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By D. M. Abbott

The requirements of the International Mineral Property Valuation Standards Template (IMVAL Template) (includes Petroleum), 4th edition of April 14, 2021, are based on six principles: 2.1.1 competence, 2.1.2 materiality, 2.1.3 transparency, 2.1.4 objectivity, 2.1.5 independence, and 2.1.6 reasonableness. The IMVAL Template describes “reasonableness” as, “The Valuer must ensure the Reasonableness of the Valuation. Any Valuation, assumptions applied, and any method relied upon should be reasonable within the context of the purpose of the Valuation and the Basis of Value. A method applied to the subject Mineral Property should be within the expected capability and consideration of an assumed likely buyer or lessee of the property.” The IMVAL Template’s Guidance 3.6 on Reasonableness states, “The test of Reasonableness is to consider what appropriately qualified and experienced Valuers, acting reasonably, would conclude in the circumstances. The Valuer must form an opinion that is reasonable in the circumstances, that is, what a Valuer believes is rational and plausible in the circumstances and would be viewed as such if considered by other appropriately qualified and experienced Valuers with the same information and at the same time.” Finally, the IMVAL Template’s Definition 4.26 states Reasonableness “[m]eans that other qualified and experienced Valuers with access to the same information for the same Valuation Date and Basis of Value would consider the Valuer's estimate of Value to be within a reasonable range.”

Mar 2, 2022

By Alan G. Mayton

The Bureau of Mines conducted one of the most extensive studies on surface mine illumination to date, to assess the illumination needs of mobile surface mining machinery with respect to the visual tasks required of machinery operators. Field Investigations were performed at 22 surface mining operations, coal and metal-nonmetal, within several mining regions of the United States. Visibility and illumination were measured for 159 visual tasks performed by equipment operators on or near 57 surface mining machines, including draglines, shovels, blasthole drills, bulldozers, loaders, haul trucks, graders, scrapers, and several service-type vehicles.

Jan 1, 1987

By H. W. C. Prommel

The increase in the price of gold in 1933 was the cause of starting many activities in gold prospecting and mining; it led to investigations of many of the so-called desert placers in the Southwest, which heretofore had not been deemed of commercial importance. Among these, attention was called to some of the gravel beds in the vicinity of the Randsburg-Atolia mining districts of Kern and San Bernardino Counties, Calif., in which gold and scheelite, (calcium tungstate, CaW04) were said to be present. Following a partial sampling and testing of the gravel, large-scale operations were begun in 1935. During the same year more detailed sampling and testing of the gravel beds were done by the author. During 147 days, 1,239 test holes 28 inches in diameter were drilled; their total depth amounted to 16,705 feet. These test holes furnished 2,495 samples of an average volume of 1.0583 cubic yards bank run each; all of the material was run through a sample mill constructed on the property. Original and rather unusual sampling and testing methods had to be used; milling and mining methods for large-scale operations also offered difficulties. The primary purpose of this drilling and sampling campaign was to determine, over a large area, the amounts of gold and scheelite recovered by placer methods such as were already in use on the property. This paper describes sampling and testing methods employed by the author during the 1935 drilling campaign. LOCATION The gold and scheelite placer deposit is in the Atolia tungsten mining district about one-half mile west of the small mining town of Atolia and about 5 miles south of Randsburg in the Randsburg gold-mining district. The deposit lies near the foot of the Rand Hills, in the Mojave desert. The territory is served by hard-surfaced roads from the north and south; Los Angeles is 150 miles to the southwest. A branch of the Southern Pacific Railroad passes within 5 miles of Randsburg.

Jan 1, 1937

By C. H. Rawlins

The total amount of ferrous slag generated in the U.S. is about one-third the amount of iron ore mined, thus ferrous slag can be considered a significant mineral body for processing. Steelmaking slag contains up to 30 wt.% metal of which only the >25mm fraction is commonly recovered. A grinding study was conducted of BOF, EAF, and LMF slags using the Bond Work Index method to determine grindability to 106µm. Work Index values obtained were 13.8-24.9 kWh/ST, depending upon the slag type and composition. Steel particles were magnetically recovered from the crushed and ground samples for size-by-size analysis, yielding up to 18 wt.% of the slag weight recovered as magnetic. The recovered material, as characterized by inert gas melting, was found to be 61-96 wt.% metallic.

Jan 1, 2008

By Yuexin Han, Wenbo Li, Xinran Zhu, Pengchao Li

A multi-stage fluidization magnetization roasting is a promising method to treat limonite ore. The dehydroxylation of limonite ore is a key reaction in the pre-heating stage. In this study, the dehydroxylation mechanism of limonite was studied in a laboratory fluidization roasting reactor. The samples were characterized using in situ X-ray diffraction, Fourier transform infrared spectroscopy, and simultaneous thermogravimetry and differential scanning calorimetry analysis. The phase transformation and kinetics analysis were studied. Results indicated that the dehydroxylation occurred at the temperature of 250–350 °C with the vanish of hydroxyl functional groups (-OH). The dehydroxylation kinetics followed the 2-D diffusion (Jander) reaction model G(α) = [1 − (1 − α)1/2]2, and the calculated activation energy was 113.43 kJ·mol−1. This study is conducive to exploiting limonite ore resources using magnetization roasting technology.

Nov 2, 2023

By Dale A. Walters

The thermal recovery of bitumen reservoirs by steam assisted gravity drainage (SAGD) is often designed to maximize the operating pressure. In general, the benefits of higher operating pressures are higher steam temperatures that maximize the reduction of oil viscosity, potential permeability enhancement associated with lower effective stress and shear dilation, and a larger pressure window to allow flexible control of the producer. This is especially important for shallow reservoirs where the pressure window for injection and production is smaller. Higher operating pressure can reduce thermal efficiency (due to heat losses), but the other benefits usually compensate. The limitation of the maximum operating pressure is then based on maintaining caprock integrity. Thus, shear and tensile failure mechanisms must be quantified and managed. This paper presents a geomechanical analysis of caprock integrity for SAGD operation. Both analytical and numerical approaches are used to investigate the modes of caprock failure. Main factors in the analysis are the knowledge of the initial stress state and proper representation of the complexity of the geomaterials. Typical initial stress states for northern Alberta are presented showing the potential for low initial minimum total stress and elevated initial shear stress levels. The stress-strain behavior for the sand and caprock materials is discussed focusing on the potential for shear dilation in the sand and shear strength behavior in the caprock. Elasto-plastic constitutive models used to represent the sand and caprock are presented and compared using numerical analysis. The increase in pressure and temperature alter the stress state and disturb the soil matrix. This disturbance results in shear dilation of the sand matrix creating regions of enhanced permeability and porosity. Also, the transfer of stress and strain to the caprock causes dynamic stress changes and, therefore, dynamic behavior of shear and tensile failure conditions. Calculations are presented showing the stress paths associated with SAGD operations, suggesting better design of lab testing programs and the implications for shear dilation in the sand and shear failure in the caprock.

Jun 1, 2012

"A long-term mine production schedule optimization based on stochastic integer programming is presented that manages the risk due to geological variability and uncertainty while jointly considering mine profitability, truck fleet requirements and waste management. The evolution of the pit is controlled so that space within the mined-out pit is continuously provided to allow for tailings and waste rock to be replaced, thus minimizing the project’s environmental footprint. The method is applied at a taconite iron ore deposit and has a project net present value that is 16.9 percent higher than that of a conventional schedule and has a higher chance of meeting production forecasts. The stochastic schedule reduces equipment requirements by delaying waste mining and by mining selectively in order to meet plant ore feed requirements without stockpiling material, resulting in 23.7 and 26.2 percent lower mining capital and operating costs, respectively. IntroductionThe LabMag iron ore deposit is part of the Millennium Iron Range, a 210-km (130-mile) belt of taconite in northern Quebec and Labrador, Canada. LabMag has significant economic potential. It contains more than 3.3 Gt (3.6 billion st) of proven reserves at an average total iron content of 29.8 percent and is very low in impurities. However, on a project basis of 23 Mt/a (25 million stpy) of product, the required capital expenditure is estimated at more than $5 billion (SNC-Lavalin, 2014), which necessitates careful evaluation of all sources of risk. Resource estimation is one of the main sources of risk in a mining project as knowledge of the orebody is primarily based on drilling, which is often sparse because it is expensive. If the expected ore tonnages and qualities are not obtained when mining, the project cash flows are directly affected. The expected quantities and qualities of ore and waste are defined by the mine production schedule, which specifies the sequence of extraction and is dependent on the resource estimation. The goal of mine production scheduling is thus to maximize the expected profit, while also meeting all production targets and constraints, by creating an extraction schedule that is robust in the face of geological risk and has the highest chance possible of actually being realized."

Jan 10, 2017

By T. Nagano

Mitsubishi Metal Corporation started the development work of a new process for continuous production of copper in 1961. After a series of experimental and semi-commercial operations, the first commercial plant of the Mitsubishi Continuous Copper Smelting and Converting Process was put into operation in March, 1974. The new plant, which has a design capacity of 4,000 metric ton copper per month, was built within the premises of Naoshima Smelter, replacing the old No.1 reverberatory smelter there. The SO2-rich exhaust gas from this new plant is blended with the off-gas of the No.2 reverberatory furnace for production of sulfuric acid and the overall emission of sulfur at Naoshima has been greatly reduced. The operation of the continuous plant has been satisfactory and several advantageous features of the Mitsubishi Process have been proven on a commercial scale. This paper first gives a brief description of the history of the development work and the characteristic features of the process. The paper then describes the new commercial plant and operating data obtained so far.

Jan 1, 1976

By Robert B. Tippin

A number of recent studies 1-4 suggest that steelmaking expansion might be achieved more economically by a combination of the prereduction furnace and the electric steelmaking furnace rather than through new blast furnace construction. Supergrade concentrates would be the first step in an evolving technology which bypasses the blast furnace and in which the concentrates are first made into pre¬reduced pellets and then used directly in electric steelmaking, Prereduced pellets made from superconcentrates should not only be competitive with scrap, but should be a preferred feed for the electric furnace because of the absence of such residual elements as copper and nickel. Furthermore, geographic areas remote from present steelmaking centers may find the electric furnace to be an economical method of providing local steel requirements. The development of successful methods of producing superconcentrates may also be expected to find application to conventional blast furnace burdens. The need for methods of increasing grade of domestic concentrates will become increasingly urgent in the face of competition from high grade imports. Only a small percentage of domestic iron ore production can qualify as superconcentrates, (Superconcentrates for the purpose of this investigation are limi¬ted to those concentrates which contain a maximum of 2 percent S'02). During the last several years the Twin Cities Metallurgy Research Center of the Bureau of Mines has directed research efforts to develop methods of manufacturing superconcentrates from present standard grade products by cationic flotation, screening, and magnetic separation.

Jan 1, 1971

By James O'Brien, Lyman Frost, Grant Hawkes, S. Elangovan, Manohar Sohal, J. S. Herring, Joseph Hartvigsen, Carl Stoots

"Pressing environmental and energy security concerns have brought much needed attention to economic production of hydrogen as the secondary energy carrier for non-electrical markets as well as to meet increasing demand for crude upgrading and desulfurization. While steam reforming of natural gas is currently the dominant method of hydrogen production, it is depleting a valuable fossil fuel while emitting green house gases. Thus, in the long run, efficient, environmentally friendly, and economic means of hydrogen production using nuclear and renewable energy needs to be developed. High temperature electrolysis using solid oxide electrolyte cells is an exceptionally efficient means of generation of high purity hydrogen. It is also capable of directly converting steam and CO2 into synthesis gas. This co-electrolysis process enables conversion of CO2 recovered from concentrated industrial sources into a feedstock for synthetic fuels production. Use of CO2 provides a means of storing hydrogen in a concentrated and convenient form – a hydrocarbon. This is also an effective storage medium for intermittent renewable energy sources such as wind and solar.Ceramatec, Inc and the Idaho National Laboratory are applying solid oxide fuel cell technology to the production of synthesis gas by high temperature co-electrolysis of steam and carbon dioxide. This technology utilizes solid oxide fuel cell stacks to electrochemically remove oxygen from steam and CO2, leaving a clean stream of hydrogen and carbon monoxide suitable for fuel synthesis. By varying the relative concentrations of carbon dioxide and steam, the hydrogen to carbon monoxide product ratio can be controlled as required by the desired type of synthetic fuel being produced from the syngas. The resultant synthesis gas has been used as the feedstock to produce synthetic methane and Fischer Tropsch liquid fuels.Alkaline and proton exchange membrane electrolysis cells typically operate below 100°C, while solid oxide electrolysis cells operates in the 750-850°C range. This higher temperature improves the efficiency significantly. Practically, it translates into a lower cell operating voltage, 1.1-1.4V for high temperature electrolysis vs. ~1.8V for water electrolysis. Hydrogen production is stoichiometric with current in all types of electrolyzers.Carbon dioxide is a valuable resource as a feedstock for energy storage as a hydrocarbon. There is a vast amount of renewable energy that cannot be effectively utilized as grid electricity, but which could be used to convert CO2 to hydrocarbons, offering a solution to the even more difficult (than supplying grid power) challenge of production of sustainable, domestic transportation fuels. Conventional electrolysis and chemical processes could be deployed to accomplish this conversion. However, high temperature co-electrolysis of CO2 and steam to produce synthesis gas using solid oxide fuel cell technology has the potential of improving the efficiency by nearly 50%. A domestic synfuel industry will enable a much larger reliance on intermittent renewable energy than can be accommodated by conventional electric demand profiles while increasing our energy security."

Jan 1, 2010

By Raymond B. Ladoo

Talc mining ·in the state of New York was first started about 1876, but important production did not start until 1880, when about 4,000 tons were shipped, In 1883 the production was about 6,000 tons valued at $75,000, or an average of $12.50 per ton, From this date the production gradually inc~eased to a peak of 93,236 tons in 1916, valued at $961,510 or about $10,30 per ton, In 1918 the production declined to 71,167 tons valued at $902,100, or about $12,70 per ton. For ma.ey years New York ,-Jas the largest producer in the United states, but in 1917 and 1918 its output was surpassed by Vennont in tonnage thou[;h not in value. In June, 1920, there were three companies producing talc in the Gouverneur district, st. La,1Tence Co'Ul'lty, and one near Natural Bridge.

Oct 1, 1920

By Eugene N. Cameron, Igor N. Sviatoslavsky, Harrison H. Schmitt, Gerald L. Kulcinski

The recent discovery of large amounts of helium-3, a valuable thermonuclear fuel, on the surface of the Moon has prompted engineers and scientists to examine the commercial attractiveness, thetechnological feasibility, and the environmental features of this important resource. The main feature of this fuel cycle is the low (˜ 1%) fraction of energy released in neutrons. Such low neutron fluxes result in important reductions in the amount of radioactivity, afterheat, and radiation damage in a fusion power plant. On the other hand, the high fraction of energy in charged particles and synchrotron radiation can be directly converted to electricity, resulting in very high efficiencies of electricity production (˜60.70%). It has been shown that there is 10 times more energy in He3 on the Moon than there ever was in fossil fuels (i.e., coal, oil, and gas) on the Earth. The techniques and equipment needed to extract the helium-3 have been examined and internationally acceptable mechanisms for the industrial development of this resource have been outlined. This paper expands on the financial, environmental, and technical aspects of the recovery of helium-3 for use in the 21st century.

Jan 1, 1990

By AIME AIME

APPARENTLY unperturbed by any misgiving as to ill luck connected with the mystic number thirteen -for there were exactly that number of Directors on deck-the Board held two sessions on Tuesday, Feb. 21. , . Between the executive session at 5:15 p. m. and the general session at 8:30 p. m., 28 Section and Division delegates were wests of the Directors at dinner. Committee chair- " men and past officers brought the attendance to 75. Messrs. McAuliffe, Merica, Mudd and Tally had expressed their intention to be at the Directors' meeting, but each was prevented unavoidably at the last minute. At the executive session of the Board, J. V. W. Reynders was unanimously chosen to fill the unexpired term of Dr. Becket as Director: and Eugene McAuliffe in like " manner was selected to become Vice-president to fill the vacancy created hy Dr. Becket's assumption of the Presidency. Upon nomination of President Becket the following Executive Committee was appointed: Frederick M. Becket, chairman; Howard N. Eavenson, H. A. Guess, J. V. W. Reynders and William Wraith; and the Finance Committee was appointed as follows: Henry Krumb, chairman; Paul D. Merica and H. G. Moulton. Karl Eilers was reelected Treasurer and A. B. Parsons was re- elected Secretary to serve for the ensuing year, whereupon the executive session was adjourned.

Jan 1, 1933

By P M. Hetherington, F A. Pym, M P. Murphy, K E. Crook

Consultants in the mining industry have the opportunity to visit interesting deposits all over the world. Each deposit has its own set of challenges to face when it comes to defining and understanding the deposit geology and the economics to make it viable for extraction. Some of the challenges can include appropriate data capture, sampling techniques, structural characteristics, geochemistry, geophysics, lithology definition, and economic boundaries. It is essential that the practices used at each deposit (eg drilling, sampling, geological modelling, resource estimation etc) are documented and the results obtained are robust and defensible. The Competent Person is not always aware of instances where their resource estimation practices have not been substantiated. ‘You don’t know what you don’t know’ is a phrase frequently used during a mineral resource audit. Technical work to substantiate drilling, sampling, density, assaying, geological modelling and estimation processes is not always completed. Audited Competent Persons often comment: • ‘I was unaware that this was required.’ • ‘I have not had training in this area and do not know how to complete the checks required.’ • ‘This is how we’ve always done it.’ Examples of audits where it was found that geological practices were not substantiated are examined here. A discussion is included on why substantiation of these practices is important, and potential reasons as to why there are instances of unsubstantiated processes and practices are discussed.

Mar 22, 2022

By P. J. Bourassa

Incorporated in 1957 under the laws of the Province of Quebec, Quebec Cartier Mining Co. undertook the development of its low-grade iron ore reserves located at Lac Jeannine in the southwest extremity of the Quebec-Labrador trough. This challenge comprised the construction of a 200-mile access road, two towns, a 191-mile-long railroad from Port Cartier to Lac Jeannine, a hydro-electric generating plant on the Hart Jaune River, and mining, crushing, concentrating and ancillary facilities to support a yearly production of 8.0 million tons of iron ore concentrates at 66% Fe. In order to meet increasing market demands for iron ore concentrates concurrently with the depletion of its Lac Jeannine reserves , Quebec Cartier announced, late in 1969, the first step toward bringing into production a new iron ore deposit, known as Mount Wright, located 70 air miles northeast of Lac Jeannine and 25 miles southwest of Labrador City, Newfoundland. In September 1970, the company announced its decision to develop and bring into production its Mount Wright reserves at an annual rate of 1 8.4 million dry long tons. The scope of this project included the construction of an access road linking the mine, the new town and Labrador City, Newfoundland, the extension of the railroad by some 86 miles, the construction of an ore concentrating plant with all the ancillary facilities, the development: of the mine, the construction of a pourer transmission line and a new town adjacent to Lake Daviault. The Mount Wright story is divided into five individual papers covering: (a) the history and development of the project; (b) the mine; (c) plant control by a process computer; (d) crushing, grinding and concentrating; and (e) the townsite of Fermont.

Jan 1, 1977

By Robert C. Handfield

The trip from Denver southwest to Gunnison crosses seven main geologic and physiographic areas as shown on the accompanying map. These are: I Mesozoic and Tertiary sedimentary rocks of the Denver Metro area from downtown Denver to the foothills near Morrison. II Precambrian metamorphic and igneous rocks of the Front Range from near Morrison to the west side of Kenosha Pass. III Sedimentary and volcanic rocks of South Park (Paleozoic, Mesozoic and Tertiary) from the west side of Kenosha Pass to Trout Creek Pass. IV Precambrian granitic rocks (1,350-1,480 M.Y.) between Trout Creek Pass and the Arkansas River. V Tertiary and Quaternary sedimentary rocks and sediments of the Arkansas River valley. VI Precambrian metamorphic and igneous rocks and Paleozoic sedimentary rocks of the Sawatch uplift from Maysville to near Doyleville on the west side of Monarch Pass. VII Mostly sedimentary rocks of Cretaceous and Tertiary age from the Doyleville area west to beyond Gunnison. Each area will be elaborated in the following pages but no detailed road log is given since these are available elsewhere. An attempt has been made to point out some deposits and features of interest to economic geologists but it is by no means complete.

Jan 1, 1983

By Wen Xuan

Concentrados ?midos de minério de ferro podem se congelar durante o inverno e ficarem presos nos vagões de transporte, dificultando o descarregamento e a operação. Este problema vem sendo observado nas minas de Kryvyi Rih, Ucrânia e Mont-Wright, Canadá, onde o minério de ferro possui respectivamente 10,5% e 3,5% de umidade e, durante os invernos rigorosos, as temperaturas podem chegar a valores abaixo de -20°C. Nestes locais, uma grande quantidade de energia e tempo tem sido gasta para aquecer e descongelar os vagões. Este artigo mostra que polímeros superabsorventes, como o poliacrilato de sódio, podem evitar o congelamento e facilitar as operações de descarregamento e manuseio, além de possuír fácil aplicação, sendo eficientes quando aplicados apenas no fundo dos vagões, sem a necessidade de se misturar o polímero com o concentrado de minério de ferro.

Aug 17, 2017

By R. F. Linfield

Figure 1-1 shows the basic transmitter design concepts used for the pulse system, the half-wave CW system, and the full-wave CW system. The antenna current waveform is also shown for each transmitter for typical operating frequencies and antennas. The switches shown in Figure 1-i were actually implemented using solid state devices. In all three systems the signaling format may be interrupted to conserve power and thereby extend battery life. Frequency accuracy and stability is achieved using a tuning fork oscillator in the transmitters and tuning fork filters in the receivers for all three systems. This provides the narrow reception bandwidths needed to enhance signal detectability. All three systems also use frequency assignment for identification purposes. The location schemes employed are likewise identical, each being based on detecting the null (signal minimum) of the horizontal magnetic field on the surface. Since these systems are basically similar, the primary purpose is to select the system which gives the maximum signal detectability on the surface from a manpack transmitter operating in the mine. Both the pulse and half-wave C W systems use a d. c. pulse to energize the loop antenna. However, with the pulse system, this pulse duration is short compared to the pulse repetition rate (prf), whereas with the half-wave C W system the pulse duration equals one-half the period of the switching frequency. In the pulse system, energy from the battery is stored in a capacitor so that during the switching interval the internal resistance of the power source can be considered almost negligible. Both transmitters must drive a loop antenna which is a reactive load having inductance, L, and resistance, Ra.

Jan 1, 1973

By A. V. Faiberg

Currently, the interest to conditioning of cyanide-bearing recycled solutions with high-grade of base metals, in particular, copper has significantly grown. This can be explained by two major factors. Firstly, there are strict regulations on cyanides amount in tails and higher cost of detoxification processes. This problem can be easily solved during the ore treatment using the conditioning of solutions and water recycling. Secondly, the presence of other metals minerals which react with cyanide during gold leaching resulting in high cyanide consumption. The presence of copper is a major problem. Many copper minerals react with cyanide with the formation of cyanide complexes-Cu(CN)2-, Cu(CN)32- and Cu(CN)43-. One mole of copper consumes 2-4 moles of free cyanide. Availability of cyanide-soluble copper minerals has deleterious effect on gold leaching (gold recovery, cyanide consumption, tails detoxification, efficiency of gold elution and electrowinning). The precipitation of copper from the solutions improves gold recovery by CIL. The removal and recycling of cyanide allowed the reduction of cyanide addition to the process. The recycling of spent cyanide-bearing solutions based on the removal of copper and the return of cyanide bound in complex compounds for leaching process is an optimal way of solving the problem of gold-bearing copper ores treatment. By using the technology, an adverse impact onto gold recovery process is eliminated and at the same time reducing the cyanide consumption. Today, processes and methods of high-grade copper leaching solutions conditioning before and after gold recovery have been developed, which combine two ways of copper recovery: as a saleable product and cyanide to recover gold and reduce total operating costs. They are Cutech, MNR, SART, Cyanomet, AuGment, Vitrokele, Hannah and Cyanisorb. At the same time, these technologies have not been studied enough and described in literature. Data on parameters and operating conditions as well as introduction is not available. The conditioning technology of recycled solutions developed by IRGIREDMET JSC allows copper to be recovered as high quality concentrate and at the same time free cyanide regeneration in the recycled solution which is amenable to gold leaching. This technology was commercialized at a mine in Kazakhstan in 2008. The removal and recycling of cyanide does not require additional cyanide and is cost-effective. More cost-efficiency is achievable through selling copper concentrates, closed water cycle without the detoxification of effluents and enhanced gold recovery by CIL and cathode quality.

Sep 1, 2012

By H. J. Wasson

WITH the close of 1932 and the third year of the depression, the activity of oil production presents, amidst the general wreckage and chaos of industrial society, a somewhat unique picture of rationalized economic effort. East Texas still dominates the contemporary horizon, but it has become, at least for the time being, a definitely known factor. With its 9500 wells it is approximately 90 per cent drilled up. So long as production control obtains, it is merely one important factor of the national oil reserve. Each succeeding month of stabilized production tends to lull the industry's fears and the menace, both actual and psychological, of this giant field becomes ever more remote.

Jan 1, 1933