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By M. Muskat, H. H. Evinger

A METHOD has been developed whereby one may calculate the productivity factors of producing formations from a knowledge of the reservoir conditions. Account is taken not only of the heterogeneous character of the gas-oil flow system but also of the detailed variations with pressure of the shrinkage and viscosity of the oil, the solubility of the gas in the oil, and even the variability of the gas viscosity and the deviation of the gas from ideal behavior. Curves are shown giving the results of numerical calculations on the production rate as a function of the pressure differential for a high-pressure and a low-pressure system, three values of gas-oil ratio being treated in each case. Curves are also given showing the variation with distance from the well of the pressure, oil saturation, and permeability. The effect of connate water is briefly discussed in relation to the apparently large discrepancies between the calculated and observed productivity-factor values. INTRODUCTION The significance of the productivity factor as a measure of the capacity of an oil-bearing formation to produce is well recognized; for it is the composite and integrated resultant of the physical properties of both the porous medium and the fluid stream passing through it with respect to the ease with which the particular petroleum fluids present in the formation can flow through it and into producing wells. The most direct method of determining the productivity factor of a well consists, as is well known, in the simultaneous measurement of reservoir-pressure differentials and rates of production and the expression of the data in terms of rate of flow per unit pressure drop.1 Actual measurements carried out in this manner on producing wells have given factors that generally lie in the range of 0 to 100 bbl. per day per pound pressure drop. This wide range arises not only from variations in permeability but also from the varying sand thickness of producing formations. One of the aims of developing a theory of the mechanics of oil production obviously is that of predicting what the productivity factor should be from a knowledge of the individual characteristics of the producing formation and the fluids produced. For homogeneous fluid systems passing through a porous medium into a producing well, it has been known for some time that the steady-state rate of liquid flow Q is given by the formula:* [ ] where k is the sand permeability, h its thickness, µ the liquid viscosity, [Ap] the pressure drop between the well and the distant parts of the reservoir, in particular that at a radius [ro ]and [r ] is the well radius. This gives the productivity factor: [ ] which will have a numerical value for a liquid of I centipoise viscosity of 0.9316 or

Jan 1, 1941

By Carl E. Swartz

ALTHOUGH a number of articles appeared during the war advocating the use of cadmium in lead-tin solders, very little information of value can be found in the literature regarding the properties of solders containing cadmium. In most of the published articles the cadmium seems to have been considered merely as a partial substitute for tin in a tin-lead alloy rather than as an essential constituent of a ternary alloy. The primary object of the substitution of cadmium for tin was to lessen the amount of tin required, at a time when the latter was scarce and high-priced, and thus to produce a cheaper solder. While this object was accomplished, the new properties resulting from a change from a binary lead-tin alloy to a ternary lead-tin-cadmium alloy were not given proper consideration in many cases. For the past few years, the American Smelting & Refining Co. has been marketing a very considerable amount of cadmium in the form of lead-tin-cadmium alloys for use as solders for certain special purposes, and the successful use of these solders suggested that if more extensive knowledge were available concerning the properties of lead-tin-cadmium alloys of various compositions their field of usefulness might be materially extended. The investigation described in the present paper was undertaken to obtain this information and, by means of tests under conditions approaching those of practical use, to determine the suitability of cadmium solders for various purposes. CHARACTERISTICS AND REQUIREMENTS OF SOLDERS IN GENERAL General Physical Properties.-When cast into bars, solder should present a smooth and bright appearance free from oxide inclusions and bubbles. Ductility should be as great as possible without sacrificing tensile strength, and vice versa. Hardness and specific gravity are not of any great importance. Melting Characteristics.-The melting or solidification range is important. This statement applies both to the extent of the range and to the actual temperature at which complete solidification occurs. A rather narrow solidification range is desirable in soft solders in order that solidification may take place quickly. The solder should have high fluidity at temperatures only slightly above its melting range. For a

Jan 1, 1928

In situ mining is no longer a "last ditch" approach for recovery of uranium, but a proven and competitive method of exploiting sedimentary deposits. Today, in any feasibility study of uranium properties, the project manager would be prudent to compare the economics of in situ methods with conventional surface and underground techniques. In this comparison of in situ and open-pit mining, John J. Borkert and Carl E. Gerity of Occidental Minerals Corp., evaluated a group of hypothetical uranium deposits using the three most sensitive depositional characteristics of depth, size, and grade. Their conclusion: in situ is generally the better method to maximize total net profits and return on investment. At uranium values of $40 per pound, their analysis found open-pit mining to he unprofitable, generally, when stripping ratios were greater than 30:1, the deposit grade-thickness (GT) was 0.5 or less, or the ratio of depth to GT was greater than 200.

Jan 10, 1978

By D. I. Cameron

A graphical method has been developed and tested for separating the effects of grain boundary and lattice diffusion in polycrystalline materials. The method is based on the assumptions that for unidirectional diffusion from a plane source of radioactive material, the penetration of activity far into the specimen from the source is due solely to grain-boundary effects, and 2) pure grain-boundary penetration is described by a linear plot of log activity vs the perpendicular distance x from the source. The former is based on the fact that at any temperature the grain-boundary diffusion coefficient is always very large relative to the lattice diffusion coefficient; and the latter is based on the derivation of Fisher.1 Using these criteria along with appropriate penetration data (in this case, data for the diffusion of Cb95 in pressed and sintered UO2) one first plots the data as log activity vs x2 and as log activity vs x, as shown by curves 1 and 2, respectively, in Fig. 1. A tangent line to curve 2 for large x (curve 3) is then transferred to the x2 plot as curve 4. The subtraction of curve 4 from curve 1 yields curve 5 which represents only lattice diffusion and may therefore be related to the diffusion coefficient by using the appropriate solution to Fick's second law. It should be noted that the method has inherent inaccuracies for small and large values of x2 and only the subtraction at intermediate values can be used. For the illustrated specimen the calculated diffusion coefficient is 3.4 X 10-11 sq cm per sec at 1445°C while data using a single crystal of UO2 at the same temperature yielded a value of 2.9 x 10-11 sq cm per sec.2 The same method of subtracting grain-boundary diffusion effects to obtain lattice diffusion coefficients has been successfully used to determine self-diffusion coefficients of Th230 in polycrystal- line thoria.

Jan 1, 1962

By Robert Linton

The Sierra Consolidated Mines Co., organized in 1909, owns, together with other holdings, practically all of the productive mineral area in the Ocampo district. Lying within this area are 15 mines, large and small, that hid previously been worked and appear to have yielded, since the discovery of the camp, about 100 years ago, bullion of a total value of over $50,000,000. The deepest mine, the Santa Juliana, had been worked to 1,100 ft. below the outcrop. The reopening of the mines involved, first, extensive and thorough development to open up the known ore shoots at greater depth and explore the ledges for additional shoots, and, second, a revision of existing equipment and methods, so as to increase output and reduce cost of production. This paper will give some account of the metallurgical treatment and a description of the new mill to be built at El Salto. The Ore The ore is practically all argentite, Ag2S, with some associated gold, and carried in a siliceous gangue. The typical ledge matter is an ande-sitic breccia cemented with quartz, or quartz stockwork in andesite.l The proportion by weight of silver to gold averages about 60 to 1. The silver sulphides occur ordinarily in rather fine. dissemination, sometimes not being easily discernible with the naked eye, even in ores of very good grade. The ledges also contain considerable pyrites, which as a rule is barren. "Bronce" is the local term applied to such barren pyrites, and "Pasta" to such as carries values.

Jan 1, 1915

By Herbert Hoover, Harlod Washburn

This paper is in the nature of a rough preliminary report on the progress that has been made in the application of the mass spectrometer to various problems arising in the petroleum industry. A few years ago the authors considered a number of the problems that were arising in the qualitative and quantitative measurement of small amounts of hydrocarbons. The methods available of making analyses by chemical techniques appeared to leave much room for improvement. Without going into the reasons at this point, attention was turned to the possibility of employing physical instead of chemical methods of accomplishing the desired results. A preliminary investigation disclosed that the mass spectrometer presented a possibility of solving many problems which could not easily be accomplished by other methods. Work was begun in developing the necessary apparatus and technique. A great deal of encouragement and many valuable suggestions were received from Dr. Robert A. Millikan, Dr. W. R. Smythe, and Dr. W. N. Lacey, of the California Institute of Technology, and from Dr. E. 0. Lawrence, who recently received the Nobel Prize, of the University of California. The authors particularly wish to acknowledge the very great willingness of these outstanding scientists to be helpful in solving many of the problems that were involved. So far as the authors are aware, this was the first application of the mass spectrometer to commercial work. The results were considerably better than had at first been anticipated. Briefly, it is possible to run a qualitative and quantitative analysis of an unknown mixture of hydrocarbon gases, with an accuracy of better than plus or minus 5 per cent of each of the various constituents. An exceedingly high degree of sensitivity has been obtained, and a relatively short time is required to complete an analysis. Furthermore, it is unnecessary to separate a mixture of gases into its various components in order to complete the analysis. The Mass Spectrometer The mass spectrometer should not be confused in any way with the optical 01 grating type of spectrograph now in general use. The operation of the mass spectrometer is entirely different in principle and bears practically no resemblance to the optical or grating instruments. The original conception and development of the mass spectrometer dates from and is generally credited to Aston, of Cambridge, England. An early accomplishment of his research, about 20 years ago, was the discovery that the inert gas neon was actually a mixture of two kinds of atoms, one of the atomic weight 20 and the other of atomic weight 22. These two components occurred mixed in such proportion as to yield the usual atomic weight of 20.2. The study was continued and most of the elements were shown to be mixtures of components whose atomic weights can, to in

Jan 1, 1941

By Harlod Washburn, Herbert Hoover

This paper is in the nature of a rough preliminary report on the progress that has been made in the application of the mass spectrometer to various problems arising in the petroleum industry. A few years ago the authors considered a number of the problems that were arising in the qualitative and quantitative measurement of small amounts of hydrocarbons. The methods available of making analyses by chemical techniques appeared to leave much room for improvement. Without going into the reasons at this point, attention was turned to the possibility of employing physical instead of chemical methods of accomplishing the desired results. A preliminary investigation disclosed that the mass spectrometer presented a possibility of solving many problems which could not easily be accomplished by other methods. Work was begun in developing the necessary apparatus and technique. A great deal of encouragement and many valuable suggestions were received from Dr. Robert A. Millikan, Dr. W. R. Smythe, and Dr. W. N. Lacey, of the California Institute of Technology, and from Dr. E. 0. Lawrence, who recently received the Nobel Prize, of the University of California. The authors particularly wish to acknowledge the very great willingness of these outstanding scientists to be helpful in solving many of the problems that were involved. So far as the authors are aware, this was the first application of the mass spectrometer to commercial work. The results were considerably better than had at first been anticipated. Briefly, it is possible to run a qualitative and quantitative analysis of an unknown mixture of hydrocarbon gases, with an accuracy of better than plus or minus 5 per cent of each of the various constituents. An exceedingly high degree of sensitivity has been obtained, and a relatively short time is required to complete an analysis. Furthermore, it is unnecessary to separate a mixture of gases into its various components in order to complete the analysis. The Mass Spectrometer The mass spectrometer should not be confused in any way with the optical 01 grating type of spectrograph now in general use. The operation of the mass spectrometer is entirely different in principle and bears practically no resemblance to the optical or grating instruments. The original conception and development of the mass spectrometer dates from and is generally credited to Aston, of Cambridge, England. An early accomplishment of his research, about 20 years ago, was the discovery that the inert gas neon was actually a mixture of two kinds of atoms, one of the atomic weight 20 and the other of atomic weight 22. These two components occurred mixed in such proportion as to yield the usual atomic weight of 20.2. The study was continued and most of the elements were shown to be mixtures of components whose atomic weights can, to in

Jan 1, 1941

By R. B. Adair, J. S. Browning

The Bureau of Mines conducted laboratory research to determine the applicability of heavy liquid separation to the evaluation of certain mica ores and plant products. After careful standardization of the particular mica ores and associated gangue, accurate analysis of muscovite content could be obtained from results of heavy liquid separation. Where applicable, the method should be particularly suited to the analysis of ores and control of plant operations wherein savings in time would be of considerable advantage. Specifically, there are many instances where a quick plant control method should enable the production of a more uniform grade of mica concentrate. The laboratory use of various heavy liquids for separating minerals of different specific gravities has been recognized for many years.1-8 Sink-float procedures have proven their utility as a rapid and moderately accurate means for determining the mineral content of ores, test products, and plant products in certain nonmetallic concentrating operations. A standard method of analysis for mica in ore samples has not been published or generally accepted by the mica industry. Recently, the U.S. Bureau of Mines investigated methods for analyzing mica by heavy liquid separation. This report has been prepared to make the methods available to others who may need simple, relatively rapid methods of determining the mica content of ores and plant products. The heavy liquid method of mica determination has recently been adopted by one of the major mica producers for evaluating exploration and mill control samples. DESCRIPTION OF THE ORES AND HEAVY LlQLllD The weathered mica pegmatite ores used in the investigation were obtained from commercial mica op erations in Alabama, Georgia, and North Carolina. The major mineral constituents of the ores were muscovite, quartz, kaolin, and minerals of the feldspar group. The ores also contained minor quantities of biotite, limonite, and tourmaline. A comparison of the specific gravities of the major constituents of the ores (muscovite 2.76 +, quartz 2.65, kaolin 2.61, and feldspar 2.57), indicates that an effective separation of muscovite from the other minerals can be made in heavy liquids at a specific

Jan 1, 1968

By Stephen E. Erickson

MORE and more hydrocyclones are being installed in beneficiation plants. This recent rapid increase is of special interest in the history of beneficiation, since development of the hydro- cyclone appears to have swung in a circle. To avoid any chance of confusion, it would be well first to review the accepted definitions. The size of a cyclone is expressed as the diameter of the cylindrical section. Size of the inlet orifice- which may be circular, square, or rectangular- is expressed as a diameter, or as width and length, or as an area (in square inches). The angle of a cyclone is expressed as the total included angle. The overflow or finest classification fraction leaves the cyclone through the vortex finder. The underflow or coarsest classification fraction leaves through the apex opening.

Jan 8, 1957

By John Norton

IN spite of the very general employment of nitride hardening, there is still considerable doubt as to the real nature of the mechanism involved. Experience has shown that the addition of small amounts of hardening elements to iron or steel results in a wide variety of desirable properties in a nitrided case. Perhaps the foremost of these elements is aluminum and in this investigation an attempt has been made to study the behavior of aluminum during the hardening process. It is believed that the establishment of a complete atomic picture of the metal at various stages of the process will indicate the relationships between the several kinds of atoms and their individual influences on the physical properties in a clear and direct fashion. A consideration of the problem suggests a surprising similarity between the mechanisms of nitride hardening and of age-hardening. It is now generally understood that age-hardening may take place by one of two distinct processes, the first involving the precipitation of a finely dispersed phase and the other being concerned with the modifica-tion of an existing phase. Following much the same line of reasoning, two theories of nitride hardening have been suggested. The first expla-nation, which has been generally discussed, particularly by Fry,1 states in brief that the presence of aluminum causes the precipitation of alumi-num nitride during nitriding and that this finely dispersed phase is the primary cause of hardening. The second explanation, which has not been published but which has been freely discussed by those interested in the problem, postulates the substitution of aluminum atoms for certain of the iron atoms in the several iron-nitrogen phases in the same manner that the substitutional iron-aluminum solid solution is formed. The marked increase in hardness, as compared with the aluminum-free

Jan 1, 1934

Surface mine operators often gamble that the savings gained from elimination of haul-road subbase preparation will offset any potential loss in production due to deteriorating roads. According to the authors of a manual on haul-road construction, this practice yields results that are almost always undesirable. The lack of suitable weight-bearing material under the road surface permits extensive rutting, sinkage, and overall deterioration of the roadway, and a great deal of maintenance work will be needed to keep the road usable. In addition, say Walter W. Kaufman of Skelly and Loy, and James C. Ault, USBM Pittsburgh Mining and Safety Research Center, adverse road conditions pose a serious threat to vehicular controllability and create unsafe haulage road segments.

Jan 3, 1978

By L. L. Davis

The rapid increase in the use of pulvcrulent adsorptive materials in the so-called "contact filtration" process for decolorizing lubricating oils makes it desirable to consider some of the basic principles involved. The commercial methods and types of equipment now used arc fairly well known, having been extensively described in the trade journals. In spite of this very little has been published concerning the factors which must be considered in the selection of a process or of a decolorizing ing material. It is commonly understood that contact filtration more or less closely follows the laws of adsorption. These principles have been thoroughly drscribed by Gurwitsch.' The contacting of neutral mineral oils seems to be adsorptive in character and apparently follows Freundlich's law of adsorption which may be expressed by the formula: X = Color material adsorbed hy the clay. M = Amount of clay used. C = Concentration of color material after equilibrium. A and P = Constants for a given oil and clay. Fig. 1 shows the decolorization curve for a natural, dark colored cylin-der stock when contacted with various quantities of clay, curve R being made with natural Riverside Texas fuller's earth and T being made with an acid-treated clay from Texas. As the Tag-Robinson color is inversely proportional to the depth of color, the reciprocal of these colors ran be assumed to be a funct ion of the concentratlion of coloring matter. The values of and C' can, therefore., br calculated by using the reciprocal Tag-Robinson colors, and when these

Jan 1, 1928

By G. R. Speich, S. A. Kulin

R. C. Shnay (Dept. of Mines and Technical Surveys, Ottawa, Ont., Canada)-—The authors are to be congratulated on an interesting and informative paper. However, several questions arise when the isothermal formation of martensite .is considered in relation to the formation of bainite at temperatures near the M, point. The reactions in an alloy and in a plain carbon steel would appear to be comparable; and in the course of a recent investigation of the austenite-bainite transformation in a plain carbon steel,Ia the writer has obtained data at temperatures above and below the M, point. These data are in some respects similar to those of the authors and a comparison would seem justified. The steel used in this investigation had the nominal composition: C, 0.80 pct; Mn, 0.20; and Si, 0.20. The course of the transformation was followed by the use of a magnetic balance. The magnetic moment of the specimen as determined by this instrument is directly proportional to the percentage of the total volume of the specimen which has transformed to bainite. ~lf specimens were austenitized at 1850°F for 4 hr, quenched to the transformation temperature, and quickly transferred to the magnetic balance. Readings were taken at regular intervals until the transformation had stopped. A typical transformation curve is shown in Fig. 9. The preliminary curve preceding the S-shaped curve was found at all temperatures above the M, to around 600°F. Both the extent of this preliminary curve and the time interval between it and the S-shaped curve were found to decrease with increasing temperature as was suggested by Davenport and Bain.14 Therefore,

Jan 1, 1953

By R. Hogg

Sintering is a process in which the pore structure of an agglomerated powder is modified. For many applications, it is desirable to be able to control the pore structure in order to optimize such properties as mechanical strength and reactivity (availability and accessibility of solid surfaces to reactant gases, for example). In general, these properties will be determined by the total porosity and the pore size distribution of the agglomerate. In the work described in this paper, a physically realistic mathematical model for the sintering process has been developed. The model is based on the usual assumption that the pore system in an agglomerate can be treated as a network of interconnecting, cylindrical pores of continuously varying size. It is further assumed that the total pore length is conserved during the course of the sintering process. Using standard expressions for the rate of shrinkage of an individual pore, the model can be used to predict the changes in total porosity and pore size distribution as sintering proceeds. Experimental pore size distributions, obtained by mercury intrusion porosimetry, for the sintering of oxides appear to be in general agreement with the predictions of the model.

Jan 1, 1977

By H. Reginald Hardy, Gary L. Mowrey

Field studies were conducted over a longwall coal mining operation to investigate the feasibility of using microseismic techniques to detect and to locate any areas of instability in the vicinity of the longwall. An array of geophones buried at depths of 3 to 8 m from surface were positioned approximately 130 m above the active area of the longwall panel. A mobile microseismic monitoring facility amplified, filtered, and recorded the microseismic activity sensed by the geophones. Microseismic events were detected at depths of at least 130 m and at horizontal distances in excess of 250 m from the source. Most events, which resembled decaying sinusoidal transients, had frequencies of 10 to 100 Hz, and particle velocities of 1 to 8 pm/s. Source locations for the 150 largest events were computed using a least-square travel-time-difference method. Both isotropic and unique wave propagation velocity models were considered when evaluating the source locations. Most of the events were computed to be within ± 30 m vertically of the coal seam and ± 15 m horizontally of the longwall face, when the unique velocity model was employed.

Jan 1, 1980

By William P. Lohden

INTRODUCTION It is recognized that, for a variety of reasons, some companies in the mineral industry today are by no means cash-rich and, in fact, are reporting a growing proportion of long-term debt in their capital structures. A review of recent balance sheets of small, medium-size, and some larger companies, indicates that a fair number still have substantial positions in cash equivalents such as U.S. government issues and other short-term money market instruments. In part, this paper concerns itself with companies which have sufficient cash and equivalents and/or cash generation to internally finance mining projects or expansions but which, for some reason, choose to borrow funds. Misconceptions which appear to frequently underlie so-called "leveraging" decisions are explored in this paper. Also considered arc' those circumstances under which any company, including one that is cash rich, should consider borrowing for a project in an amount beyond what would otherwise be necessary based upon its internal financing ability. I do not attempt to cover the raising of equity capital in public markets in this paper. OVERALL RETURN ON INVESTABLE CASH If you approach an individual with an investment which can be financed from savings, or by borrowing at a rate higher than one is earning on savings, that individual will quickly tell you that to pay interest at a rate higher than is being earned on savings would reduce overall income. Assuming that additional investment opportunities are not currently being considered, the individual concludes that a draw-down on savings, leaving a cushion for contingencies suited to individual circumstances, is the correct financial decision. For reasons discussed later, the simple mathematical logic leading to this conclusion tends to become obscured at the corporate level. When Leveraged Studies Are Inappropriate or Premature Surprisingly, I have heard of a number of companies that could afford to finance an investment solely with internal funds, which have made DCFROR (i.e. discounted-cash-flow rate-of-return) studies not only on a 100% equity basis but also on a leveraged basis. Certainly, a leveraged study would be appropriate if additional projects were competing for more capital than was available internally. Often, however, other projects are not far enough along to warrant a leveraged study and there is some danger that a project may be undertaken because it has an estimated acceptable rate of return, on a leveraged basis, that is not ultimately earned because some of the other projects are postponed or abandoned and borrowing is less than expected. For the above reasons, until it has been determined that (1) borrowing is a reasonable certainty for a particular project and (2) the timing and amount to be borrowed has been determined within a reasonable range of accuracy, I believe it is inappropriate and misleading to calculate DCFROR for a project other than on a 100% equity basis. Even when there are several projects currently competing for funds and borrowing will be required to finance one or more of them, using the common yardstick of calculating DCFROR on a 100% equity basis is a safer method to initially evaluate and compare the attractiveness of the projects. Many companies, whether they would have to borrow or not, will reject projects that on a 100% equity basis do not meet their minimum rate of return standards. Some companies which have to borrow will undertake a project provided the project's DCFROR on a leveraged basis meets its minimum return standards. The danger of this approach is that even moderate shrinkages of estimated cash flows could plunge return below

Jan 1, 1985

By John G. H. Crump, E. W. Owen, Peter P. Gregory

A noticeable decrease in activity characterized the year 1938 in the West Texas area. The total number of wells completed dropped to 2045 for 19381 as compared with 2806 completions in 1937,l a decline of 27.12 per cent. This trend contrasts the sharp increase of 76.29 per cent in completions in 1937 over the 1936 total. Of 2045 well completions during 1938,' 1788 were oil wellsll 16 were gas producers1 and 241 were listed as failures.' During 1938 the ratio of dry holes drilled to oil-producing or gas-producing wells completed was one dry hole to each 7.48 oil wells, which compares with one dry hole drilled to each 7.477 oil wells in 1937. Nearly 200 wells drilled during 1938 in West Texas were either wildcat or partly wildcat wells, an increase of about 25 over the year 1937, when approximately 175 wells drilled were so classified. The 200 exploratory wells drilled represent about 10 per cent of the total number of wells completed. West Texas produced 71,257,541 bbl.1 of oil in 1938 as compared with 75,743,000 bb1.2 of oil in 1937, a decrease of 4,485,459 bbl., or a 5.92 per cent decline. By comparison, West Texas produced 22.36 per cent more oil in 1937 than during 1936. In December 1938, the 9247 producing oil wells in West Texas1 averaged 22.08 bbl. per day per well as compared with December 1937, when 7571 wells1 produced an average of 25.18 bbl. per day per well, or a decline in daily well average of 12.32 per cent. Discoveries No outstanding new fields were discovered in West Texas during 1938, in spite of continued, active wildcatting operations. Several new oil-producing areas were, found, however, the value of which is still unknown.

Jan 1, 1939

By E. W. Owen, John G. H. Crump, Peter P. Gregory

A noticeable decrease in activity characterized the year 1938 in the West Texas area. The total number of wells completed dropped to 2045 for 19381 as compared with 2806 completions in 1937,l a decline of 27.12 per cent. This trend contrasts the sharp increase of 76.29 per cent in completions in 1937 over the 1936 total. Of 2045 well completions during 1938,' 1788 were oil wellsll 16 were gas producers1 and 241 were listed as failures.' During 1938 the ratio of dry holes drilled to oil-producing or gas-producing wells completed was one dry hole to each 7.48 oil wells, which compares with one dry hole drilled to each 7.477 oil wells in 1937. Nearly 200 wells drilled during 1938 in West Texas were either wildcat or partly wildcat wells, an increase of about 25 over the year 1937, when approximately 175 wells drilled were so classified. The 200 exploratory wells drilled represent about 10 per cent of the total number of wells completed. West Texas produced 71,257,541 bbl.1 of oil in 1938 as compared with 75,743,000 bb1.2 of oil in 1937, a decrease of 4,485,459 bbl., or a 5.92 per cent decline. By comparison, West Texas produced 22.36 per cent more oil in 1937 than during 1936. In December 1938, the 9247 producing oil wells in West Texas1 averaged 22.08 bbl. per day per well as compared with December 1937, when 7571 wells1 produced an average of 25.18 bbl. per day per well, or a decline in daily well average of 12.32 per cent. Discoveries No outstanding new fields were discovered in West Texas during 1938, in spite of continued, active wildcatting operations. Several new oil-producing areas were, found, however, the value of which is still unknown.

Jan 1, 1939

By Shun-ichi Satoh

In the previous paper, the writer indicated that the arc welding of cast iron is practicable only when barium carbonate is used to retard the fusion of electrodes. Later, he tested the effects of 48 other elements, to discover the cause of their retarding action. Wrought-iron bars 33 cm. long and 0.53 cm. dia. were used as electrodes. The chemical analysis of the original electrode is given in Table 1. Table 1.—Analysis of Electrode Per Cent. Carbon.................................................. 0.045 Silicon................................................... 0.028 Manganese....................................... Trace Phosphorus.............................................. 0.047 Sulfur................................................... 0.008 Each of the bars was wound with a twine of asbestos (1 mm. dia., weighing 0.5 g.) and then was coated with a mixture of equal quantities of graphite and carborundum and one of the compounds listed in the second column of Table 2. The method used in coating was as follows: The mixtures were reduced to paste by adding to them a solution of water glass (1:3); they were next put in a glass tube of 8 mm. inner diameter, with funnel-shaped mouth (the same tube shown in the previous paper); then the bars were passed through the tube so that the mixtures were coated on them. The glass tube was used only as a means of making the diameters of all coated bars exactly 8 millimeters. The cast iron was deposited on the steel plates by connecting the electrodes first to the positive and then to the negative pole of the generator. The figures representing the time, voltage, amperes and energy required to melt each electrode are given in Table 2. They are arranged in the order of the atomic weights of the elements contained in the coatings. In Figs. 1 to 4, which show respectively the time, current, voltage and energy required in this operation, the abscissas indicate the atomic weights of the elements contained in the coatings, and the ordinates

Jan 1, 1929

By Eli Sani

Investment in the mineral industries-particularly in the mining industry-differs from investment in nonminera1 industries in that the latter have an indeterminate life, assumed to be perpetual, and are not called upon to replace the firm's original investment. In mining ventures, on the other hand, once the ore bodies are depleted the mine has no economic value; the original capital investment must be returned to the investor by the time the ore is exhausted. A mining venture is also characterized by the significant cost and time associated with the exploration phase. A myriad of samples must be taken, geological features investigated, and ore grade assured. In addition, most mining ventures require substantial capital expenditures aggregating several hundred million dollars for a number of years before the project begins producing any revenue. Any theoretical model employed in evaluating a mining venture, as well as similar mineral ventures, must take all these factors into consideration.

Jan 5, 1977