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Petrohawk CEO: Natural Gas Is Happening Now
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Since Cramer recommended Petrohawk [HK
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] as one of his “wildcat” drillers last week, the stock is up 11%. But he expects it to cool its heels now that oil and natural gas are both off their highs. And that’s great news, because any opportunity to buy this stock at a lower price is one he would jump on.
To solidify his bullishness, Petrohawk CEO Floyd Wilson told him on Thursday’s show that the company’s technology that allows it to extract gas and oil from deep shales has great promise. Production costs are low and rates are high, he said. And even if natural gas prices were to continue to drop, the exploration and drilling in shale would remain viable.
Cramer’s been saying for some time now that natural gas holds many of the promises to our energy needs, and Wilson affirmed it. Natural gas is abundant, it’s clean burning and it’s relatively cheap. Most important? Nat gas isn't some pie in the sky solution; it’s happening now.
When a stock like Petrohawk pulls back, Cramer views it as a reason to buy more. “The long-term prospects are obvious to me,” he said. “And they should be obvious to you.”
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