Talk About Bullish! Listen to EOG CEO Mark Papa With Jim Cramer -- Bakken, North Dakota, USA

Link here.

Data points:

• No dry wells in the Bakken! Huge. Only other place in the world with no dry holes: Saudi Arabia
• IPs range from 700 - 1,500; even the lowest IPs would be considered "monster" wells
• EOG values their Bakken acreage at $35,000/acre
• Average price EOG paid for Bakken acreage: $453
• MRO recently paid $21,000/acre (I may have that wrong; I missed it on the broadcast and didn't listen to it again; if I'm wrong, send me a comment, and I will correct it.

But the thing that impressed CEO Mark Papa is that there are NO dry holes in the Bakken. I used to talk about that two years go when I first started this blog. No dry holes.