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The company is Basic Energy Services, an oil service company that provides a wide range of well-site support.
According to the company's website, from over 100 service points in 13 states, Basic Energy Services provide a comprehensive range of services that are fundamental to establishing and maintaining the flow of oil and gas throughout the entire lifecycle of a well.
Although the space is dominated by Schlumberger, Halliburton and Baker Hughes, Cramer said BAS is able to compete because it has a lot of exposure to old-fashioned vertical wells. "The big three are much more focused on horizontal drilling, the newer method of getting oil and gas out of areas that were once believed to be too hard or too expensive to reach."
If price action is any indication, it appears BAS is sitting in the sweet spot. Shares have surged more than 70 percent year to date.
"A lot of that gain as to do with where the company operates: they get 43 percent of their revenues from the Permian Basin, which is currently the hottest oil play in the United States," Cramer explained.
"It's the gift that keeps on giving," added Roe Patterson, president and CEO of Basic Energy Services on "Mad Money." "We keep on finding new zones to open up with the new technologies."
But Basic Energy Services is hardly a one trick pony.
"They also have quality real estate in the Rocky Mountains, the mid-continent field, South Texas and Appalachia; all of which are areas with lots of oil and nat gas liquids," Cramer said.
Business has been booming. And Cramer sees the strength reflected in the latest results. "Just last week, Basic Energy Services reported strong operating data for May, and they also had a very positive analyst day on May 29th."
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Of course, Cramer is aware of the downside. Shares recently pulled back after BAS announced a six million share secondary offering.
Cramer, however, sees the pullback as more of an opportunity than anything else.
He's often said that secondaries can be a sign of strength not weakness. And looking at the vast opportunities facing Basic Energy, Cramer added, "Companies like this should have many good years to come."
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