Why is Warren Buffet buy OXY?

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dan_s
Posts: 35124
Joined: Fri Apr 23, 2010 8:22 am

Why is Warren Buffet buy OXY?

Post by dan_s »

Maybe it is because OXY has a large acreage position in the Permian Basin.

"Well of the Week ...Occidental Petroleum Drilled a Monster: Occidental Petroleum has the best new well we could find this week. Oxy drilled a Wolfcamp (the name of the formation) well in the Permian Basin, and it reported an astonishing 6,500 barrels of oil per day for its first 30 days. This is 200,000 barrels generating nearly $14 million in gross revenue. WOW!" - The Upside Newsletter by J.R. Young
Dan Steffens
Energy Prospectus Group
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