Cramer’s Oil and Gas Play

Tuesday, 12 Jul 2011 | 6:46 PM ET
Cramer Eyes Carizzo Oil & Gas
Carrizo is a growth oil and gas name that's drilling in some of the hottest places out there, says Mad Money host Jim Cramer, and Chip Johnson, Carrizo Oil & Gas president & CEO, weighs in.

Just because the price of oil has come down, doesn’t mean home gamers should walk away from the oil and gas boom here in the US, Cramer said Tuesday.

One company on Cramer’s radar is Carrizo Oil and Gas, a growth name that’s drilling in some of the hottest places. Major companies are spending big bucks to stake a claim in the same shales Carrizo is in, Cramer said. That’s why he thinks Carrizo is “way too cheap.”

(Slideshow—Cramer: Buy This, Not That)

Plus, the company is forecasting 63 percent production growth next year and sells for just 8.5 times forward earnings.

To find out more about this oil and gas name, Cramer spoke with CEO Chip Johnson. To see the full interview, watch the video.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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