Dicker: Where's the Next Anadarko?
NEW YORK (TheStreet) -- I was talking with Jim Cramer today about oil stocks, and particularly the nice call I had on Anadarko Petroleum
Anadarko represented a very special case where a legal liability question was overhanging the stock for months. There is nothing else quite on that plane right now in the energy sphere, but that doesn't mean there aren't other values that will require some patience to be unleashed.
One of these stocks is Devon Energy
Another case of unlocked value I mentioned to Jim is SandRidge Energy
Following the lead of several other energy companies (including Devon), SandRidge is looking to spin off midstream assets into a Master Limited Partnership. Investors tend to pay almost twice the multiple for MLPs as they do for energy assets, thus immediately unleashing value into the share price.
CEO James Bennett has said he is looking to spin off SandRidge's frack-water disposal assets, a move that will still need Internal Revenue Service approval, which is pending. But other oil companies have included such assets in their MLPs in the past so I don't see much reason for the IRS not to approve this plan.
I talk more about some longer-term oil plays with Jim in the video above.
At the time of publication the author had positions in APC and DVN. Jim Cramer's charitable trust, Action Alerts PLUS, had a position in APC.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.