This New Oil Patch Might Have Just Become One of the Best in America

By Tyler Crowe – Apr 21, 2014 at 11:32AM

NYSE: HK

Halcon Resources

Goodrich Petroleum's recent discovery in the Tuscaloosa Marine Shale just proved that there is lots of oil there, and some of its qualities could make it one of the premier plays in North America.

The Tuscaloosa Marine Shale isn't exactly a name that has been associated with America's shale boom like the Bakken or the Eagle Ford, but Goodrich Petroleum's (NYSE: GDP) recent discovery there proved it to be very economical. Goodrich's recent well results were so good that it's even had a major effect on the stock price of Halcon Resources (HK) and the only thing they have in common is that they have abutting acreage in this shale formation.

While the geology of the region has been challenging for drillers so far, the Tuscaloosa Marine Shale has one distinct advantage over the almost all other shale formations in the U.S.: its location. In the video below, find out why the Tuscaloosa Marine Shale's location in Louisiana and Mississippi could make it one of the belles of America's oil ball.

Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool.

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