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Show December 15f 1969 OIL & MINING JOURNAL Page 2 Itodxy tlfta. ill AM wms BuRlines offers computer aid GOGgmstf fi?eng)Dii dlepeinidleiniGe could be denied or cut from Midcast oil at any off warns Bob Burch, time, We of the president Mo'untain Oil Rocky and Gas Association. of this the United should maintain or Because States increase domestic not oil believes. Mr. Burch, Interstate reduce production, he attending the Oil Compact Commission meeting in Salt Lake City, said Mother Nature" is responsible for the disproportionate distribution of petroleum resources in the world. The Mideast and North Africa the center of gravity rIPpfis production was reviewed by Robert T. Johansen, gas basic U.S. Bureaus of Mines at Bartlesville, Okla., during the Interstate Oil coordinator, production research, project Compact Commission meeting last weeksn Salt Lake City. Experiments (such as arc not designed to money but in information and we think Mr. Gasbuggy has paid off, Johansen stated. Gasbuggy) pay off in Gasbuggy showed that nuclear cncrgys'ncrcascd natural gas recovery five-fol- d compared but tos similar, conventionally stimulated wells in the same formation. Innovative technology y He said if an industry isnt used, it might be lost. The more you use an industry, the healthier it becomes, " he said. been the area still be is Mr. Burch, a native of the Texas Panhandle' and now a Denver resident, is an is vitally important in the face of declining reserves of natural gas, Mr. Johansen noted. In 1958, the reserves to production ratio was at 22, he noted. By 1968, the ratio had that is enough dropped to 13 proven reserves to supply the country for 13 years at present consumption rates. By the the ratio will drop to 10 which is considered the minimal level the industry can tolerate. Higher ratios arc preferred to obtain financing for new projects, he added. I dont mean that we are running out of natural gas. ,We arc now talking about only 10 per cent of the reserves. We arent running out of gas. Were running out of schemes for developing it and getting it to market, Mr. Johansen said. Only a few areas of the country arc judged favorable for nuclear stimulation, he added. One is aYi area of Montana, Wyoming, Colorado and the northeastern corner of Utah. Another includes part of Kansas, mid-1970- s, and the f Oklahoma panhandle. In these areas the gas is remote enough, deep enough and thick enough that nuclear devices can be used. Also significant in the test is that Gasbuggy was less than we radioactivity anticipated. But the economic feasibility of nuclear stimulation, he noted, wont be known until two or three more tests arc completed. And nuclear stimulation wont become significant until the late 1970s. published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. 25 Cents a copy Subscriptions $1 0 per year Advertising rates: Display Advertising Classified Advertising Phone:298-240- 3 Editor & Publisher. Assistant to Publisher Director of Advertising. $2 col. inch .$2 for 20 words or 298-370- 3 Chuck Hayward Enid J. Hayward Hal Funk and maintenance, ny large computer. PRIMARY objective in developing the new program was to facilitate the Bureaus own applied research efforts in such fields as more efficient extraction and use of mineral resources, and reduction of mineral-relateair and water Cost estimates are pollution. used to determine the economic potential of new chemical processes developed in these areas, and to facilitate choice among alternate processes. A d Bureau of Mines Information A Computer Circular 8426, Program for Calculating Capital and Operating Costs, is by Paul W. Johnson and Frank A. Peters of the Bureaus College Park Metallurgy Research Center. Copies are not sold by (Md.) the Bureau of Mines, but cain be purchased for $1 each from the Superintendent of Documents, U.S. Government Printing Office, Washington D.C. 20402. Orders should specify catalog number 128.27:8426. SILVER MIMING STOCKS j have profit potential 1 I RANGE tc ! TO S&0 PER SHARE Wo specialize in silver, gold and uranium stocks and selective penny mining stocks. We accept collect calls on buy orders. J. H. 1 1 DILLON & CO. W. 412 Sprague, Spokane, Wash. 992bl, Tel. J I J I1I443I I Member Spokane Stock Exchange f MHIMMHHHHNHHHHNdl YOUR Classified in the looking for business & investment opportunities, stocks, properties, new & used equipment for sale or lease, employment (Continued from Page 1) pool have been estimated than $500,000 & at an by independent geologist. In other Serving the mining and oil industries of the Rocky Mountain Region. Articles and information contained herein are true and factual to the best knowledge of the publisher. Information and opinions of s Reaches Readers more Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co.. 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box 19243, Salt Lake City, Utah 841 19. stages insurance, yields capital and operating cost estimates in the form of tables suitable for publication. It is written primarily in Fortran IV, a computer language familiar to many engineers, and with a few modifications can be used on financier. Texas in' early labor, and oilman by the Interiors development is determined in part by economic evaluations. The Bureau's computer program is designed to eliminate many of the important by routine calculations that .determine capital and operating costs for a hypothetical plant embodying a new chemical process. The program, using data that includes estimated costs of materials, energy, equipment, considered a frontier, at least in onshore exploration, excluding Al as ka. The West' still is considered the best prospecting area. independent of the on sale at the Government Printing Office. The industrial potential of chemical processes that may still Inermountain West produces 600,000 barrels of oil a day. And u nique Bureau of Mines. Copies are now the said published Department level. Burch -A complex simplifies part of evaluating economically job new chemical processes has just The nation now imports 21 oil used per cent of the We domestically, he noted. would hope to keep it at that Mr. GTON that computer pruyriiin of the eastocflgjg) Research into the use of nuclear energy to stimulate natural have a few large pools. for oil But the United States has hundreds of smaller ones. This results in foreign oil being cheaper to produce when extracted from these large concentrations. But we want to keep in mind that if we relied more on foreign oil it would not necessarily mean lower costs to the consumer. When you reduce the profitability of one area of an industry, it (the industry) has to make it up somewhere else," Mr. Burch said. WA SH IN similar cases involving flooding or condemnations for other reasons of oil and mineral leases, the government has paid the value of the reserves, less production costs. lSDASs purchasing the assets of Kaw Valley throughs the transfer of an undisclosed amount of ISDA. common stock, according to Mr. Kirby. ISDASis a Utahs corporation with mining properties and other oil leases in Arizona and Utah, Mr. Kirby said. Bud Morrow of Spanish Fork, Utah is president other services. For os little os $2 for 20 words & 10 for each addi- tional word you can tell your story. Deadline: nesday preceding the Monday publication date. FILL Wed- IN WORDS - CLIP & MAIL of the corporation. mama Registrar & Transfer The Professional Stqck Transfer Company Salt Lake City 322-169- 6 Mail to: Rocky Mtn. Oil & Mining Journal P. 0. Box 19243 Salt Lake City, Utah 84119 PAYMENT WITH ORDER PLEASE |