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By John E. Sweet

There have already been so many subjects of a purely mechanical nature presented to the Institute of Mining Engineers, that it is unnecessary for me to apologize for adding another to the list. When a new invention, or what is supposed to be a new invention, claiming simply an improvement on the well-known devices, is to be described, it is usual to point out the defects of the old and give a history of the object or the art up to date. But, as no doubt a large proportion of the members of this Institute know as much, or more, about the history and use of the steam-engine indicator than I do myself, I will not further preface the subject, than to remind you that what called for the Richards's improvement on the Watt's indicator was high speed; that the leading improvement was the reduction of momentum in the reciprocating parts; and that this was accomplished by making the parts lighter, and reducing the travel of the heaviest, of them, and consequently the speed and momentum. The use of the indicator has been extended, for the speed of steamengines and other prime movers has been increased, until one engineer at least, John Cooper, of Philadelphia, says, "I want an indicator that will work up to a thousand revolutions." .Mr. Thompson, of the Buckeye Steam-Engine Company, of Salem, Ohio, has improved on the Richards's indicator by another reduction in the momentum, which is done by putting the parallel motion nearer the fulcrum of the pencil arm, reducing both weight and travel. The characteristic feature of the indicator I am going to illustrate is a still further reduction in the same direction, which is accomplished by dispensing with the parallel motion altogether. As is often the. case, in putting a simple idea into shape, some difficulties

Jan 1, 1879

By William F. Ward

One often reads of the rich placer gravels in many of the citnoe-trav-elqd rivers of South America. The apparent richness of these gold-bearing gravels impresses the traveler, and in fact he may see batea after batea showing enough colors to figure over a dollar per cubic yard. These workings are called "playas" from the Spanish word playa, meaning shore or beach. Many workings have been reported in tropical rivers, but to my knowledge no dredge has made a success in such deposits. Investigation generally shows that the area of richness is limited and especially that the depth of the rich concentration is hardly ever more than a few inches. The Cauca river in Colombia, South America, is noted for its many rich playas. This river rises near .Popayan in the southern part of Colombia, flows north through a narrow valley between parallel mountain ranges and empties into the Magdalena river near Maganque. , The airline distance between source and mouth of this river is only about 500 miles. The rainfall is large and the lower Cauca appears to be about the size of the Missouri river in the United States. From its mouth up to Valdivia, in the State of Antioqua, it is navigable. Above Valdivia is a narrow gorge, above which the river is again navigable for some distance. The part of the Cauca where the play a panning is most noticeable is from Valdivia down to where the Nechi river enters the Cauca, a distance along the river of about 100 miles. The current in this part is swift, so that the stern-wheel river steamers make the trip with some difficulty. In the course of my work in this section of Colombia I have had the opportunity to make a study of several of these play a workings and will give in detail the conditions observed. The Island"Playa" The richest of the island playas is about 40 miles below Valdivia and a little below the old town of Caceres. The shape of the river and the location of the deposit are shown in Fig. 1, which indicates the condition at low water. The river at this place is about 600 ft. wide and the island about 75 ft. wide by 300 ft. long. The island is made up of coarse pebbles, some of which are as big as a man's head. In times of high water this island is under several feet of water and in a swift current. When the river lowers the current is still fast enough to prevent sand or silt from covering the coarse pebbles.

Jan 1, 1915

By Charles A. Kumke

THE "slot" system of mining in use at the Golden Queen mine, Mojave, Calif., does not involve any new mining methods. It is, however, a new combination and adaptation of several stoping systems in common practice. The first plans for stoping operations at the Golden Queen mine called for ordinary shrinkage stopes. The hanging wall of the vein, where exposed, is a very hard felsite with a dip varying from 50º to 70º. The vein itself is quartz, shattered and fractured enough to make it easy to drill and blast to a clean hanging wall. There is no well defined footwall. The footwall limits had to be determined by assays as the metal content faded out into the felsite. Two shrinkage stopes, each approximately 200 ft. long, were laid out and started on the 200-ft. level. One of these stopes, varying in width from 8 to 18 ft., was carried on up to the top limits of the ore, approximately 120 ft., without a break in the operation. The shrinkage system proved entirely satisfactory and low costs resulted from this operation. In the final drawing of this stope, two timbermen followed down on the ore, scaling the hanging wall clean of small fragments and placing an occasional long stull from foot to hanging wall where it was deemed necessary. Few such stulls, however, were required. The hanging wall stood up very well until the stope was entirely emptied of ore. Waste fill was then put into the stope by the glory-hole method, through a waste raise that had previously been run to surface from the middle of the stope. The second shrinkage stope ran into difficulties about 35 ft. above the sill floor. Up to this point the maximum width of the ore had been about 15 ft. The ore suddenly widened into the footwall to a distance of 40 ft. in the north end of the stope. In extending the stoping operations over this width, it was soon found that the vein material would not arch and support itself. Drilling in this end of the stope was then entirely too hazardous, and all operations were stopped. The ore was drawn through the chutes below as rapidly as possible and as soon as the stope was entirely

Jan 1, 1937

By John R. Weeks, Dan McLachlan, John R. Lewis

DURING the operation of the iron blast furnace, aggregates of hard, infusible, yellow, cubic crystals frequently form in the interstices of the lining and on the hearth of the furnace. These were first examined by Wohler&apos; and were identified by him as a complex cyanonitride of titanium, having a formula Ti(CN)2 • 3Ti3N2, or more simply Ti10C2N8. However, recent investigators have suggested that this complex compound does not exist. Recent work by Hume-Rothery, Raynor, and Little2 on the carbide and nitride particles in titanium steels suggests that a complete series of solid solutions of the general type Ti<0+y>C0Ny exists between titanium carbide (Tic) and titanium nitride (TiN). Assuming this to be true, it seems likely that Wohler&apos;s cyanonitride of titanium is in reality a solid solution of 20 mol pct Tic in 80 mol pct TiN, .the nearly consistent carbide-to-nitride ratio probably resulting from temperature and pressure conditions in the blast furnace. The object of the present work was to investigate thoroughly this possibility of a solid solution by using the single-crystal methods of X-ray analysis. A spectrographic qualitative analysis of a sample of the yellow crystals furnished by the Geneva Steel Co. sh&apos;owed, in addition to the titanium, strong lines of vanadium and moderate to weak lines of iron, magnesium, silicon, aluminum, and calcium. The last five were probably slag impurities, but the vanadium was possibly included in the yellow crystals, owing to a great structural similarity of its carbide (VC) and its nitride (VN) to the titanium compounds, Table 11. A chemical analysis was made

Jan 1, 1952

By T. P. Meloy

Economic constraints require that the optimum mineral processing circuit be chosen for a given ore and then the circuit be optimized. Meloy (1983) developed a general methodology for finding the best circuit for a given ore. This analysis, however, did not specify a way to optimize the best circuit once it has been found. To optimize a given circuit, it is necessary to find the optimum set points for each unit operation in the circuit. Developed in this paper is a simple, general equation which, when applied, defines the optimum separation set point for the maximum mineral grade. This general equation, Equation (4), applies not only to simple ores, but also to complex ores containing variable and locked particles. Currently, the optimum set point can be calculated only for heavy media and cyclone circuits, because they are the only unit operations for which the necessary data has been measured.

Jan 1, 1984

By N. T. Cotman, C. H. Pickering, P. B. Crawford

A beat-conduction model has been developed to study the flow of fluids in a stratified oil reservoir which is being subjected to unsteady-state depletion. To simulate stratification, plates of different metals were joined together so that cross flow could occur between strata. A description of the model, plate construction and necessary instruments is included. The data indicate that stratified oil reservoirs experiencing cross flow may be treated as a single, homogeneous, producing sand having properties intermediate between those of the layers making up the system. A technique for averaging core-analysis data to arrive at the proper average value of rock permeability and porosity is presented INTRODUCTION Although oil has been produced from reservoirs for 100 years and reservoir injection processes have been undertaken for 40 years, the industry is still inadequately informed on the problem of reservoir inhomogeneities. Stratification is perhaps the best-known type of reservoir heterogeneity. Urenl discussed the possible significance of this nonuniformity in his 1927 paper on the theoretical aspects of water flooding. Since this time the problem of vertical permeability variations has been the subject of much discussion and numerous papers. Levorsen2 simply describes the origin of layered beds in his Geology of Petroleum. Some beds are field-wide and may be traced from well to well, while others apparently pinch-out and become discontinuous. In addition, the physical characteristics of a layer may vary from place to place. For these reasons, a stratified system is not easily defined. In calculations involving oil reservoirs in which permeabi1ities vary, methods presently used contain many simplifying assumptions. The reservoir frequently is considered as consisting of permeable layers, each of uniform vertical and lateral permeability and each behaving as if separated from adjacent layers by thin impermeable layers. Other assumptions frequently made in reservoir calculations are steady-state flow conditions, unit mobility ratio, linear geometry, average or homogeneous porosity, and negligible capillary-pressure and gravity effects. Muskat3 has. developed solutions to the stratification problem for mobility ratios other than unity for both linear and exponential permeability distributions. He assumes lateral uniformity and continuity of all productive strata and does not consider porosity. This study will take into account transient effects, cross flow and varying porosity, as well as the variations in permeability, by means of a heat analogy. Muskat5 has shown the similarity of the equations which describe the flow of fluids in a porous medium to the flow of heat through a solid. Landrum, et al,6 made an analogy between the flow of fluid in an unsymmetrical reservoir and the conduction of heat in a similarly shaped metal plate. This analogy is summarized briefly as follows. If fluid is produced from an oil reservoir above the bubble point, the resulting pressure distribution will be identical to the temperature which would result in a metal or heat-conducting plate if heat were similarly removed. This means that a study of heat flow in stratified thermal models will behave like fluid flow in stratified oil reservoirs. For mathematical correspondencies, set- Ref. 6. The fluid mobility k/p is proportional to the thermal conductivity, and the porosity-times-compressibility product is proportional to the density times specific heat of the thermal plate. EXPERIMENTAL EQUIPMENT AND PROCEDURE The stratified reservoir model used in this study is illustrated schematically in Fig. 1. A Leeds and Northrup Speedomax Type G temperature recorder

By Robert M. Dreyer

Diamond is the hardest known material. The diamond industry is separated into two major segments: (1) industrial and (2) gem. The major industrial use of diamonds is as a high-grade abrasive in a wide variety of applications for which no effective low-cost substitute is available. Table 15.4C.1 gives data on diamond production and on United States diamond imports. In both gem and industrial diamond production, but especially in the case of gems, the quantity of stones produced is not directly correlated to value, for the determination of value is markedly affected by quality. South Africa long has been the world leader in gem diamond production with an estimated production in 1968 (including South-West Africa) of about 4 million carats, equal to 43% of world production. During the past decade there has been a marked rise in gem diamond production in the USSR, so that nation is now the second-ranking world producer, with Angola (Portuguese West Africa) third. In natural industrial diamonds, the major production comes from Congo-Kinshasa (former Belgian Congo) which had a production of 15 million carats in 1968, equal to 47% of world production. In the past six years, there has been a remarkable increase of industrial diamond production in the USSR, which now ranks second with a production of 6 million carats, equal to about one-fifth of world production. South Africa now ranks third followed by Congo-Brazzaville and Ghana. No natural diamonds are produced in the United States. Since the discovery of an economical method for synthesizing small diamonds, there has been a rapid increase in synthetic production from 4 million carats in 1962 (1 carat equals 200 mg) to 11.5 million carats in 1968. Table 15.4C.1 gives the gradually increasing imports of industrial diamonds and indicates a relatively stable price. In 1968, the imports of industrial diamonds were 13.5 million carats with a value of $59.2 million. Table 15.4C.2 shows the rapidly increasing imports of cut and uncut gem diamonds into the United States. In 1968 the United States imported 2.5 million carats of uncut stones with a value of $166 million and 1.5 million carats of cut stones with a value of $175 million. Diamond marketing is dominated by DeBeers Consolidated Mines, Ltd., which, through subsidiaries, controls many of the major African diamond deposits. More important economically, however, through its Central Selling Organization, DeBeers markets 86% of the non-Communist world&apos;s natural diamonds, including most of those derived from deposits outside of corporate control. In 1967 the mines owned by DeBeers produced nearly 8 million carats, and the Central Selling Organization sold over $600 million in gem and industrial diamonds. The dominance of diamond sales by

Jan 1, 1976

By S. A. Ronlov

The importance of recognizing vibration problems during the plant design stage is emphasized in this paper. Often an experienced designer can recommend what type of support to use and how to tune the structure. However, obtaining sufficient information is a serious problem dealing with vibration. Vibration is a well known phenomena which, simply and generally, can be defined as a periodic motion. It is experienced in nature as caused by eerth- quake, wind, or ocean waves, and must be dealt with in the design of structure or ships. It must be realized that wherever there are moving or rotating elements, it is possible that unbalanced forces may induce vibration in the elements themselves, in adjacent parts, or in the supporting structure. Under certain circumstances, vibration will destroy machines or structures quickly and totally. The most widely known case is the total collapse of the Tacoma bridge when subjected to a wind of only 42 mph. Failures due to vibration of machines and/or their supports may occur in industrial plants where heavy equipment employed in the process must be supported and several machines are combined in close proximity. In the Metallurgical and Chemical Div. of The

Jan 1, 1962

By George Fancher, R. L. Whitting

A typical drilling mud from the Hastings oil field, Brazoria County, Texas, containing only 8 per cent (dry basis) of material of colloidal dimensions, which is largely illite, was concentrated to a density of 10.2 lb. per gal. and used in this study. The effects of water dilution, treatment with complex polyphos-phates, temperature and the time of heating upon the rheological properties of the mud were investigated. It was found that water plays an important part in chemical treatment and that sodium acid pyrophosphate and sodium tripolyphosphate were more efficient than other complex polyphosphates for chemical treatment. Muds treated with either of these chemicals manifested maximum reduction in viscosity and minimum filtration rates at low concentrations. Furthermore, .mud treated to minimum viscosity with either of these two chemicals was virtually unaffected by heat-treatment. Introduction The drilling of deep wells is dependent upon the use of drilling mud, and problems frequently arise concerning the effects on mud of temperature, prolonged heating and aging. The use of chemicals to control the rheological properties of mud is a well-established practice. Salts of weak organic acids such as sodium tannate or gallate were used at first until the complex phosphates of sodium were found to be more efficient. Consequently, it seemed important to investigate the reaction of a mud to chemical treatment with phosphates, temperature, heat-treatment and aging, particularly since previous work in the laboratory at the University of Texas had provided the particle-size distribution and mineral composition of Hastings mud. Properties or Mud Used in Experiments A large sample of the mud from a drilling well in the Hastings field, Brazoria County, Texas, was obtained directly from the circulatory system. Some of the general physical characteristics of the mud and other data are presented in Table I. Table i.—General Properties of Hustings Drilling Mud Alex- Cur-ander keet Well Well Depth when sample was taken, It.. 5720 5700 Weight. lb. per gal............... 9.5 0.8 Viscosity, sec. A.P.I.............. 47 60 Viscosity, Stormer, grams......... 80 Viscosity, centipoises............. 13 Filtration rate, c.c. per 30 min.a. . . 19.6 22.8 Salt content (chlorides), per cent... 0.13 0.12 pH............................. 8.9 8.9 The Alexander mud was used for the experimental work. Comparison with Curkeet mud indicates a considerably greater dilution but otherwise suggests similarity. The mineral composition and particle-size distribution of Curkeet mud (Table 2) are available (Fancher and Oliphant6). It is suggested that Alexander mud would have a similar composition.

Jan 1, 1943

By R. L. Whitting, George Fancher

A typical drilling mud from the Hastings oil field, Brazoria County, Texas, containing only 8 per cent (dry basis) of material of colloidal dimensions, which is largely illite, was concentrated to a density of 10.2 lb. per gal. and used in this study. The effects of water dilution, treatment with complex polyphos-phates, temperature and the time of heating upon the rheological properties of the mud were investigated. It was found that water plays an important part in chemical treatment and that sodium acid pyrophosphate and sodium tripolyphosphate were more efficient than other complex polyphosphates for chemical treatment. Muds treated with either of these chemicals manifested maximum reduction in viscosity and minimum filtration rates at low concentrations. Furthermore, .mud treated to minimum viscosity with either of these two chemicals was virtually unaffected by heat-treatment. Introduction The drilling of deep wells is dependent upon the use of drilling mud, and problems frequently arise concerning the effects on mud of temperature, prolonged heating and aging. The use of chemicals to control the rheological properties of mud is a well-established practice. Salts of weak organic acids such as sodium tannate or gallate were used at first until the complex phosphates of sodium were found to be more efficient. Consequently, it seemed important to investigate the reaction of a mud to chemical treatment with phosphates, temperature, heat-treatment and aging, particularly since previous work in the laboratory at the University of Texas had provided the particle-size distribution and mineral composition of Hastings mud. Properties or Mud Used in Experiments A large sample of the mud from a drilling well in the Hastings field, Brazoria County, Texas, was obtained directly from the circulatory system. Some of the general physical characteristics of the mud and other data are presented in Table I. Table i.—General Properties of Hustings Drilling Mud Alex- Cur-ander keet Well Well Depth when sample was taken, It.. 5720 5700 Weight. lb. per gal............... 9.5 0.8 Viscosity, sec. A.P.I.............. 47 60 Viscosity, Stormer, grams......... 80 Viscosity, centipoises............. 13 Filtration rate, c.c. per 30 min.a. . . 19.6 22.8 Salt content (chlorides), per cent... 0.13 0.12 pH............................. 8.9 8.9 The Alexander mud was used for the experimental work. Comparison with Curkeet mud indicates a considerably greater dilution but otherwise suggests similarity. The mineral composition and particle-size distribution of Curkeet mud (Table 2) are available (Fancher and Oliphant6). It is suggested that Alexander mud would have a similar composition.

Jan 1, 1943

By W. J. Reagan

In a study of the life of ingot molds, it is essential to eliminate all of the variables. In the commercial manufacture of steel this is almost an impossibility. In this study many of the variables have been eliminated, and because of the unusually consistent furnace practice, with small variations in the type of steel manufactured, and a similar type of mold design for all ingot sizes, it is possible to determine with some degree of accuracy the cause of variations in ingot-mold life. All of the ingot molds in this study were used in the production of basic open-hearth killed steel with chemical analyses within the following range: C, 0.50-0.85 per cent; Mn, 0.60-0.80; Si, 0.20-0.30; S, 0.04 max.; P, 0.04 max. All ingot molds were of the closed-bottom type and used for bottom casting only. None of the molds in the study failed from cutting of the sides due to top casting; in fact, on only rare occasions are any molds used for top casting. The general type of this mold is shown in Fig. 1. All sizes have rather a heavy band of metal, about 6 in. wide, at the top to give mechanical strength at this point, and all have cast lugs. Cross sections of the various sizes from top and bottom sections are shown in Fig. 2. Ratios of wall thickness to ingot weight, ratio of ingot diameter to ingot length, and other figures of interest are shown in Table 1. In the majority of cases, the cause of failure in this type of mold is due to heavy fire cracking on the "flats" at a point from 3 to 6 in. from the bottom radius of the mold. Fig. 3 pictures this type of failure. The start of failure at these points usually begins with a very small section of the interior surface becoming involved. As a rule, a section of 1 or 2 sq. in. is the first noticeable indication that mold failure is taking place. Gradually the small section increases until a sizable cavity develops, causing a protuberance on the bottom of the ingot, which eventually becomes too large to be stripped. The mold is then removed from service. At the time of failure, this cavity often reaches a size of about 5 sq. in. and about 1/2in. deep. Sometimes cavities are found on only two or three sides and at other times all twelve sides appear to be invoIved.

Jan 1, 1937

By Thomas M. Turner

Open pit mining, always a demanding task, faces two relatively new problems today: (1) availability of equipment and (2) environmental restrictions. The modern dredge offers relief in both problem areas. Delivery on a major dredge might run 18 to 24 months rather than 60 months; and lowering of the water table is precluded, thus minimizing environmental objections. In addition, a lower first cost and potentially increased efficiency may offer real advantages to the miner who is forced away from his traditional mining methods. What are the objections to the use of a dredge in open pit mining? Perhaps first and foremost is the natural reluctance to change from a successful operation. Who can blame the miner who has developed expertise in the use of the dragline if he is reluctant to change to a new mining technique that requires new and different skills? A part of the same problem is the miners&apos; desire to control the excavation visually in order to delineate sharply between overburden and matrix. This problem can be alleviated significantly by utilizing good boring data and a positive acquisition cutter. In the final analysis, however, if the miner is prohibited from dewatering the area, either he mines the deposit by dredge or not at all. There is little doubt that when the decision is made to remove overburden and/or matrix by dredge, the problems of delineating between overburden and matrix, creation of slimes, and development of mining plans to minimize double handling etc., will be addressed and solved. There are two broad categories of dredges: mechanical and hydraulic.

Jan 1, 1976

By A. G. Raine

For the technological age in which we live, with the constant goal of further improvement in the efficiency of mechanized systems, the need for a replacement of the antiquated drill and blast method of shaft construction has been recognized. For over a decade now; the trend in shaft construction has been toward large diameter bored shafts using either raise boring methods or more flexible, rodless "down the hole" boring machine. The limits of conventional shaft sinking have been reached, the mining regulations are more stringent, and the environmental agencies more aggressive, all contributing to the growing need for development of the rodless shaft boring machine. In the last three years in the United States, world shaft construction records have been achieved using a V-Mole machine, designed by Mirth GmbH of West Germany, using American electrics and hydraulics. Shafts of 7.0 meters (23 feet) diameter, totaling 2,255 meters (7,400 feet) in depth have been constructed at high advance rates, yet with unusually low accident rates. Bearing in mind the high cost of today&apos;s mining labor and the inherent danger associated with conventional shaft sinking, this alternative method of shaft construction achieves a fast, competitive, low manpower requirement, whilst enhancing a safer environment for the labor force. Recent results have proven that program time savings of 50 percent over conventional shaft sinking can be achieved which can be directly translated into improved client cash flow projections and more accurate project budgeting.

Jan 1, 1984

By Gen-Hua Shi, Richard E. Goodman

In hard, discontinuous rocks, failure modes and stability are controlled to a great extent by the intersection of discontinuities with the excavated surface. We have solved the general problem of finding the shape and size of all blocks formed through the inter- section of any number of joints and excavation surfaces and will demonstrate a simple graphical method for determining which of these is the "keyblock." An example will explain this methodology applied to a simple open pit. The effects of slope curvature in plan or section, will be demonstrated. Finally, we will show how to determine the optimum orientations for the cut slopes. The methodology is based upon a powerful topologic theorem concerning the finiteness of spatial intersections. This paper is a companion to another dealing with underground openings in the Proceedings of the 22nd Symposium on Rock Mechanics (MIT) , July 1981. This paper discusses the rock blocks created by the intersection of discontinuities and excavation surfaces in a rock mass. It establishes principles and procedures by means of which those blocks that are finite and critically located can be identified and described. The main assumptions are the following: 1. The rock itself is assumed to be strong so that the only concern for stability is the movement of rock blocks them- selves.

Jan 1, 1983

By S. D. Brady

In Monongalia County, West Virginia, the Pittsburgh and Sewickley beds lie west of the Monongahela River and underlie practically all the western end of the county. The average thickness of the Pittsburgh bed is 8 ft., where it is being mined at present, sometimes running up to 9 ft. The Sewickley bed is 4½ to 6 ft. thick and lies 90 to 100 ft. above the Pittsburgh bed. As the Pittsburgh bed had a known value, a large part of it was bought up without consideration of the Sewickley bed. When the Monongahela Railway was built up the west side of the Monongahela River, other interests bought up the Sewickley bed, as it was found to be equal in quality to the Pittsburgh, with slight local exceptions. The two beds, therefore, were owned by different people, and naturally each owner opened his mine and ran it without regard to the working of the other bed. Consequently, considerable portions of the upper bed were seriously affected for economical mining, especially on Scotts Run. In recent years there has been a tendency, influenced by the decision of the West Virginia Supreme Court, on the part of the operators in Monongalia County to try to coordinate their projections in the layout of their mines. A typical geologic section, according to the report of the West Virginia State Geological Survey on Monongalia County, agrees with Fig. 1. It is apparent that the rock above the Sewickley bed and between the Sewickley and Pittsburgh beds is of a rather friable ~lature, therefore it is easily broken in pillaring. About the only difference between this section and the geologic section in the Lowsville district is that in the latter district the rock between the coals is a denser sandstone and contains little shale and limestone and no evidence of Redstone coal. It is a laminated sandstone, and although it makes a harder mass, it is easily broken. While working in the Lowsville district, the author had an opportunity to examine a neighboring mine in the Sewickley bed, which was over a section being pillared in the Pittsburgh bed. The two mines belong to dif-

Jan 1, 1931

By William H. Spice

The year 1942 in the South Central Texas area was marked by a sharp curtailment of exploratory drilling as compared with the past several years. In the 33 counties that compose this district, 17 of which are nonproducing counties, only 51 exploratory wells were drilled during the year 1942. This compares with 118 exploratory wells drilled during 1941, or a decrease of more than 50 per cent. At the end of the year 10 active exploratory wells were drilling in this area, as against 19 being drilled at the end of 1941. Of the exploratory wells drilled, two brought in oil wells and were new field discoveries and one was a gas well extending a recently discovered shallow gas area in the western part of the district. This compares with five new oil fields, one new . gas field and two extension wells drilled in 1941. Both new field discoveries were small and in areas outside of the general trend of the main producing horizon of the district in Edwards limestone: One new field, the Imogene, in Atascosa County, is a deep Edwards limestone prospect at 7500 ft., and the other new field, the Poth, in Wilson County, is a sSEa110w Wilcox (Eocene) prospect at 4000 ft. Subsequent drilling in each field to the end of I942 has proved disappointing. There were no new discoveries along the old Balcones fault-line trend, although 35 of the exploratory wells were drilled in counties along this trend. Approximately 38 wells were drilled in or adjacent to the proven fields of the district, of which 18 were oil wells, 2 were gas wells and 17 were dry holes. The district produced 6,186,178 bbl. of oil during 1942, which was a 7 per cent decrease under production for 1941. Approximately 4,961,000 bbl. of this total production, a slight increase over 1941, was produced by the four Edwards-limestone fields, Luling, Branyon, Salt Flat and Darst Creek, and the rest of the production came from the other 42 active fields in the district. During the year, 20 new producing wells were completed and 221 wells were abandoned in the producing fields. This alarming excess rate of abandonment~ over completions will be further reflected undoubtedly by a further decreased rate of 1943 production under 1942. Two active fields in the district in which more than one producing well was completed during the year were Bee Creek and Washburn. The majority of exploratory work in the district was confined to areas along the Wilcox trend, with a certain amount in progress along the deeper Edwards limestone trend. The successful completion of sevemi wells in the Washburn field from multiple sands in the Lower Wilcor (Eocene) has stimulated exploratory work along this trend, while the completion of a small well in the Imogene field from the Edwards limestone at 7500 ft. has renewed interest in this horizon at depths greater than generally are producing in the district. New Fields ounty. ble Oil and Refining Company&apos;s No. I

Jan 1, 1943

By William H. Spice

The year 1942 in the South Central Texas area was marked by a sharp curtailment of exploratory drilling as compared with the past several years. In the 33 counties that compose this district, 17 of which are nonproducing counties, only 51 exploratory wells were drilled during the year 1942. This compares with 118 exploratory wells drilled during 1941, or a decrease of more than 50 per cent. At the end of the year 10 active exploratory wells were drilling in this area, as against 19 being drilled at the end of 1941. Of the exploratory wells drilled, two brought in oil wells and were new field discoveries and one was a gas well extending a recently discovered shallow gas area in the western part of the district. This compares with five new oil fields, one new . gas field and two extension wells drilled in 1941. Both new field discoveries were small and in areas outside of the general trend of the main producing horizon of the district in Edwards limestone: One new field, the Imogene, in Atascosa County, is a deep Edwards limestone prospect at 7500 ft., and the other new field, the Poth, in Wilson County, is a sSEa110w Wilcox (Eocene) prospect at 4000 ft. Subsequent drilling in each field to the end of I942 has proved disappointing. There were no new discoveries along the old Balcones fault-line trend, although 35 of the exploratory wells were drilled in counties along this trend. Approximately 38 wells were drilled in or adjacent to the proven fields of the district, of which 18 were oil wells, 2 were gas wells and 17 were dry holes. The district produced 6,186,178 bbl. of oil during 1942, which was a 7 per cent decrease under production for 1941. Approximately 4,961,000 bbl. of this total production, a slight increase over 1941, was produced by the four Edwards-limestone fields, Luling, Branyon, Salt Flat and Darst Creek, and the rest of the production came from the other 42 active fields in the district. During the year, 20 new producing wells were completed and 221 wells were abandoned in the producing fields. This alarming excess rate of abandonment~ over completions will be further reflected undoubtedly by a further decreased rate of 1943 production under 1942. Two active fields in the district in which more than one producing well was completed during the year were Bee Creek and Washburn. The majority of exploratory work in the district was confined to areas along the Wilcox trend, with a certain amount in progress along the deeper Edwards limestone trend. The successful completion of sevemi wells in the Washburn field from multiple sands in the Lower Wilcor (Eocene) has stimulated exploratory work along this trend, while the completion of a small well in the Imogene field from the Edwards limestone at 7500 ft. has renewed interest in this horizon at depths greater than generally are producing in the district. New Fields ounty. ble Oil and Refining Company&apos;s No. I

Jan 1, 1943

By James H. Boettcher

INTRODUCTION A complex interaction of worldwide economic and political forces is increasingly requiring 3 primary participants for the successful development of large natural resource projects in developing countries. They are the host government of the developing country (the "host government"), one or a consortium of international natural resource companies, (the "Resource Company") and one, or more likely, a syndicate of international lenders. The host government typically controls the rights to its country&apos;s natural resources and establishes the economic ground rules for their development. However, because of worldwide inflation and the depletion of easily accessible, high-grade resources, the nominal and real capital development and operating costs of projects have been spiraling. Moreover, the depletion of high-grade and mineralogically uncomplicated resources also raises the technical and operating risks associated with resource recovery. Thus, despite increasing political self-consciousness and economic nationalism in developing countries, international resource companies are still often necessary project sponsors since they can provide, among other things, the required technical and management expertise and equity capital. The presence of these factors, and often the addition of worldwide market access in a project, is often critical in determining whether or not the project will be considered creditworthy by international commercial lenders. The international commercial lender is often the critical third party in project development, due in a large part to the ever escalating-costs of project developments relative to the financial resources of many companies and even a growing number of countries. In addition, lenders have other reasons for taking more than a passive interest in all aspects of a project&apos;s development. These reasons include the following: 1. Projects are often financially structured such that the primary security for a loan, once completion and performance standards are met, is the cashflow of the project rather than recourse to its sponsors. 2. Lenders, in addition to the "project risk" just described, are frequently asked to assume various elements of "political" risk which nay put them in a sensitive economic position between the host government and international resource firms (This is discussed later). 3. International banks today have large loan portfolios of developing country debt with final maturities ranging from one to fifteen years. The various current projects undertaken are the building blocks of most developing country economies that will hopefully contribute to the long run economic development of a country as well as generate the foreign exchange necessary to repay foreign loans in the future. In this regard it is useful for lenders to realize whether a given project "makes sense" in terms of a country&apos;s natural resource endowments and competitive advantages over other countries. The type of framework discussed in this article would help lenders to better make such assessments. In order to facilitate the continued international flow of capital and technology to developing countries and of readily available supplies of raw materials from them, it is important for each of these three parties to increase its awareness of the goals and objectives of the other parties as well as the bargaining process that results in the legal, financial, credit and fiscal structures by which a joint venture project ultimately proceeds. Each of the parties faces increasingly complicated accept/reject decisions when they are faced with difficult choices among. a wide range of alternative structural combinations each of which has different implications for risk and reward to them. Therefore, by increasing the mutual, 3-way awareness of the decision processes of the other parties, it should be possible to: • provide better information and results in the formation of more rational expectations by all parties going into negotiations, • facilitate the project formulation process by allowing parties to focus more clearly on the areas of common interest and conflict, • result more frequently in final structures and agreements that better reflect the economic and political realities associated with a project and thus • result in more creative, innovative agreements that should reduce the need for changes to them and thus promote the kind of long run political stability conducive to attracting capital and further investment.

Jan 1, 1982

By Earl Oliver

THE term oil property, in this discussion, includes any type of easement or grant under which petroleum might be produced; it ranges from the mere right to drill on undeveloped wildcat acreage up to a fully developed oil property. The values of an oil property, as thus defined, vary widely according to the use for which it is intended, whether it is from the viewpoint of the speculator, the fraudulent stock promoter, the refiner and pipe-line owner, or the oil producer. The market value of a property is usually a combination of some two or more of these influences, and occasionally a combination of all of them, but we prefer to treat each viewpoint as distinct from the others, allowing the reader to make his own combination in such proportions as his inclination and property seem to require. This paper will treat the subject from the viewpoint of the oil producer. However, the other influences have such bearing on the cost of property to the producer and on the price he might obtain by its sale as to warrant brief discussion of them. Speculation, particularly lease speculation, is a parasitic growth on the oil industry, healthy enough, but of no economic value. The class of property usually dealt in for this purpose is the undeveloped lease. Its speculative value may have some relation to its probable productive value, but most frequently this value is the product of temporary excitement due to local development. The lease speculator, seeking out the trend of development or securing early information regarding a proposed test or a new discovery, immediately secures leases whose market value will be increased when the existence of such development becomes more widely known. His profits are purely unearned increment. Not proposing to spend money in exploration, he can afford to compete in purchase with the operator, who, in addition to bonus paid, must spend large sums in testing out his own acreage and that of the nearby speculator as well. It has a tendency to compel unduly high bonuses.

Jan 2, 1920

By Henry Siegmann

HISTORY OF PRODUCTION AND USE In 1899 the consumption of fluorspar in the United States was reported as 16,000 tons. The invention of the open-hearth method of steel manufacture, plus the beginnings of a fluorine chemical industry, pushed consumption of fluorspar to 250,000 tons by 1918. In contrast to these consumption statistics of the past, the most recent statistics available (1972) indicate a total fluorspar usage in the United States of 1.352 million st (Table 15.4D.1). Fluorspar remains the world&apos;s cheapest source of fluorine, and its unique properties make the mineral the most desirable fluxing agent for steel refining. The linking of fluorine with carbon in the late 1930s resulted in the production of fluorocarbon, and constant growth in production over the years has formed the backbone of a strong fluorine chemical industry. For example, in 1972 it is estimated that total fluorocarbon production amounted to 2.113 million tons, and that, in this process, over 1.351 million tons of acid-grade fluorspar was consumed. The producers of primary aluminum long have been concerned about the fast dwindling reserves of natural cryolite. They found the solution to their problem by utilizing fluorspar for the manufacture of synthetic cryolite and aluminum fluoride. Nuclear weapons, as well as the growing number of peaceful uses for atomic reactors, constitute a market for uranium hexafluoride. This chemical and chlorine pentafluoride, used as an oxidizer with rocket fuels, are products that are as much a novelty as fluorocarbons were 25 years ago. Judging from past success in the field of fluorine chemistry research, it is safe to assume that the market for these chemicals will grow in the future. Three major industries account for the bulk of the fluorspar consumption: steel refining, fluorine chemical, and primary aluminum production. These industries have had a pattern of fabulous growth in the past, and their future plans point to a continuation of this pattern. It seems logical that the fluorspar usage also should continue its upward trend. Considering the growth of the fluorspar industry since 1899, and the obvious dependence on imports of fluorspar as a raw material, one of the most puzzling aspects of the past has been the apparent lack of coordination between fluorspar production and fluorspar consumption. A few authoritative voices have spoken out concerning the need to expand fluorspar production in order to meet consumption of the future. During World War II, the U.S. Government took positive steps in this direction by authorizing purchases at attractive prices for its "stockpile program." As a consequence, new fluorspar producing facilities were built, not only in

Jan 1, 1976