, and thus the frequency of tapping. The amounts and types of fluxing materials, which determine the ultimate fluidity of the slag, must be regidly controlled. Finally, the batch tapping of a continuous smelting operation of this type appears to be wrong in principle. The molten material drains into the crucible at the bottom of the furnace where it starts cooling immediately and continues to cool until tapped out. While keeping the lead molten is no particular problem, maintaining a fluid slag at all times is often difficult, and sometimes impossible. These factors all point to the desirability of a method for the continuous tapping of a lead blast furnace. The expected advantages would be more desirable working conditions, lower labor costs, increased production, and a much wider latitude in both blast pressure and charge composition. CONTINUOUS TAPPING Historical. A number of devices, e.g., mechanical tappers, siphons, and lead wells, have been tried in the past in attempting to effect continuous tapping. None proved to be entirely satisfactory for tapping lead and slag simultaneously. It was not until 1955, however, that ASARCO designed and put into operation a successful tapping unit at its East Helena, Mont. lead smelter. This unit is described in detail in U.S. Patent NO. 2,890,951. Continuous Tapping Unit—See Figs. 1 and 2. Fig. 1 is a schematic drawing of the unit in place, showing front and side views. The component parts are identified in the caption. Fig. 2 is an actual photograph, front view, of the tapping unit attached to the base of the blast furnace. Operation. The operation of the tapping unit is quite simple. Essentially it consists of a narrow tapping bay surrounding the furnace tap hole, with a deep notch in the front wall. When the blast furnace is started this notch is open down to the level of the tap hole. Starting the furnace may be accomplished in several ways but the most satisfactory method is to plug the tap hole with clay, permitting metal and slag to build up inside the furnace. Before the liquid reaches the tuyeres, the plug is removed and the furnace is drained to the settler. The blast is then stopped momentarily while the notch in the front wall of the tapping bay is dammed with chrome brick and plastic chrome ore. The blast is again started, and the height of the dam is adjusted so that the liquid in the bay will counterbalance the internal pressure of the furnace. When the desired level is reached the slag and metal will overflow to the settler. It should be noted that the molten material ,is not siphoned from the furnace and that the metal 'acts as a liquid valve controlling the flow of slag through the tap hole. During normal operations the tapping bay is filled primarily with lead, covered with a thin layer of slag. Thus, the heavier lead plays the major role in compensating for variations in furnace pressures. Due to the high specific gravity of lead, changes in the liquid level in the tapping bay will never exceed a few inches. For this reason it is seldom necessary to change the height of the dam due to minor variations in operating conditions. Some turbulence of the liquid in the bay is essential at all times. This indicates that the level of the

Jan 1, 1963

By David B. Burrows, Francis R. Conley

INTRODUCTION A prerequisite to the evaluation and management of oil properties is accurate information derived from the analysis of core samples; but reliable data, such as porosity and permeability, can result only if all oil and water have been removed from the core samples analyzed. The most common method of core cleaning used to date has been Soxhlet extraction—a somewhat static technique, which depends upon the slow diffusion of hot solvent through the core sample. Soxhlet extraction performs satisfactorily only with highly permeable samples and at best requires long cleaning periods. The centrifuge method was developed in 1951 by Continental Oil Co. to overcome the inefficiencies inherent in the Soxhlet method. The new method is basically an operation in which hot solvents are caused to flow through the samples under the influence of centrifugal force. The centrifuge unit has proved so successful that samples which formerly required days for partial extraction can now be completely cleaned in approximately one hour. The original idea was conceived in 1950 by Elmer S. Messer, whose early experiments consisted of flowing solvent over sandstone samples suspended in a revolving basket and driven by a vertically mounted vacuum cleaner motor. Results were so outstanding that more permanent units were constructed. A modified model using this basic design was recently built by Core Laboratories, Inc., and is now used regularly in their operations. DESIGN Fig. 1 shows a photograph of the two extractors routinely used to clean small core plugs in the Production Research Div. of Continental Oil Co.'s Ponca City laboratories. For illustrative purposes, the basket from one of the units has been removed, and because both extrac- tors are of identical design only one is described in the following discussion. Each extractor unit consists of a centrifuge and a solvent still. The core basket of the centrifuge is made of mild cold rolled steel 7 1/2 in. in diameter and 1 1/8 in. deep. The basket holds 18 1-in. samples (cubical or cylindrical) and is attached directly to a cone fitted to the shaft of the motor. Both the outer rim and the hollow hub of the basket contain perforations for the passage of solvent and extract. The solvent is delivered to the perforations by means of a copper tube inserted into the hollow hub. The motor is a vertical tool post grinder motor; (115 v, 5.6 amp, 0-60 cycles, AC-DC, rated at 1/3 hp). It has a rated speed of 10,000 rpm under full load and 15,000 rpm with no load. Variation of speed is obtained by the use of a variable transformer. The solvent still was constructed from one end of a stainless steel oxygen bottle by inserting a heating element, sight glass, and piping as shown on the schematic diagram, Fig. 2. The heater used was a three-position, 1,000 w, 115-v, immersion type. Intermittent flow of solvent to the centrifuge is obtained by means of a siphon bottle inserted between the condenser and the centrifuge.

Jan 1, 1957

By Khosrow Bakhtar

A series of nineteen shear tests were performed on fractures 1 m2 in area, generated in blocks of sandstone, granite, tuff, hydro- stone and concrete. The tests were conducted under quasi-static and dynamic loading conditions. A vertical stress assisted fracturing technique was developed to create the fractures through the large test blocks. Prior to testing, the fractured surface of each block was characterized using the Barton JRC-JCS concept. The results of characterization were used to generate the peak strength envelope for each fractured surface. Attempts were made to model the stress path based on the classical transformation equations which assumes a theoretical plane, elastic isotropic properties, and therefore no slip. However, this approach gave rise to a stress path passing above the strength envelope which is clearly unacceptable. The results of the experimental investigations indicated that actual stress path is affected by the dilatancy due to fracture roughness, as well as by the side friction imposed by the boundary conditions. By introducing the corrections due to the dilation and boundary conditions into the stress transformation equation, the fully corrected stress paths for predicting the strength of fractured blocks were obtained.

Jan 1, 1984

By John C. Calhoun, Frank T. Bethel

The application of a method for analyzing pressure build-up curves to determine the effective permeability in the Spraberry is presented. Sixteen upper Spraberry wells of the Driver area arc analyzed and show variations in the in-place effective permeability of 2 to 183 md. Since these value- are much larger than the .5 md. or less reported for the matrix rock. a large part of the vertical fractures noted in Spraberry cores- must be considered native to the formation. The effectiveness of the well fracture treatment in connecting the well bore to the native fracture system is analyzed by comparison of the effective permeability as determined from the PI test to that obtained from a pressure build-up curve. These results show that the fracture treatment is sufficiently effective in connecting tile well bore to the native fractrure system to yield a flow capacity within about 50 per cent of that dictated by the native fracture system About two-thirds of the wells show some degree of local blockage. INTRODUCTION Fractured reservoirs have been known in the past.' However, during the past two years the Spraberry formation has directed the attention of the petroleum industry to a study of the performance of a fractured reservoir. The large variation in the number of fractures noted in Spraberry cores rile large variation in the producing ability of offset well.. the dramatic effect of well treatment on well ,productivity. the unknown quantity of oil stored in the fractures and matrix rock. and the unknown oil to be recovered were part of the initial Spraberry puzzle. In this type reservoir where the well treatment is an important factor in determining the productivity. it i- particularly desirable to determine the in-place flow capacity of the drainage area at distance* far removed from the well bore. This value. when compared to the flow capacity obtained from a PI measurement, will show the effectiveness of the well treatment (completion. fracture treatment, acidization. etc. in establishing a flow capacity in the vicinity of the well bore equal to that in the more remote region. The object of this paper i.; to show the application of a method of pressure build-up analysis for this purpose in studying the Upper Spraberry formation in the Driver area. STATEMENT OF THEORY The theoretical basis for the application of a pressure buildup curve to show the effective permeability of the rock at distances far removed from the well bore has been presented in detail in earlier publications.', in the previous development it was shown that pressure build-up behavior of all wells could be reduced to the same dimensionless build-up curve of Fig. 1. This mean.; that the bottom hole pressure of a well after hut-in will rise in such a manner that a plot of pressure against the logaritllm of time yields a straight line. The slope of this linp can be rlzed to calculate the effective permeability as expressed by the following equation: where: effective oil permeability md oil production rate prior to shnt in. STB/I) In practice the flow which occurs into the well bore after shut in and the variation in flow capacity in the immediate vicinity of the well bore usually cause the early part of the build-up curve to be unsatisfactory in the determination of permeability. In general the effect of these factors on the straight line section will become negligible after a time when the of the following equation is equal to 0.1. and the preferred section Of the curve for use in defining the slope lie-

Jan 1, 1953

Preheating Feature of Leyner Oil Furnace for Heating Drill Steel The No. 3 Leyner oil-burning furnace, used for heating drill steel, is now made with a preheating chamber. By this addition it is claimed that the heating capacity and, effeciency of the furnace are increased about 50 per cent. This preheater is a section which fits between the body and cover of the furnace of the old design. It may be attached to an old furnace by simply changing a few bolts. Referring to the illustration, it will be seen that the lower chamber is used for the final heating and the upper one for preheating. The type of burner now furnished with this furnace is suitable for either high- or low-pressure air. It hats merely to be throttled for high pressures and when this is done, it, is as efficient as burners designed especially for high pressures and eliminates the noise common to such burners. This furnace burns petroleum or any of its oils, such a, gasoline, kerosene, distillate, etc. Oil heating has many advantages. The steel cannot be injured by absorbing injurious elements such as sulphur, phosphorus or other impurities which :ire present in nearly all coals, nor from unequal heating since the flame imparts a uniform temperature; further, o lie steel is in full view of the operator at all times.

Jan 3, 1916

By D. F. Lascelles

D. F. Lascelles (School of Earth Sciences, MacQuarie University, North Ryde, N. S. W., Australia)- The paper contains many misconceptions commonly held by both geologists and soil scientists with regard to soil processes. The analogy between supergene copper enrichment and "nickel laterite" deposits is quite apt and the use of nomenclature from the former in describing supergene nickel deposits is justified. However, care must be exercised with regard to the notable differences in

Jan 1, 1974

By K. S. Seljesater

SINCE the development of dispersion-hardenable lead-antimony alloys1 in the laboratories of the Western Electric Co., Inc., studies have been made of the effect of various third constituents on these alloys.2 This paper covers a study of the effect of small amounts of arsenic. This element is important since it occurs as an impurity in many commercial antimonial leads and the results obtained are particularly interesting as indicating a class of addition agents which exert a stabilizing effect on dispersion-hardened alloys. EXPERIMENTAL In order to-study the effect ,of increasing amounts of arsenic, a series of alloys were made up containing 1 per cent. antimony, and arsenic varying from 0. to 0.10 per cent., the balance Doe Run lead (99.997 per FIG. 1..-CHANGE OF MICRO-BRINELL HARDNESS WITH TIME OF 1 PER CENT. LEAD-ANTIMONY ALLOY. cent. lead). The alloys were cast into bars 1 ½ in. wide by ¾ in. thick and cold-rolled to about 1/8 in. thickness. Three samples of each composition were annealed 1 hr. at 225° C. and quenched in water. One set was aged at room temperature, one at 50° C., and the third at 100° C., the

Jan 1, 1929

By H. E. Strauss

The time-to-fracture test has been applied to pure platinum and to two alloys of platinum under the special conditions of small cross-sectional area of the specimens and of a test temperature above the annealing temperature. While the results are similar in character to those secured with large specimens of steel at temperatures below the annealing temperatures, two differences are noted: (I) an upward inflection in the curves for log stress vs. log time for the alloys, and (2) a sharp break in the curve for log stress vs. log time for pure platinum when single crystals filled the wire. The experiments showed that: (I) platinum and 10 per cent rhodium-platinum maintained their strengths at IIOO°C. better than did to per cent iridium-platinum, and (2) the rhodium-platinum after a time exceeded the iridium-platinum in strength at IIOO°C. Platinum alloys in their service at high temperatures encounter conditions somewhat similar to those that exist in the usual form of the "time-to-fracture"l test with steel. This paper is intended primarily to present results obtained by a "time-to-fracture" test under conditions approximating actual service for platinum (at the temperature IIOO°C. under oxidizing conditions) with three materials, pure platinum (99.99 per cent), a platinum alloy with 10 per cent iridium, and a platinum alloy with 10 per cent rhodium. The experimental procedure differed from that previously used in this type of measurement in that the samples were of small diameter (0.010 in.), were fully annealed, and were tested at a temperature definitely above their annealing points (600°C., IOOO°C. and 1050°C., respectively, for 60 per cent cold reduction and 15 min. heating time2,3). The experimental arrangement was similar to that previously described,' using as heating unit a small, horizontal, platinum-wound furnace, ½ by 12 in., maintained at constant temperature by an automatic controller. The samples were 0.010-in. wires, which had been annealed at 1200°C. by drawing them slowly through the furnace. The time-to-fracture was measured electrically. Elongation was not determined because of the difficulties inherent in the experimental arrangement. Life—that is, the time-to-fracture—was considered the important property in these first tests. No attempt was made to measure the reduction in area, but the types of fracture were noted qualitatively; in the text they are referred to as (I) the normal, plastic, or necked fracture, (2) the knife-edge fracture, and (3) the brittle or intercrystalline fratture with small reduction of area. Results for different constant applied stresses are plotted in Fig. I. In all cases at least two trials were made for each stress, although they cannot always be indicated separately on the curves. The breaking Stresses drop very rapidly to a small frat-286

Jan 1, 1943

By H. E. Strauss

The time-to-fracture test has been applied to pure platinum and to two alloys of platinum under the special conditions of small cross-sectional area of the specimens and of a test temperature above the annealing temperature. While the results are similar in character to those secured with large specimens of steel at temperatures below the annealing temperatures, two differences are noted: (I) an upward inflection in the curves for log stress vs. log time for the alloys, and (2) a sharp break in the curve for log stress vs. log time for pure platinum when single crystals filled the wire. The experiments showed that: (I) platinum and 10 per cent rhodium-platinum maintained their strengths at IIOO°C. better than did to per cent iridium-platinum, and (2) the rhodium-platinum after a time exceeded the iridium-platinum in strength at IIOO°C. Platinum alloys in their service at high temperatures encounter conditions somewhat similar to those that exist in the usual form of the "time-to-fracture"l test with steel. This paper is intended primarily to present results obtained by a "time-to-fracture" test under conditions approximating actual service for platinum (at the temperature IIOO°C. under oxidizing conditions) with three materials, pure platinum (99.99 per cent), a platinum alloy with 10 per cent iridium, and a platinum alloy with 10 per cent rhodium. The experimental procedure differed from that previously used in this type of measurement in that the samples were of small diameter (0.010 in.), were fully annealed, and were tested at a temperature definitely above their annealing points (600°C., IOOO°C. and 1050°C., respectively, for 60 per cent cold reduction and 15 min. heating time2,3). The experimental arrangement was similar to that previously described,' using as heating unit a small, horizontal, platinum-wound furnace, ½ by 12 in., maintained at constant temperature by an automatic controller. The samples were 0.010-in. wires, which had been annealed at 1200°C. by drawing them slowly through the furnace. The time-to-fracture was measured electrically. Elongation was not determined because of the difficulties inherent in the experimental arrangement. Life—that is, the time-to-fracture—was considered the important property in these first tests. No attempt was made to measure the reduction in area, but the types of fracture were noted qualitatively; in the text they are referred to as (I) the normal, plastic, or necked fracture, (2) the knife-edge fracture, and (3) the brittle or intercrystalline fratture with small reduction of area. Results for different constant applied stresses are plotted in Fig. I. In all cases at least two trials were made for each stress, although they cannot always be indicated separately on the curves. The breaking Stresses drop very rapidly to a small frat-286

Jan 1, 1943

Executive JOHN M. LOVEJOY, Chairman ERLE V. DAVELER G. B. WATERHOUSE WISER JUDSON WILLIAM WRAITH J. V. W. REYNDERS, Consultant Finance HENRY KRUM, Chairman PAUL D. MERICA R. M. ROOSEVELT H. G. MOULTON, Consultant Admissions. RALPH M. ROOSEVELT, Chairman GEORGE D. BARRON, Vice-chairman JOHN L. CHRISTI PHILIP KRAFT W. A. SINSHEIMER

Jan 1, 1936

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By John D. Morgan, Sylvain J. Pirson

An instantaneous and continuous analysis of a mineral suspension should be of great value in controlling various mineral preparation processes. Described herein is a method of analysis based on the use of high-frequency alternating current, which, under certain restrictive conditions, could be of use. Theoretical Considerations In a suspension of conductive minerals, the electrical effect primarily responsible for the variations in electric conductivity is the capacitance. In Fig Ia, let an alternating voltage E be applied across two electrodes F and F', between which are two rows (S and T) of mineral particles, all of approximately the same size, immersed in a fluid. Let the number of rows of particles between the electrodes be R and the number of particles in each row be N. If A is the area of a particle, D is the distance separating two particles, and k is a constant depending on the fluid, the capacity, CO, of the particle system will be given by: KRA C°= ND Referring now to Fig Ib, let R, the number of rows, be held constant, but let N, the number of particles in each row (S and T), be increased X-fold. The capacity, C1, of

Jan 1, 1949

By W. E. Stiles

A method is presented for predicting the performance of water flooding operations in depleted, or nearly depleted, petroleum reservoirs. The method makes use of permeability variations and the vertical distribution of productive capacity. From these two parameters can be calculated the produced water cut versus the oil recovery. Derivations of the mathematical analogy is shown and sample calculations and curves of prediction are presented. Comparison is made of the predicted and actual performance of a typical 5-spot in an Illinois water flood. INTRODUCTION The use of water as a flooding medium in both depleted and "flush" oil reservoirs is gaining greater recognition and acceptance. Many of the shallower fields, depleted by primary production, have been and are being subjected to water injection in order to obtain some part of the large volume of oil remaining after primary production. Some of the earlier water flood installation proved highly discouraging and the value of water flooding was often questioned. Many of these earlier floods were haphazardly selected and developed as little was known of the physical characteristics and contents of the producing formations. The prior evaluation of the flood performance was impossible. During the past decade the development of the required reservoir engineering tools-—core analysis, reservoir fluid analysis, electric logs, fluid flow formulae, etc.—has allowed the engineer to construct and apply the methods which are presently being used to evaluate the economic and mechanical susceptibility of a reservoir to flooding. This discussion will present a method for taking into account the effect of permeability variations in predicting the performance of water floods in depleted reservoirs. PERMEABILITY AND CAPACITY DISTRIBUTION It is generally agreed by most investigators that in a single phase system fluid will flow in a porous and permeable medium in proportion to the permeability of the medium. Producing formations are usually highly irregular in permeability, both vertically and horizontally. However, zones of higher or lower permeability are often found to exhibit lateral continuity. Thus, while structurally comparable stringers in adjacent wells may differ several fold in permeability values, they usually bear resemblance as being part of a general continuous higher or lower permeability section. It is generally agreed that where such stratification of permeability exists, injected water sweeps first the zones of higher permeability, and it is in these zones that "break-through" first occurs in the producing well. It is a basic assurnption of the presently described method that penetration of a water front follows the individual permeability variations as if such variations were continuous from input to producing well. This is admittedly not rigorously true, but can be justified as making possible a simplifying mathematical approach to an otherwise extremely complicated three dimensional flow problem. As a basis for study of the lateral flow of fluids in formations of irregular permeability, the irregularities may be conveniently represented by a permeability distribution curve and a capacity distribution curve. In obtaining these curves, the permeability values, regardless of their structural position in the formation, are rearranged in order of decreasing permeability. If these permeability values so arranged are plotted against the cumulative thickness, a permeability distribu- tion curve is obtained. This curve may then be likened to a "smoothed" permeability profile of the formation. In making comparison between different distribution curves it is convenient to state the permeabilities in terms of the ratio of the actual permeability values to the average permeability of the formation. These ratios termed "dimensionless permeabilities", are used in this paper rather than the permeabilities in terms of millidarcys. The capacity distribution curve is a lot of the cumulative capacity (starting with the highest permeabilities) versus the cumulative thickness. The capacity and thickness are given as fractions of the total capacity and thickness. Mathematically, the capacity distribution is the intergration of the permeability distribution curve. In practice it is convenient to first obtain the capacity distribution curve and derive from it a smoothed dimen-sionaless permeability curve. The method of obtaining the capacity distribution curve is illustrated in the successive column of Table 1, in which capacity and thickness are derived as fractions of their respective totals. If only a small number of permeability values are available, it is generally desirable to smooth the resultant curve. This has been done to give the capacity distribution curve shown in Figure 1. The differentiation of the capacity distribution curve to obtain the permeability distribution curve is shown in Table 2. Here, the capacity values are read from the smoothed curve at intervals of cumulative thickness, and the increments of capacity are divided by the increments of thickness to obtain the dimensionless permeability, K. Due to this stepwise procedure of calculation these premeability values must be plotted at the midpoints of the successive increments of thickness. The curve so obtained from these data is shown in Figure 1. The total area under the K' curve is equal to unity.

Jan 1, 1949