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By S. C. Miller, R. D. Carter, H. G. Riley

A merhod based on theoretical considerations is presented for estimating srabilized performance of gas wells from data obtained from short-term flow tests. Calculated results are presented for II gas wells evaluated with four-to five-hour flow tests. For seven wells on which comparison war available, satisfactory agreement between measured and calculated performance was obfained. Although the final results are favorable, diflerences in flow capacity k,h obtained from flow tests conducted at different rates were observed. This inconsistency did not seriously affect the calculated results in the test wells. INTRODUCTION In order to negotiate the sale of gas from newly drilled gas wells and to plan otherwise for the orderly exploitation of gas reserves, it is necessary to predict the long-term withdrawal rates physically possible for each well. Since low permeability gas wells do not stabilize except after a lengthy period of flow, the operator is unable, without wasting large amounts of gas, to measure directly the stabilized performance prior to contracting for sale of the gas and connecting the well to a pipeline. This problem is not new, but is one which has recently received considerable attention because of the rising importance of natural gas in the economy and new emphasis on the development of gas reserves. Thus, a method is needed for estimating stabilized performance from information obtained from short-flow tests in which stabilized flow is not attained. Such short tests would be suitable for wells not connected to a pipeline since the tests require only small amounts of time, labor and production of gas. Other requirements of such a method are short calculation time and use of a model of the gas well and its reservoir drainage area which is as consistent as possible with present theoretical, experimental and field knowledge. The method presented herein was developed in an effort to meet these requirements. It has been named the "two-Row method". In addition to the section on the evelopment and description of the method, a description of field application of the method and a discussion of well test results are in- cluded. Finally, there is a section on an additional consideration prompted by some of the test results. The Appendix contains certain details of the derivation of the two-flow method and a sample calculation for Test Well 1. MATHEMATICAL DEVELOPMENT AND DESCRIPTION OF THE METHOD The method is based upon the following assumptions: (1) The system can be described as a finite cylindrical gas reservoir produced by a single cylindrical well located at the center of the reservoir. Flow is strictly radial. (2) Flow obeys Darcy's law except very near the well where a quadratic flow law is assumed. (3) The system is also characterized by a laminar flow skin factor. The use of a quadratic or turbulent flow term is more fully justified in Refs. 1 and 2. When such a system is opened at the wellbore to constant rate flow from an initial condition of uniform pressure distribution, the radius or drainage quickly passes through the non-Darcy flow and "skin effect" region imrnediately surrounding the well. After the drainage radius or "transient" has passed beyond this region and before it reaches the external boundary, drawdown can be expressed by'." After the drainage radius reaches the external boundary, stabilized flow exists and drawdown is given by'," Eqs. 1 and 2 form the basis for the method. The validity of these equations will now be examined in the light of some well test data previously available. It has been found by actual measurements on gas wells that the relationship between drawdown and flow rate, that is the performance curve, is closely approximated by' Eq. 3 is a straight line on log-log graph paper. Eq. 2 and, for any lixed value of time, Eq. 1 plot as a curve which is slightly concave upward on log-log graph

Jan 1, 1890

By D. B. Myers

The consistent upward trend in crude oil production prevailing in California throughout the greater part of 1929, was effectively checked in November by a curtailment program instituted by mutual agreement between operators in four of the major fields. This program artificially reduced daily production to approximately the same daily figure as prevailed in December, 1928. The large amount of deep drilling during the later part of 1928 and during 1929 has established a potential, however, which is far in excess of refinery needs in the state. Low prices for crude oil which prevailed in California during 1928 continued during 1929. General curtailment continued in the older fields in San Joaquin Valley. The number of wildcat and exploratory wells drilled throughout California was materially increased, but no major field was discovered unless the recent bringing in of the Ohio Oil Co.'s Recreation Gun Club No. 1 well, near Venice in Los Angeles Basin, during the closing days of 1929 results in such a field. Significant developments during 1929 were: (1) The discovery of three deeper zones in the Santa Fe Springs field known as the O'Connell, Clarke, and Hathaway; (2) Kettleman Hills development and unanimous agreement to restrict production; (3) developments along the Santa Barbara Coast and the drilling of tideland permits; (4) extensions of some of the older producing areas in the San Joaquin Valley; (5) the Lawndale and Santa Barbara Mesa structures, the former discovered in Los Angeles Basin in 1928, the latter in Santa Barbara County in 1929, proved to be failures; (6) intensive exploration throughout the state and the drilling of a large number of deep wildcat wells; (7) discovery of oil by the Ohio Oil Co. in the Los Angeles Basin at Venice; (8) Long Beach and Ventura Avenue fields maintained steady production throughout the year. As a natural sequence to the discovery of high-gravity oil fields in Kettleman Hills and at Elwood in 1928, a tremendous amount of exploratory work was done in 1929 in areas underlain by rocks of lower Miocene age, particularly along the Santa Barbara Coast area, the San Joaquin Valley, and the Salinas Valley, where the Vaqueros and Temblor sands were considered to hold possibilities for production.

Jan 1, 1930

By J. M. Snook, F. C. Langenberg

FOR a better understanding of the melting and refining processes, the oxygen content of the steel bath should be determined. The oxygen content influences many process and product variables such as the efficiency of alloy recoveries, the ingot structure (through reaction with carbon in the steel), certain reaction rates, cleanliness (formation of indigenous oxide inclusions), and mechanical properties. Many methods of sampling liquid steel for oxygen have been devised. These methods can be divided into two main groups: 1) taking samples directly in the furnace or ladle;'-'0 2) removing the metal from the furnace or ladle in a sampling spoon and pouring it into a mold, or drawing the metal from the spoon into a sample holder.11-l4 The advantages and disadvantages of the two general sampling methods are presented in Table I. The bomb-sampling technique described by Huff, Bailey, and Richards8 has been used by the Crucible Steel Co. in certain research projects where oxygen contents were needed. It was recognized that a localized boiling condition could result when the mold is introduced into the steel bath, although the work of Gilbert and Bailey9 seems to indicate that the carbon boil occurring in the bomb-sampler cavity has a negligible effect on the oxygen content. In order to confirm the reported negligible effect of a carbon boil, additional work was done with adaptations of the conventional bomb sampler. The methods used are shown in Fig. 1 and are as follows: 1) Type A: aluminum wire (0.125-in. diam) coil in cavity; steel cap over mouth 2) Type B: aluminum cup in cavity; aluminum cap over mouth, 3) Type C: aluminum cup in cavity; steel cap over mouth, 4) Type D: fine aluminum wire (0.013-in. diam) in cavity; steel cap over mouth. The amount of aluminum wire in the Type A and D samples varied from 0.8 to 1.2 pct of the sample weight. The aluminum cups averaged 2.0 pct of the sample weight; the latter were used to ensure that the steel contacting the walls of the bomb cavity was fully killed. Samples were taken from plain carbon heats made in open-hearth furnaces. This grade of steel before silicon additions is essentially an Fe-C alloy and the effects of other alloying elements on the oxygen activity can be neglected. The results of sampling with the bomb samplers is shown in Fig. 2 where the percent oxygen is plotted against the percent carbon on log-log paper. Spoon sample results on the same grade of steel where the sample was killed in the spoon are shown in Fig. 3. The oxygen contents were determined by the vacuum fusion method. A comparison of Figs. 2 and 3 shows that the oxygen concentrations obtained with the spoon-sampling method (metal killed in the spoon after slag removed

Jan 1, 1960

By A. R. T. Denues

LIQUID-OXYGEN explosives commonly consist of a carbonaceous absorbent enclosed in a canvas wrapper and soaked with a liquid containing more than 90 mol per cent of oxygen. Investigation of these explosives in this country was initiated in 1917 by George S. Rice, then Chief Mining Engineer of the Bureau of Mines. The early development is summarized in two papers.1,2 Their characteristics, advantages and disadvantages were considered in a recent bulletin of the Bureau of Mines.,3 Other publications of this Bureau4, 5 treat the technology of these explosives and contain adequate references to pertinent literature. These investigations defined the properties of liquid-oxygen explosives and improved them greatly; however, an outstanding disadvantage is their high inflammability, a property of critical practical importance. These explosives as hitherto prepared are easily inflamed; the combustion resulting from an accidental ignition is particularly dangerous because of the ease with which it passes into detonation. For this reason the Bureau of Mines undertook a cooperative investigation, which has resulted in the development of fire-retardant treatment for the minimization or elimination of this hazard without materially impairing the explosive properties, including the ease of detonation. This presentation will offer a general description of the investigation and the outstanding results. Further phases will appear in subsequent short papers, and the entire investigation including the results of detailed experiments will be available in a forthcoming bulletin of the Bureau of Mines (Bull. 429). The effects produced by fire-retardant treatments of the carbonaceous absorbent and of the canvas wrappers were investigated separately, and the efficacy of combinations of these treatments with particular reference to the possibility of inflammation and to the development of detonation from inflammation was studied. The experimental explosive was pre¬pared from a granular carbonaceous absorbent and. the results described maybe more or less unique for such a material. An extensive preliminary

Jan 1, 1940

By Otto C. Kopp, Thomas B. Crattie, Dennis R. Owen

Whole-rock analyses of limestones, fine-gralned dolostones and coarser-grained dolostones adjacent to mineralized breccias (Coy mine, Mascot-Jefferson City district) were compared with similar lithologies adjacent to apparently non-mineralized breccias at the new Thorn Hill section located approximately 39 km north of the Coy mine. Specimens were analyzed for Ca, Mg, Si, Al, K, Fe, Mn, Sr, Br, C1, S, Ti and P using X-ray fluorescence analysis. The concentrations of the major and most minor elements for Thorn Hill specimens fall within the range of concentrations for Coy mine specimens; however, significant differences (probability < 0.05) were noted for Fe, C1 and Br for fine-grained dolostones and for MgO, Fe and Mn for the coarser-grained dolostones. No significant differences were detected for the limestones.

Jan 1, 1985

By John Gross

THE deductions drawn in crushing and grinding operations have heretofore been based on a separation of the products into various sizes. A crushed product may be sized by sieving, by elutriation, and by aid of the microscope. To estimate the surface of each size the relation of the surface to the estimated average diameter must be assumed. Such a relation, owing to the irregularity of the particles, may involve two assumptions: First, a factor to convert average diameter to surface for one particular size; and second, a variation in the factor as the diameter of the particle changes. Obviously a surface measurement in which such assumptions and estimates are involved is questionable. In the first paper of this series1 a method has been given by which an accurate measure of surface of quartz can be obtained from its dissolution rate. By the use of this method, surface measurements have been made on a series of sieve sizes of crushed quartz, the results of which are given and discussed in this paper.

Jan 1, 1928

By J. B. Goddard

Crystallization of ammonium paratungstate (APT) is frequently the last effective purification step in producing high-purity tungsten. However, crystallizer mother liquors are often several times higher in tungsten than predicted by the solubility of APT. The formation of heteropoly anions, particularly those containing phosphorus and silicon, is largely responsible. Solubility of tungsten in APT mother liquor can be linearly correlated with the concentration of these and other impurities. The problem can be overcome by direct treatment of the crystallizer feed solution with aluminum sulfate. By appropriate treatment, the aluminum hydroxide flocculates and is easily filtered, resulting in a purified low-aluminum crystallizer feed from which high APT yields can be attained.

Jan 1, 1985

By C. G. Dunn, F. W. Daniels, M. J. Bolton

Recent observations on grain boundary movements in sihcon iron have indicated the possibility of studying grain growth phenomena in two-grain specimens in which several variables affecting growth are readily controlled. These variables are (1) the energy per unit area (?) in the grain boundary, (2) the orientation relationship of the two grains, and (3) the radius of curvature (7) of the moving boundary. Ideally, one grain A should be a narrow rectangular parallelepiped adjacent to a second grain ß as shown two dimensionally in Fig 1. Such a two-grain group becomes unstable when one end of grain A is shaped according to the dotted line. Since the width w of grain A remains constant during growth of grain B, T should also remain constant. The other vari- ables mentioned above can be controlled in the preparation of each two-grain specimen.l,2,3 For a parLicular orientation of each grain, is not necessarily fixed; ? may also depend on the orientation of the grain boundary, but this may be controlled to some degree. The energy relationships for the gowth of grain ß may be derived from the more simple arrangement of two grains A&apos; and B&apos; shown schematically in Fig 2. Here B&apos; largely surrounds A&apos;. Assume these grains are oriented with a common plane parallel with the flat

Jan 1, 1950

By Frank Firmstone

When in charge of the Glen don Iron Works, the importance of good methods of filling was forcibly brought to my attention, and it occurred to me that the first step toward the discovery of the best plans was the accumulation of exact information as to the distribution actually effected by various chargers; also, that something could be done in this direction by careful measurements in the furnace, to be afterwards recorded for comparison on drawings. The figures shown herewith have been prepared from such measurements, and nearly all of them refer to Glendon, where the fuel used was anthracite and the ore-mixture about threequarters of New Jersey magnetic ores and one-quarter of brown-ores from the vicinity of the works. Every occasion furnished by the blowing-in of furnaces was utilized, but the data accumulated rather slowly in this way; and, opportunity oEering to make special trials at no great expense, the figures from 2 to 7 were thus obtained. The trials were made by dumping a hopperful (6 barrows) of material at once into the furnace, and, when all the fuel of a round (12 barrows) had been put in, the profile of the upper surface was obtained by stretching a steel tape across the top on a diameter and at a known height. By measuring down from this with a graduated rod, the profile was easily obtained with sufficient accuracy, especial pains being taken to get correctly the crests of the ridges and the bottoms of the hollows, as many intermediate points being included as seemed necessary. This was repeated on another diameter when there was occasion. The same course was followed for the limestone and ore.

Jan 1, 1899

By Erland Johnson

BRINE was discovered at Avery Island, La., in 1790, but it was not until 1862 that rock salt was found about 13 ft below surface-the first discovery of rock salt on the continent. Maximum elevation of the island is 152 ft and elevation at the shaft 31 ft. The mining level is 530 ft below elevation at the shaft and the shallowest salt about 12 ft below surface. A shaft was sunk in 1869 when the mining operation started. In 1898 the present shaft was sunk, and the mine has been operated by International Salt Co. ever since.

Jan 6, 1957

By John Griffen

OF the western European countries, only England has made any extensive use of equipment developed initially by the coal preparation industry of the United States. About 20 years ago, the Chance sand flotation process for cleaning coal was introduced in England, and it has had a fairly wide adoption, particularly in the South Wales coal fields. In recent years, particularly since 1946, a considerable number of Denver flotation cells have been installed throughout the English coal fields for the cleaning of slurry. Until the advent of the Denver cells, the flotation of coal slurries in Western Europe had been done largely with the Mineral Separations cell or its modifications. Kleinbentik of Dutch State Mines had developed a cylindrical cell used in Holland and occasionally in Belgium and France. In England, the establishment of the National Coal Board to control the planning and operation of all coal production has retarded somewhat modernization of properties. A considerable period of study was required before definite long-range plans could be formulated. It was soon recognized that stopgap measures were needed in many cases to bridge the period until final plans could be developed and consummated. One of the stopgap problems in coal preparation was providing plants of small and medium capacity that could be used for a few years at one site and yet could be moved economically to another site so as to reduce depreciation charges per year and per ton. Such plants are being installed but the most satisfactory answer probably has not yet been found. One such installation uses a Norton Baum jig to wash 6 in. to 0. The equipment is in a steel structure rather than in a reinforced concrete frame with brick curtain walls, which is the normal structure for permanent plants. Since England has between 700 and 800 preparation plants for an output of 200 million tons per year, one of the long-range objectives is a consolidation of mine output which will require fewer coal

Jan 1, 1952

By John W. Cloud

IN 1877 the Pennsylvania Railroad Company removed an old bridge from its line at Duncannon, Pa., built intermediate piers and erected shorter spans of the Pratt truss type, which had previously been in use on another portion of the road. The design of this truss would not admit of diagonals larger than 1 5/8 inches diameter, and in order to stiffen the bridge somewhat steel rods were introduced for the main diagonals in the first and second panels, 1 5/8 inches and 1 3/8 inches diameter respectively. These rods were threaded without upsetting, and by the ordinary formulae the strains were of the same intensity upon both, viz., 16,000 pounds per square inch with the maximum loading. The other main diagonals in the truss are 1 5/8 inches diameter, and of iron. It was specified for the steel rods : Elastic limit, - 45,000 lbs. Tensile strength, - 80,000 lbs. Elongation, - 20 per cent. The steel was procured without difficulty, and it allowed a factor of safety of 2 3/4 at elastic limit, while a similar factor of 2 1/2 had for a long time been successfully used for iron. In the course of three years, from time to time, six of these steel rods broke, three of them being 1 3/8 inches in diameter, and three 1 5/8 inches in. diameter. The broken rods were tested, and three of them. analyzed at Altoona to ascertain the cause of failure, and what modi¬fications should be made in the steel for such service. Examination showed that all the rods were broken in detail close under the nut. The threads were well cut and properly rounded at the root. In testing the rods micrometer screws,. reading to .0001" with electric bell to signal the contact, were attached to the test pieces, and by this means the modulus of elasticity and elastic limit accurately obtained.

Jan 1, 1881

By A. E. Harnsberger

IT is obvious that details such as the physical and chemical properties and methods of heat-treating of the materials mentioned must be omitted in a paper on the subject of materials used in oil-refinery pumps1. Only sufficient identification is given to enable the reader to find additional information from already published data. Also, the subject covers many operating conditions, but only the most important services can be discussed here. To the oil refiner, the pumping equipment is of vital interest. Practi-cally every refinery operation, from the charging of crude oil to a dis-tillation unit to the shipping of refined products, involves some form of pumping machinery. Intermediate refining stages involve a great variety of pumping machinery to carry out successfully the aims of the refinery technologist. Temperatures at which oils are handled vary from -50° F. to 900° F. Pressure may vary from subatmospheric to 2000 lb. per, sq. inch. The selection of the proper materials involves a careful consideration of the conditions under which the particular pump must operate. The four most important considerations are temperature, pressure, corrosion, and abrasion or wear. Consideration of temperature may be divided into three parts: (1) extremely low temperatures of the order of -50° F.; (2) temperatures at atmospheric or slightly above; (3) temperatures from 200° to 900° F. Pressures fall into two groups: (1) pressures reached by ordinary trade pumps of the order of 200 lb. per sq. in., (2) extreme pressure conditions involving pressures as high as 2000 lb. Noncorrosive and corrosive oils can be treated differently. Under the latter falls corrosion in the presence of water, which will occur up to 250° F. The second type of corrosion occurs in high-temperature pump-ing equipment, with temperatures from 450° to 900° F., largely caused by sulfur compounds. There are also other corrosive conditions met with

Jan 1, 1935

By J. Blodget Britton

To the question, " Do the Pennsylvania anthracites contain phosphorus?" asked at the last meeting of the Institute during the discussion on the metallurgical value of Western lignites, I can now give a definite answer. Through the kindness of a gentleman connected with the Philadelphia and Reading Railroad, and another connected with one of the principal ironworks on the Lehigh, there was sent to the Ironmasters&apos; Laboratory a number of samples of the coals now largely shipped from the Schuylkill and Lehigh regions. Seventeen of these I examined for their contents of ash and phosphorus, and obtained results as follows : Ash. Phosphorus. No. 1, . 4.10 .0063 2, . . . . 7.97 .0209 113, . 5.53 .0049 114, . . . . . . . 6.55 .0056 . 5, . 5.39 .0761 . . . . . . . 11 6, 14.15 .0593 7, . 10 43 ,0049 rl 8, . . . . . . . 5.29 .0354 9, . . . . . . . 3.01 .0042 6L10, . . . . . . 3.03 .0042 1 1 . 275 .0014 12, . 2.82 ,0111 l&apos;13, . .3.69 trace L1 14, . . .2.35 trace 15, . . . . . . . 7.22 .0014 16, . . . . . . . 3.49 .0167 17, . 4.63 trace

By T. W. Harris

This paper was written in conjunction with the work being undertaken by the Technical Committees on Classification of Coal, and an effort has been made to compile information relative to the use of coal for stationary steam generation in order to use this information to assist the Committee on Classification of Coal for the ultimate purpose of elimination of losses both by the reduction of individual effort and waste in the consumption of material. Under the auspices of the National Association of Purchasing Agents, a questionnaire was drawn up to develop this information from stationary steam plants throughout the United States in order to consolidate the information developed from the many hundreds of boiler tests on coals consumed by various coal-burning equipment. These questionnaires covered: 1. The company reporting, location and method of delivery to the plant. 2. Complete coal data, including description of coals used (with sufficient space to include first, second and third preference) on source of coal used, complete analysis and factors affecting choice of coal used. 3. Plant data, divided into: (a,) hand-fired, (b) overfeed stokers, (c) underfeed stokers, (d) traveling grate stokers, (e) pulverized coal; and included complete description of furnace data, draft data, coal-burning rate, type of stoker, type of pulverizer, efficiency data and remarks. The questionnaire was drawn up by consultation with various combllstion engineers, including B. J. Cross, Test Engineer of the Combustion Engineering Co., W. H. Fulweiler, of the United Gas Improvement Co. and the U. S. Bureau of Mines. In all, 11,538 copies of the questionnaire have been distributed, of which 4369 were sent in duplicate. Our estimate of the total volume of bituminous coal consumed in stationary steam boilers over the 12 months of 1930 is approximately

Jan 1, 1934

By H. W. Turner

In addition to the deposits mentioned by Mr. Lindgren? the following may be noted: 1. In the " Dardanelles quadrangle," of the map of the U. S. Geological Survey, 3 miles NW. of Tower Peak, there is a considerable mass of quartzite, marble, and dark, fine-grained. gneiss. At the edge of the coarsely crystalline white marble, having a width of about 400 ft., is a white schistose rock, which,

Jan 1, 1904

By Fred A. Anderson, George B. Wallace, Edward J. Slebir

Auburn Dam will be a thin, double-curvature concrete arch dam about 685 ft high. With a crest length of about 4000 ft, it will be the world&apos;s longest single-arch dam. The site is located on the North Fork of the American River about 40 miles northeast of Sacramento, Calif. Construction is scheduled to get under way in 1970. In planning for the design and construction of Auburn Dam (see artist&apos;s conception), the foundation material, with its various discontinuities, is being investigated and the structural characteristics of the rock mass evaluated. The investigation and testing programs will aid in defining the pertinent geologic features and their individual and cumulative influence on the foundation. The work includes geologic surface mapping, surface trenching, core drilling, geophysics, tunneling, excavating shafts and raises, performing in-situ tests, and conducting laboratory tests on core and block samples. Competent amphibolite is the predominant material in the foundation, but significant bodies of chloritic, talcose, and metasedimentary rocks, a strongly developed jointing pattern, faults, and shear zones also affect the deformability of the rock mass. A comprehensive rock mechanics program, closely coordinated with geologic investigations as well as the engineering studies, therefore is required The rock mechanics work is a combination of many analytical studies and experimental investigations. The experimental work includes laboratory tests on core samples from holes drilled for geological studies of the entire foundation and in-situ tests performed in selected areas. The laboratory testing program evaluates the general properties of all important rock types and aids in correlating many of the key structural features encountered within the foundation. To derive maximum benefit from the field tests, they are conducted in materials which represent a

Jan 1, 1970

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco&apos;s development of the Weipa bauxite deposits in Northern Queensland in the late 1950&apos;s, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960&apos;s, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA&apos;s interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt&apos;s is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor&apos;s balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor&apos;s activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER&apos;S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By O. N. Carlson, S. A. Bradford

Discontinuous yielding in tensile tests was observed in V-O alloys in the temperature ranges of 150° to 175°C and also 350° to 400°C. The magnitude and intensity of the serrations were found to vary considerably with oxygen content. Maxima were observed in tensile and yield strengths and in the strain-hardening coefficient at the higher temperature only. The strain rate sensitivity was observed to be negative between 150° and 400°C. THIS investigation was undertaken to study the effect of oxygen on the tensile properties of iodide vanadium in the temperature range of 25o to 450°C. Brown1 observed an increase in strength between room temperature and 400°C in vanadium metal, and found that oxygen and nitrogen had a rather pronounced effect on the strength and ductility. A maximum in the tensile strength was observed by Rostoker et al.2 near 300oC and by Pugh3 around 450°C for calcium-reduced vanadium. Pugh also found a maximum in the yield strength and in the strain-hardening exponent, and minima in the elongation and strain rate sensitivity at the same temperature. Eustice and Carlson4 reported the appearance of serrations in the stress-strain curves between 140° and 180°C in iodide vanadium containing 600 ppm O. These anomalies in the mechanical properties indicate that strain aging occurs in vanadium, but the impurity or impurities responsible for the above-mentioned effects have not been identified. The phenomenon of strain aging is usually characterized by the return of the yield point after interruption of a strength test. In the temperature range where strain aging occurs, the yield and tensile strengths attain maximum values, elongation and strain rate sensitivity exhibit minima, and discontinuous yielding is generally observed in the stress-strain curve. Cottrell5, 6 has postulated that strain aging is due to the migration of solute atoms to dislocation sites to produce locking after the dislocations have broken free from their impurity atmospheres during the initial yielding. At the strain-aging temperature the process is a dynamic one in which the solute impurity atoms diffuse to the vicinity of the moving disloca- tion producing "locking" which gives rise to maxima in the tensile strength and serrations in the elongation curves. Cottrel17 has noted that discontinuous yielding in iron occurs when the diffusion coefficient of nitrogen, D, and the strain rate, i, are related by D = 10-9 €. EXPERTMENTAL PROCEDURE The vanadium metal employed in this study was prepared by the iodide refining process as described by Carlson and owen.8 A representative analysis of the vanadium used in this investigation was: 150 ppm O, <5 ppm N, <1 ppm H, 150 ppm C, 150 ppm Fe, 70 ppm Cr, <50 ppm Si, 30ppm Cu, 20 ppm Ni, <20 ppm Ca, <20 ppm Mg and <20 ppm Ti. Alloys containing from 200 to 1800 ppm O, all of which lie in the solid solution range of the V-O system, were prepared by arc melting vanadium together with portions of a high-oxygen master alloy. The master alloy was prepared by tamping pure V2O5 into holes drilled in a vanadium ingot and arc melting this five or six times in an inert gas atmosphere, inverting the button between each melting step. The oxygen content of the master alloy was then determined by vacuum fusion analysis. Vanadium containing less than 150 ppm O was prepared in the following manner. A bar of iodide vanadium was deoxidized by sealing it in a tantalum crucible with a few grams of high-purity calcium. This was held at 1100°C for 4 days to allow time for the oxygen to diffuse to the surface and to react with the calcium vapors. The calcium oxide product was later dissolved from the surface of the bar with dilute acetic acid. In this way vanadium containing from 20 to 50 ppm O was prepared. Sample Preparation. The are-melted ingots were cold swaged into 3/16-in. diam rods and these were machined into cylindrical tensile specimens with a reduced section of 1.00-in. length and 0.120-in. diam. The test specimens were annealed for 4 hr at 900°C in a dynamic vacuum of mm of Hg to remove hydrogen from the metal. This recrystal-lization treatment produced a uniformly fine-grained structure with a mean grain size of approximately 0.06-mm diam. The oxygen contents reported in this paper were determined by a vacuum fusion analysis of the tensile specimens after testing. Analyses for other interstitial or metallic impurities showed no significant changes from that of the original material. Tension Tests. Tension tests were performed on a screw-driven tensile machine at a constant cross-head speed of 0.01 in. per min. Tests at elevated temperatures were carried out by heating the

Jan 1, 1962