If only the Houston Texans football team could have quarters this awesome.

Discussing the oil company's blowout quarter, and the best way to play the huge oil discoveries in the U.S., with Mark Papa, EOG Resources chairman/CEO, and CNBC's Mad Money's Jim Cramer. 

Papa said that "we are 110% focused on our liquids growth and we don't have a great interest in the gas growth side."

Cramer then offered that it is possible that "oil alone is worth the price of the company."  Papa seemed to generally agree with that assessment as well as a possible valuation of the company north of $24B based just on the Eagle Ford Formation. According to Papa, "it's easily the highest rate of return oil and gas asset that anyone has in North America bar none--either onshore or offshore."

Cramer asked about the 3,000 barrels per day per well (some, not all) coming out of Eagle Ford in the context of others.  Papa indicated that pretty much any other oil play in N. America, a good well starts out at about 1,000 barrels per day per well, so production at Eagle Ford is really powerful economics.  Papa said "I haven't seen any wells that pack this much punch anywhere."

Another take home message from this interview is that "Eagle Ford is the Largest Net Find Since Prudhoe Bay."

Last, about fracking concerns, Papa did not feel that there is any evidence to stop this "wonderful gift given to the U.S. in terms of additional gas and additional oil."



Video Interview on CNBC's Website