This segment is from Thursday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.
The energy bonanza playing out in the North America is similar to being a sports fan in Boston -- great performance is expected and truly remarkable milestones are not as illustrious due to the high frequency with which they occur. In U.S. oil fields, two new milestones are being achieved: oil production is outpacing imports for the first time in nearly two decades and the Bakken shale play is joining the 1 million barrels per day of oil production club.
Continental Resources (NYSE:CLR) was the driving force in the Bakken and has no plans to slow down, as shown by a 51% growth in production this past quarter compared to last year's numbers.
Forward-looking investors searching for companies to continue the oil boom need to focus on Pioneer Natural Resources (NYSE:PXD). Pioneer Natural Resources is the largest player in the biggest oil field in North America, and before the end of the decade the Spraberry Wolfcamp play may be the largest oil find in the world.
Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.