Cramer Interviews GlobalSantaFe

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By Douglas A. McIntyre Published

Cramer said on MAD MONEY that oil service names are acting horribly and acting like oil is heading much much lower.

He interviewed Global SantaFe (GSF), and the CEO said this is unusual, particularly since they are sitting on $11 Billion in backlog and that is close to their market cap.  This level of backlog is higher than any others, but no one is exiting contracts or indicating they intend to exit contracts.  This is still a very profitable level for oil companies and nowhere close to the threshold where they can’t make lots of money.  They try to reinvest in the business with all the cash they have accumulated and that they bring in, but what they can’t then they will return to shareholders via buybacks and dividends and if that doesn’t do it they will look for other wars.

Cramer said he also likes Transocean (RIG) (he owns it) as worth more than it is selling for, but he says you have to be Very selective in the sector.

Jon C. Ogg
January 17, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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