Oil is gushing out of the Permian Basin, located in West Texas.
CES Energy Solutions CEU, an oil chemical company, is capitalizing on the growth, working with a host of major oil companies such as EOG Resources (EOG) .
Plus, Chevron's (CVX) recently announced move to spend $4 billion to expand its operations in the Permian, offers an opportunity for CES Energy Solutions, according to its CEO Tom Simons.
Simons also said his business was not materially impacted by Hurricane Harvey.
West Texas Intermediate is down 8.7% since the start of the year. Shares of CES Energy Solutions are down some 12% since the beginning of 2017.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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