Note: Internet Connection Will Be Poor -- Maybe Non-Existent -- For Next Eighteen Hours -- July 28, 2021

I'm headed into the wilderness where folks are unable to apply for Voter ID cards because fax machines are said not to exist out there. I assume if there are no fax machines, it is likely there will be no internet either. 

Ford Earnings -- July 28, 2021

Earnings surprise:

• EPS: 13 cents vs estimates of a ten-cent loss
• revenue: $26.8 billion vs estimates of $24.7 billion 
• increases its full-year guidance
• says chip shortage is easing

No New Permits; Whiting Renews Nine Permits; CLR Reports Two Completed DUCs But No Data -- July 28, 2021

Note: it's hard to say how much of this information is accurate. NDIC says some of its databases are offline while undergoing maintenance. Data was current from those databases prior to July 14, 2021. 

Active rigs:

$72.39	7/28/2021	07/28/2020	07/28/2019	07/28/2018	07/28/2017
Active Rigs	23	12	59	62	60

No new permits.

Nine permits renewed, all Whiting:

• Whiting: four Holmberg permits, one Foreman Federal permit, and one Pennington permit, all in Mountrail County;
• Whiting: three Link permits in McKenzie County

Two producing wells (DUCs) reported as completed:

• 36803, drl/NC, CLR, Florida Federal 9-11H1, Camp, no production data, 
• 32474, drl/NC, CLR, Florida Federal 8-11H, Camp, no production data,

Apple Supplier TSMC Readies 2-nm Chips For 2024 -- MacRumors -- July 28, 2021

 See this post for background. 

Tag: 2-nm, 3-nm, 5-nm, 7-nm, 10-nm

This is all about the size of the "chip": 10 nm, 7 nm, 5 nm, 3 nm, and now the 2 nm.

The last update:

• March 1, 2021: TSMC -- Apple's main chip supplier -- ready to mass produce 3nm chips. Huge. 

Now today, this story: Apple supplier TSMC readies 2 nm chips for 2024. Link here.

2 nm chips for Apple.

Intel is having trouble managing 10 nm. 

From the linked article:

Apple chip supplier TSMC is planning to manufacture chips with a 2nm fabrication process by 2024.

TSMC plans to build a new factory for two-nanometer chips in Hsinchu, Taiwan. 

Construction has been cleared to begin in early 2022, with equipment being installed in 2023.

..... we may tentatively expect the first 2nm Apple chips to be the "A18" or the "M5." 

... it seems inevitable that the company will do so in tandem with TSMC since it is Apple's sole processor supplier with an expansive manufacturing capacity.

TSMC's manufacturing capabilities are also considerably more advanced than rival companies like Intel, which have been mired by delays and stagnation with older manufacturing processes, enabling Apple, as a major TSMC client, to maintain a competitive edge with its custom silicon chips. 

Earlier this week, Intel announced plans to make chips for Qualcomm.

The A14 and M1 chip debuted in devices last year and were Apple's first chips to be manufactured with a 5nm fabrication process. 

Apple is believed to have already booked an order with TSMC for 4nm custom silicon chips, which are due to begin production this year, ahead of the supplier offering 3nm chips from 2022. 

2nm chips in 2024 would be another progression of this miniaturization process.

TSMC is undergoing a rapid global expansion to meet demand, building a 5nm chip facility in Arizona and expanding its 28nm factory in Nanjing, China, while also weighing up the possibility of opening new factories in Japan and Germany.

Notes From All Over -- July 28, 2021 -- IN PROGRESS

Refiners: top three US refiners expected to report first profit since pandemic began. Link to Tsvetana Paraskova. But is it sustainable? LOL. From the linked article:

The second quarter of this year, however, will likely see decent earnings results from all three largest refiners in the U.S.—Valero Energy, Phillips 66, and Marathon Petroleum Corporation. That's thanks to higher fuel demand in America, increased run rates at refineries, and rising refining margins.

These three refiners are expected to report on Thursday and next week around $675 million in combined net profit for the second quarter.

But this estimate has been nearly halved over the past month—analysts expected at the end of June $1.3 billion in combined net earnings. The lower projections in recent days are the result of high oil prices in recent weeks, which dent profits for refiners, as well as sliding industry margins in June.

Concerns about the resurging COVID cases could mean that Q2 could be the 'peak profit' quarter for American refiners this year.

For Q1, Valero, Marathon Petroleum, and Phillips 66 all reported losses, but their managers were upbeat about fuel demand and refining margins going forward.

Crude oil days supply, US: drops from 27.3 days to 27.2 days. Link here.

Enterprise: 2Q21 earnings -- S&P Global Platts. 

• growth spending increases as more projects sanctioned
• record rise in second quarter profit July 28, 2021, as an ongoing recovery in demand spurred increasesin natural gas pipeline and processing volumes
• 50 cents/share vs 47 cents/share a year earlier (2020 -- pandemic lockdown)
• revenue jumped 64% to $9.45 billion from $5.75 billion; 
• but look at this: total costs and expenses rose 83% to $8.12 billion in the latest quarter; say wha?
• major projects remain on time and in progress:
• 4Q21 completion:
• Gillis natural gas pipeline: to connect Haynesville shale production with LNG markets in southwestern Louisiana
• a natural gasoline treated in Chambers County, TX