Warren Buffett's Berkshire Hathaway Inc. (BRK.A), (BRK.B) conglomerate further increased its stake in Occidental Petroleum Corp. (OXY) this week after the company ܫacquired shale d𒊎riller CrownRock L.P.

Berkshire bought around 10.5 million shares of Occidental this week for roughly $590 million, according to a filing with the Securities and Exchange Commission (SEC).

Occidental 澳洲幸运5开奖号码历史查询:announced a deal on Monday to buy shale driller CrownRock for $12 billion, which will make Occidental the second-largest producer in Texas's Permian basin. ExxonMobil became the largest producer in the region in October after its 澳洲幸运5开奖号码历史查询:takeover of Pioneer Resources for $60 billion.

Midland-based oil and gas producer CrownRock, a joint venture of CrownQuest Operating LLC and Lime Rock Partners, was bought for cash and stock, with around $9 billion of the $12 billion payment set to come from new debt and a $1.7 billion 澳洲幸运5开奖号码历史查询:share issue. Occidental is also taking on CrownRock’s existing $1.2 billion in debt. The deal will add around $1 billion in immediate ca🍷sh flow for Occidental, the company said. The acquirer also has committed to reducing its debt principal by $4.5 billion over the💯 next 12 months.

Buffett said at Berkshire's annual meeting in May that he may add to his nearly 25% stake in Occidental, but that he wouldn't look to take control of the oil firm.

Another SEC filing said Berkshire Hathaway had trimmed its holdings in HP (HPQ) again, dropping the firm's stake in the technology company to around 5% from 12%. Berkshire sold roughly 46 million HP shares in late November, reducing its holding to around 52 million shares, valued at about $1.6 billion. Berkshire 澳洲幸运5开奖号码历史查询:started offloading the firm's shares in September after HP cut its full-year profit forecast due to slowing PC demand and has trimmed its stake by🐽 about 60% this year.