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Cramer’s great growth energy play

If there's one thing that Jim Cramer likes, it's growth.

And it appears Continental Resources is growing like a weed.

According to published reports, Continental Resources was able to grow its production to 49.6 million barrels last year. "That's a production increase of 35% year over year," Cramer noted.

That's impressive.




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In fact, Cramer calls Continental Resources the poster-child for the domestic oil explosion. That's because it's the number one leaseholder in the Bakken shale, perhaps the largest domestic oil find since Prudhoe Bay in the 1960s.

Cramer believes the opportunity could generate sizable growth and sizable profits, not only now but for quite some time to come.

Continental CEO Harold Hamm appears to confirm Cramer's bullish outlook.

Two years ago, "In the Bakken, we felt 50,000 wells were what was needed. Now that number has doubled," Hamm said during an interview on "Mad Money," suggesting the resources are that much more vast.

And those estimates could easily go higher. According to reports, the company remains on pace to triple its oil production from its 2012 levels by year 2017.

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This stock leverages a theme that Cramer has advocated for quite some time. That is, the energy renaissance underway in North America could lead to long-term prosperity because new technology has made it possible to harvest vast amounts of oil and gas from fields that were inaccessible just a few short years ago.

All told, Cramer sees every reason for the trend to endure and the stock of Continental Resources to rally.

"Growth stocks go higher and Continental is a great growth stock," Cramer said.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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