Hmmm. Yeah, I've seen the reports about the Mississippian. SD needs to double it's 2013 production by 2016 just to keep it's head above water in regards to debt service.
One wild card here... They've downplayed Nat Gas, which they have plenty of, and that market is finally turning. These energy markets always tend to overshoot in both directions. I've seen where there is some doubt that Nat Gas inventories can be restored to necesary levels by the beginning of the next heating season.
Some I.V. came back into the options the last two days. As long as I can hedge risk effectively, I'm sticking with SD for a while. If production growth for 2014 falls short of predictions, then I may re-think that. If volatility comes back, I could be in with free (or nearly) shares by the end of 2014. If it begins to look like SD can't drill it's way out of debt, I can start leaning delta toward a bearish bias and make money that way as well.