Search Documents

By H. J. McQueen

About 1973 the abrupt decrease in crude oil shipments due to political action by Middle Eastern suppliers, caused a shortage and a steep price rise. In response, Canada had to develop strategies of diminishing consumption and increasing production in both traditional and environmentally friendly resources. To clarify the situation in Canada, there are brief histories of energy (discovery, pipelines), manufacturing and science development, 1800-1970. Energy strategies, both nationally and in Quebec, succeeded in curbing consumption and in expanding production while fostering research in renewable sources. The industry-sector committees provided free exchange of conservation techniques through the federal energy ministry, with progress reports issued annually. Pipeline history in North America is reviewed along with manufacture and construction plans in Canada. Considerable success in all the aspects provided long lasting benefits, but after the embargo was lifted, many research initiatives were gradually abandoned for political reasons. Sustainability is the goal; society must conduct conserver analysis, legislation and action to enhance it.

Jan 1, 2015

By I. S. Parrish

The Sullivan Mining Group has been exploring the mineral deposits of the Mount Pleasant area of southern New Brunswick since 1967. Sullivan geologists have logged over sixty miles of drill core, mapped over five miles of underground workings and studied numerous surface exposures. Several mineralized zones have been defined and two higher-grade porphyrytungsten bodies delineated. Within these bodies, wolframite occurs as disseminated specks and grains up to one-half inch in diameter. The host rock is a brecciated rhyolite porphyry that has intruded quartz-feldspar porphyry of Mississippian age . The host rock is itself intruded by an acid porphyry called transition rock and is underlain by a microgranite. The mineralized zones, host rock, transition rock and microgranite are all thought to be derived from the same magma, and to represent progressive fractions from that magma.

Jan 1, 1978

By César Beraun, Pablo Espinoza, Luis Loaiza

En la unidad Cerro de Pasco de Empresa Administradora Cerro SAC, existen varias fuentes de aguas ácidas de diversas características, con diferentes rangos de acidez y contenidos metálicos de hierro, zinc y cobre, que parcialmente han pasado de ser un pasivo, en términos económicos y ambientales, a ser una fuente de recursos. El tratamiento convencional que se aplicaba en la planta de neutralización consistía en neutralizar la acidez protónica y precipitar los metales disueltos utilizando lechada de cal y luego separar por sedimentación los sólidos formados para obtener un efluente tratado descargado por vertimiento y disposición de lodos formados en la relavera de la unidad. El cambio de pasivo a recurso para las aguas ácidas pasó por rehabilitar un proceso abandonado, identificando y separando en el interior de la mina subterránea un flujo que por su contenido de cobre ha sido separado en un circuito independiente del existente para las otras aguas ácidas de menores contenidos metálicos. Se desarrolló una secuencia de procesos de precipitación selectiva; inicialmente para recuperar cobre se implementó a escala industrial la cementación con chatarra de hierro. A escala piloto se han concluido tanto las pruebas para separar el hierro por oxidación y precipitación selectiva en medio ácido, como aquellas por las que, a partir de la solución pobre de la precipitación del hierro, se precipita el zinc en dos alternativas: precipitación alcalina como hidróxido de zinc o precipitación en medio ácido por sulfuración. A escala industrial, la recuperación de cobre en la cementación con chatarra de hierro alcanza el 75%, y 85% de contenido de cobre fino. A escala piloto, para el hierro se espera una recuperación sobre 95%, para un producto que alcanza 39% de fierro, mientras que para el zinc, la recuperación esperada es de 93% y un contenido de 35% de Zn en el precipitado de sulfuro.

Sep 20, 2019

In low carbon TRIP steels, the formation of carbide-free bainitic ferrite is crucial for the stabilization of austenite. Based on experimental investigations modeling the bainite reaction is examined adopting diffusional and displacive mechanisms, as well as the semi-empirical JMAK approach. Transformation tests were carried out to study the isothermal austenite decomposition into bainitic ferrite for a model steel containing 0.6wt%C, 1.5wt%Mm and 1.5wt%Si which replicates the composition of remaining austenite at the start of the bainite reaction in a classical C-Mn-Si TRIP steel. In the diffusional approach, classical nucleation theory is employed and subsequent growth of bainite plates is modeled using the Zener-Hillert theory. In the displacive approach, the autocatalytic nucleation of bairtite plates is assumed to be rate controlling. The predictive capability of all models is evaluated for temperature ranges where different morphologies of bainitic ferrite have been detected, The shortcomings and inherent challenges associated with either of these modeling approaches will be delineated.

Jan 1, 2003

By J. P. Piguet, A. Hosni, J. P. Josien, H. Baroudi, R. Hadadou

"The iron ore mines in the Lorraine region of north-eastern France cover a surface area of approximately 3,900 km2 and involve more than 150 cities. A total extraction method was usually used during exploitation, but this technique was sometimes replaced by the room and abandoned pillar technique when it was necessary to protect surface buildings and infrastructure. Rooms and abandoned pillars were initially designed to ensure long-term mine stability. However, this aim was not always reached and numerous collapses occurred in the Lorraine iron basin, either during production or several years after closure. Several subsidence events were identified during a period of one century; the most recent event occurred in 2012. Two groups of events were identified. The first group represents events characterized by sudden surface movement, and the second group includes event characterized by progressive subsidence.Numerous studies conducted during the last decade helped improve our understanding the origin mechanism of spontaneous or progressive (slow) events. These studies led to identifying long-term potentially unstable underground zones (hazard zones), particularly deep zones located under buildings and infrastructure. The latest are currently monitored by microseismic networks. A similar high requirement level is needed for unstable zones without taking into account the kinetics of the subsidence, which is very important for safety. Thus, GEODERIS initiated this study, primarily to acquire a better understanding of the kinetics of the progressive events group and identify the main parameters that could explain why some pillars zones developed a maximum amplitude subsidence on surface within a few hours or days, while it took several weeks to months for others. In practice, the results of this study will facilitate adapting the requirement level of microseismic monitoring system to the kinetics of pillar collapse.To retrieve the real kinetics for each event, historical and sparse documentation was used. Firstly, archives research was conducted, especially testimonies and newspaper articles published during the events. This work helped to gather useful information that sometimes contained a precise description of subsidence duration. The archives research helped to classify some progressive events according to the subsidence kinetics. Secondly, a diagnostic of geotechnical and geomechanical parameters of historic events was realized, combined with a cross analysis of the data. The analysis took into account dimensions of underground workings (e.g., pillar lengths, widths, heights, introduction of a “pillar shape factor”, and stress amount). An original expression was highlighted to connect the pillar geometry to the stress state. The kinetics expression was calibrated to classify the historic events taken into account according to the kinetics of movements. The kinetic criterion was applied to predict subsidence kinetics for the potential unstable zones currently monitored by a microseismic system."

Jan 1, 2015

By R. D. Leitch

The work of the United States Bureau of Mines on stream pollution by coal-mine drainage has included a study of seasonal variations in acidity and volume of several streams in Pennsylvania. The acidity of these streams has been determined during the two or three years prior to 1930 and the results may be considered to represent "normal" low water conditions. The summer of 1330, however, was unusually dry and represents what may be termed "extreme low water conditions on these streams. This report is a comparison of the results obtained for extreme low water of 1930 and for other years. The streams investigated were Buffalo Creek in Somerset County, Indian Creek (lower 5 miles) in Westmoreland County, Little Toby Creek in Elk and Jefferson Counties, Daguscohonda Run in Elk County and West Creek in Elk and Cameron Counties. These will be treated separately in the order given. Most of the descriptive matter and physical data pertinent to the streams and drainage basins are taken from published reports of the Pennsylvania State Water Supply Commission, 1917.

Jan 1, 1931

By William J. Miles

The inhalation of dust has been a problem in the mining industry since antiquity. Crystalline silica is now known to be the cause of silicosis, a form of pneumoconiosis that is associated with excessive exposure to respirable particles in some mining and industrial environments. Crystalline silica was reviewed by the International Agency for Research on Cancer (IARC) in 1986 and classified as a Group 2A, Probably Carcinogenic to Humans in Volume 42 and Supplement 7 of the IARC Monographs (1987). In 1996, IARC reviewed additional literature and studies published in the intervening decade and recommended that quartz and cristobalite, two polymorphs of crystalline silica, be listed as Group 1, Carcinogenic to Humans. Their recommendations and reclassification were published in 1997 in IARC Monographs 68.[2] In both Monographs, IARC classified amorphous silicas as Group 3, Inadequate Evidence for Carcinogenicity to Humans.

Jan 1, 1998

By Roberto Pimentel de Souza

Since 1976 CVRD is carrying out tests to develop a type of pellet made with organic binder. One binder that showed good possibility to be used in industrial plants is Peridur. An extensive framework of tests was run in CVRD's pilot plant. The results are presented in this paper. Finally, the decision was taken to carry out an industrial production of 50.000 t of pellets. It was scheduled for March '81. The results are shown in this pager. It was not observed any detrimental effect of the peridur neither in the process nor in the product quality.

Jan 1, 1981

By H. Kenworthy, M. M. Fine

The progress made to date in the mineral dressing of complex Arkansas titanium ores is reported in this paper. Concentrates of rutile, a dioxide of titanium, were produced by treating a submarginal ore from the Magnet Cove Rutile Co., Inc., Magnet, Ark. The rutile recovery at present is 45 to 50 pct of the total TiO2 with the possibility of increased recovery with additional research. The work reported herein is part of a general study which will later include results of investigation of other titanium ore bodies in the Magnet, Ark., area. The fragile character of the rutile minerals, the softness of the gangue, the occurrence of pyrite and leucoxene, and the considerable proportion of extremely small size rutile in the presence of montmorillonite- and illite- type clays in the Magnet Cove open-pit mine are the important factors in the mineral dressing of this submarginal rutile ore.

Jan 1, 1949

By Ihsan Berk Tulu, Ted Klemetti, Deniz Tuncay

Accurately estimating load distributions and ground responses around underground openings plays a significant role in the safety of the operations in underground mines. Adequately designing pillars and other support measures relies highly on the accurate assessment of the mining-induced loads, as well as the load-bearing capacities of the supports. There are various methods that can be used to approximate mining-induced loads in stratified rock masses, both empirical and numerical. In this study, the numerical modeling approach recently developed at West Virginia University, which is based on the modeling approach developed by the National Institute for Occupational Safety and Health (NIOSH), is investigated using the finite difference software FLAC3D. The model includes the longwall panels, the adjacent chain pillar systems, and the different stratigraphic layers of the overburden. Using the 3D model, changes in loading conditions and deformations on the areas of interest, induced by an approaching longwall face, can be examined. This paper details the 3D modeling of a longwall panel utilizing this approach, and the verification of the results against field observations. The studied panel was 360 m wide with a 3-entry chain pillar system and about a 160-m average overburden depth around the studied area. The overburden strata consist of alternating layers of shale, sandstone, and limestone. The FLAC3D results were compared against field measurements from the mine site. The stress change values measured in the chain pillars were comparable with the modeling results. The model also replicated the surface subsidence profile obtained from field measurements fairly well. Overall, the 3D modeling approach was found to be successful for the case study longwall panel.

Sep 23, 2020

By VIVEK KUMAR HIMANSHU, Murari Prasad Roy, Kaushik Dey, Rakesh Kumar Singh, Ashish Kumar Vishwakarma

Sublevel stoping is commonly adopted method in underground hard rock mining. Proper planning and its execution is the key requirement for stope extraction using this method. The stope extraction has been a challenging task since decades. The major reason being the unavailability of free faces as compared to open cast bench blasting. The geological and geotechnical parameters changes gradually even within the stope itself. So the blast design parameters should be planned according to the scenario of upcoming ring. Blast design parameters like burden, toe spacing, inclination of blast holes, diameter of blast holes, charge density of explosive etc plays an immense role in rock damage. For the proper breakage of rock, the movement of burden is prime objective. To study this, explicit dynamic based modeller of M/s Ansys was used. The burden values were varied from 20-65 times diameter to assess optimum burden value during the study. The models were simulated for the rock having 35 MPa uniaxial compressive strength and 102 mm blast hole diameter. Altogether three holes were blasted having hole depth 14-14.5m. The blast design parameters and respective blast induced ground vibration has been measured at the experimental site. Core sample of the rock of experimental site has been used for the evaluation of geotechnical parameters. These geotechnical parameters were inserted into the simulation model. The volume of rock excavated along free face has been calculated in each model. It has been found that the burden value can varies from 35-40 times blast hole diameter (3.6-4.1m) to achieve greater volume of rock along the free face for 102 mm blast hole diameter and rock of 35 MPa uniaxial compressive strength.

Feb 6, 2023

By Ehsan Moosavi, Kamyar Tolouei, Mehran Gholinejad

The literature defines rockbursts in slightly different ways based on their generation mechanisms, field phenomena, and degree of damage, but in a way that is almost consistent. Generally, a rockburst refers to seismic events that mainly happen in underground excavations, for purposes such as underground mining, road and railway tunnels, nuclear power, etc., and that are followed by the collapse and outburst of rocks. Long-term rockburst prediction can be abstracted as a classification problem mathematically, in which we can introduce deep learning to solve it. Further, using deep learning in rockburst prediction can overcome drawbacks such as subjectivity and inconsistency brought from previous traditional approaches. A rockburst data-set, was employed to evaluate the current method for predicting rockburst grade, and the good results of overall success rate were obtained. The results indicated that the proposed algorithms can speed up parameter optimization search, the proposed method is robust model and might hold a high potential to become a useful tool in rockburst prediction research.

Apr 26, 2022

By T. Inoue, K. Okaya

"Movement of mill charge in the centrifugal mill is essentially different from that in the vibration mill with circular path despite the apparently similar mode in the motion of mill body. As proved e.g. in [11], this results in substantial advantage regarding the comminution intensity of the centrifugal mill over the conventional vibration mill accounting approximately to one order of magnitude.Back in 1983, Bradley et al. presented a model of the centrifugal mill based on the kinetics of the mill charge by regarding it as a lumped mass. On the other hand, numerical modeling by ‘discrete element method (DEM)’ enabled us to observe the movement of each ball in the centrifugal mill with an extremely minute time intervals (Inoue et al., XX IMPC in 1997). The former approach rendered simple, even though approximate, expression of the mill behavior, while the latter method was advantageous in describing the behavior of the mill in terms of individual events taking place in the mill body, even though the result did not reduce to a simple expression. The characteristics of the centrifugal mill described by both these approaches proved to be in a degree of agreement. Thus, the kinetic approach was capable of presenting the overall view of the mill, while the DEM model was informative of the details that could not be depicted well enough by the simple math expressions."

Jan 1, 2003

By S. Banisi, A. Ghasemi, S. Zare, F. Ghorbani, E. Nematollahi

"Comminution is the most energy intensive operation which constitutes the major portion of operating and capital costs of the mineral processing plants. Working at the maximum operating capacity of comminution equipment plays a significant role in the efficiency of the circuit. Appropriate design of cone crusher feed box could result in the choked crushing which is known as a vital factor in achieving target performance. In this research, the non-uniform cone crusher feeding at the Sarcheshmeh copper complex was studied and appropriate measures were taken to solve the problem. The problem resulted in non-uniform and high wear rate of crusher liners and high fluctuations of power draw. In recent decades, the discrete element method (DEM) has been applied successfully to study the effect of different factors on the behavior of particles flow. In this work, various designs for feed box were tested using an in-house developed DEM software called KMPCDEM©. The best feed box design obtained from the simulations was selected, constructed and installed in of the cone crushers. The new feed box design resulted in more uniform feed distribution on the distributor plate of crusher indicated by a reduction of the standard deviation of power draw measurements from 13 to 3 kWh. The better control of the crusher, 49% increase in the crusher throughput and finer and narrower product size distribution were the main outcomes of the installation of the new feed box. Furthermore, the wear rate on mantle and liners of crusher not only decreased but it also became uniform.INTRODUCTION Comminution is the most energy intensive operation which constitutes the major portion of operating and capital costs of the mineral processing plants. Reaching the maximum operating capacity in comminution equipment is a key sign of approaching the nominal productivity of the process. Due to the effect of crusher efficiency on the downstream circuit performance, optimization of the crushing circuits has received considerable attention (Herbst, & Potapov, 2004; Quist, & Evertsson, 2010; Li, Huiqi, McDowell, Glenn R, Lowndes and Ian, 2014; Cleary, Sinnott, Morrison, Cummins, & Delaney, 2017). Improving the performance of crushing circuits not only decreases the capital and operating costs but also increases the efficiency of downstream grinding circuits (Jacobson, Janssen, & Urbinatti, 2010). In cone crushers particles can be subjected to two different modes of compressive breakage; single particle breakage (free feeding) and inter-particle breakage (choked feeding). The maximum efficiency of the cone crusher directly depends on the type of feeding arrangement (Operation Manual, 1977). An appropriate feeding must lead to choked feeding the cone crusher. If the rate and method of feeding the crushers are correctly be executed, the maximum efficiency of the crushers could be available (Jacobson et al., 2010)."

Jan 1, 2018

By Mohammed Faizal, Abdelmalek Bouazza

"The operation of ground source heat pumps combined with foundation piles can have an effect on the thermal behaviour of the pile and the surrounding soil. This paper presents the effects of continuous heating, continuous cooling, and alternate heating and cooling operations on ground and pile temperatures as well as the thermo-mechanical behaviour of a field scale energy pile. The effect of pile operation on the ground temperatures is highest near the pile and reduces with increasing radial distance. The results of the present studies generally showed that the thermal elasticity of the pile is not affected.INTRODUCTIONGeothermal energy piles are foundation piles used as underground heat exchangers to maintain thermal comfort in buildings, via the use of ground source heat pumps (GSHPs). Ground source heat pumps are more economical and environmental friendly compared to conventional heat pumps. Energy piles can be combined with supplemental surface heaters or coolers, known as hybrid systems, for forcefully recharging the ground during non-operational times of the GSHP. Alternative heating and cooling of the GSHP improves geothermal energy usage and alleviates heat build-up in the ground and provides a balance of ground temperatures around the heat exchanger (Jalaluddin and Miyara, 2012).The temperatures induced in the piles during GSHP operation can lead to a complex response of thermal strains and stresses in the pile concrete. An assessment of the thermo-mechanical response of energy piles for various thermal loads may assist engineers in the design process. Furthermore, an assessment of ground temperatures will also highlight any potential thermal interactions with other energy piles in actual building operations.At present, the thermal strain and stress distribution in field scale energy piles has mostly been studied for continuous operation (Laloui et al., 2006; Bourne-Webb et al., 2009; McCartney and Murphy, 2012; Akrouch et al., 2014; Mimouni, 2014; Murphy and McCartney, 2014; Murphy et al., 2014; Wang et al., 2015). These studies have contributed considerably to the understanding of the axial thermal strain and stress distributions in the piles and have shown that pile thermal behaviour is mostly thermo-elastic without inducing major structural concerns.The present paper adds to the current knowledge by assessing the pile thermo-mechanical and ground thermal response for continuous and alternating thermal loads of a field scale energy pile. The operation modes studied are 24 hours continuous cooling (Faizal et al., 2015), 24 hours continuous heating, (Wang et al., 2015) and alternate heating and cooling operation (Faizal and Bouazza, 2016). The forced ground thermal recharging is done during the non-operating times of the cooling unit, simulating a solar hybrid GSHP system for a scheduled intermittent mode of operation."

Jan 1, 1900

By José R. Parga

In some parts of the Comarca Lagunera with population of about 2.5 million people, situated in the central part of northern México, chronic arsenic poisoning is endemic and severe adverse effects attributed to As exposure have been reported. Lifetime exposure to arsenic will develop classical symptoms of arsenic poisoning such as skin pigmentation changes, gastrointestinal disturbances and neurological changes. There are several methods available for removal of arsenic from well water in large conventional treatment plants, however a very promising electrochemical treatment technique that does not require the addition of chemicals or regeneration is Electrocoagulation (EC). The EC operating conditions are highly dependent on the chemistry of the aqueous medium, especially conductivity and pH. In this study, Powder X-ray Diffraction (XRD), Scanning Electron Microscope (SEM), and Transmission Mössbauer Spectroscopy (TMS) were used to characterize the solid products formed at iron electrodes during the EC process. This study will provide an introduction to the fundamental concepts of the EC method. Finally the results of this study suggest that the presence of maghemite and magnetite particles can be used to remove arsenic (III) and arsenic (V). In the field pilot plant scale study more than 99% removal of As species from groundwater is achieved.

Jan 1, 2005

By P. A. Schmitz

The characteristics of gold leaching from carbonaceous matter by sodium cyanide, and sorption of gold cyanide to carbonaceous matter in autoclaved and non -autoclaved gold ore from Barrick Goldstrike Mines Inc. (BGMI), Nevada, was investigated. Much greater gold cyanide complex sorption was observed for the carbonaceous matter in high preg-robbing ores relative to the low preg-robbing ores. This observation corroborates previous reports that have attributed observed preg-robbing behavior to the carbon in the ore. Gold cyanide complex sorption was found to be reversible for carbonaceous matter from low preg-robbing ore, but was irreversible for carbonaceous matter from high preg-robbing ores. Autoclaving the ore appeared to enhance the sorptive behavior of the carbonaceous matter from both high and low preg-robbing ores.

Jan 1, 1999

By E. M. Murphy

(Presented by invitation at a meeting of the Spokane Local Section of the Institute, Feb. 17, 1912.) EIGHT years ago the Hecla mine, a lead-silver producer, situated at Burke, Idaho, was producing ore from but two levels, the 300- and the 600-ft. All hoisting was done with a 12- by 16-in. slide-valve, double-reel, hoist. The hoist was being worked to its capacity and was unsuitable for hoisting from greater depths. As the work of opening a new level was about to be started, it became necessary to remodel the then-existing equipment or install a new hoist. The recent advent of electricity from Spokane had made available a cheaper power than steam. By a series of tests conducted throughout the Coeur d'Alène district, it was found that it cost $109 per year to generate a horse-power with steam. Electric power was to be had for $50 a horse-power per year. It was decided to substitute for the engines a motor-drive, of sufficient capacity to operate from the 900-ft. level, and ultimately install an entirely new hoist. After disconnecting the engines, installing a new shaft, and making a few minor changes, a 300-h-p., 2,300-volt, 514-rev. per min., variable-speed motor of the induction type was geared to the reel-shaft. The reels were supplied with 3/8 by 4-in. flat rope, and the duty of the hoist was about as follows: Cage, 1,700; ore, 2,600; car, 1,400; rope, 2,250; total, 7,950 pounds. The Bristol ammeter chart, Fig. 1, shows the combined current-consumption of the hoist- and mine-motors. The large intermittent load is clearly shown ; this produced harmful fluctuations in the voltage of the long, lightly-loaded, 60,000-volt transmission-line from Spokane to the Coeur d'Alènes. The power company received no compensation for the increased cost of producing power for this intermittent or fluctuating load. In order to protect its system from similar excessive

Sep 1, 1912

By Carl Scholz

Discussion of the paper of Carl Scholz, published in Bi-monthly Bulletin, No. 22, July, 1908, pp. 551 to 559. HOWARD N. EAVENSON, Gary, W. Va. (communication to the Secretary*) :-For some time before the publication of Mr. Scholz's paper, I had been collecting data bearing upon its subject, and I now take pleasure in presenting my results to the Institute in the form of a discussion. It has long been a matter of common opinion among mining-men that mice-explosions are, more frequent during the colder, or winter months, than during the warmer ones, and it is a matter of common knowledge among them that the air-ways and road-ways in most mines are much drier and are more in¬clined to be dusty during the winter than during the summer. In many mines, places which are wet and sloppy in the summer are dry and sometimes dusty during the winter. These changes, of course, can only be due to atmospheric conditions, and are caused by differences in temperature and humidity. Until recently, however, very little attention has been paid to the part that atmospheric conditions may play in mine-explosions, or, rather, to the effect they may have in rendering mine-conditions peculiarly dangerous, and in spreading and rendering more disastrous the effects of what would otherwise probably have been .small explosions. To show the difference in mine-conditions during sunnier .and winter months, I have tabulated in Table I. the results of 24 observations of hygrometric conditions in several different mines at different times of the year. Mines Nos. 1, 2, and 6 are located in the Pocahontas.coal -region, in McDowell couuty, W.Va., the first one being a shaft-mine shaft mine and the others drift. Mines 1A and 2A are drift-mines located in Logan county, W. Va. All of these are mines of fair size, but none of them has been in operation more than six years,

Jun 1, 1909

By R. E. Allen

THERE was once a time when a practical oil man would appraise or buy a producing property on the basis of from $200 to $500 per barrel of average daily settled production. Curtailment-has, for the present at least, caused a virtual abandonment of the "barrel -of settled production" as a yardstick of, oil property value and in its place has come the "barrel of allowable production," which, although an artificial thing, is nevertheless now the principal factor governing the rate of ?pay out? or investment return. The potential production of a well, settled or otherwise, is of less importance in determining the present worth of a well than is the rate at which it may be produced. Speaking only of true potential for the moment, it is obvious that of two similar wells having the same potential, the one having the highest rate of allowable production would be worth proportionately more than the one of lesser allowable. The discount factor for deferred return and risk can easily vary the present values of the two wells by as much as 20 per cent when allowable rates are not greatly different.

Jan 1, 1934