Jim Cramer thinks Emerald Oil could be the next big energy play

|About: Emerald Oil, Inc. (EOX)|By:, SA News Editor

Emerald Oil (EOX +0.6%) is endorsed by Jim Cramer, who says the speculative company is not for the faint of heart but growth prospects are "phenomenal" and oil production should double from 2013 to 2014 (also).

EOX has just two rigs now in operation in the Williston Basin, but CEO McAndrew Rudisill expects to add another rig in April and another before the end of 2014; new technology also is allowing EOX to increase the size of wells currently in production.

EOX transports all its oil out of the region via trucks, but Rudisill says a new pipeline will be installed in Q1 2014 and allow ~$1/bbl in savings.