FEATURED SLIDESHOW
Who Is The Worst CEO?Mad Money needed new inductees for its
Wall of Shame, so we asked viewers for
nominations.
RECENT POSTS
- 4 Enemies of Bull Markets
- Experiencing Technical Difficulty?
- The Importance of Good Breadth
- How Big Money Rules the Markets
- Follow the Leader
- Mad Mail: Chesapeake Energy Is Hiring?
- Lightning Round: Royal Dutch Shell, Bank of America, RF Micro Devices and More
- Lightning Round OT: Harley-Davidson, Heartland Payment and More
- Cramer’s Christmas List
- Cramer: This Stock Offers ‘Plenty of Upside’
Text Size 
With oil prices sky-high and not enough rigs available to drill for it, Transocean, the largest offshore contract driller in the world, can fetch great prices for its services and lock in those fees for at least a few years, Cramer said during Mad Money.
All but one of Transocean's [RIG
Loading...
()
] deepwater rigs are contracted out until at least 2010, and a good number are committed until 2012. This gives the company, and investors, the earnings visibility that's so desperately needed in this unpredictable market.
And Cramer didn't seem too worried by the rigs that aren't booked through 2012. The GlobalSantaFe acquisition -- and that of Grant Prideco [GRP
Loading...
()
] by National Oilwell Varco [NOV
Loading...
()
] -- just means there's less competition in the industry. So Transocean can just keep on charging $500,000 a day for use of its rigs, and maybe even more, when it comes time to renegotiate those expiring contracts.
Transocean is "using high prices today to lock in great rates for tomorrow," Cramer said. "RIG has terrific visibility, and it is one of my favorite stocks here."
Jim's charitable trust owns Transocean.
Questions for Cramer?
Questions, comments, suggestions for the Mad Money website?
Data is a real-time snapshot *Data is delayed at least 15 minutes