BRK their value growth is by acreage appreciation by congestion...

BRK

their value growth is by acreage appreciation by congestion drilling by others in the area, ( profitable operations at these oil prices)
but their sp has been treated by the sentiment of the oil price.

hence contrarian to buy with oil dips (which is also what BRK do, buy cheaper entry into high flow rate acreage when oil is off).

Even though BRKs business model is to sell the acreage when the drill out by others increases their reserves, even at todays oil prices.

ie, their value growth is to sell assets, not produce an income from the oil wells.