Drilling For Dollars

Monday, 21 Apr 2008 | 4:28 PM ET

Oil hit another record high Monday before pulling back. What's the best way for you to profit?

I like drillers in the oil and energy space, says Pete Najarian on CNBC's "Closing Bell." Pride International , Diamond Offshare and Transocaean are my favorites because they’re deepwater drillers with exposure in Brazil. You might recall that last week Brazil discovered new oil reserves in deep water. Or, if you want to spread out your risk, take a look at the Oil Service HLDRS, he counsels.

Fast Money Final Call
Drilling for dollars, with Fast Money's Pete Najarian.

How about exploration and production?

I’d look at Apache EOG Resosurces and Chesapeake Energy as natural gas plays.

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