Weatherford International (WFT) Message Board

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Gold/Mining/Energy : Weatherford International (WFT)

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From: JakeStraw	3/5/2010 8:46:44 AM
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“The oil-service business is on fire,” Cramer said Thursday, and Weatherford International is the best way to play it. Last Friday’s Baker Hughes Rig Count number, which is a weekly count of the rigs drilling for oil and natural gas, showed a 28% increase over the previous seven-day period. That’s the biggest jump in 17 years, and the ninth straight weekly gain in nat-gas rig use. This is great news for the oil-service names, Cramer said, which supply these rigs with essential products and services. That’s one reason why Cramer’s so bullish on Weatherford [WFT] right now. There’s also the fact that as the oil and gas reserves of the major integrated companies mature, the service firms generate cash by selling the technology necessary to reach hard-to-find resources. And there’s money coming in from overseas as well, as the Weatherfords of the world are brought in to help state-owned oil companies boost their performance. cnbc.com\|headline\|quote\|text\|&par=yahoo

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