Cramer was bearish on
Executive Decision: Tony Sanchez
In his second "Executive Decision" segment, Cramer spoke with Tony Sanchez III, chairman and CEO of
(SN - Get Report)
, an oil and gas producer that just announced the purchase of 43,000 acres of prime Eagle Ford land from
for $265 million.
Sanchez called the land acquisition "transformational" for his company, noting that it will accelerate growth by a full 18 months. He also noted his company remains fully funded for the next two years, so it will be able to take fully advantage of the new acreage.
Also, Sanchez said the acquisition currently has a full infrastructure buildout, so oil from the wells that will be drilled can easily be piped to market. He said about 75% of this year's production has already been hedged at great prices, and even more will be once the deal closes.
When asked about natural gas, Sanchez said 80% to 90% of the gas that comes out of his company's wells is currently being sold to the market and is a great source of incremental revenue for the company.
Cramer said that with this one deal Sanchez has transformed his company into a major Eagle Ford player. Cramer said he'd be a buyer of the stock.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer celebrated just a few of the companies that delivered stellar news to their shareholders.
He said General Mills continues to execute on its plans and deliver terrific results, as does
, all of which had great things to say today.
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-- Written by Scott Rutt in Washington, D.C.
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