Noble purchasing Clayton Williams for $2.7 billion is an excellent, strategic move to gain more exposure to the Permian, Cramer said. Shares of Clayton Williams Energy are up 36% Tuesday after it was announced on Monday that Noble Energy would purchase the company for $2.7 billion in cash and stock.
Category: Noble Energy
Cramer: Rising Deal Tide in the Permian Lifts Oil Boats
Yes, the Permian buys continue to move the needle. It looked like Noble Energy would be hammered when it paid a gigantic premium for Clayton Williams over the weekend; the latter stock is up 37%, but more important, perhaps, is that the stock was at $7 a little less than a year ago and now it is at $143.