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By Sherwin F. Kelly

Twenty five years of exploration has shown that the "geophysical dollar" is worth $1780 in the Orange Free State, $1488 on the Witwatersrand, $85 in Sweden, $28,000 in the Transvaal and $3500 or more in the U.S.

Jan 6, 1951

Jan 1, 1967

By A. W. Schlechten, R. P. Abendroth

Jan 1, 1960

By J. B. Dyess

TARNISH films on some of the common metals (particularly on copper and silver) have been of much scientific and commercial concern for a long time, but before the development of the electrical method1 of measuring film thicknesses there was no satisfactory quantitative approach by which to study the separate parts of these complex films. This method has been adapted to the measurement of duplex (cuprous-cupric) oxide films on copper .2 In the present work it has been used to measure tarnish films on copper when they were mixtures of cuprous oxide and cuprous sulphide, and also when they contained cuprous oxide, cupric oxide and cuprous sulphide, each component part being measured at a different potential value. Oxide-coated copper specimens, prepared by heating copper in air at chosen temperatures for given periods, were exposed to moist hydrogen. sulphide in air to form the various oxide-sulphide films studied. The comparative resistances afforded by (1) different thicknesses of oxide films, and also (2) equal thicknesses of oxide and sulphide films, against severe attacks of hydrogen sulphide were measured. The electrical method requires that the time be observed for the cathodic reduction of each part of the film substance, and these respective time values multiplied by the constant current give the corresponding quantities of electricity expended. Then each millicoulomb per square centimeter represents a film thickness of T= MX10 8 2D X 96,494 X 103 (a) where M is weight of oxide (or sulphide) giving one gram-atom of oxygen (or sulphur) for cathodic reduction, D is density of the oxide (or sulphide) and t is the thickness in Angström units per millicoulomb per square centimeter. The value of t for cuprous sulphide (cubical) is 14.27, and is obtained by substituting 5.78 for D and 159.20 for M in equation a. Previous values2 of t for cuprous and cupric oxides (12.36 and 6.39, respectively) were used in the present work.

Jan 1, 1939

Jan 1, 1966

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By E. Northcott, I. M. LeBaron

Before describing the electrostatic processing of feldspar, it might be well to review some of the basic definitions and terminology of feldspars. The feldspar minerals constitute a group of alumino-silicates of potassium, sodium, and calcium. Barium feldspar sometimes occurs naturally but is very rare. Hardness varies between 6 and 6.5 and specific gravity between 2.5 and 2.8. Color is generally white or pale shades of red, yellow, or green. The approximate chemical composition of the principal feldspars is given in Table I. The albite (sodium aluminum silicate) and an-

Jan 1, 1959

By John V. Beall

Monotonous flood planes flanked either side of the road as we drove in the embassy car from the airport to downtown Seoul. We crossed the brown waters of the Hann River, meandering over mud flats. A great, gnarled tree bore beautiful fall colors of gold. "That is a Ginko Tree, the oldest living fossil, probably a hundred million years old;" said Jean W. Pressler. Compared to other cities of the Far East, the traffic in and around Seoul was sedate. Few motorcycles or bicycles, and little superfluous horn tooting. "This is the best season in Korea. We have long beautiful springs and falls," said Pressler, chief of the mining branch of USAID, and he continued with a briefing on the country.

Jan 8, 1969

By J. B. Gayle

PRESENT flotation processes depend almost entirely on the buoyant properties of air bubbles to effect separations of mineral and gangue, but there is no convenient method for measuring aeration in flotation cells. Consequently the relation between aeration and cell performance has not been definitely established. In connection with a comparative study of kerosene and froth flotation processes, a modification of the displacement method' was developed in which air escaping from the cell surface is measured with a wet-test meter. The arrangement shown in Fig. 1 is satisfactory for use with a number of cells and is not critical, except that care must be taken to use connections and tubing large enough to avoid excessive back pressures. Attempts to use smaller tubing resulted in back pressures that caused displacement of the liquid level in the receiver, so that some air was lost around the sides, an occurrence readily visible when measurements were taken with only water passing through the cell. With the arrangement shown, the manometer indicated an average reading of about 1/2-in. water pressure. No loss of air was evident. Fig. 2 presents typical data for a standard Denver sub-A 24x24-in. unit cell operated at impeller speeds from 0 to 710 rpm. Each plotted point represents the average for five readings distributed over the entire cell surface. Readings were taken with only water passing through the cell. Results of this type have been used in a study of the influence of operating variables on cell performance and in detecting inherent differences in the operating characteristics of cells of various kinds. Although the information presented in Fig. 2 resulted only with water passing through the cell, the apparatus is suitable for use during flotation of coal when various reagents are present. Possible modi- fications that might prove convenient under special circumstances include varying the size and shape of the receiver and substituting a calibrated, inverted, water-filled carboy or other gas-measuring device for the wet-test meter. If such modifications result in excessive back pressures, some form of draft should be applied at the discharge end of the measuring system.

Jan 1, 1959

TULSA SECTION At the smoker concluding the two day meeting of the Tulsa section of the American Institute of Mining and Metallurgical Engineers, Tulsa, Okla., Feb. 26, 1919, Dr. Willis T. Lee, the new head of the Geological Department of the University of Oklahoma, was introduced to the assembled geologists and mining engineers. Dr. Lee requested that the geologists and engineers who were making a specialty of petroleum geology assist him in giving a good course in practical oil geology in the Geological Department of the University. After a motion offering the services of all present in giving lectures on their special subjects had been adopted, Dr. Perrine of Hutchinson, Kans., named the geologists who were pledged to give lectures in Dr. Lee's course. The students in geology at Norman are assured of the latest information regarding practical work in petroleum geology and will have the inspiration derived from contact with men who are actually at work upon the problems which they are studying. Dr. Lee and President Brooks of the University are to be congratulated upon the introduction of this .method of instruction. The plan thus put into operation is similar to the graduate system of coaching in athletics followed at many of the large universities; what is good for instruction in athletics should also prove good for instruction in applied geology.

Jan 6, 1919

By John C. Calhoun, Frank T. Bethel

The application of a method for analyzing pressure build-up curves to determine the effective permeability in the Spraberry is presented. Sixteen upper Spraberry wells of the Driver area arc analyzed and show variations in the in-place effective permeability of 2 to 183 md. Since these value- are much larger than the .5 md. or less reported for the matrix rock. a large part of the vertical fractures noted in Spraberry cores- must be considered native to the formation. The effectiveness of the well fracture treatment in connecting the well bore to the native fracture system is analyzed by comparison of the effective permeability as determined from the PI test to that obtained from a pressure build-up curve. These results show that the fracture treatment is sufficiently effective in connecting tile well bore to the native fractrure system to yield a flow capacity within about 50 per cent of that dictated by the native fracture system About two-thirds of the wells show some degree of local blockage. INTRODUCTION Fractured reservoirs have been known in the past.' However, during the past two years the Spraberry formation has directed the attention of the petroleum industry to a study of the performance of a fractured reservoir. The large variation in the number of fractures noted in Spraberry cores rile large variation in the producing ability of offset well.. the dramatic effect of well treatment on well ,productivity. the unknown quantity of oil stored in the fractures and matrix rock. and the unknown oil to be recovered were part of the initial Spraberry puzzle. In this type reservoir where the well treatment is an important factor in determining the productivity. it i- particularly desirable to determine the in-place flow capacity of the drainage area at distance* far removed from the well bore. This value. when compared to the flow capacity obtained from a PI measurement, will show the effectiveness of the well treatment (completion. fracture treatment, acidization. etc. in establishing a flow capacity in the vicinity of the well bore equal to that in the more remote region. The object of this paper i.; to show the application of a method of pressure build-up analysis for this purpose in studying the Upper Spraberry formation in the Driver area. STATEMENT OF THEORY The theoretical basis for the application of a pressure buildup curve to show the effective permeability of the rock at distances far removed from the well bore has been presented in detail in earlier publications.', in the previous development it was shown that pressure build-up behavior of all wells could be reduced to the same dimensionless build-up curve of Fig. 1. This mean.; that the bottom hole pressure of a well after hut-in will rise in such a manner that a plot of pressure against the logaritllm of time yields a straight line. The slope of this linp can be rlzed to calculate the effective permeability as expressed by the following equation: where: effective oil permeability md oil production rate prior to shnt in. STB/I) In practice the flow which occurs into the well bore after shut in and the variation in flow capacity in the immediate vicinity of the well bore usually cause the early part of the build-up curve to be unsatisfactory in the determination of permeability. In general the effect of these factors on the straight line section will become negligible after a time when the of the following equation is equal to 0.1. and the preferred section Of the curve for use in defining the slope lie-

Jan 1, 1953

By B. N. Das, P. A. Beck

THE o phases have a complex tetragonal structure with Lo/ao = 0.52 and 30 atoms per unit cell.1 A large number of such phases are now known to occur in various binary systems of the transition elements and they exhibit the following typical features: 2,3 The composition of binary o phases is variable, ranging from approximately A4B to ABI. With only a few exceptions, in the o phases the A-ele-ment comes from the V- or Cr- group of the periodic table, while the B-elements are from the Mn-, Fe-, Co-, or Ni- group. In the first long period the corresponding o phases of the V- and Cr-series have approximately the same compositions. However, as the B-element changes from Mn to Fe to Co to Ni, the mean composition shifts monotonously toward higher A-contents.2-4 For example, if the mean compositions of the various o phases with vanadium are compared with each other, the composition shift mentioned above becomes plainly visible: V 30Mn0 80 Vo.45Feo..,, Vo .,Coo. 45 and Vo.5Nio.3. Similiar composition shifts, although not the same composition values, were observed in u phases formed by second and by third long-period transition elements.3'4 This behavior, very characteristic of o phases, is in rather sharp contrast to the usually quite well-behaved stoichi-ometry of the Laves phases. In the latter, the AB2 stoichiometry predominates, with A the large atom and B the small atom.= The p phase occurs in the four binary systems of Mo or W with Fe or Co. On the basis of their crystal structure determination, Arnfelt and westgren6 ascribed to the p phase in the Co-W system the ideal composition W,Co7. Since all four binary pphases have nearly the same composition, it would seem quite plausible that some definite stoichiometry such as A6B7, might be characteristic of this phase, as AB2 is of the Laves phases. On the other hand, it has been noted,7 that the phases occur at average electron concentrations near to those at which the various cr phases are found. Also, it has been pointed out by Shoemaker and associates8 that structurally the a phases and the p phases are somewhat related to each other; both of these structures may be described in terms of suitable stackings of quasi-hexagonal layers'of atoms. By studying a suitably chosen ter- nary phase diagram, one might expect to be able to find out which one of the two conditions, the analogy with the o phase or the constant ratio between the number of large atoms and the number of small atoms in effect governs the behavior of the p phase. Several isothermal sections of ternary systems containing o phases have been investigated. In all cases where two binary o phases occur, these were found to be connected b a more or less straight ternary o phase field.7' '10 Such elongated o phase fields were also found in ternary systems in which only one of the limiting binaries is known to contain o phase. In this manner a latent o forming tendency could be detected and the virtual composition of a "binary o phase", which does not actually occur as such was approximately determined by extrapolation. The behavior of the phases, including their composition shift, is analogous to that of the classical electron compounds, as described by Hume-Rothery.11 In order to decide whether the p phase is essentially a "size compound" like the Laves phases, where a fixed stoichiometric ratio is quite generally maintained between the "large atoms" and the "small atoms", or whether the p phase is typically an "electron compound" in the same sense as ois, it was decided to investigate an isothermal section of the Mo-Mn-Co system. The Mo-Co system12 and the Mo-Mn system13 each are known to have a binary o phase. It could be therefore expected that a ternary o phase field will connect these two binary cr-phase fields. The p phase is known to occur in the Mo-Co system. If the p phase should turn out to form an elongated phase field extending deep into the ternary system, the following considerations mighto apply. The atomic radius of manganese (1.314for C.N.12) is between the va,lues for Mo (1.40Afor C.N.12) and for Co (1.26Afor C.N.12). If it is assumed that p is a "size compound", and that Mn is substituting for the smaller Co atoms in the p-structure in the ternary system, the y-phase field might be expected to extend parallel to the Mn-Co binary line. If Mn is substituting for the large Mo atoms in the p-structure, the p-phase field may be expected to extend parallel to the Mn-Mo binary line. On the other hand, if the p-phase turns out to be an "electron compound" like o, the ternary p-phase field should extend parallel to the ternary o -phase field connecting (Mo,Mn)owith (Mo, Co) a

Jan 1, 1961

The pellet plant, built by Dravo Corp, in Groveland, Mich., for the Hanna Mining Co., is now in full operation. Although using jasper, a type of iron ore with low iron content (approximately 28% Fe), the plant has a rated capacity of 1,250,000 tans of pellets per year. In its four years of existence, the nearby concentrating plant has seen its capacity increase from 700,000 tons to 1,500,000 tons a year as part of a major expansion program at Groveland. Utilizing the Dravo-Lurgi continuous grate process, the pellet plant produces %a-in. pellets of more than 60% iron content. The fully-hooded pelletizing grate, largest in the U.S., is 9 ft. 10% in. wide and 223 ft. 1% in. tong over 34 windboxes, with an effective hearth area of 2195 sq. ft. Drying, firing, and cooling functions are all carried out on this single piece of equipment.

Jan 4, 1964

By M. Cross

INTRODUCTION The results of the Japanese dissective investigations have [l-4] transformed our understanding of how the blast furnace operates. These studies revealed an internal structure of the furnace burden with five main zones, as illustrated in Figure 1. In the granular zone the charged material retains its structure whereas in the cohesive zone the iron ore particles are at advanced stages of reduction and form a semi-molten mass with a relatively high flow resistance. In the active coke zone molten iron and slag flow through a matrix of loosely packed coke. The raceway is a relatively small void space generated by displacement of coke due to the hot blast momentum, whilst the hearth is packed with coke, slag and molten iron. [ ] It is now well appreciated that furnace control is largely achieved and maintained by using the burden charge distribution to determine the gas glow distribution within the furnace and, hence, the shape and extent of the cohesive zone. In fact, Wakayama et a1 [5] of Nippon Steel Corporation state that optimum furnace operation is synonomous with the formation of a desirable cohesive zone shape, which in turn is almost solely determined by the burden charge distribution and its mechanical properties [6]. Much of the development work on operating furnaces since the dissective investigations has been oriented towards the identification of external furnace measures which reliably predict the shape of the cohesive zone. Currently the most popular measures are top gas temperature, velocity and CO/CO, ratio profiles [5]. More recently pressure distributions as evaluated from a series of wall measurements down the height of the furnace are also being utilised [7] to identify the position and shape of the cohesive zone. A great deal of emphasis has been placed upon achieving a consistent quality in the burden charge materials, establishing a suitable set of operating conditions and only making changes when forced to, ie., the operation for some reason moves outside a desired operating range or the production requirements change. Operational control schemes based upon this philosophy (eg., Kawasaki's GO-STOP system [8]) have been remarkably successful at achieving both high production rates and relatively low fuel costs. Mathematical models have long been used as tools to assist in the analysis of the blast furnace process. Although, the models have been useful in post-operative analysis and for identifying trends, etc., they have not proved reliable for detailed design criteria or as the basis for effective control schemes. Such mathematical models have moved from simple statistical correlation, through overall and stagewise heat-and-mass balance calcu-

Jan 1, 1984

By K. C. Ko, D. A. Pifer

The theory of probability with respect to the failure of structures is discussed. It is shown that the probability of safety, probability of failure, and factor of safety are directly related to each other and that as standard deviation approaches zero, the probability curves approach a unit step function which can be interpreted as the conventional factor of safety. The factor of safety is numerically the ratio of the load to the strength of the material at a particular point or plane in an engineering structure. Mathematically, it can be illustrated as a unit step function undefined at the point where the factor of safety is one (Fig. 1). The uncertainty of variation of soil and rock strengths require factors of safety much higher than those used in other engineering structures. The factors of safety used are generally determined from past experiences with similar structures. However, the factors thus determined do not have any theoretical meaning or do not indicate any relationship to actual safety.' It seems, therefore, logical to develop a system with a sound theoretical basis to obtain a more suitable factor of safety for structures. An application of elementary theory of probability indicates that it is possible to relate this number to theoretical and practical engineering facts.

Jan 1, 1971

Elected Died 1903 * ADAMS, CHARLES C. 1905 1884 *ADDY, MATTHEW 1896 1894 *ALLFN R B 1896 1874 *AMIOT, H 1892 1886 *AMSLER, CARL 1894 1895 *ÅNGSTROM, CARL 1901 1895 *ARMSTRONG, JOHN F 1898 1882 *ARNOLDS, HUGO 1886 1875 *ASHBURNER, CHARLES A 1889 1872 *ASIIBURNER, WILLIAM 1887 1883 *ATKINS, C M , JR 1885 1897 *AYERS, WILLIAM 1898 1885 *BABCOCK, GEO H 1893 1884 *BAILEY, EDWARD 1889 1880 *BAILEY, JACKSON 1887 1900 *BALLOU, FRANKLIN 1903 1886 *BARNES, F W 1892

Jan 1, 1910

Executive A R LEDOUX, Chairman ARTHUR S DWIGHT CHARLES F RAND E P MATHEWSON J V W REYNDERS Membership E DEGOLYER, Chairman W Y WESTERVELT, Vice-chairman WILLIAM H BASSETT H G MOULTON C MINOT WELD Finance WALTER H ALDRIDGE, Chairman GEORGE D BARRON GALEN H CLEVENGER Library GEORGE C STONE,' Chairman JOHN H JANEWAY ALEXANDER C HUMPHREYS, ROBERT LINTON FREDERICK F SHARPLESS

Jan 1, 1923