But EOG Resources (EOG) has been making noises that its Delaware Basin portion of the Permian could be its third big find after Eagle Ford and Bakken. That means there's much more than currently meets the eye, or the refineries. Cimarex (XEC) has, of late, also been mentioned as one of the best Permian plays with a substantial year-over-year gain. Same goes for Concho Resources (CXO).
It's the Eagle Ford in Texas, however, that's the most impressive field yet. That field produces 600,000 barrels a day, up 58% from just a year ago! Just one company alone, EOG, is producing about one-fourth of that. No wonder that stock has been such a horse.
Others performing well in the Eagle Ford? ConocoPhillips (COP) has got good acreage, as does Murphy Oil (MUR). Do not forget Sanchez Energy (SN), either -- it just put together a bunch of parcels in the Eagle Ford and is doing an 8-million-share offering right now in order to pay for them.
Finally, let's include a natural gas company. Cabot Oil & Gas (COG) is building a pipeline now to take natural gas to heat homes in the nat-gas-starved New England area, replacing foreign oil in a move that will further cut back imports.All of these incredibly important plays seem to mean very little when taken separately. However, together they paint a picture of continental energy independence that could be a dream realized in 2018, which is not that far from now. Further, consider the possibility of nat-gas-fed trucks taking over from diesel, the last bastion of imports, responsible for 25% of oil that comes from overseas. If that happens, it'll be possible to think the U.S. could -- with continued conservation and better mileage cars -- actually be energy-independent as a country. It's no longer a pipe dream. If it were a mission in Washington, it would be a game-changer for jobs, for the balance of trade and for domestic security. It's a reality. It's just that people, including major politicians, aren't talking about it. That's shocking to me, and it should be to you, too. However, If we can't make it a mission, let's at least make money off it by buying shares in EOG, Noble, Sanchez, Continental, Whiting, Cimarex and so many others now that it is indeed happening right before our eyes. At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long OXY.
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