As sector struggles, energy stock shines: Cramer

"This independent oil and gas producer has been on fire," said Cramer.

Although Jim Cramer is always watching the market for outperformance, he found the price action of this stock particularly noteworthy because the rest of the space has been struggling.

"I'm talking about WPX Energy, which used to be the exploration and production division of Williams before it was spun off in 2011," Cramer said. It's up about 16 percent in 1 month while the energy sector is down about 2 percent over the same period.

Source: CNBC

WPX is the largest natural gas producer in Colorado that also has gas assets in Pennsylvania's Appalachian Basin and the San Juan Basin in New Mexico, along with some oil holdings in North Dakota's Williston Basin.

"We're blessed with some pretty great acreage," said Richard Muncrief, the President and CEO of WPX Energy on "Mad Money."

In addition, WPX owns a 69 percent interest in Apco Oil and Gas International, a publicly traded company that holds oil and gas concessions in Argentina and Colombia.

Looking at the price action, part of the recent advance was due to the company's decision to sell its coal bed methane assets in the Powder River Basin for $155 million.

However, Cramer added an equally important catalyst driving the advance has been execution. WPX is leveraging its real estate more effectively and efficiently than most investors thought possible.

"On August 6, WPX reported substantially higher than expected production. Also, it raised the full-year oil production growth forecast from 40 percent up to 55 percent, which is an incredible acceleration," Cramer explained.

And due to new assets, "We feel very confident we can continue that growth profile," Muncrief added.

Given his belief that the abundance of oil and natural gas could transform the fortunes of our nation and make North America energy independent by 2020, Cramer believes companies that leverage the theme stand to prosper over the long-run.

And WPX Energy certainly leverages the theme.

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All told, the "Mad Money" host sees WPX Energy as a good company with a great prospects as a smart bet on an exciting theme. "I can't believe this gem. It deserves to be even higher," Cramer said. "Boy is this company in the sweet spot."

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