Jim Cramer's 'Mad Money' Recap: Opportunity Knocks

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NEW YORK (TheStreet) -- Opportunity is knocking off the coast of Louisiana, Jim Cramer told his "Mad Money" viewers Monday on location from the deck of an Ensco (ESV) off-shore oil rig.

Cramer said the revolution in oil and natural gas has taken what was once considered an old and tired oil field and infused it with new life, thanks to new technology. He said the oil and gas renaissance is a solid, long-term theme that investors can't count of for years to come. No matter the woes in Russia or Europe or the slowdown in China, there will always be a thirst for oil somewhere, Cramer said.

That means great things for a host of oil and related stocks, including Ensco, which manages the rig Cramer was standing on; to Halliburton (HAL), who helped engineer it; to Energy 21 (EXXI) that sells the oil it produces; to companies such as Nucor (NUE), which is building a new steel plant to take advantage of the cheap fuels it produces. Executive Decision: John Schiller Jr. In his first "Executive Decision" segment, Cramer sat down with John Schiller Jr., chairman and CEO of Energy 21, to talk about the rig he was visiting. Schiller said that despite being the second-largest old field in the Gulf, the area where they were standing has only seen two wells drilled over the past nine years. He said while the field may not have been profitable for Exxon Mobil (XOM), its former owner, for Energy 21 it's a gold mine. While Exxon needed to produce at $10 a barrel, Energy 21 is perfectly happy drilling at $20 a barrel. When asked more about operating the field, Schiller noted that new technology in every aspect of drilling is making the company's operations more efficient and profitable. Horizontal drill was invented in the Gulf, Schiller reminded Cramer, and with new imaging technology Energy 21 is finding oil from 3,000 feet below the surface to 18,000 feet and in some places even down as far as 24,000 feet. Turning back toward Wall Street, Schiller said Energy 21 has been aggressively buying back its stock between $24 and $25 a share, as it can make a lot more money than that over the long term. Cramer said Energy 21 is the perfect example of how America's oil and gas industry is creating an exciting future for our country. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

Stock quotes in this article: ESV, HAL, EXXI, NUE, XOM