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By Walter B. Lenhart

Introduction and Importance of the Industry Sand, as described in this chapter, is a crude product used for ballast on railroads and highways, and as the fine aggregate in concrete, mortar, plaster and in asphalt paving materials. The sand used in glass, as a molding sand, and as a source of silica is described in Chapter 43. Sand and gravel together constitute the mineral raw materials of largest volume produced from the earth. In 1958, as reported by the U.S. Bureau of Mines,21 680,080,000 tons of sand and gravel (including industrial sand) were produced in the United States. The nearest competitor was crushed rock of which 532,818,000 tons were produced. Coal, both bituminous and anthracite accounted for only 431,616,689 tons in the same year. In dollar value, sand and gravel were exceeded only by cement, crushed rock and fuels. Hence it is a major unit of the mineral-producing industry. As an example, one plant in California operates around the clock at an average rate of 1,500 tons per hour, and at peak intervals has shipped over 4,000 tons per hour, all by trucks. Nevertheless, it is controlled by one man through a panel of push buttons that control the crushing, screening, washing, grading, stock piling, and reclaiming of the products. Because sand and gravel are low-valued commodities, but are used in every construction undertaking in every city, village, farm, dam and highway, they are produced in almost every county in the United States and southern Canada, by thousands of individual operators, very few of whom operate in more than one community. Many operations, particularly those established to supply the needs of major dams that are under construction, or of major segments of new highways, are temporary in nature, and the equipment installed is more or less portable. Because of the bulky nature of sand and gravel, there is very little interstate movement, and almost no exports or imports, except a little movement back and forth across the border of the United States and Canada. First, the material needs definition. Definitions Sand and gravel have been defined as continuously graded unconsolidated materials that appear in the earth's surface as a result of the natural disintegration of rocks. Both normally appear together, but in a wide variety of sizes, types and range of size classification. The American Society for Testing Materials has tentatively revised its definition of "sand" as: granular material passing the 3/8-in. sieve and almost entirely passing the No. 4 (4760-micron) sieve and predominantly retained on the No. 200 (74-micron) sieve, and resulting from natural disintegration and abrasion of rock or processing of completely friable sandstone (ASTM Designation C 58-55T). The Society's tentative revision of its definition of "gravel" is: granular material predominantly retained on the No. 4 (4760-micron) sieve and resulting from natural disintegration and abrasion of rock or processing of weakly bound conglomerate (ASTM 125-55T). Sand and gravel deposits contain materials from the finest silt to the largest boulders. Chemical definition of the two materials is nearly impossible. Sand and gravel always are

Jan 1, 1960

After the explosion in the Black Heath pit, that company sent to England for some experienced miners to reopen the mine. The results of their work in this vicinity are mentioned in an advertisement for pit hands by the Mid-Lothian Co., as follows: "PIT HANDS WANTED.-In consequence of reports having been circulated of the insecurity of hirelings in the Mid-Lothian Mines, the Company deem it proper to make known, that the mines have recently been opened, and that not the slightest explosion from gas has occurred; the workings were laid out and are now progressing, ° under a plan furnished by Messieurs Foster & Hall, .two distinguished English Colliers, sent over from England to reclaim the Pits of the Black Heath Company after the recent explosion of gas-and the present under ground operations are now conducted under the management of one of the English foremen left here by these gentlemen, and supervised by Mr. Wm. Hall, who has under his superintendence the Black Heath Company's Works at present. The skill and capacity of those gentlemen, is fully evinced in their skilful reclamation of the Black Heath Mines, and their present successful working of said Pits; and their confidence in the safety of the hands in the Mid-Lothian Mines, will be seen, by reference to the annexed extract from the Plan left by Messrs. Foster & Hall for laying out and working the Mid-Lothian Mines, and from the Certificate of Mr. William Hall, as to the manner in which that plan is carried into effect. This publication has been deemed proper, as the Company are now in want of some ten or fifteen additional able-bodied, active Pit-hands, on hire by the year, for which they will give the most liberal hire. The Company have not hitherto spared any labor or expense, deemed necessary to secure the absolute safety and comfort of the hands in their mines; nor is it designed in future to omit any thing that can add to the security of their own hands, or the hired laborers of other persons-indeed they can, with great propriety, say, as far as they have progressed, that no mines in this country exhibit stronger, if as strong, evidence of general safety. The Company will receive on hire, no hands who do not voluntarily enter their service -and they request of those having hands to hire out, to remember that they will want upon hire, successively, at intervals of every ninety days, some additional four or five hirelings during the year, or to purchase, progressively, that number of healthy, able-bodied young men. "Owners of slaves at a distance from the Coal Mines, would do well to give some attention to the subject. There is no place in this country where slave labor commands as much, where their general health is better, and where the treatment and contentment of the slaves are surpassed. It is true that within the last few years several disastrous accidents have occurred, but from the scientific and practical skill attracted to the mines, these accidents will be of rare occurrence, it is to be hoped. A. S. WOOLDRIDGE, President, at the Mines in Chesterfield County.

Jan 1, 1942

By George A. Roberts

The development of an alloy system, high-speed steel, is used as an example of the progress of physical metallurgy. Tracing the history of men and their thoughts as they studied and invented and modified these materials, the story of high-speed steel since the 1890's is seen to be a long, slow, but steady progression of achievements. Today's multiplicity of high-speed steels are the result. Data are presented on quantitative metallography of carbides in high-speed steel with high vanadium content using the QTM instrument. Grindability as well as mechanical properties are related to the content of excess MC and M6C carbides in a series of high-speed steels and the newer matrix steels. These emphasize the present state of knowledge and show the current stages of thought that may affect the development in succeeding years. It is a great thrill for me, an ex-research metallurgist and ex-practicing metallurgical engineer, to speak to an audience currently engaged in both pursuits on the occasion of the 43rd Howe Memorial Lecture before the Iron and Steel Division of the AIME. I shall not review Henry Marion Howe's distinguished career, so adequately reviewed in Maxwell Gensamer's contribution in the 1965 AIME History of Metallurgy, except to point out that, while leading the life of an intellectual, he worked as a practicing research metallurgist and a practicing metallurgical engineer for significant periods of time and contributed greatly in both areas. For those of you who believe, as I do, that in the intellectual activity of metallurgy we are blessed with an intimate mixture of science and engineering (see Mehl's 1960 Howe Lecture), we might recall that Howe, while pursuing a life of writing and teaching in later years, served as the first Chairman of the Division of Engineering of the National Academy of Sciences. That metallurgists were called upon then to lead an engineering recognition movement is perhaps related to the strong part played by the AIME and its members in the recent establishment of a National Academy of Engineering and to the fact that a metallurgist is its head, 47 years after Howe served. I stress these engineering aspects for I wish to talk about a metallurgical engineering subject today. Alloy systems, physical metallurgy, and steel blended with an historical perspective and a report on new techniques to improve the old will, I trust, be of sufficient interest to bring these lectures back to the physical-metallurgy banner from which they have departed for 4 years. Those process metallurgists, open-hearth fiends, and physical chemists among you will just have to be patient. The development of an alloy system is the engineering application of scientific thought and fact. There are many interesting alloy systems, developed to a high degree of technology and sophistication over the past 40 to 70 years. These systems are bound together and related by a similar set of characteristics. For example, stainless steels are a system in which the members are related by a high chromium content which gives a corrosion-resistant characteristic. A subfamily in this system would be austenitic steels

Jan 1, 1967

By Thomas O. Ziebold, Robert E. Ogilvie

Experimental analysis of diffusion samples covering the entire Cu-Ag-Au system at 725°C has been carried out. Experimental coefficients are computed at twenty-eight points in the lermary system. It is found that the direct coefficienl for copper is nearly independent of the silver, content for 1ow-silver alloys and that the cross coefficient for silver correlates with the ther-nzodynatnic properlies. This lalter observalion leads to the conclusion that the mobililies of copper and gold are nearly equal. Thermodynarmic actiuilies for Cu-Ag-Au were computed from binary data and adjusted to be consistent with neasured tie lines across the two-phase region which extends into the ternary diagram at 725°C. Application of these therknodynarnic calculaliorls to the dijftcsion data terifies the Onsager reciprocal relations to the extent that experimental uncertainlies will allow. It is jound that diffusion neav the critical point of the 1200-phase field in the isothermal section at 725°C causes the composition gradients for copper and silver to approach infinity while the direct and cross coeficients become equal. From the standpoint of experimental Procedures, it has been shown that microanalysis of ternary samples may be carried out using a simple expression for the conversion of X-ray zntensily to composilion. The accuracy of' this method has been demonstrated by the analysis of standard alloys and by the reproducibility of composition determinations using differed X-ray lines. DIFFUSION in a ternary alloy system is basically and significantly different from diffusion in binary alloys. When only two elements are present there is just one independent composition variable, and the diffusion profile of composition vs distance across a sample must change monotonically through all solid solutions bracketed by the terminal alloys. If two-phase regions are stable for compositions between the terminal values, these must appear as planar interfaces in the diffused sample, with the composition profile exhibiting sharp discontinuities. Adding a third element may alter this picture completely. Because of the additional degree of freedom in the composition, we may see composition profiles which do not change monotonically through solid-solution ranges, and stable, nonplanar phase interfaces. Even though two-phase regions may lie between the terminal compositions of a diffusion sample on the constitution diagram, they will not necessarily appear in the diffusion profiles. In binary diffusion only one coefficient is needed to describe the interdiffusion process. From Fick's law this coefficient relates the diffusive flux of one component to its own composition gradient. In ternary diffusion we must allow for cross interaction between the two independent species. By a linear extension of Fick's law we introduce "cross" or "off-diagonal" diffusion coefficients which relate the flux of one component to the composition gradient of the other independent constituent. Thus, we require four interdiffusion coefficients to describe the transport process in a ternary system. In its most general form,1,2 the rate equation for mass transport by isothermal diffusion in a system of s components states that the diffusive flux of component i, Ji, is a linear summation of all driving forces, Xk, each force being multiplied by an appropriate compliance coefficient:

Jan 1, 1968

By J. D. Edwards, C. S. Taylor, A. S. Russell

Solubilities and densities are reported for alumina hydrates in NaOH solutions under the conditions of the Bayer process employed to purify alumina for aluminum production. The equilibrium constants for reactions to form A102- accurately correlate the effects of NaOH concentration on the solubilities; the temperature coefficients of the equilibria lead to heats of solution of 7.34, 4.76, and 5.24 kcal for the a trihydrate, a monohydrate, and ß trihydrate, respectively. Moderate calcination does not change the solubility of the a trihydrate but increases that of the a monohydrate. At solution temperatures above 100°C, the trihydrates transform rapidly to a monohydrate. Hydro-thermally produced a monohydrate is the stable phase above 20°C. CORNERSTONE of the aluminum industry, the Bayer process for alumina production is based on the difference in solubility of hydrated alumina in NaOH solutions between 170" and 40°C. Solubilities and densities in this system were determined thirty years ago by M. Tosterudl under the direction of J. D. Edwards and C. S. Taylor. The solubility data, which still appear more concordant than those in the literature, are employed to sort out the complex equilibria in this system. The nomenclature for the alumina hydrates is that presented in The Aluminum Industry' and more recently summarized in Alumina Properties.3 a trihydrate is the purified phase analogous to gibbsite, a monohydrate is similarly akin to boehmite, and ß trihydrate is sometimes known as bayerite. Literature Goudriaan4 reviewed the early literature on alumina in NaOH solutions and presented data on the solubility at 30°C of several forms. The gel precipitated from aluminum sulphate or chloride with ammonia and dried at 130" to 140°C had the highest solubility but was unstable, its solubility being cut to one-tenth on standing in NaOH. The solubility of the gel was decreased one-third on calcination at 300" to 400°C, while that of the gel transformed in NaOH at room temperature to a crystalline trihydrate was unchanged on calcination. The preparation produced by slow hydrolysis of sodium aluminate solution with CO, in the air gave solubilities in rough agreement with later values for a trihydrate. The solubility of this form was increased slightly by the calcination. Fricke and Jucaitis5 extended the work to 30" and 60°C with a trihydrate. They also gave solubilities for ß trihydrate (bayerite b), although the residue belonging to the left branch of the solubility curve corresponded to a trihydrate. The residues at high NaOH concentrations were mono and trisodium aluminates, the latter being 3Na2O . AL2O3 • 6H2O. Solubilities of a trihydrate at 95°C and of a monohydrate at 150" and 200 °C come from the work of Magarchak.6 a trihydrate transformed to a monohydrate above 95°C. A few measurements on the solubility at 25°C of an alumina trihydrate prepared by slow hydrolysis of NaAIO, solutions were presented by Sprauer and pearce.? Their analyses showed the monosodium aluminate to have the composition Na2O.Al2O3-2.5H2O.

Jan 1, 1956

By Edward E. Hicke, Charles A. Stickels

The dihedral angle of liquid-lead inclusions in solid nickel has been measured as a function of temperature from 371 to 816 C at zero pressure. and as a function of pressure up to 50,000 psi at 317 and 593 C. Thermodynamic expressions are derived for the temperature and pressure coefficients of interfacial tensions in this system. A method is presented for obtaining relative tempmature and pressure coefficients from dihedral-angle data, and the resulting values are used in conjunction with the thermodynamic relations to calculate excess properties of the solid-liquid interface. Defining the position of the solid-liquid interface by the condition that the excess concentration of lead is zero, the excess concentration of nickel and the excess entropy at the solid-liquid interface are: where y(593) is the interfacial tension of the nickel grain boundary saturated with lead at 593C and zero pressure. These values are considered reliable to within a factor of two. While similar calculations are not possible for the nickel grain boundary, it is shown that the expwimental results imply that the excess concentration of nickel at the boundary and the excess entropy of the boundary are negative. THE temperature and composition dependencies of interfacial tensions in metal systems have been reported by several authors in the last 15 years.'-' No measurements of the effect of pressure on inter- facial tensions in metals have been reported, although measurements made on nonmetallic gas/liquid and liquid/liquid systems suggest that a measurable effect should exist.6-l2 The purpose of these experiments was to determine the influence of temperature and hydrostatic pressure on dihedral angles in the Pb-Ni system. The equilibrium dihedral angle is expressed as a ratio of interfacial tensions by2: where 8 is the dihedral angle, yGB is the Ni-Ni grain boundary tension, and SL is the solid Ni-liquid Pb interfacial tension. Three sets of ex- periments were run to determine: a) the effect of temperature from 371" to 816°C on the dihedral angle at zero pressure; b) the effect of pressure up to 50,000 psi on the dihedral angle at 371° and 593°C. THERMODYNAMICS The properties of interfaces of most direct concern are the interfacial tension, excess concentrations of various components at the interface and the excess entropy of the interface, S°. These quantities are defined following Gibbs. Consider an interface separating phases a and 0. Construct two surfaces C, and C such that all properties of phase a remain uniform up to C, and all properties of phase 0 remain uniform up to C. The region between C, and Cp is the interfacial region. Let a "dividing surface", D, be constructed in the interfacial region such that it passes through all points "similarly situated with respect to the condition of the adjacent matter."l3 Surface D divides the interfacial region into a portion a' adjacent to phase adjacent to phase . Let a closed curve, C, enclose an area A in D. Erect normal lines to D along C; these lines and the surfaces C,, Cp, and D then enclose volumes V and V' in the two halves of the portion of the

Jan 1, 1964

By P. K. Koh

With identical annealing heal treatment the development of major annealed texture component seems to depend primarily upon the degree of cold reduction. Cube texture was evident on annealing- 1/2-, 1,/4- , and 1/8-mil tapes at 760°C, but it dissap-)eared on 927°C annealing of 1/8-mil tape cold reduced 96.9 pct. Some cube texturee remained as tile strongest 927 °C annealed texture component in 1/4- and 1/2-mil tapes cold reduced 93.8 and 87.5 pet, respectively. The switching coefficient increases and the squareness ratio of the hysteresis loop decreases proportionally with increasing cube pole concentration. PREVIOUS studies 1,2 on the 1/8-mil ultra-thin molybdenum permalloy tape established cold rolled and annealed textures and their magnetic performance for switch-core and coincident-current memory applications, The major cold-rolled texture was found to be of {110}<335> which is quite similar to the cold-rolled texture of silver and 70-30 cartridge brass. The major annealed texture components were found to be of {120)-- <001> and {113)<785>. Although the direction for easy magnetization for this type of alloy by the single-crystal technique is not avaliable, knowledge from related studies indicated [Ill] as the easy magnetization direction, similar to that of nickel.&apos; Therefore, a cube orientation, if present in the tape core, would be most detrimental to its magnetic performance.3 In its cold-rolled state the tape had < 111 > directions in the rolling plane 14.5 deg from the rolling direction.&apos; But the coercive force of the tape in such condition will be excessive due to large amounts of internal stresses, and therefore makes its use impossible for memory applications due to long switching time. In lower nickel alloys, suchas 50-50 nickel-iron and 65 pct Ni-Fe sheets, previous investigators4"7 found the presence of cube texture on annealing at 900° to 1000°C. Although no cube texture was found in annealed 1/8-mil tape,"&apos; its presence in some annealed 1,/4-mil tape cores was firmly established a year ago as verified by significant differences in magnetic properties. The present investigation is devoted to the orientation study and related magnetic measurements on three thicknesses of the ultra-thin tape, namely, 1/8 mil, 1/4 mil, and 1/2 mil, cold rolled directly from annealed 4-mil stock in the cold-rolled state as well as after they were annealed at 760°C (1400° F) and 927°C (1700°F). The results obtained might serve to elucidate the development of annealed texture as well as to establish clearly the importance of preferred orientation on the magnetic performance of such memory tape core despite its well-known low magnetic anisotropy exchange energy. EXPERIMENTAL PROCEDURE Samples were taken from one production heat (0.010 wt pct C, 0.004 P. 0.016 S, 0.80 Mn. 0.29 Si. 79.69 Ni. 4.42 Mo. 0.054 Co, 0.002 Ti, 0.12 Al, 0.04 Mg, 14.56 Fe). Annealed 4-mil sheets were cold re-

Jan 1, 1962

By Richard H. Jahns

GRANITIC pegmatite deposits are the chief source of commercial feldspar, sheet mica, beryllium, tantalum-columbium, and lithium minerals, and certain types of kaolin. They also have yielded significant quantities of cassiterite, gems, scrap mica, molybdenite, tungsten minerals, uranium-thorium and rare-earth minerals, and zircon, either directly or as the sources of placer deposits. The output from pegmatite mines in the United States is small as compared to other mineral products in terms of bulk or value, and much of it comprises minor metals and nonmetals. Nevertheless, pegmatite minerals play a vital part in domestic industrial economy, particularly in the ceramic and electrical industries. Numerous special purpose uses also are important, even though they require small quantities of raw materials. Never was United States dependence upon pegmatite mining more clearly emphasized than during World War 11, when greatly expanded demands and uncertainties of foreign sources of supply caused much concern. Such commodities as beryl, tantalite, and sheet muscovite remained high on the critical list for months at a time, and for some minerals there was a real struggle to achieve and maintain a favorable ratio of supply to demand. Satisfactory stock piles of certain sizes and qualities of sheet mica, for example, were not built up until late in 1944, when wartime requirements already had begun to level off or even to decrease. Production of all the strategic pegmatite minerals from domestic deposits during World War I1 constituted only 10 pct or less of the total domestic consumption of these minerals, but the importance of this contribution should not be minimized. Domestic production often represented the difference between increase and further reduction of existing stocks of commodities already in seriously short supply, and in the early stages of the war it was the only assured source if imports were cut off. During the recent war period, the U. S. Geological Survey carried on a program of pegmatite studies in the New England and Southeastern States, in the Black Hills area of South Dakota, in the Rocky Mountain region of Wyoming, Colorado, and New Mexico, and in various parts of Washington, Idaho, Utah, Nevada, Arizona, and California as shown in Fig. 1. Several papers and reports already have appeared as an outgrowth of this work,&apos;-= and others are in preparation. This paper outlines some results of data obtained by the writer during the period 1942 to 1946, when he was engaged in studies of pegmatites in the Southeastern, Southwestern, and Rocky Mountain States. Beryllium Minerals Beryl is the present commercial source of beryllium metal and beryllium compounds, which are used in ceramics, in the preparation of X-ray tubes and fluorescent lamps and screens, in special processes of paint and textile manufacture, and in the optical systems of some electrical instruments. The metal also is used in nuclear physics, chiefly as a source of neutrons. Beryllium is alloyed with aluminum for certain light-metal uses and is a constituent of some nickel and iron alloys. Currently the chief demand, however, is for copper-base alloys, which are exceptionally resistant to fatigue and wear, are responsive to hardening treatments after

Jan 1, 1952

By R. Maddin, A. Lawley

Single crystal Mo-Re alloys (99.99+ purity), grown by electron bombardment floating zone heating, were deformed in tension at temperatures from -196° to +200°C. At -196oC, Mo-6 pet Re and Mo-20 pct Re alloys deform by slip on systems of the type (101) [1ll]. Above-78oC, the operative slip system is of the type (112) [111], (101) [1ll], or (211) [1ll], depending upon orientation. Mo-39 pct Re alloys deform by twinning and slip at all test temperatures with a (112) [111] type twinning system. Critical resolved shear stress for slip and twinning is calculated as a function of composition and temperature, and the mechanical properties compared with those of less Pure polycrystalline alloys. HEXAGONAL close-packed rhenium, c/a = 1.615, is highly soluble in molybdenum. The bee molybdenum-rich solid solution extends to approximately 42 at. pet Re* at 2500°C,&apos; Fig. 1. Recent work on polycrystalline alloys has shown conclusively that the addition of rhenium to molybdenum improves both the fabricability and the low-temperature ductility.2"5 Similar behavior is observed for W-Re and Cr-Re alloys.5 Initially, Geach and Hughes2 found that the Mo-30 pct Re alloy could be cold rolled to approximately 90 pct reduction before the onset of cracking. The remarkable effect of the rhenium was later confirmed by Jaffee et al. 3-5 with an optimum condition of maximum strength combined with maximum ductility at the Mo-35 pet composition. At higher rhenium contents, the ductility was severely impaired due apparently to the presence of brittle tetragonal s phase, Fig. 1. In the Mo-35 pet Re alloy, at least 110 ppm (parts per million) oxygen could be tolerated before cold workability was reduced. By comparison, the corresponding tolerance figure in unalloyed molybdenum is ~ 10 ppm. The effect of rhenium was considered in terms of: 1) a reduction in oxygen solubility in the lattice; 2) a redistribution of intergranular oxide from grain boundary films to isolated spheres; and 3) the promotion of twinning as a further mode of plastic deformation. Paradoxically, twinning is often associated with brittle fracture in iron and the silicon irons.6&apos;7 Work to date has been restricted to are-melted and powder metallurgy polycrystalline material of ~ 99.9 pet purity. The present investigation was initiated for the purpose of determining the mode and crystallography of plastic deformation of a series of bee Mo-Re alloy single crystals over a wide temperature range from -196o to +200°C. Using high-purity zone-melted material (~ 99.99 + pet purity), the specific role of rhenium in the molybdenum lattice may be understood more fully since effects due to grain boundaries and oxide redistribution will be absent. At the same time, the study provides a comparison of single and polycrystalline deformation behavior. EXPERIMENTAL TECHNIQUES A) Preparation and Purity of Single Crystals. Alloys in the form of either are-cast and swaged or sintered and ground bar, 0.120 in. diam, were obtained from the Chase Brass and Copper Co. Alloy single crystals ~ 8-in. long were grown from the

Jan 1, 1962

By David B. Reger

The substantial expansion of previously discovered gas pools was the principal feature of petroleum activity in West Virginia during 1940. At least one new gas pool was discovered and various other successful wildcat completions may prove to be gas-pool openers. Some slight extensions of oil pools were also made. The new productive territory, principally gas, added by these extensions was approximately 33,800 acres. &apos; In general, oil activity was slight because of unfavorable crude prices. Gas activity, on the contrary, increased considerably, although the price of gas did not materially change. The account of operations, as gathered from trade journals and other reporting services, shows that 709 new wells were drilled, resulting in 102 new oil wells with I055 bbl. of daily new produc-tion; 468 new gas wells with 633>g47,000 cu. it. of daily open flow; and 139 dry holes. Also, 91 old wells were drilled to deeper sands, with 143 bbl. and 44,833,000 cu. ft. of added production. On the new wells the oil average was 10.34 bbl, per well per day; and the gas average was 1,354,000 cu. ft. per well per day. On new wells the ratio of dry holes to completions was 19.61 per cent. On deeper drilling to other sands the ratio of failures was 12.I per cent. From an exploratory standpoint, one strictly new gas pool (Lorentz) was opened in Upshur County. Little forecast of its extent or reserve can now be made. The new extensions of various other previously discovered pools, however, give assurance of a new gas reserve that will equal approximately a year of gas demand. In addition to these definite supplies two widely separated Oriskany sand (L. Dev.) wildcats in Jackson County, one of which was completed late in 1940 and the other early in 194.1, may indicate two separate pools or may greatly extend known pools. In south-ern Kanawha County, also, an old Oris-kany-sand well deepened to the White Clinton sand (Sil.) showed a volume of 733,000 cu. ft. and rock pressure of 1800 Ib., giving rather clear assurance that this deep sand, in which only slight quantities of gas had previously been found, should eventually supply much new gas. On the other hand, various deep tests to the Oriskany sand in Harrison, Putnam, Randolph and Wood Counties were totally dry or gave only small volumes of gas, The principal oil wells completed, by counties, were: Calhoun, 15; Clay, Ir; Pleasants, 14; Ritchie, 15; and Roane, 7. Production for the year was estimated by the U. S. Bureau of Mines as 3,444,000 bbl., as compared to 3,684,000 bbl. in 1939. The leading counties in gas-well completions were: Boone, 36; Braxton, 17; Cabell, 25; Calhoun, 16; Clay, 22; Gilm.er, 47; Jackson, 38; Kanatvha, 77; Lincoln, 18; Putnam, 32; IGtchie, 40; and Wayne, 31, Production for the year is estimated by me as I70,000,000,000 cu. ft. as compared to I59,226,000,000 cu. ft.* in 1939. No long pipe lines were built but various gas-line extensions and cross connections,

Jan 1, 1941

By David B. Reger

The substantial expansion of previously discovered gas pools was the principal feature of petroleum activity in West Virginia during 1940. At least one new gas pool was discovered and various other successful wildcat completions may prove to be gas-pool openers. Some slight extensions of oil pools were also made. The new productive territory, principally gas, added by these extensions was approximately 33,800 acres. &apos; In general, oil activity was slight because of unfavorable crude prices. Gas activity, on the contrary, increased considerably, although the price of gas did not materially change. The account of operations, as gathered from trade journals and other reporting services, shows that 709 new wells were drilled, resulting in 102 new oil wells with I055 bbl. of daily new produc-tion; 468 new gas wells with 633>g47,000 cu. it. of daily open flow; and 139 dry holes. Also, 91 old wells were drilled to deeper sands, with 143 bbl. and 44,833,000 cu. ft. of added production. On the new wells the oil average was 10.34 bbl, per well per day; and the gas average was 1,354,000 cu. ft. per well per day. On new wells the ratio of dry holes to completions was 19.61 per cent. On deeper drilling to other sands the ratio of failures was 12.I per cent. From an exploratory standpoint, one strictly new gas pool (Lorentz) was opened in Upshur County. Little forecast of its extent or reserve can now be made. The new extensions of various other previously discovered pools, however, give assurance of a new gas reserve that will equal approximately a year of gas demand. In addition to these definite supplies two widely separated Oriskany sand (L. Dev.) wildcats in Jackson County, one of which was completed late in 1940 and the other early in 194.1, may indicate two separate pools or may greatly extend known pools. In south-ern Kanawha County, also, an old Oris-kany-sand well deepened to the White Clinton sand (Sil.) showed a volume of 733,000 cu. ft. and rock pressure of 1800 Ib., giving rather clear assurance that this deep sand, in which only slight quantities of gas had previously been found, should eventually supply much new gas. On the other hand, various deep tests to the Oriskany sand in Harrison, Putnam, Randolph and Wood Counties were totally dry or gave only small volumes of gas, The principal oil wells completed, by counties, were: Calhoun, 15; Clay, Ir; Pleasants, 14; Ritchie, 15; and Roane, 7. Production for the year was estimated by the U. S. Bureau of Mines as 3,444,000 bbl., as compared to 3,684,000 bbl. in 1939. The leading counties in gas-well completions were: Boone, 36; Braxton, 17; Cabell, 25; Calhoun, 16; Clay, 22; Gilm.er, 47; Jackson, 38; Kanatvha, 77; Lincoln, 18; Putnam, 32; IGtchie, 40; and Wayne, 31, Production for the year is estimated by me as I70,000,000,000 cu. ft. as compared to I59,226,000,000 cu. ft.* in 1939. No long pipe lines were built but various gas-line extensions and cross connections,

Jan 1, 1941

By Henry J. Sandri

ACQUISITION JUSTIFICATION There are many reasons why companies consider acquisitions as a means to expand their operations. Some wish to reduce the impact of business cycles on their businesses. Others seek firms within the same industry for expansion and increased market share. Still others diversify in order to avoid takeovers. Whatever the reasons or justification, an evaluation of an acquisition candidate should be systematic and thorough. To many financial managers the concept of a systematic acquisition evaluation indicates the need for a regular set of evaluation criteria. While these are available from numerous sources, one basic parameter frequently overlooked is the application of these criteria to an industry which is different from the acquirer. This becomes particularly important when evaluating firms within the mineral industry. The mineral industry is significantly different from other industries to require different valuing techniques. • This paper will present a number of reasons why an acquisition candidate in the mineral industry should be evaluated differently from other acquisitions, including by other mineral firms. Additionally, this paper will review the most appropriate means of valuing a mineral firm. • Firms considering the acquisition of a mineral firm should understand the nature of the industry before ever making a tender offer. Some of the general considerations include the following: • Level of Capital Intensity: In the mid-1980&apos;s the start up cost for a gold mine has been between 20-200 million dollars and 500-1,500 million dollars for a bauxite operation. • Global Nature of Competition: Except for certain industrial minerals, most minerals and metals are traded worldwide and many on national exchanges, such as COMEX. • Start-Up Time: Many mining operations in developed and developing countries have long lead times, 7 to 10 years in some cases, prior to the start-up of production. • Long Term Nature of Investment: For most mineral operations payback usually occurs at least 7 years after production has started. Additionally, many mining operations will continue producing for 80-100 years. • High Level of Risk: The number of factors that a mining firm cannot control such as grade, volume, world supply and demand, plus the long payback periods tend to classify mineral firms at a higher than average risk compared to other investments. • Cyclical Nature: The mineral industry is cyclical in nature, experiencing long troughs and explosive peaks, thus making timing a critical issue. • Labor Intensive: Even with the large capital requirements needed to operate a mine, most mines are labor intensive in proportion to their capital equipment. • Location: Obviously, the nature of this industry requires operators to work in difficult locations, frequently far from civilized localities, in poor weather conditions and without proper supply and distribution infrastructure. One of the most important considerations is an understanding of asset replacement and asset value. Unlike manufacturing concerns, firms in the mineral industry are working toward the elimination, through depletion, of their asset base. Product flexibility is not available to a mining operation. A mineral firm basically has two options as its resource base is depleted: 1) replace the asset with new production, or 2) deplete the asset and close down operation, as in the South African gold mining model referred to later in this paper. An understanding of the

Jan 1, 1985

By C. J. Sparks, J. C. Ogle, E. A. Starke

DEFORMATION of cold-rolled fcc metals and alloys produces one or the other of two types of rolling textures, usually referred to as the copper type or the brass type. The pure fcc metals, with the exception of silver, develop the copper-type texture when rolled at room temperature. Silver, brass, and many other alloys develop the brass-type texture. Transition from one texture type to another can also occur. Solute additions to pure copper cause a transition from the copper-type to the brass-type texture.&apos; Varying the deformation temperature also produces texture transitions. Copper rolled at -196°C developed the brass-type texture2 and silver rolled at elevated temperatures, 200°C, developed the copper-type texture.374 The work of Haessner,&apos; Smallman and Green,6 and Hu and coworkers3&apos;4 seems to have established an apparent correlation between the type of rolling texture (and the texture transition) and the stacking-fault probability. Thus materials with low stacking-fault energies are thought to develop the brass-type texture while high stacking-fault energy materials develop the copper-type texture. Mikkola and cohen7 measured by X-ray diffraction techniques the stacking-fault probability, a, in the ordered and disordered fcc alloy Cu3Au. Unexpectedly, ordered specimens showed about twice the stacking-fault probability as the disordered ones. Marcinkowski and Zwe118 also found stacking faults in ordered Cu,Au, but not in the disordered CusAu. More recently, Camanzi and coworkers9 have shown that the intrinsic stacking-fault energy of Cu3Au undergoes a considerable decrease (approximately 100 ergs per sq cm) when passing from the disordered to the ordered phase. In general, deformation reduces order&apos;&apos; but some of our measurements showed that some long-range order still remains in Cu3Au after cold reduction by rolling 80 pct. From the above considerations Cu3Au offers the possibility of studying the texture transition in fcc alloys without varying either the temperature or the composition. If the stacking-fault energy correlation is correct, an initially ordered alloy should develop the brass-type texture during rolling while a disordered alloy should develop the copper-type texture. The present communication describes some initial results of experiments designed to investigate this possibility. The rolling textures of ordered and disordered Cu3Au samples were determined after various amounts of deformation. The ordered sample had an initial long-range-order parameter of S = 1, determined from X-ray diffraction. The grain size of both the ordered and disordered samples was the same, and the initial textures of both were also identical and approximately random. No obvious differences in the deformation textures of the ordered and disordered materials were detected up to 35 pct reduction and the (111) pole figures of Fig. 1 resemble that of pure copper. However, with reduction larger than 35 pct and less than 50 pct, a marked deviation from the copper texture was noted in the ordered material. The newly developed orientation was close to the (110)[i12] ideal orientations re-

Jan 1, 1970

By T. D. Teimann, R. L. Stone

The rate of extraction of silica from certain Wisconsin and Minnesota taconites was investigated by autoclave digestion in sodium hydroxide solutions over the temperature range from 296° to 416°F. Rates obtained were from 7 to 254 g mol per cm2 per sec giving activation energies from 15,000 to 19.000 cal per mol. Activation energy was found to increase with increase of sodium hydroxide concentration. Digestion of different forms of quartz indicated the rate of extraction to be solely a function of surface area under similar conditions of digestion. The results of an experimental investigation on the caustic extraction of silica from certain Wisconsin and Minnesota taconites were presented in a recent publication.&apos; It was shown that residual concentrates containing as much as 65% iron can be produced by this method. The occurrence of silica as a micro-crystalline variety of quartz with high specific surface area gave correspondingly high mean rates of extraction in solutions of sodium hydroxide. The present paper extends this previous work by presenting the results of a study of the specific rates of extraction of silica from these ores as related to temperature, sodium hydroxide concentration and variety of quartz. Calculated activation energies for the dissolution of silica are presented and some possible mechanisms are discussed. TACONITES The low-grade siliceous iron ores investigated included taconite from the Wisconsin Gogebic range and a semi-taconite2 from the Minnesota Mesabi range. These are adequately described in the former paper1 and by the U. S. Bureau of Mines. The principal iron minerals are hematite (Fe2O3) and goethite (Fe2O3 . H2O), while the gangue is essentially a microcrystalline variety of quartz. Minor amounts of other minerals are present. Typical analyses show the Wisconsin taconite to contain approximately 28% Fe and 54% SiO2 and the Minnesota semi-taconite 39% Fe and 39% SiO2. Analyses of the actual samples used are given in Table I. The taconite samples were prepared for digestion by reducing the original ore to minus 200 mesh in a Braun pulverizer. QUARTZ Three varieties of quartz were studied in the investigation: Ottawa sand, chert and chalcedony. The Ottawa sand was obtained from the Ottawa Silica Co. The chert and chalcedony came from Wards Natural Science Establishment. A minus 200 plus 400 mesh fraction of the Ottawa sand, used as a surface area standard, was repeatedly washed in hot concentrated hydrochloric acid followed by distilled water before autoclaving. The other two varieties were used directly after grinding through 200 mesh in a laboratory hammer mill. Analyses of these samples appear in Table 11. Microscopic examination of the silica samples by the oil immersion method showed that the Ottawa sand consisted of clean, uniform spheres of quartz with little deviation in size from a mean diameter of 82µ determined by a distribution count. The other two varieties consisted almost entirely of microcrystalline aggregates of quartz crystals; the aggregates ranged from 10 to 70µ. The individual crystals in the chert aggregates were estimated to be of the order of

Jan 1, 1964

By H. R. Brannon, J. S. Osoba

The introduction of the scintillation counter into field use for gamma-ray well logging has provided a new tool with special utility for the deternzination of natural radioactivity of sediments. Previous subsurface gamma-ray measurements have indicated only the total amount of radioactivity of the sediments. With the scintillation counter, the relative amounts of the elements which emit gamma radiation can be determined. Sediments logged included 35 zones in wells located in the Teras Gulf Coast, East Texas, and West Teras. Although the data obtained from measurements made to date are not sufficient to evaluate the possibilities of spectral logging, it appears likely that spectral measurements will yield information of geologic value. INTRODUCTION Although variations in the natural radioactivity of sediments were recognized as early as 1909,1 the appli- cation of such variations to borehole logging was not made until almost 30 years later. A group of Russian workers in the early 1930&apos;s were successful in making crude measurements of natural gamma activity in an oil well borehole. The first practical gamma-ray logging system was developed by Howell and Frosch2 in 1939. Induced radioactivity, or neutron, logging appeared soon after the introduction of gamma-ray logging. After early work had demonstrated the potentialities of radioactivity logging, development of sensitive and stable logging equipment for field use followed, so that neutron and natural gamma logs are now run routinely and have proved to be extremely valuable in characterizing subsurface formations. Even though tremendous strides have been made in developing radioactivity logging, it is apparent that the ultimate in the method of logging has not been reached, for, until very recently1 in none of the commercially available logging systems has advantage been taken of the fact that gamma radiation is composed of a spectrum of rays, each ray having a distinct and characteristic energy. An individual gamma ray originates in a single element and has energy determined by the element. The inten- sity of radiation, or number of rays emitted from unit volume in unit time, is determined by the concentration of the element. If it were possible to sort out these gamma rays and assign them to their parent elements, thereby essentially analyzing for the elements, a wealth of new information descriptive of formation material and fluid content would be at hand. For example, if in natural gamma logging, the gammas due to potassium and to the thorium and uranium series were measured individually, data would thus be available on the concentrations of each of the three elements, adding materially to the information content of the log. In contrast, conventional gamma logs measure only a quantity proportional to the combined concentrations of uranium, thorium, and potassium. The naturally radioactive elements occur in sediments in concentrations dependent on source material of the sediment, and through their chemical characteristics, on conditions of deposition,&apos; so that the individual concentrations may be diagnostic for particular formations. These concentrations, particularly if measured in situ, could lead to a powerful tool for correlation and for reflecting environmental conditions under which sedimentation took place. As a correlation tool, individual uranium, thorium, and potassium measurements

Jan 1, 1957

By Douglas A. Karvonen

INTRODUCTION Although the economy in the Province of Saskatchewan has historically been agriculturally oriented, a major source of wealth has been realized through natural resources such as petroleum and natural gas, coal and uranium and since the 1960&apos;s - potash. Potash or potassium chloride, in the form in which it is presently produced in Saskatchewan, is used primarily as fertilizer, a source of potassium, one of three essential elements required for healthy plant growth, with about 5% of production sold to the chemical industry for use in such products as soap and liquid detergent, glass and ceramics, textiles and some pharmaceuticals. Saskatchewan is estimated to have approximately 40% of known world potash reserves and its ten active mines account for some 25% of annual world production. POTASH CORPORATION OF SASKATCHEWAN In an effort to guarantee a fair and lasting economic benefit to the Province of Saskatchewan, the Potash Corporation of Saskatchewan (PCS) was created on February 4, 1975 through an Order-in-Council under the Crown Corporation&apos;s Act and later on April 1, 1976, the Potash Corporation Act provided for its continuation. PCS was given the mandate to acquire ownership of a significant portion of the potash mining capacity in Saskatchewan and to establish an organization capable of operating the facilities, marketing the product, and conducting all of the other activities necessary for a successful corporation competing in the world potash industry. The corporation is the largest potash producing and selling organization in the Western World - or third largest in the world. (See also Figure 1). PCS through its wholly-owned subsidiary, PCS Mining, has acquired a whole or partial interest in five geographically distinct producing properties or divisions, representing today more than 40% of Saskatchewan&apos;s potash producing capacity. The acquisition of each division was followed by a program designed to exploit and maximize the particular opportunities at each minesite for increased production. To that end, PCS Mining has taken an active lead in expanding to meet future demand and has implemented expansion programs at all properties except for its Esterhazy Division where it has a long-term processing agreement with International Minerals & Chemical Corporation (Canada) Limited. Through its wholly-owned subsidiaries, PCS Mining, PCS Sales and PCS Transport, this provincial crown corporation has the ability to operate as a producer and marketer of Saskatchewan&apos;s potash. In certain instances PCS, the parent company, assists in the financing of various projects undertaken by the subsidiaries and in other cases the subsidiary involved arranges its own financing. POTASH RESERVES As a background to the specific issue of financing, it is helpful to describe briefly the nature of the deposit which supports the industry - our collateral, if you like. The potash beds underlying Saskatchewan are sedimentary rock deposits formed by the gradual evaporation of an inland sea during the Middle Devonian period roughly 400 million years ago. Now known as the Prairie Evaporite, this formation stretches from North Dakota and Northeast Montana through Southern Saskatchewan into North-Central Alberta. These beds lie at mining depths ranging from 950 - 1000m (3,000 ft) below the surface, where conventional mining methods can be used, and to 1,650m (5,000 ft), where solution mining must be

Jan 1, 1985

By W. Vickers

Single-point rotating cantilever fatigue tests have been carried out at 550" to 650°C on beryllium produced by a variety of fabrication routes. All the specimens gave similar plots of stress against number of cycles to failure but failure occurred at a lower stress range in the hot-pressed material than in the extruded material. A discontinuity or "kink" appears to exist in the curves and this is considered. A true endurance limit was not evident up to 10 cycles. When Brush hot-pressed warm-extruded beryllium was tested at 600oC a relationship where Nf = number of cycles to failure, ?ep = plastic strain range, and c = constant, was shown to be applicable for values of ?ep > 6.3 x 10-4. Further for this moterial and temperature and for frequencies between 150 and 4500 cycles per min, the variation of number of cycles to failure with frequency obeyed the expression N = Af0.44 where N =number of cycles to failure, f = frequency, and A = constant. Examination of the fracture surfaces indicated that they were generally intergranular and in all cases the higher the stress the more irregular was the fracture. Microexamination has shown that grain boundary cavities and fine intergranular cracks were associated with the fractures. REVERSING or cyclic stresses set up in fuel elements can lead to failure by fatigue. Fatigue stresses may be developed by instability of the fuel element in the coolant flow leading to rattling against the channel wall or fin vibration. Thermal cycling also sets up reversing stresses due to differential expansion of fuel and can. Fatigue resistance is of some importance therefore in the evaluation of canning materials. At the time the work described in this paper was initiated, beryllium was being considered for the can and endcaps of an advanced gas-cooled reactor fuel element. With this in mind, beryllium obtained from different manufacturing routes was tested on single-point rotating cantilever fatigue machines at temperatures the same as those envisaged in the reactor to obtain appropriate fatigue data. The results obtained indicated a discontinuity in the S-N curves coinciding with the yield stress in the specimens. Although in some cases the data is insufficient to warrant a detailed quantitative analysis, a qualitative analysis of this effect was thought to be justified. 1) EXPERIMENTAL DETAILS The materials used are given in Table I together with the production route and available analyses. The specimen shape is shown in Fig. 1. The fatigue specimens were machined slightly oversize, after which they were given a stress-relieving anneal of 1 hr at &apos;750° C in vacuum. This was followed by an etch in sulfuric-phosphoric-chromic acid mixture down to the finished dimensions given in Fig. 1. Etching served to remove the interference colored oxide film formed on the surface during annealing and very small recrystallized surface grains too. The specimen was mounted in the grips of a cantilever machine and rotated inside a furnace controlled at the testing temperature. The specimen was loaded in increments as the speed was increased until the required load was applied at 5000 cycles per min. A revolution counter was used to record the total number of cycles.

Jan 1, 1964

By J. Trevor Eyton

This paper addresses some of the financial risk hedging mechanisms available to a corporation contemplating entering the mining business at a significant level of investment. The approach which I have adopted is that of a case study relating to the risk hedging aspects of Brascan Limited&apos;s acquisition of 46% of Noranda Inc., formerly Noranda Mines Limited, followed by some remarks on options open to mining companies for reducing financial risks. To appreciate the rationale for Brascan committing over (Can.) $800 million to the natural resource sector, some knowledge of Brascan&apos;s parent company, Edper Investments Ltd., is required at the outset. Edper Investments, prior to acquiring a 48% interest in Brascan, controlled Trizec Corporation, one of the world&apos;s largest property companies. Edper also was involved in the financial services sector through Continental Bank of Canada and Hees International Corporation. For some considerable time prior to Edper&apos;s investment in Brascan, Edper felt a need to provide a better balance to its portfolio of property and financial services. Brascan was rich in cash, relatively unleveraged, and with important existing holdings in natural resources and consumer products. The acquisition of a controlling interest in Brascan provided an opportunity to balance Edper&apos;s portfolio of property and financial services with world class acquisitions in natural resources, supplemented by consumer products and financial services. The end result of Brascan&apos;s activities over the last few years is illustrated by the following analysis of the book value of Brascan&apos;s assets at the end of December 1983. [Can.$% Millions _ Natural Resources81748 Consumer Products 654 38 Financial Services 157 9 Other Operations895$1,717100% ] Source: Brascan 1983 Annual Report. The large emphasis on natural resources came about from the fact that for Canadians operating mainly in Canada, natural resources were attractive. We were impressed by Canada&apos;s position in the world natural resource industry as illustrated by some of the following statistics: [CommodityCanadian Estimated Production In 1983 As % of World Total Newsprint 30 Potash 21 Uranium 18 Molybdenum 17 Zinc 17 Pulp 16 Nickel 16 Saw Logs 11 Silver 8 Copper 7 Lead 6 Gas 5 Oil3] Source: U.S. Bureau of Mines and Brascan estimates. In addition, the quality of Canada&apos;s reserves looked good to us. The polymetallic nature of many of Canada&apos;s orebodies offered a hedge against risk relating to any one metal. Put another way, the by-product metal credits offered a net operating cost advantage with respect to many of the metals mined. Our energy costs also appeared to provide Canada&apos;s natural resource industries with an advantage. We considered Canadian mining expertise as amongst the world&apos;s finest, as were the exploration equipment and technology developed in Canada. In addition, Canada offered a stable political climate and one we knew. Further, we felt the Canadian Government&apos;s future role in the industry would, on balance, be benign, partly because the Canadian content of the mining industry was very high in contrast to the petroleum industry. Granted, we could find cheaper sources of copper; however, to do so would involve venturing into regions where country risks were higher.

Jan 1, 1985

By M. G. Cheney

Careful estimates indicate that during 1942 new discoveries and extensions in West Central Texas added oil reserves slightly in excess of the eight million barrels produced. Drilling activity fell 40 per cent below 1941 and 82 per cent below the normal drilling activity of the late 1920&apos;s. Total production for the district continued its downward trend, now being less than % of the 42.7 million barrels peak in 1921. Rapid revival of activity is not probable under existing conditions, as costs of discovery, development and operations on the average probably now exceed current market price for the oil, the latter having remained constant since the spring of I941. Costs have advanced materially since the third quarter of 1941, when reports to the Tariff Commission indicated a margin of profit of 13.3 per barrel. Physical as well as economic conditions are holding back the amount of drilling in this district. The lenticular sands are not suited to 40-acre spacing regulations. There is no surplus of experienced oil-field labor. To reduce costs, much second-hand material is used for all except the deeper wells.. Price controls have retarded movement of used equipment by prescribing maximum prices that arc too low for the better grade materizl, thus making , owners reluctant to sell. On the other hand, buyers are unwilling to pay ceiling prices asked by sellers for poor material. Seventeen new oil fields and five new gas fields were found during 1942. Extensions and deeper &apos;drilling brought favorable results in eight older fields. The most significant new developments appear to have been in Coleman, Jones, Shackelford and Taylor Counties. A 5800-ft. completion in Wise County brought this county into the producing column for the first time. None of these new discoveries can he rated above one million barrel reserve on the basis of present development. Probably the most important development was discovery of a deeper pay (Gunsight lime) in the Wimberly field of Jones County, which shows promise of producing over an area of about 1000 acres. Jones and Shackelford Counties still lead the district in total annual production. Discovery of the Reddin pool, north central Taylor County, is credited to geochemical methods, making one success out of five or more wildcats based on such methods. Geophysical surveying increased decidedly during 1942 and returns from these studies are expected during coming years. Most of the wildcatting in the district is still based on surface and subsurface geological structural mapping, study of log data as to distribution of prospective producing reservoirs, and drilling in proximity to previous showings of oil and gas. Geological debate continues as to the proper correlation of the 100 to 300 ft. of gray lime that has produced more than 100 million barrels in the Parks, Brecken-ridge, Curry, Eliasville, Ibex, Pioneer and other important fields of this district. Fossils indicate that this limestone is younger than the Atoka beds of Oklahoma. On a structural basis most geologists include this formation with the Bend but a number of paleontologists believe it is more properly classified with the Strawn.

Jan 1, 1943

By M. G. Cheney

Careful estimates indicate that during 1942 new discoveries and extensions in West Central Texas added oil reserves slightly in excess of the eight million barrels produced. Drilling activity fell 40 per cent below 1941 and 82 per cent below the normal drilling activity of the late 1920&apos;s. Total production for the district continued its downward trend, now being less than % of the 42.7 million barrels peak in 1921. Rapid revival of activity is not probable under existing conditions, as costs of discovery, development and operations on the average probably now exceed current market price for the oil, the latter having remained constant since the spring of I941. Costs have advanced materially since the third quarter of 1941, when reports to the Tariff Commission indicated a margin of profit of 13.3 per barrel. Physical as well as economic conditions are holding back the amount of drilling in this district. The lenticular sands are not suited to 40-acre spacing regulations. There is no surplus of experienced oil-field labor. To reduce costs, much second-hand material is used for all except the deeper wells.. Price controls have retarded movement of used equipment by prescribing maximum prices that arc too low for the better grade materizl, thus making , owners reluctant to sell. On the other hand, buyers are unwilling to pay ceiling prices asked by sellers for poor material. Seventeen new oil fields and five new gas fields were found during 1942. Extensions and deeper &apos;drilling brought favorable results in eight older fields. The most significant new developments appear to have been in Coleman, Jones, Shackelford and Taylor Counties. A 5800-ft. completion in Wise County brought this county into the producing column for the first time. None of these new discoveries can he rated above one million barrel reserve on the basis of present development. Probably the most important development was discovery of a deeper pay (Gunsight lime) in the Wimberly field of Jones County, which shows promise of producing over an area of about 1000 acres. Jones and Shackelford Counties still lead the district in total annual production. Discovery of the Reddin pool, north central Taylor County, is credited to geochemical methods, making one success out of five or more wildcats based on such methods. Geophysical surveying increased decidedly during 1942 and returns from these studies are expected during coming years. Most of the wildcatting in the district is still based on surface and subsurface geological structural mapping, study of log data as to distribution of prospective producing reservoirs, and drilling in proximity to previous showings of oil and gas. Geological debate continues as to the proper correlation of the 100 to 300 ft. of gray lime that has produced more than 100 million barrels in the Parks, Brecken-ridge, Curry, Eliasville, Ibex, Pioneer and other important fields of this district. Fossils indicate that this limestone is younger than the Atoka beds of Oklahoma. On a structural basis most geologists include this formation with the Bend but a number of paleontologists believe it is more properly classified with the Strawn.

Jan 1, 1943