It’s easy to miss a quiet deal that just went down in the energy industry, but missing it would be a mistake. Jim Cramer thinks it has the potential to turn the stock around.
The Mad Money host was talking about a deal inked by Heckmann Corp, an oil services firm – it just bought privately held Power Fuels for about $381 million.
With shares down 44% ytd, Cramer called the deal, “a business taking control of its destiny.”
Heckmann provides energy companies with water for fracking, or hydraulic fracturing, a process in which chemicals, sand and water are injected into the earth to fracture shale formations and release oil and gas.