NEW YORK ( TheStreet) -- Lindsey Bell: Last night, Jim had Core Labs (CLB) on Mad Money, and the big news here is there is not only one, but two, undiscovered big shales here in the U.S. How big are we talking?
Jim Cramer: OK. You know, sometimes you get an interview and you realize that the takeaways are so huge that it's kind of mind-blowing. David Demshur is a very conservative man, he's the CEO. He came on and he point-blank said, "Eagle Ford, Bakken are huge shales, and there is definitely one other out there, maybe two." Now, how big are these? Mark Papa, the CEO of EOG Resources (EOG), has said that Eagle Ford is a Saudi Arabian-like field. That means everywhere you put a drill bit, you find stuff. Bakken has already been considered to be as big as Prudhoe Bay, the 1960s find that was the largest find in 50 years. Bakken is not as big as Eagle Ford, but they're both gigantic. The fact that there's a third could mean that we won't even have to import oil to North America in 2015.
Lindsey Bell: Wow. That soon.
Jim Cramer: Yes. Much quicker than people realize. It's possible, if there are two finds, that the continental United States itself, not just the North American continent, could be energy self-sufficient by, say, 2017, 2018. This is remarkable. Now, why should Core Labs know? Lindsey, they are the guys who map out the reservoirs. So there isn't anyone in better shape to know.At the same time, benefiting Core Labs is Mexico, which is really beginning to drill very aggressively after multiple years where they weren't. They all have money because they're deregulating PEMEX. It actually costs money to buy gasoline now in Mexico. I think more important for Core Labs is Iraq. Now, we always heard that Iraq had the possibility of producing 10 million barrels. That was in 2002. The drilling in Iraq, it looks like it belongs to Core Labs. I thought Schlumberger (SLB) would be bigger. Schlumberger does compete with them in some ways, but this is a big story for Core Labs. The stock is not up enough, and it's a huge story for America if we really do have those two finds.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV