this time the slip 190 is then heat treated as desired to produce for example a desired strength hardness etc of the slip then the slots 192 are formed using conventional water jet cutting techniques other methods of producing the slip 190 may be utilized without departing from the principles of the present invention the above described method of producing the slip 190 removes less material in forming the slots 192 than does conventional milling methods as a result the slip tensile strength is increased more slots may be used for a given slip diameter thereby increasing the flexibility of the slip i e decreasing its resistance to radial expansion enabling the slip to be shortened and producing cost savings in other components of an anchoring device on which the slip is utilized note that the slip 152 a shown in fig5 a amp b is produced by the above described method of producing the slip 190 resulting in a shorter slip mandrel 172 a and wedges 156 a 158 a as compared to the slip 152 produced by conventional milling techniques and its associated mandrel 172 and wedges 156 158 shown in fig4 a amp b referring additionally now to fig7 a method 200 of producing a slip embodying principles of the present invention is representatively and schematically illustrated the method 200 is depicted in fig7 and described herein as being used in producing the slip 190 however it is to be clearly understood that other slips and other types of slips may be produced by the method without departing from the principles of the present invention in the method 200 it is preferred that the slip 190 first be formed in a tubular shape with gripping structures.