Cramer's Next Play on Offshore Drilling: Bristow Group (BRS)
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Continuing his efforts to give Mad Money viewers ways to play a recent increase in oil drilling, Jim Cramer recommended shares of Bristow Group (NYSE: BRS) on his show last night.
Bristow is a helicopter services company that provides transport to and from off-shore oil platforms. Cramer insists that the recent trend in offshore drilling will continue and believes that as rigs move further and further away from land, demand for Bristow's services will increase. Also, Cramer said this type of market has high barriers to entry, so Bristow controls "pricing power not seen in other industries."
Lastly, Cramer points out that the continuing war in Iraq has created a squeeze on the supply of helicopters. Cramer said, "We've got a chopper shortage brewing, and Bristow's the way to play it."
Bristow Group, Inc., together with its subsidiaries, provides helicopter services to the offshore energy industry.
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