“”Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) continued investment in shares of Occidental Petroleum (NYSE:OXY) has grown to 34%, according to an SEC filing Wednesday.
Berkshire (NYSE:BRK.B) went on a buying frenzy of Occidental (OXY) shares last month, accumulating more than 15M shares at a total cost of about $900M over a series of transactions.
The Berkshire (BRK.A) purchases occurred on the heels of Occidental's (OXY) acquisition of CrownRock in a deal valued at $12B. The acquisition expanded Occidental's (OXY) footprint in the prolific Permian Basin by more than 94K acres.
The Permian Basin is the most profitable oil and gas field in the country. Occidental (OXY) boasts that many of its drilling locations remain profitable even if oil prices fall below $40/b.“” is he betting on a gop win?

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