Reminder:This Is Not An Investing / Investment Site — July 18, 2023

Locator: 45161B. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source. 

Latest GDP Estimate Rises Again. Now At 2.4. Easily Outpacing China. July 18, 2023.

Locator: 45160ECON. 

Latest GDP estimate is up again. 

Latest estimate: 2.4.

Link here.

Outpacing China. Great Britain facing severe recession. Germany in a recession.

Think Biden’s CHIPS Act and Biden’s Inflation Reduction Act.

Charlie Munger says we’re in a mild recession.

Link here. 

Consumers More Resilient Than Anticipated -- Big Banks -- July 18, 2023

Locator: 45159INV.

This is just a snapshot in time; it may change tomorrow.

But.

But.

But.

Remember all that hand-wringing that Americans were starting to run out of that money they had saved during the Covid-19 lock down?

It looks like consumers are more resilient than experts predicted or imagined. If I recall correctly, two-thirds of consumer spending makes up US GDP. Fact-check me on that. 

Well, add that to all that recession talk and move "running out of money" to the right.

You know, there is a story out there that wages are also showing increases over the past year. As just one example: United Airlines pilots -- a 40% increase in pay over over four years. Not trivial.

It's not as if Americans aren't still making money. In fact, a lot of Americans -- albeit, probably a small percent, have their money in securities paying four percent or better.

Oilfield Service Providers Enjoying Huge Profits -- Source -- July 18, 2023

Locator: 45158INV.

Link here.

Companies mentioned:

• Baker Hughes
• Halliburton
• Schlumberger

• combined, set to post a combined second-quarter profit of $2.04 billion compared with $1.27 billion in the year-ago quarter.

Norwegian energy intelligence firm, Rystad Energy, has predicted that offshore oil production will surge 35% in the current decade

According to Rystad, offshore production will jump to 3.3 billion barrels per year by the turn of the decade from 2.5 billion in 2021.

Surging offshore production in Brazil has significantly improved the utilization of shuttle tankers, with activity soaring by 55% from 695 million barrels in 2013 to 1.07 billion in 2021. A further increase of 72% is forecast by the end of 2030, when total volumes handled by shuttle tankers in the country will hit 1.84 billion barrels.

3.65 billion / 365 days = 0.01 = 10 million bopd.

XTO Marilyn Wells

Locator: 45157B.

The wells:

Today, July 18, 2023, producing wells (DUCs) reported as completed:

• 36539, 2,431, XTO, Marilyn 21X-23C, Capa, t--; cum --
• 36540, 1,991, XTO, Marilyn 21X-23G, Capa, t--; cum --
• 36541, 1,977, XTO, Marilyn 21X-23A, Capa, t--; cum --

Others:

• 36537, loc/NC, XTO, Marilyn 21X-23D, Capa, t--; cum --
• 36538, loc/NC, XTO, Marilyn 21X-23H, Capa, t--; cum --

Wells of interest:

• 36217, drl/A, XTO, Allie 31X-24EXH, Capa; to the east of the Marilyn wells; t--; cum --:

• 17813, IA/448, XTO, Tubie 21X-23, Capa, same section as the Marilyn wells, t4/09; cum 100K 2/23;