Cramer’s Oil and Gas Play
EOG Resources may be the single best way to play the huge oil discoveries we’ve made in the U.S., Cramer said Wednesday.
This Cramer fave is the top producer in both the Bakken shale and the Eagle Ford shale, and also has exposure to other hot oil properties.
EOG saw its shares soar Wednesday after reporting its earnings Tuesday after the bell. The Houston-based company, which is shifting from an emphasis on nat gas toward higher-priced oil and nat gas liquids, delivered a 7 cent earnings beat off a 76 cent basis on much better than expected revenues that rose 82.4 percent year-over-year.
“You’ve got the incredible growth here,” he said, “and the balance sheet remains pristine.”
To find out more about the quarter and what’s to come, Cramer spoke with EOG Resources’ Chairman and CEO Mark Papa. Watch the video to see the full interview.
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