Subject: Re: More OXY
The previous set of purchases in May/June 2023 was at prices below $60, in the range $57-59. There was wide speculation that his limit was $60. Now he has purchased at higher than $64.

OXY hasn't been bid up or down significantly, after recent Exxon and Chevron acquisitions. There were rumors that Chevron would make a bid for OXY after Exxon bought Pioneer, but that won't happen now. The only ones big enough to buy OXY now would be the European majors, but that seems unlikely die to strong ESG pressures from Europe. So OXY now is probably more a hunter than prey in the M&A space.

Buffett probably just likes OXY as a standalone company, which is focusing on optimizing its operations and balance sheet and is willing to pay about 8% more today than 4 months ago. Maybe found some loose change in the office sofa.