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- ๐ป Cybertrucks were recalled for the 5th time in 2024
๐ป Cybertrucks were recalled for the 5th time in 2024
๐๏ธ And the longshoremen went back to work
Stripper wells are oil or gas wells that produce smaller quantities of oil or gas.
Large oil companies often overlook them due to the smaller scale of production. Despite their low output, stripper wells can still be quite profitable โ especially when oil prices are elevated (like right now)
Pytheas Energy uses AI to revitalize these wells, transform them into efficient producers, and generate cash at a fraction of the cost of larger oil projects.
How it works:
Acquire underperforming wells for cheap: Pytheas acquires these wells at a very low cost per well, taking advantage of undervalued assets in areas like the Permian Basin and the Bakken Basin.
Improve production efficiency: Pytheas leverages AI and machine learning to analyze and optimize well operations. By making the wells more efficient, Pytheas can increase production without increasing operating costs.
Generate consistent cash flow: Once the wells are optimized, they produce a steady amount of oil or gas daily. This production generates predictable cash flow, similar to the steady returns from a real estate investment, where rent is paid out over time.
Scale up: While each stripper well produces a smaller amount, Pytheas builds a portfolio of these wells to generate significant overall production. This can create substantial revenue streams.
Sell oil at market prices: The oil extracted from these wells is sold at market prices, which, given current projections, is expected to remain elevated at around $90-$94 per barrel in 2024.
Learn more:
Clicking the button will:
Take you to Pytheas' investment page on Equifund
Give Pytheas permission to email you
To learn more about Pytheas without giving permission to email, โclick hereโ.
๐ฐ Market Headlines
Stocks slipped as investors awaited jobs report, with the Dow leading declines as tensions rise in the Middle East.
The S&P 500 fell 0.2% and the Dow dropped 0.4%, while the Nasdaq finished just below the flatline.
Oil prices surged over 5% for a third consecutive day on concerns about potential Israeli retaliation against Iran.
Trump Media's COO abruptly resigned as the company agreed to release nearly 800,000 shares worth $12.7 million.
The dockworkers' union suspended a strike until January 15, 2024, to allow negotiations for a new contract.
McDonalds announced plans to launch the Chicken Big Mac in the US on October 10, 2024, following its success in the UK.
๐ถ๏ธ Market Vibes
๐ฐ Market Forecasts and Futures
๐ฑ Fear and Greed Index
๐ค What you said last time
What you had to say:
โThe head guy of the union makes $900,000 a year. Thatโs not enough?? If we give them 77% more in pay, expect inflation not to be far behind. Would be cheaper to open a window and throw money out of it.โ
๐ง What do you think?
Tesla recalled over 27,000 Cybertrucks due to delayed rear-view camera images, marking its fifth recall this year.
Tesla's Cybertruck |
๐ Stocks
Get $20 free shares at โpublic.comโ using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Constellation Brands beat Q2 earnings estimates, but shares fell 4%.
Market movers
Starling Bank was fined $39 million by the UK's FCA for inadequate financial crime controls from 2021 to 2023.
Paramount Global was charged with a class action lawsuit over its recent layoffs.
Eli Lillyโs weight-loss drugs Mounjaro and Zepbound were removed from the FDA's shortage list.
Ideas, trends, and analysis
The median retirement savings for Americans aged 65-74 was just $200,000 in 2022.
This year's flu vaccine reduced hospitalization risk by 35% in the Southern Hemisphere.
The US services sector surged to a 1.5-year high in September.
Hurricane Helene has exposed gaps in federal flood assistance programs, particularly in Appalachian areas where only 1 in 200 homes has flood insurance.
๐ Global Perspectives
๐บ๐ฆ ๐ท๐บ Russian forces launched a major drone attack on 15 Ukrainian regions, damaging energy infrastructure.
๐บ๐ธ ๐ฎ๐ท US President Biden said discussions were underway about striking Iranian oil facilities in response to Iran's recent assault on Israel.
๐ฌ๐ง ๐ฒ๐บ Britain ceded sovereignty of the Chagos Islands to Mauritius while retaining the Diego Garcia military base.
๐ฎ๐ฑ ๐ฑ๐ง Israel ordered residents of over 20 south Lebanon towns to evacuate immediately.
๐พ๐ช Houthi rebels in Yemen warned shipowners via email of a new phase in their Red Sea campaign, causing some shipping companies to avoid the area.
๐ Crypto
The SEC appealed a previous ruling in its Ripple case, citing conflict with Supreme Court precedent.
Grayscale launched the Grayscale Aave Trust, offering accredited investors exposure to the AAVE governance token.
Visa unveiled its Tokenized Asset Platform (VTAP), enabling banks to issue fiat-backed tokens on blockchains.
An upcoming HBO documentary claims to unmask Bitcoin creator Satoshi Nakamoto.
๐ง Errata
An instructor at a California sky-diving center, which has seen 28 deaths since 1985, has been sentenced to prison.
Researchers used satellite imagery to unmask methane leaks from LNG tankers.
A college grad scored a $693k payday after his landlord tossed his stuff.
Father-daughter duo sued after an IVF mix-up revealed they're not biologically related.
๐บ What to Watch Today
Thatโs all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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