All's Well in Oil Wells

You can't have oil keep rolling without the rest of the market eventually hiccupping, and it looks like we are in the hiccup stage. We are finally getting used to the fact that the inventory number means squat and we are starting once again to return to the drillers.

So let's go there. Schlumberger (SLB - commentary - Cramer's Take) is best of breed, so that's in. Halliburton (HAL - commentary - Cramer's Take) is going to split into two companies, and the oil service side is a thing of beauty.

I have been buying Nabors (NBR - commentary - Cramer's Take) of Arabia because I have the most faith in that company's ability to drill anywhere any time.

National Oilwell Varco (NOV - commentary - Cramer's Take) is the late-stage player -- when you are out of rigs, you need to buy rigs. That's the play here. Don't forget that Lufkin (LUFK - commentary - Cramer's Take) and Gardner Denver (GDI - commentary - Cramer's Take) are the ancillary plays.

Oil's not done. Oil's going higher. You need to be in one of these companies. I am in two of them for ActionAlerts PLUS, that's how important I think this component of the market is right now.

And will be for the next few years.

At the time of publication, Cramer was long Halliburton and Nabors.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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