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- 🚢 Longshoremen cripple America (Their words)
🚢 Longshoremen cripple America (Their words)
🪙 And Costco added platinum bars to its precious metals lineup
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 — 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, click here.
📰 Market Headlines
US stocks ended mixed yesterday, with investors cautious over Middle East tensions and labor data.
The Dow rose 0.09% , while the S&P 500 edged up 0.01%. The Nasdaq dipped 0.08%.
Nvidia shares jumped 2%, leading chip gains, while Tesla sank 5% after disappointing Q3 deliveries.
A 45,000-worker strike entered its second day and halted shipments at East and Gulf Coast ports; the White House backed the union.
Costco added platinum bars to its precious metals lineup after gold bar sales hit $200 million per month.
The US Department of Homeland Security banned imports from a Chinese steel and sweetener maker over forced labor allegations in Xinjiang.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“Unfortunately, escalation is usually the way these things work. Israel hasn't pulled back yet, and I don't think there's much hope for it happening now that Iran has entered the mix.”
📺 What to Watch Today
With this video, Harold Daggot has done more damage to unions than Jimmy Hoffa and Lee Kuan Yew — combined.
Threatening fellow Americans with losing *their* jobs if “his guys” don’t get a 77% raise while average Americans try to keep up with inflation is the peak of cutthroat… x.com/i/web/status/1…
— @jason (@Jason)
7:56 PM • Oct 1, 2024
📈 Trends you need to know
The pandemic shifted the majority of US imports to the ports currently striking.
🧠 What do you think?
Opinions are mixed on the Longshoreman strike on America’s east coast. What do you think?
The Longshoreman Strike |
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Levi Strauss beat estimates, however shares tumbled 8% after lowering full-year sales guidance to 1% growth.
Conagra Brands reported Q1 FY2025 net sales down; shares dipped 8% as the company reaffirmed its fiscal 2025 guidance.
Market movers
OpenAI raised $6.6 billion at a $157 billion valuation, marking the largest VC round in history.
Amazon faced a US labor board complaint over the "joint employment" of drivers.
Levi Strauss initiated a strategic review of its Dockers brand, including a possible sale.
Toyota invested an additional $500 million in electric air taxi startup Joby Aviation.
Kyndryl quietly shed hundreds of workers, with plans to cut 5,200 more.
Ideas, trends, and analysis
UBS placed the likelihood of a Roaring '20s economic scenario at 50%.
The S&P 500 surged 20.8% year-to-date, marking the strongest start to a year since 1997.
Facebook paid content creators $2 billion this year, with Reels and short video payouts growing 80%.
The dollar hit a two-week high as strong jobs data lowered chances of sharp Fed rate cuts.
🌍 Global Perspectives
🇵🇸 🇮🇱 Gaza food aid plummeted as Israel imposed new customs rules and cut commercial deliveries.
🇺🇸 Thousands in North Carolina are still without water, now six days since Hurricane Helene hit.
🇪🇸 Spain ended the search for missing migrants after a boat sank near the Canary Islands.
🇷🇺 🇺🇸 Russia ruled out nuclear talks with the US, blaming NATO expansion.
🇺🇦 🇷🇺 Ukraine retreated from Vuhledar, a key defensive city under attack since 2022.
📊 Crypto
Bitwise filed for the first XRP ETF, aiming to track the seventh-largest cryptocurrency’s daily price.
A federal court allowed Kalshi to list election betting contracts, rejecting the CFTC's block attempt.
SEC Enforcement Director Gurbir S. Grewal stepped down after leading over 100 crypto enforcement actions.
PayPal's PYUSD stablecoin became available on MoonPay in all supported countries.
FTX estate prepared to auction 22.3 million locked Worldcoin tokens at a 40-75% discount to recover $37.7 million.
🧠 Errata
A beaver named Nibi is at the center of a court battle as rescuers try to stop her release into the wild.
The sun unleashed a massive X7.1 solar flare, triggering radio blackouts and potentially vibrant auroras this weekend.
Sean "Diddy" Combs faces a tsunami of 120 new allegations of sexual assault.
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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