The following video is part of our "Motley Fool Conversations" series, in which consumer-goods editor and analyst Austin Smith discusses topics around the investing world.

In today's edition, Austin talks about Ultra Petroleum as a dirt-cheap natural gas stock investors should take a second look at. Shares have been understandably crushed over the past year as a glut in natural gas production has caused supplies to balloon and prices to drop. But Austin talks about a few big and probable trends that could easily push natural gas prices higher. Should prices recover, he thinks Ultra Petroleum will be one of the first companies to benefit in a meaningful way. Its low-cost production puts it first in line with regard to profitability, and he likes its odds.

As good as Ultra's odds are, though, there is one energy stock that could be even better. In fact, it could be "The Only Energy Stock You'll Ever Need." It's a well-positioned equipment provider that's poised to make investors today rich off the next energy spike. Read more about it.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Ultra Petroleum and Westport Innovations. Motley Fool newsletter services recommend Clean Energy Fuels, Ultra Petroleum, and Westport Innovations. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.