The Mad Money host believes that new energy discoveries present huge opportunities. But you have to know where to play.
However, there's another shale play that Cramer wants you to know about. It's called the Niobrara formation.
"The thing is, the Niobrara shale has a bit of a spotty history. EOG Resources found it about three or four years ago, they started drilling, and then they gave up on it. At the time, EOG thought they had more upside in the Eagle Ford, and their Niobrara acreage was not so hot," Cramer explained.
Even though EOG gave up on the Niobrara, Cramer isn't about to.
"Some areas are practically bursting with oil," Cramer said. However, others have very little, which means if you're going to invest here, you need to find companies with the right acreage."
Here are the stocks that Cramer thinks warrant attention:
"Anadarko is a giant company with diverse assets across the globe, but the Niobrara shale is large enough to be a needle mover for them, as management has said it's their biggest domestic play right now," Cramer explained. The company has 350 thousand acres in the oil-rich core of the Niobrara, with as much as 1.5 billion barrels of resource potential, and they own another 350 thousand acres in the more remote areas of the shale."
Noble Energy has 640,000 thousand acres in the Niobrara shale. "Noble is rapidly accelerating its development program here—the company's drilling 50% more wells this year than in 2012, and they plan to be putting up 500 wells per year in the Niobrara by 2016. All told, Noble's presence in the Niobrara may be worth $13.8 billion, which is pretty huge when you consider that the company has an enterprise value of just $20 billion," Cramer said.
Read More from Mad Money with Jim Cramer
Biggest Blockbuster drug in ages?
Growth 'as far as the eye can see': Cramer
Homework stock gains 300% since May
PDC Energy is a smaller company that Cramer considers more of a pure play on the Niobrara. "The core of the company is 98,000 acres in the Niobrara shale," Cramer said. However, Cramer added, "PDC is only for speculation, as its cash flow doesn't quite cover its capital expenditures and you might get hit with a capital raise that could ding the stock."
Bonanza Creek Energy
" has 30,800 acres, mostly in the oilier portion of the Niobrara," Cramer said. "In the second quarter, Bonanza upped their rig count to four rigs and drilled 20 wells, up from the seven they drilled in the previous quarter. Management here expects to see a significant boost in production in the second half."
Bill Barrett Corporation
"Bill Barrett is an exploration and production company focused on the Rockies, with 40,000 acres in the hottest part of the Niobrara," Cramer said. "BBG is on the small side, and a lot of people still question their acreage, but they've already had 16 strong well results, and the company plans to drill another 60 wells by the end of the year, up from just 13 wells in the first half."
Whiting controls 88,000 acres in the Niobrara. "In the past, Whiting didn't have the capital to really exploit this area, but the company recently sold a field for $860 million, and now they have the cash to really develop their Niobrara assets, which could turn out to be Whiting's next major growth platform," Cramer said.
Carrizo Oil & Gas
Carrizo Oil & Gas has 28,000 net acres in the Niobrara. "That's on top of their core Eagle Ford shale holdings and a Utica shale kicker. Carrizo's got 2 rigs running and they plan to drill 21 wells in the Niobrara for 2013—this is definitely one to watch," Cramer said.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? email@example.com
Questions, comments, suggestions for the "Mad Money" website? firstname.lastname@example.org