Cramer's 'Mad Money' Recap: Slick With Oil

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"Tonight's show is all about oil," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

While shooting into the ground may have gotten you some black gold on the Beverly Hillbillies, times have changed, he said.

Rex Tillerson, the chief executive of Exxon Mobil(XOM Quote), got put on the hot seat about executive compensation and price gouging.

But Cramer said that the money-making question in his Today Show interview was about what Exxon will do with its new-found wealth.

"We've chosen to invest in technology," Tillerson said in his interview. And that means oil technology companies are going to get a boatload of cash, Cramer said.

He highlighted the following three oil technology companies that he called "the lifeblood of the oil technology industry."

The first two were newer companies Core Laboratories(CLB Quote) and Dawson Geophysical(DWSN Quote).

Core Laboratories "owns an apartment on the new high list," and Dawson has also hit its 52-week high, Cramer said. He believes that both of these companies will move higher and that a slight pullback could mean a good entry point for investors.

He said that Core Labs makes reservoir management equipment, meaning the company evaluates the quality of oil in a given reservoir as well as finds information about the rock that must be drilled into to get at the oil.

Dawson is involved in two- and three-dimensional seismic mapping, Cramer said. That means that they have the technology to predict where oil is.

This is extremely useful given the fact that we are drilling twice as much as we did last year, but are only getting the same amount of oil.