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2008 will be the year of …? Intercultural Dialogue? Well, in Europe, yes. But as far as Cramer’s concerned, the next 12 months will be all about natural gas.
It’s a prediction he’s been making for a while now. But with oil prices sky high, and nat gas super cheap and clean – this is a "commodity whose time has come," he said.
Well, thanks to a boost from the federal government, Ultra Petroleum’s [UPL
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] time might have come, too. The Bureau of Land Management just gave the oil and gas exploration company – and Cramer’s favorite natural-gas stock – more land to drill and permission to increase the number of wells on that land. And Ultra also got the go-ahead to drill year round in the Pinedale/Jonah field, one of the best nat-gas sites in the U.S.
Ultra’s stock is already up over 24% since Cramer recommended it July 9, but the benefits of the BLM decision should send the stock higher. Even if it doesn’t, the company seems to have enough production growth on its own to keep the share price climbing.
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