Core Laboratories CEO Interview
Cramer welcomed David Demshur, CEO of Core Laboratories (CLB) to the show to discuss his company’s prospects. Demshur told Cramer that CLB will do well as long as oil stays above $70 and natural gas above $6. “These high commodity prices,” he said, “we’re not affected by that at all.” He mentioned that Core’s demand is very inelastic due to the fact the company has a lot of long term contracts. Demshur explained that’s the reason the firm has reported record profits in 11 of the last 21 quarters and forecasted record revenue and profits for the current third-quarter and full-year. He went onto say that natural gas is the future. “Nat gas will push out crude oil as our main energy source. It’s just too cheap,” he said. Demshur also said he supports offshore drilling and called it a crime that we aren’t tapping into Alaska’s reserves. Cramer advised investors to buy CLB into the weakness created by the sell off in crude oil. Join the fastest growing community of small cap investors at Stockhideout.com



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