Jim Cramer's Mad Dash: Here's the Next Energy Boom

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) and EOG Resources (EOG).

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. 

He added that Encana (ECA) has agreed to purchase $3.1 billion worth of property in the Eagle Ford shale from Freeport-McMoRan (FCX), showing that there is still growth in the area. 

"Boy, this is booming!" Cramer exclaimed, in regard to the Permian basin and the Eagle Ford shale.

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

If you liked this article you might like

Best Gains for Pioneer Natural Resources May Have Been Seen

Best Gains for Pioneer Natural Resources May Have Been Seen

Live From NAPE: Oil and Gas Drillers Excited About $60 Oil

Live From NAPE: Oil and Gas Drillers Excited About $60 Oil

3 Game-Changing Areas Where Warren Buffett Should Spend Berkshire's Tax Windfall

3 Game-Changing Areas Where Warren Buffett Should Spend Berkshire's Tax Windfall

Market's Animal Spirits Roar: Cramer's 'Mad Money' Recap (Thursday 1/11/18)

Market's Animal Spirits Roar: Cramer's 'Mad Money' Recap (Thursday 1/11/18)

Cramer: This Market Is Making Strange Bedfellows

Cramer: This Market Is Making Strange Bedfellows