Got oil? Warren Buffett's Berkshire Hathaway went on a buying frenzy of Occidental shares

<p>According to filings with the U.S. Securities and Exchange Commission (SEC) Warren Buffett's Berkshire Hathaway has increased its holding of shares of Occidental Petroleum to 34%.</p><p>Seeking Alpha (gated, but<a href="https://www.msn.com/en-us/money/markets/berkshire-hathaway-s-share-of-occidental-petroleum-hits-34/ar-AA1mLTs8" target="_blank" rel="nofollow"> this is not</a>) said it was a 'buying frenzy':</p><ul><li>
Berkshire went on a buying frenzy of Occidental shares last month, accumulating more than 15M shares at a total cost of about $900M over a series of transactions.
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The purchases occurred on the heels of Occidental's acquisition of CrownRock in a deal valued at $12bn. The acquisition expanded Occidental's footprint in the prolific Permian Basin by more than 94K acres.
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The Permian Basin is the most profitable oil and gas field in the country. </li><li>Occidental says many of its drilling locations remain profitable even if oil prices fall below $40/bbl</li></ul><p>***</p><p>Crude update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.