NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said two hot places for growth in the U.S. right now are the Permian basin in Texas and the Eagle Ford shale.
The two companies that have the most exposure to these areas are Pioneer Natural Resources (PXD - Get Report) and EOG Resources (EOG - Get Report).
Due to horizontal drilling and fracking in the Permian basin, many investors are starting to agree with Scott Sheffield, CEO of Pioneer Natural Resources, that the Permian may indeed be the second largest oil field in the world, Cramer said.
"Boy, this is booming!" Cramer exclaimed, in regard to the Permian basin and the Eagle Ford shale.
-- Written by Bret Kenwell in Petoskey, Mich.