An Oil Rig's Supply Chain

It’s Friday, so you should know what this week’s investing thesis is by now: clean offshore drilling.

Cramer’s been recommending names like CGV, Oceaneering International, FMC Technologies and Smith International because they’ve turned what is commonly viewed as an eco-unfriendly business into one that’s very, very green.

Today’s pick? Hornbeck Offshore Services. This company makes the offshore support vessels necessary to carry supplies and workers and other materials back and forth to the oil rig. OSVs also help to keep rigs in place during extreme weather, repair them when they’re damaged and prevent spills and other pollution.

Right now there’s both a shortage of OSVs and a need to update those already being used. The shortage allows HOS to charge higher rates, and the need for newer vessels should fuel growth at the company.

There are other factors at work, coming together to possibly push up this stock: Hornbeck has found work in Brazil; there’s decommissioning projects in the Gulf of Mexico to bring in money; and there’s a chance the company could sell off its tugboat and barge business, providing money to buy more OSVs.

Hornbeck is a small stock, though, with only 20 million shares trading. So remember to buy in small amounts, use limit orders and wait for a pullback if you decide to buy.

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