"They also do production enhancement — they can tell oil producers the best place to drill their wellbores in order to squeeze more crude out of their oil fields. And Core Labs has a reservoir management business where they show their clients how to maximize the return on their investment in a given oil field," Cramer explained.
In a nutshell, "Our technology helps clients recover more and more oil," explained David Demshur, president and CEO of Core Labs.
The Mad Money host thinks results speak volumes. Core Labs just reported and the company delivered earnings of $1.17, a 4-cent beat, on better than expected revenues.
"Although Schlumberger and Weatherford have started to compete in this space, I think Core still has the best technology in the business," said Cramer.
"This is a stock that I've liked for ages," he added. "I think the long-term record here is tremendous. They're even starting to make money in Iraq!"
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