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Show ota dD'p H pj w . o Hj "Ow fletoS of filcAt Significance Volume 28; No. 54 r . c c in The Oil an4 Mining Wctt4 p tr Price Salt Lake City, March 14, 1958 10 cents Biah commissjoni'a!- Oil Co. Weakness' Aims Organized Surety AS&R Decline for For Montana, Wyoming A new oil company with properties in Montana and Wyoming has been formed under the name of Surety Oil Company, DeLynn Heaps, president, announced. Surety Oil Company has been organized as a Nevada corporation with a capitalization of divided into 4,000,000 shares with a par value of 25 cents per share. All stock is common voting stock and $1,-000,0- non-assess-ab- The main office of the oil company will be located at 290 N. University Ave., Provo, Utah, and the newly elected officers are DeLynn Heaps, owner and general manager of Modern Soft Water Service of Utah, Idaho and Montana and a director of the Orem State Bank, as president; Lowell t; Potter of Salt Lake City, Don Jenks, Pocatello, vice-presiden- Idaho, vice-presiden- t; ing. Excellent oil saturated cores were taken from the 1,100 foot evel. An electric log was run on the well by Schlumberger, and another commercial well seems to have been hit Casing has been set and completion of Surety Oils No. 2 well is set for this week. Surety, due to its Devils Basin success, has acquired 5,000 additional acres on various Montana structures. It also plans to test at east two of these this coming summer, Mr. Heaps said. Surety Oil Company has also acquired 200 acres, including six shallow producing wells in the Spring Valley field near Evanston, Wyoming. The company has purchased a cable tool rig and lopes to clean the Spring Valley wells, which are presently shut down because of excessive paraffin in the holes, sometime early this spring: - Leon Frazier, Provo, as secretary-treasureMr.' Frazier is ilso associated with Mr. Heaps; in the Orem State Bank as a director and secretary of the bank. r. 320-acr- According to Mr. Heaps, Surety Oil Company has already made another location on the Willis lease, and plans are now under way for a 5 to 6 well program for this spring and summer. The same company has another e lease, the Petoja, also in Devils Basin field, on which they 320-acr- Information Circular 7816, Plan in the United States as of December 31, 1956. 15 cents. This report contains details about 15,923 serviceable ovens with an annual maximum capacity of nearly 80 million tons. materials produced at each installation also are listed. Oven-Cok- e Coal-chemic- al Information Circular 7817, Peat Producers in the United USS Announces New Appointment Jet Piercing Told New Booklet a 12-pa- ge jet-pierci- e blast-hole- g os i, ft 7 American Smelting & Refining concluded major Co. this week reported net earn-oral arguments of applicants and for If st yfii4-60Protestants late last week. Briels a ?!? will be filed SO days after receipt a of the transcript of the hearings. a net of $39,827,000 or $6.67 I share 19.56 lasi Iear Answering briefs will be filed were lowest 1954. since after. Then following probably no The decline, said AS&R, was more than one days summation of oral argument, in April, the due to weakness in the market metals. for agency has until 30 days to renin produccurtailments Some der a decision. individual tion of copper by seeking 80 acres in--1 ducers during the year was include Phillips Petroleum Co., itiated. But this was not sufficient Continental Oil Co., Carter Oil to offset the effect of increased Co., Superior Oil Co., Aztec Oil output from new mines brought and Gas Co., The Texas Co. and into - production within the last others. Protestant is the Sheel Oil two years in response to the short-Co- ., drill- - ages of the Korean War period which wants the ing pattern placed into effect at and the high prices of 1955 and the field. early 1956, said the annual report to shareholders. Thus world mine production as reported by the Copper Instie tute, reached an peak of tons as against over 2.9 million 2.86 million tons in 1956 and 2.6 million in 1955 when, however, was seriously affectthe this publication, the United States ed industry by a series of strikes. had 75 commercial producers of AS&R said that bill sto hike peat In 17 statea. Although nori-- j on copper are da' reserve, are not a. extensive UDderimportUvedirtyconslderatlon by as some other areas, that state U, ,, at led in 1956 peak output. Officials added that they may on Information Circular 7818, have an important influence domes-Unitea is which both Asarco, Packaged Fuel Plants in the n States that Reported Pro-- tic and foreign producer of I in 1956. 10 cents. The Per and a processor of domestic report shows that packaged fuel I and foreign raw materials. plants decreased from 70 in 1946 Project to Cost Added $30,000,000 In connection with copper, to 26 in 1956 and that I AS&R, which owns 57.75 per cent bituminous coal is the chief fuel Southern Peru i Copper Co., an packaged. nounced the latter firms big Information Circular 7819, Toquepala project in Peru would Plants in the cost some 30 million dollars more United States that Reported Pro-- than originally projected, duction in 1956. 10 cents. The bu- This will necessitate further reau survey shows that the na- - financing in 1959, in addition to tion had 21 active the Export-ImpoBank loan of plants in 1956 with Wisconsin 100 million dollars (plus capitalleading in the number of installs- - ized interest), the present com-tion- s I and output. mitments of toe stockholder com- !? i?JppUers loans ae Information Circular 7820, Beehive-Cok- e . . .. Plants in the Unit- ed States that Reported to the 15 Bureau of Mines in 1956. Si JLJiS cents. The bureaus study revealed I ,, heduledfwhe The agency 0 3-9- 4 non-ferro- us pro-Applican- 40-ac- ts. re d cop-ductio- 1 low-volati- le Fuel-Briquetti- fuel-briquetti- rt first half of there were 61 beehive-cok- e plants 1960. in the nation in 1956. Of these, 44 AS&R with 6.920 ovens were active dnr-- l over-rufkthe30 r0J,e,m dollar Planti wh bracket Is subject to increase or decrease in next two years. On the lead and zinc issue, toe annual report said that with leac at 13 cents a pound and zinc a 10 cents a pound competing with London prices of nine and eigh n cents, respectivley, few ducers In toe U.S. or abroad can operate profitably. it said AS&R was not opposec I to straight tariff increases on toe two metals as proposed before toe U.S. Tariff Commission, ex San Juan County, Utah. that if the levy was increased Net Income from tte Clayton I cept be silver mine in toe Wallace dis- - hiked on in zinc trict was $92,880. During the year, ores orcorrespondingly concentrates. The firm toe firm sold a sixth of its interall import quotas, as est in the Ransom and also lead-zin- c lsked by western ceived some income from the miners, as unworkable. property. The income total from Production, Demand Draw uranium was $12,893. General business conditions do The heavy costs charged to the not afford much reason for ex Ransom mine is a result of de-- pecting a dramatic increase in the pleting the original capital outlay consumption of copper, lead or by $58,248, said W. M. Yeaman, I zinc in the near future, barring some unexpected political or millpresident. pro-Clayt- on Silver Mines, Wallace, Idaho, reports a net profit of $35,668 for year 1957 which in- eludes a loss of $57,212 on the Ransom uranium mine venture in tary development. On the other land, production is slowly being wrought into line with demand. Dnce given a balanced position etween the two, somewhat more remunerative prices are a possibility, the corporation stated. The report notes that affiliated Garfield Chemical and Manufac-urin- g Co. produced a record 391,-74- 0 tons of sulphuric acid at Garfield, Utah, in 1957. Garfield Chemical is jointly owned by AS&R and Kennecott Copper -- orp. and during the year completed liquidation of all advances made by parent companies for construction and, in addition, paid a dividend to your company. The 1957 production of sulphuric acid represented a 32 per cent increase over output of 296, 312 tons in 1956, previous high figure. all-tim- 1 Utah Appointmenta have just recently completed drill of PROVO, E. Strate as division Myron and maintenance superintendent utilities for Columbia-GenevSteel Divisions Geneva works was announced today by L. F. In Black, general superintendent of booklet Application the U.S. Steel plant. A of the Rocket Jet to Mining and In this post, he will direct the Quarrying, is no wavailable. This activities of Genevas largest denew booklet traces the develop ment of the process partment. rocket-typand describes how its A native Utahn, Mr. Strate s flame is used to produce was bom in Clear Creek and atin taconites, to tended the University of Utah, make channels in dimension stone where he received a degree in quarries, and to shape and finish electrical engineering. He began stone. some 28 years of service with U. The booklet also includes in- S. Steel in 1930, when he was formation on the principles of in- employed as a mechanics helper dustrial rocket burner design, at the Columbia Coal, Mine near heat transfer, and flame geometry, Price. Since then, he has held Freccopies of the booklet may various management posts at Colbe obtained by writing to Linde umbia Coal MJjne Youngstown Steel Company, 30 East 42nd Street, District of Camegie-HliniIronton Geneva and New Ydrk 17, New York. Ask for and the Plants. Form JU3. iron-bearin- Reported Net Earnings New Bureau Publications Available For Various American Industries Mr. Frazier, an attorney, will States that Production act - as general counsel for the in 1956. 15 Reported cents. According to of corporation. Mrs. Rulon Clark togFive new publications giving lo Salt Lake City is a director, ether-with Royal Fisher, Salt cations, capacities, output, and other information for industries Lake City. fuel briquets, beehive producing The Surety Oil Company will coke, oven coke, peat, and packdevel9P oil properties located in aged fuel in the United States Montana and Wyoming, a Mr.e have been completed by the BuHeaps announced, including reau of Mines, the Department of lease covering the north one-ha- lf the Interior announced today. of Sec. 6, Township 10 North, All are Information Circulars Range 25 East, Musselshell Counare available from the Superthe and .company where ty, Montana, has just recently completed a com intendent of Documents, Washmercial well which is currently ington, as follows: pumping approximately 60 barrels per day. Mr. Heaps said that Surety Oil swabbed the well, and then acidized using 250 gallons of mud acid, followed by 1,000 gallons of formation acid. The well reacted favorably to the acid program, piri oil rose in the hole to a depth of 1,550 feet, with no water. Oil and Gas Conservation Commission will render decision on spacing of oil wells in Desert Creek area of San Juan County until sometime in May. I I Bureau Reports On Ore Finding Two rapid laboratory methods for indicating-tneHurahithorium contents of certain ores are described in a Bureau of Mines report released today by the Department of the Interior. Bureau scientists at Tucson, Arlz., have tested several c methods in assaying more than 5,000 ore samples for toe Atomic Energy Commission during toe past eight years. The two techniques described in the report are considered toe most reliable yet found. The report was written by LaMar G. Evans, geologist, and Carl Rampacek, supervising metallurgist, both of the Bureaus Southwest Experiment Station at um radio-metri- Tucson. One of toe procedures, called a ratio method, originated at the Tucson laboratory. The other, an equilibrium method, was developed by toe Canadian Department of Mines and Technical Surveys. Laboratory equipment and skill are essential for using either technique. Both procedures utilize measurements of toe radiations emitted by an ore sample to gain an approximate indication of its uranium or thorium content. However, toe bureaus report says that the equilibrium method developed in Canada has proved the more practical of toe two and, with some modification, it has been adopted by the bureau at Tucson. Authors of toe report caution that neither method is a substitute for chemical analysis which so far is toe only known accurate procedure for determining the uranium and thorium content of the wide variety of ores now encountered in prospecting. The chief value of radiometric methods is .to screen out ores not worthy of chemical analysis. A copy of Report of Investiga-- t i o n s 5390, Radiometric Determination of Uranium in Ores, can be obtained from the Bureau of Mines, Publications Distribution Section, 4800 Forbes Street, Pittsburgh 13, Pa. It should be identified by number and title. T |