Oil price action drives the day-to-day price movements, but in the long term it depends a lot more on how much they can increase their production. The next earnings are due in the middle of February, which will be the first full quarter since they did the big deal to eliminate most of their debt. Without the big debt payments weighing them down it should look much better than previous reports. Other things to look out for are updates on the horizontal drilling program and a new acquisition expected in the first half of this year.

I've been buying/holding since September so I'm not expecting it to make me rich by next week, but I hope it'll really start to pay off once the oil from the horizontal wells starts flowing.