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Really ‘Frank’ talk from Jim Cramer

(Click for video linked to a searchable transcript of this Mad Money segment)

Cramer has never been one to mince words, but we can't remember him every being quite this Frank.

Oh no, Cramer isn't rolling off candid comments about the government shutdown or a terrible CEO. No this is truly Frank talk - literally.

"I want to introduce you to Frank's International a global oil service play," said the Mad Money host.

Cramer has been a fan of many domestic companies that have leveraged new technology to harvest oil reserves that would have been untouchable just a few short years ago. (Read More: "7 Energy stocks on Cramer's watchlist")

But the play isn't just domestic. "All over the world companies are making use of new technologies to get more of the stuff out of the ground," he said.

And he believes that broad trend puts Amsterdam-based Frank's in the sweet spot.

Adam Jeffery | CNBC

Here's why:

"Frank's is a key player in the tubular services space," Cramer explained. That is, when you drill a well, you need to install casing pipe to keep the wellbore stable, as well as production tubing inside that casing to pump the oil to the surface."

Currently the Mad Money host says there are two major players that provide that kind of equipment; Weatherford and Franks.

"Given that Weatherford has been stumbling a lot of late, I think that Frank's has a fabulous opportunity to take share from its number one competitor," he said.

However, it's not just share grab that Cramer likes. He sees many other tailwinds, too.

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- The company gets 74% of its revenues from offshore drilling, with more than half of their business coming from deepwater and ultra deepwater sites. "That requires a heck of a lot of tubing," Cramer said.

- "Frank's is more international than domestic--they get more than 50% of their sales from overseas, which is the hot area right now," Cramer said.

- "Not only does Frank's have state of the art engineering capabilities," Cramer noted, "but the company's also sitting on a boatload of patents."

- Frank's profit margins are substantial. "Frank's sports a 43% margin on earnings before interest, taxes, depreciation and amortization margin,"Cramer explained. "For peers, that figure is closer to 19%."

Considering all the tailwinds, Cramer thinks the stock is cheap.

"I think it's a buy here into any Washington induced weakness," Cramer said . "However, I can't say I expect much of a pullback."

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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