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By Robert F. Shurtz, William J. Verner

Three basic questions must be answered by an engineer performing an economic analysis of a mineral property: (1) How much can the company afford to pay for the property; (2) At what rate should the property be mined; (3) What will be the return on the investment. These questions often defy reasonable analysis, because at the point in time at which they must be answered little may be known about the grade of ore and the reserve tonnage. The purpose of this report is twofold. First, to derive a method of determining purchase price, rate of production and return on investment which is valid under varying conditions of ore grade and tonnage reserve; and, second, to apply this method to the Margay deposit in an attempt to evaluate it as a business enterprise. This is an actual economic analysis of an existing nickel-copper deposit fictitiously named the Margay. It was carried out for a mining corporation and proved to be the determining factor in the subsequent purchase and development of the property. All data referring to costs, quality and quantity of ore, etc., are accurate and truly represented. Prices used are obsolete but the method is not dependent on those variables. Basic assumptions for the analysis are given in Table I, page 71.

Jan 11, 1966

By E. C. Rien

When the electrical system for a surface or open pit mine is designed, four major considerations should be satisfied in the following order: safety, reliability, flexibility, and cost. Careful planning initially will make expansion for future growth economical as well as possible without extended shutdown of operations. Electrical requirements in surface and open pit mining can be divided into three categories: main substation, plant power, and pit distribution. These systems are integral to each other, but will be dealt with separately here. 11.2-1. Main Substation. A main substation for a mining operation may vary from a 500 kva transformer supplying 480-v power to motor-driven pumps and conveyors, to a 50,000 kva substation serving a large beneficiation plant or a large strip mining operation. Regardless of size, it should be designed with the realization that a failure of the main substation will totally shut down the operation (Fig. 11.2-1.). Location of a main substation usually is a compromise between expense of running the incoming high-voltage transmission lines and the voltage drop of long secondary runs. Based on a geological survey for immediate and future areas of excavation, the main substation should be located as near to the center of load as possible. The site should be out of the blasting area, readily accessible to authorized personnel, and situated where prevailing winds will keep it free from dust or snow. DISCONNECTS AND OVERLOAD PROTECTION. The main substation should have a primary disconnecting device-either a pole top gang-operated switch and fuses of adequate interrupting capacity or, preferably, an oil circuit breaker with properly coordinated relay protection.

Jan 1, 1968

By Kingman, Robert I.

SUFFICIENT testing has been .performed with the Dutch State Mines Cyclone for thickening and desliming flotation feed at the concentrator of the National Lead Co., Tahawus, N. Y., to prove its application for this work. It is the purpose of this article to present some of the test results, operational details and advantages of cyclone thickening and classification. The metallurgy of the mill operation was described by Frank R. Milliken, assistant manager of the titanium division.

Jan 1, 1950

By William Hurst, A. F. van Everdingen

For several years the authors have felt the need for a source from which reservoir engineers could obtain fundamental theory and data on the flow of fluids through permeable media in the unsteady state. The data on the unsteady state flow are composed of solutions of the equation Two sets of solutions of this equation are developed, namely. for "the constant terminal pressure case" and "the constant terminal rate case." In the constant terminal pressure case the pressure at the terminal boundary is lowered by unity at zero time, kept constant thereafter, and the cumulative amount of fluid flowing across the boundary is computed, as a function of the time. In the constant terminal rate case a unit rate of production is made to flow across the terminal boundary (from time zero onward) and the ensuing pressure drop is computed as a function of the time. Considerable effort has been made to compile complete tables from which curves can be constructed for the constant terminal pressure and constant terminal rate cases, both for finite and infinite reservoirs. These curves can be employed to reproduce the effect of any pressure or rate history encountered in practice. Most of the information is obtained by the help of the Laplace transformations, which proved to be extremely helpful for analyzing the problems encountered in fluid flow. The application of this method simplifies the more tedious mathematical analyses employed in the past. With the help of Laplace transformations some original developments were obtained (and presented) which could not have been easily foreseen by the earlier methods. INTRODUCTION This paper represents a compilation of the work done over the past few years on the flow of fluid in porous media. It concerns itself primarily with the transient conditions prevailing in oil reservoirs during the time they are produced. The study is limited to conditions where the flow of fluid obeys the diffusivity equation. Multiple-phase fluid flow has not been considered. A previous publication by Hurst' shows that when the pressure history of a reservoir is known, this information can be used to calculate the water influx, an essential term in the material balance equation. An example is offered in the literature by Old² in the study of the Jones Sand, Schuler Field, Arkansas. The present paper contains extensive tabulated data (from which work curves can be constructed), which data are derived by a more rigorous treatment of the subject matter than available in an earlier publication.' The application of this information will enable those concerned with the analysis of the behavior of a reservoir to obtain quantitatively correct expressions for the amount of water that has flowed into the reservoirs, thereby satisfying all the terms that appear in the material balance equation. This work is likewise applicable to the flow of fluid to a well whenever the flow conditions are such that the diffusivity equation is obeyed. DIFFUSITY EQUATION The most commonly encountered flow system is radial flow toward the well bore or field. The volume of fluid which flows per unit of time through each unit area of sand is expressed by Darcy's equation as where K is the permeability, the viscosity and aP/ar the pressure gradient at the radial distance r. A material balance on a concentric element AB, expresses the net fluid traversing the surfaces A and B, which must equal the fluid lost from within the element. Thus, if the density of the fluid is expressed by p, then the weight of fluid per unit time and per unit sand thickness, flowing past Surface A, the surface nearest the well bore, is given as The weight of fluid flowing past Surface B, an infinitesimal distance 6r, removed from Surface A, is expressed as

Jan 1, 1949

By A. F. van Everdingen, William Hurst

For several years the authors have felt the need for a source from which reservoir engineers could obtain fundamental theory and data on the flow of fluids through permeable media in the unsteady state. The data on the unsteady state flow are composed of solutions of the equation Two sets of solutions of this equation are developed, namely. for "the constant terminal pressure case" and "the constant terminal rate case." In the constant terminal pressure case the pressure at the terminal boundary is lowered by unity at zero time, kept constant thereafter, and the cumulative amount of fluid flowing across the boundary is computed, as a function of the time. In the constant terminal rate case a unit rate of production is made to flow across the terminal boundary (from time zero onward) and the ensuing pressure drop is computed as a function of the time. Considerable effort has been made to compile complete tables from which curves can be constructed for the constant terminal pressure and constant terminal rate cases, both for finite and infinite reservoirs. These curves can be employed to reproduce the effect of any pressure or rate history encountered in practice. Most of the information is obtained by the help of the Laplace transformations, which proved to be extremely helpful for analyzing the problems encountered in fluid flow. The application of this method simplifies the more tedious mathematical analyses employed in the past. With the help of Laplace transformations some original developments were obtained (and presented) which could not have been easily foreseen by the earlier methods. INTRODUCTION This paper represents a compilation of the work done over the past few years on the flow of fluid in porous media. It concerns itself primarily with the transient conditions prevailing in oil reservoirs during the time they are produced. The study is limited to conditions where the flow of fluid obeys the diffusivity equation. Multiple-phase fluid flow has not been considered. A previous publication by Hurst' shows that when the pressure history of a reservoir is known, this information can be used to calculate the water influx, an essential term in the material balance equation. An example is offered in the literature by Old² in the study of the Jones Sand, Schuler Field, Arkansas. The present paper contains extensive tabulated data (from which work curves can be constructed), which data are derived by a more rigorous treatment of the subject matter than available in an earlier publication.' The application of this information will enable those concerned with the analysis of the behavior of a reservoir to obtain quantitatively correct expressions for the amount of water that has flowed into the reservoirs, thereby satisfying all the terms that appear in the material balance equation. This work is likewise applicable to the flow of fluid to a well whenever the flow conditions are such that the diffusivity equation is obeyed. DIFFUSITY EQUATION The most commonly encountered flow system is radial flow toward the well bore or field. The volume of fluid which flows per unit of time through each unit area of sand is expressed by Darcy's equation as where K is the permeability, the viscosity and aP/ar the pressure gradient at the radial distance r. A material balance on a concentric element AB, expresses the net fluid traversing the surfaces A and B, which must equal the fluid lost from within the element. Thus, if the density of the fluid is expressed by p, then the weight of fluid per unit time and per unit sand thickness, flowing past Surface A, the surface nearest the well bore, is given as The weight of fluid flowing past Surface B, an infinitesimal distance 6r, removed from Surface A, is expressed as

Jan 1, 1949

By T. Cantwell, N. C. Rasmussen, H. E. Hawkes

Beryl is a mineral that may be difficult to distinguish from quartz by casual field inspection. The easily recognized green color and hexagonal crystal form of coarse-grained beryl are by no means universal, even in beryl from pegmatitic deposits. If it occurred as a fine-grained accessory mineral in an igneous rock, it would almost certainly escape detection unless samples were submitted for petrographic or chemical analysis. There may be substantial deposits of some beryllium mineral, other than beryl, that has been overlooked because that mineral also closely resembles the common rock-forming minerals. A reliable and simple method of identifying beryllium minerals and determining the beryllium content of a rock would be helpful in exploration. This article describes preliminary experiments in applying nuclear reaction to the qualitative identification of beryl and to the semiquantitative determination of the beryllium content of rock samples. Gaudin,1,2 the first to apply a nuclear reaction in detecting beryllium minerals, developed a method that irradiates the sample with gamma rays, which react with beryllium nuclei to produce neutrons. The neutrons are then measured with standard equipment. The cross section for this reaction is about 1 millibarn. The cross section is a measure of the probability that a reaction will take place, for example, between a beryllium nucleus and an incident gamma ray or alpha particles.3-5 At 1-millibarn cross section for the reaction, satisfactory performance required a source strength of the order of 1 curie (3.7 x 10"' disintegrations per sec, where each disintegration releases one or more gamma rays). The reactions will not take place if the gamma radiation is below a minimum energy, in this case 1.63 mev. The size of the source and the energy of the radiation made heavy shielding necessary for these experiments, both to reduce the background count of the neutron counter and to safeguard personnel. The original discovery of the neutron by Chad-wick in 1932 resulted from experiments with another nuclear reaction, induced by bombarding beryllium with alpha particles in which the products are carbon-12 and neutrons. The equation for this reaction is as follows:' " ,Be" + ,He'? 6C12 + 8,n' [1] re-particle neutron In the above nuclear equation (Eq. 1), the sub- script number indicates the number of protons in the nucleus (the atomic number) and the superscript the total number of neutrons and protons (approximately the atomic mass). For the alpha-neutron reaction the cross section is about 250 milli-barns, or 250 times that of the gamma-neutron reaction used by Gaudin. The positively charged alpha particle is repelled by the positive charge of the beryllium nucleus; it must, therefore, have a certain minimum energy in order to approach close enough to the beryllium nucleus to react. For reaction with the beryllium nucleus, the lower limit of the alpha-particle energy is 3.7 mev. The alpha-neutron reaction, with polonium-210 as an alpha source, was selected for the present experiments. Alpha particles are emitted by polonium-210 at 5.30 mev, which is adequate for the reaction with beryllium. Furthermore, this isotope of polonium emits alpha particles with negligible associated gamma radiation, thus eliminating the necessity of shielding. The half-life of polonium-210 is 138 days. Inasmuch as alpha particles carry a possible charge and are large compared with most nuclear particles, their energy is rapidly dissipated in passing through matter. Their range in standard air is 3.66 cm,3 and they penetrate only a few tens of microns into a mineral sample. The short range in air can be minimized by preparation of a flat sample surface that can be brought very close to the alpha source during analysis. On the other hand, short range of alpha particles in air lessens the radiological health hazard and makes it possible to use this method without shielding. It must be emphasized, however, that the alpha emitters are potentially very dangerous if they enter the human body. Polonium must be handled with extreme caution. The literature has reported experiments on the yield of neutrons from reaction of alpha particles with beryllium nuclei. Feld" reports that in intimate mixtures of polonium and beryllium, 3 x 106 eutrons per sec are produced per curie of polonium. Elsewhere in the same reference it is stated that a sandwich-type source yields about one third as many neutrons as an intimate mixture. A table of neutron yields for full energy polonium alpha-particles on thick targets as reported by Anderson7 is the basis of Table I. From Table I it can be deduced that the elements most likely to interfere, i.e., those that also produce neutrons when bombarded by alpha particles, are boron and fluorine. These data also show that it will probably not be possible to determine very small quantities of beryllium in rocks because of the masking effects of the major elements, sodium, magnesium, and aluminum. The neutrons emitted in the alpha reaction are detected by another nuclear reaction. Either of the

Jan 1, 1960

By Richard L. Gordon, Charles J. Johnson

Electric power demand doubles about every ten years, and because of the associated burgeoning fuel requirements, power stations absorb over half of the coal output in the United States. Throughout the 1960's, demand for coal utilized to generate electricity grew at an average annual rate of 6.5% but coal producers held back greater expansion because they expected nuclear plants to proliferate faster than they actually did. Even so, the growth rate is expected to continue at the 1960's rate until at least 1976. The continuation of the 6.5% growth rate beyond 1976, however, will require additional orders for coal-fired plants during the early 1970's. In fact, plants consuming a total of 130 million tons of coal must be ordered in the next few years. If the requisite plants materialize, total 1980 coal output for electrical power generation will be approximately 600 million tons.

Jan 1, 1971

By Raymond E. Funderburk

Today, there are four alternatives available for disposal of highly toxic, non-radioactive hazardous waste: deep well injection, chemical processing, landfill and incineration. However, based upon research conducted by the author, a fifth alternative now exists. Disposal in salt. Salt, because of its chemical characteristics, is an ideal medium for retention of inorganic hazardous waste. Except for a few elemental compounds such as lithium and potassium, there is no reaction with sodium chloride. In the family of inorganic wastes, there are basically seven suites of waste that may be mixed together without any chemical reaction. The process developed by the author would be to take a suite of waste, either dewater or add moisture, add a solidification agent to the mix and slurry pipeline the mass into a cavern. Residence time before hardening can be adjusted, but the nominal time until full solidification is 48 hours. Once solidified, the mass will reach compressive strengths exceeding 3000 psi. The slurry can be introduced into an evacuated cavern pumped free of brine, or it can be placed beneath the brine and the waste will force the brine to the surface. The latter technique requires a high degree of engineering control to prevent contamination of the brine leaving the cavern-thus creating more hazardous waste and additional problems. The Environmental Protection Agency endorses the concept both at the research level and within EPA Headquarters. The technology will soon be utilized in a salt formation in Texas.

Jan 1, 1985

By Frank Ruskey, Richard G. Burdick

Many problems associated with potential hazards in a proposed mining area may not be adequately appraised because of the complexity of trying to evaluate them in terms of production requirements. Frequently, encountered hazards have to be dealt with by day-to-day operational schemes that require the miner to either force a way through them or avoid them by blocking off the area in which the hazards are known to exist. These considerations, after the mine is in full production, can be costly to the mine operator and can increase the danger to the miners. A hazard-evasion computer program for mine planning that will appraise proposed mine layouts on the basis of existing or potential hazards has therefore been developed. The program is intended for use during the planning phase of a mine, where it should assist the mining engineer in making decisions in mine design, With the output from this program, the mining engineer should be able either to corroborate his judgments made on the basis of mining experience or to find unanticipated solutions to design problems. The program tests hundreds of possible solutions to a mining layout, and by sorting out the 10 best (based on a criteria of minimum-abandoned-coal) limits the number of choices that need to be considered and appraised for applicability to a given mine scheme.

Jan 1, 1976

By R. M. Goldhoff, H. J. Beattie

The high-temperature properties of a 1 Cr-Mo-V forging steel are described. A series of controlled heat treatments was designed to delineate the effects of austenitizing and tempering treatments, temile strength, and grain size on such properties. Studies indicate that the mechanical properties and their varlations under creep can be described by the initial metallurgical structures and their changes droPirzg exposure, particulavly the carbide reactions. Such structures are described and correlated with the mechanical properties. FOR many years the large steam turbine industry has relied on the 1 Cr-Mo-V type forging steel for critical applications. Because of its adequate heat resistance and relative economy, it is currently in use in the temperature range up to about 1050" to 1075°F. Attempts to understand the large property variations attainable in this steel involve the structural modifications due to the wide latitude in its heat treatment. The heat treatment essentially involves a two-step process which includes solution-ing of carbides in the austenite range followed by a suitable tempering treatment below the critical to adjust the level of properties. The latter step is referred to as "secondary hardening" and is basically an ordinary aging reaction involving carbides. In the commercial heat treatment of large components of such steel, homogenizing and stress-relief anneals may be included and have some importance in determining subsequent properties. Several studies of the engineering properties of this steel as a function of transformation micro-structure have been reported.1 3 However, in this steel the carbide reactions, which are a function of composition and heat treatment, appear to be the property-controlling factor rather than the micro-structure defined as a transformation product. Thus, the tempering resistance of this type of alloy steel is mainly a function of the size and distribution of alloy carbides.4 However, it is also necessary to consider the stability of the microstructure and the effect of dynamic carbide reactions on subsequent properties. It is the purpose of this paper to show the interdependence of properties and corresponding structures, particularly carbide reactions, developed for a limited set of controlled heat-treatment conditions applied to 1 Cr-Mo-V steel. MATERIALS AND PROCEDURE The material for this work came from a large production forging whose chemical composition is shown in Table I. The property data accumulated on this steel as a function of heat treatment were room-temperature tensile and smooth- and notch-bar creep rupture at 1050°F (notch geometry: shank diameter = 0.357 in., depth = 50 pct, radius = 0.005 in.). To achieve controlled structural variations the temperature and time of both austenitizing and tempering were varied in a manner to produce a series of eight steels each at one of two grain sizes and one of two hardness levels in proper combination for valid comparisons. This will be clear upon examination of Table I. Structural studies involved the use of optical and electron microscopy as well as X-ray and selected-area electron diffraction. To reveal the nature of carbide precipitations, electrolytic extraction techniques were used with subsequent analysis of the residue by X-ray diffraction. Weight losses of the steel specimens during electrolysis were measured and successive chemical fractionations of the residues were applied and checked by X-ray examination. The details of fine structural distributions, morphologies, and crystallography of the precipitates as well as dislocation distributions were investigated by examining in the electron microscope three common types of preparation. a) Relief Replicas. Mechanically polished sections were etched in 2 pct nital, replicated with a nitrocellulose film, which was shadowed by chromium vapor deposited at a glancing angle of 20 deg. b) Extraction Replicas. A thin film of carbon was vapor-deposited on the polished and etched surface. The carbon films were then etched off and gathered on electron-microscope supporting grids. The carbides left imbedded in the carbon replica in their original distribution were then examined crystallo-graphically by selected-area electron diffraction. c) Thin Films. Specimens were mechanically ground and polished down to a thickness of 0.001 to 0.003 in. Final thinning was done electrolytically in a "chrome-acetic" electrolyte. When holes began to appear in the foil, the voltage was interrupted and applied in several 1-sec bursts. Sections of the foil between holes were thin enough to pass a 100-kv electron beam that carries an image.

Jan 1, 1965

By A. M. Mirani

The Mine Planning System consists of two parts: 1. A Sales Forecast (Sales Planning) 2. A Production Planning. The mathematical methods of the sales forecast are the exponential smoothing and a method with Markov-Chains. By these methods the quantity of material (ore, coal) will be calculated for the time planned. These quantities constitute the points in the production-planning. In the production-planning , special kinds of networks are used for calculating the resources-equipment required, labor and costs. A special routine optimizes the sequence of the mining areas within the mine on the basis of the lowest costs. The resources can be limited. The activities will be shifted when the demand exceeds this limit. The basis of the production-planning are computer files, in which the geological data and economical evaluations are stored.

Jan 1, 1969

By Theron Wasson

The discovery of eight new oil fields, two of which may be of major importance, was the outstanding record in Michigan this year. These new fields have helped to support the declining production from old areas and place the total of 18,559,000 bbl. in line with the past six or seven years. Thus, it appears that Michigan is doing its part in maintaining the production of the country in the third year of the war. The new fields are in the central basin area where oil was first discovered in Michigan, thus tending to focus attention on the deeper part of the lower peninsula of the state. Through 1944 the state of Michigan has produced a total of 222,-641,580 bbl. of crude oil from 100 pools, many of which arc relatively small. Among the previous1y discovered fields Reed City is still the outstanding producer, with Fork, Headquarters, and Adams following in the order named. The Reed City pool produced a little over 5,000,00 bbl., which was more than one third of the state's total for the year. Almost two thirds of the year's total oil production came from fields discovered in the past five years. Maps A map of the oil and gas fields of Michigan in 1943, published in the A.I.M.E. report for 1944,* shows the main producing areas and should be referred to if information in regard to their location is desired. The producing zones are shown in the columnar section in the same publi- cation." The data in Tables I and 2 have been carefully ' checked and every effort has been made to show as complcte information as possible. New Discoveries and New Developments Eight new producing areas were discovered during 1944 which, in order of importance, are: Deep River Field.—The discovery well in the Deep River field was drilled by Don Rayburn and others, and should be listed as a chance discovery, as, from a geological standpoint, it was not considered favorable until oil was found at a depth of 2838 ft. in a dolomitic layer in the top of the Dundee limestone. The first well was completed in January 1944, with an initial production of 2500 bbl. By the end of the year 15 wells had been completed, proying an area 2 1/2 miles long and 1/2 mile wide. Coldttater Field.-The Coldwater field was discovered in August 1944, by the Sohio Oil Co. Production is from secondary dolomite at the top of the Dundee at a depth of 3703 ft. To the end of 1944 nine wells had been drilled on 40-acre spacing. Essexville Field.—Essexville field was discovered by United Drillers and Producers, Inc. Eight wells had been completed to the Dundee lime by the end of 1944, and prospects were good for further development during 1945. Hilliards Field.—Hilliards field was discovered by Cook and Fortney. Production is from the Traverse lime at an average depth of 1588 feet,

Jan 1, 1945

The Institute maintains for the use of members (and especially for the use of out-of-town members) a reading and writing room, where all usual office facilities are available, including telephone, telegraph, receipt, forwarding and care of mail and express packages, etc. A file of current magazines is also maintained in this room, and the Institute's staff will lend its best efforts to serving the members in connection therewith. The Institute also maintains for the use of its members free dressing rooms, library research department, etc. Attention is called to these facilities at the present time in the belief. that they may be especially useful to out-of-town members in connection with the Meeting.

Jan 5, 1918

By L. C. Aycock, J. Hunter, P. M. Lyons

In view of the unfavorable discovery trend that has set in during the past few years, it seems permissible to infer that the large, more easily found crude reserves in Louisiana are now known. Without doubt, many new producing areas will be located, but in the light of development during the past few years the majority of new areas probably will be found at greater depths and from relatively poorer sands. f Although sufficient reserves exist in Louisiana to last at the present rate of production for a considerable period, additional reserves must be found in more intensive development of the presently known structures. In order to ensure the greatest ultimate recovery from such structures, the most advanced technical methods must be employed in their exploitation. Wherever possible, cycling and repressuring plants should be installed. 'here are presently in Louisiana, especially in south Louisiana, a great many fields that contain gas-condensate reservoirs. These reservoirs cannot be produced for their liquid hydrocarbon content under present conditions without wasting an enormous quantity of gas and creating underground waste. Although some of these reservoirs are being produced, such production must be considered in the nature of a salvage operation rather than as a sound economic proposition. Such reservoirs, however, can become profitable ven- tures through the use of cycling and repressuring plants. Cycling operations now operating in Louisiana have increased the ultimate recovery from gas-condensate reservoirs anywhere from 10 to 30 per cent. Cycling operations will also provide a considerable reserve of gas, without which Louisiana cannot hope to develop any program of industrialization. During the past year, Louisiana attained the rank of third among the oil-producing states of this country. With a proper program of exploitation and development, and with emphasis on conservation, Louisiana can maintain this position for a great many years. Production On Dec. 31, 1943, oil and/or gas were being. produced in 52 parishes, or 81 per cent of all the parishes in the state. Thirty-three of the parishes produced oil and gas, 14 produced oil, and 5 produced solely gas. Tensas Parish in north Louisiana and Assumption Parish in south Louisiana formerly contained no producing fields but during 1943 joined the ranks of the producing parishes. Twenty-three new fields, including one rediscovery, were found during 1943-—a rate of discovery almost comparable to that of the preceding year. Eleven of these new discoveries were either gas or gas-condensate fields. Thus, the trend of development in finding new reserves was also comparable to that of 1942. Many reasons of considerable merit have been advanced to account for the discouraging lack of crude-oil reserves found during the past year. None are, however, completely satisfactory.

Jan 1, 1944

By J. Hunter, P. M. Lyons, L. C. Aycock

In view of the unfavorable discovery trend that has set in during the past few years, it seems permissible to infer that the large, more easily found crude reserves in Louisiana are now known. Without doubt, many new producing areas will be located, but in the light of development during the past few years the majority of new areas probably will be found at greater depths and from relatively poorer sands. f Although sufficient reserves exist in Louisiana to last at the present rate of production for a considerable period, additional reserves must be found in more intensive development of the presently known structures. In order to ensure the greatest ultimate recovery from such structures, the most advanced technical methods must be employed in their exploitation. Wherever possible, cycling and repressuring plants should be installed. 'here are presently in Louisiana, especially in south Louisiana, a great many fields that contain gas-condensate reservoirs. These reservoirs cannot be produced for their liquid hydrocarbon content under present conditions without wasting an enormous quantity of gas and creating underground waste. Although some of these reservoirs are being produced, such production must be considered in the nature of a salvage operation rather than as a sound economic proposition. Such reservoirs, however, can become profitable ven- tures through the use of cycling and repressuring plants. Cycling operations now operating in Louisiana have increased the ultimate recovery from gas-condensate reservoirs anywhere from 10 to 30 per cent. Cycling operations will also provide a considerable reserve of gas, without which Louisiana cannot hope to develop any program of industrialization. During the past year, Louisiana attained the rank of third among the oil-producing states of this country. With a proper program of exploitation and development, and with emphasis on conservation, Louisiana can maintain this position for a great many years. Production On Dec. 31, 1943, oil and/or gas were being. produced in 52 parishes, or 81 per cent of all the parishes in the state. Thirty-three of the parishes produced oil and gas, 14 produced oil, and 5 produced solely gas. Tensas Parish in north Louisiana and Assumption Parish in south Louisiana formerly contained no producing fields but during 1943 joined the ranks of the producing parishes. Twenty-three new fields, including one rediscovery, were found during 1943-—a rate of discovery almost comparable to that of the preceding year. Eleven of these new discoveries were either gas or gas-condensate fields. Thus, the trend of development in finding new reserves was also comparable to that of 1942. Many reasons of considerable merit have been advanced to account for the discouraging lack of crude-oil reserves found during the past year. None are, however, completely satisfactory.

Jan 1, 1944

By Breaux B. Castleman

The ultimate test of a business strategy is whether it achieves the owner's objectives. Most shareholders are interested in growth and profits, and share values on stock exchanges are very often closely correlated with profit growth and profitability measured as return on equity (ROE). Strategic management, then, involves managing investments or resource allocations to optimize long-term growth and real return on equity, within reasonable limits of risk. Figure 1 shows a plot of the five year, weighted average ROE of a number of communications companies against their stock market valuations in 1983, measured as a ratio of market value to book value. The principal explanation of the differences in the relative valuations of the individual stocks is historical ROE, weighted toward the most recent years. Further analysis demonstrates the added importance of growth in explaining the differences in stock market to book ratios. [ ] Research conducted by Booz Allen and others in recent years suggests that the relationships between ROE and market to book multiples hold true in industry after industry. Furthermore, we have found that in assessing business strategies for companies in these industries, the analyses should focus on whether proposed strategies are likely to lead to consistent long-term growth in real ROE, without excessive leverage. Our research also reveals, however, that these approaches to strategy assessment are not consistently applicable in the natural resource extractive industries. Figure 2 shows a similar comparison of market to book values against five year average ROE for a group of nine mining companies in 1983. Market value of the shares shows little correlation with ROE. [ ] Analysis of the data for other extractive industries indicates a similar pattern; that is, low correlation between share values and

Jan 1, 1985

By Howard L. Hartman

There is reason to believe that ventilation systems so far devised for use with continuous mining machines fall far short of success. This is vividly demonstrated to anyone who has observed in a continuous miner section the localized ignitions of pockets of gas and the generation of dense clouds of dust by the cutting head of the machine. The alarming frequency with which major ignitions and disasters continue to occur in modern mechanical mining and the rise in incidence of pneumoconiosis serve as reminders that our ventilation systems are far from achieving the ultimate in providing protection from either short-term explosions or long- term dust diseases, both of which take lives. Human safety is the main concern in ventilation. But in this day of high-priced labor, let us not forget human comfort, either, for this is a major factor in motivation toward high productivity. The failure or inadequacy of most mine ventilation systems in providing the kind of working conditions at the face that are conducive to productive as well as safe operation is an indictment of our environ- mental control program in mining generally.

Jan 3, 1962

By Charles E. Packard

Many coal producers have been faced recently with the problem of arranging their production facilities to accommodate recent trends in the transportation of their product. Each operator is normally faced with a different problem requiring a system to meet his specific needs. It may be that he would be required to load a seven or eight thousand ton integral train each day which would naturally call for a large storage pile, high loading rate, accomplished in a minimum of time On the other hand, it may be that he is faced with furnishing coal to make up one-half of a unit train that is to be assembled twice a week. Whether the problem is large or small, many considerations must be given to each specific problem to be certain that the proper scheme is applied. The operator actually has several choices as to what type of storage and loading facilities he may consider. The storage pile, for instance, may be open type, conical in shape, kidney-shaped, or long and wedge-shaped. It may also be enclosed by steel or concrete

Jan 8, 1964

By Raymond Brandon, Marshall Pease

A pattern for providing a large utility, The Detroit Edison Co., with an adequate fuel supply is outlined. From the standpoint of both fuel procurement and utilization, consideration has been given competition relationships, fuel properties as well as operating conditions that must be met to provide dependable service and reliable plant operation.

Jan 2, 1951

By Walter Weeks

THERE is very little useful material in the litera-ture on the construction of manometers, so each experimenter must devise his own instrument. I have experimented for a number of years and have finally built one that is satisfactory. If we are to obtain accurate friction factors in mine-ventilation problems we must use accurate instruments. The most simple and convenient instrument for the mea-surement of small pressures is the inclined manometer or U-tube. By changing the angle at which the tube is set, any desired magnification of the pressure reading may be obtained. The first question in regard to the manometer is: What liquid shall be used? Alcohol, in my opinion, is the best. It does not cling to the glass and it does not attack the rubber tubes. The next problem is the setting of the instrument at the proper angle. One method is illustrated in Fig. 1. The base plate AC is made horizontal by a level bubble. The plate AB, which carries the U-tube, is hinged at A. The angle z which AB makes with the horizontal may be made any value by pinning the end B at the calculated position on the arm CD. Such an instrument may be designed to read directly in inches of water if a liquid of constant specific gravity is used. If the specific gravity varies, a calculation is necessary to convert the reading into inches of water.

Jan 1, 1923