Natural Gas: What You Need to Know

For more natural gas and oil investment ideas from Cramer, read his five-part "Mad Money" series on "wildcat" drillers: Cramer's 'Mad Money Recap': How to Beat High Oil Prices, Cramer's 'Mad Money Recap': Putting Housing Ahead of Inflation, Cramer's 'Mad Money' Recap: Peru Play, Cramer's 'Mad Money' Recap: A Home-Grown Natural Gas Play and Cramer's 'Mad Money' Recap: Next Week's Game Plan.

From Should You Buy It? Forest Oil:

Back on June 30, the [Forest Oil (FST Quote)] disclosed that it had 90,000 net acres of leasehold land in the Haynesville Shale (Texas/Louisiana), with a resource potential of 5 trillion cubic feet (Tcfe) of natural gas equivalent. Forest ended 2007 with proven reserves of just 2 trillion Tcfe of natural gas.

Production is not expected to ramp at the company's Haynesville site until 2009. In the meantime, Forest will drill 10 to 15 new vertical pilot wells in the second half of the year.

The company also plans to drill four horizontal test wells at the Utica shale in Quebec, beginning this month. As a result, Forest Oil is taking advantage of rising natural gas prices and targeting to spend $1.15 billion to $1.25 billion on exploration and drilling in 2008 and generate 15% annual organic production growth over the next couple of years.

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Plus, don't miss Forest Oil Still on Fire on TheStreet.com TV. To watch the video, click the player below:

From How to Play $200 Oil:

Anadarko (APC Quote) is especially prepared for the prospect of $200 oil, both on the natural gas side and on the oil side. It has international exposure, but with oil that high, transportation costs will become an issue for the major oil companies. For U.S. domestic usage, the Gulf of Mexico is a strong local source. Anadarko is drilling deep to develop new fields, and it has the best rig inventory lockups in the Gulf. In both the Miocene and Lower Tertiary Prospects, it is planning on drilling an additional 10 to 15 wells for exploration and appraisal. More oil and gas means more profit.

On land, Anadarko has an equally impressive record.

Read the full article.

Plus, don't miss these Anadarko-focused videos on TheStreet.com TV: Cramer: Why I Love Anadarko (May 6) and Cramer Interviews Anadarko Petroleum CEO (Mar. 25).

Need Natural Gas Exposure? Don't Know Where to Start?

In "How to Outperform the Market and Manage Risk With ETFs," Scott Rothbort writes that you can use an industry-specific exchange-traded fund (ETF) as a "placeholder" as you do the necessary homework on individual stocks. The United States Natural Gas Fund (UNG Quote) is a natural gas-focused ETF.

To stay up to date on natural gas, visit the TheStreet.com's Energy/Commodities section.