The STACK Shale Play Is Fueling Stunning Growth for These Oil Stocks

While the Permian Basin has grabbed the attention of oil companies and their investors in recent years, it's not the only spot where drillers can earn lucrative returns at lower oil prices. In fact, some drillers are finding that the STACK shale play in Oklahoma is just as good, if not better, than the vaunted Permian. That's why they spent billions of dollars to scoop up land in the region over the past few years, which is starting to pay big dividends by fueling remarkable production growth.

The STACK is an acronym for Sooner Trend Anadarko Canadian and Kingfisher. It designates the shale formations (the Sooner Trend, which consists of the Meramec and Woodford shale layers) as well as the location of the Anadarko Basin centered in Canadian and Kingfisher counties of Oklahoma. It's one of two hydrocarbon-rich hot spots in the western part of the state along with the SCOOP, or South Central Oklahoma Oil Province.

Image source: Getty Images.

Source: Fool.com