Occidental's strong results prove Buffett's investment thesis

Occidental Petroleum, a major holding of Warren Buffett's Berkshire Hathaway, demonstrated its value by reporting strong first-quarter results, solidifying its position as a top investment. The company's performance highlights its ability to generate shareholder value. Occidental produced nearly 1.4 million barrels of oil equivalent per day, generating $1.2 billion in free cash flow. This allowed the company to pay dividends and aggressively reduce debt, exceeding its debt reduction targets. Occidental's focus on debt reduction and its diverse asset portfolio position it well for various market conditions, including potential oil price fluctuations, making it an attractive investment for Berkshire Hathaway.