I am looking at stocks like CXO, CLR, EPM, FPP, and EXXI. I currently have a small position in CXO, EPM, and EXXI with modest gain. I think CLR might work out but it went up too far too fast for me. Back in 2008, oil price was skyrocketing and there were ton of moneys to be made from oil stocks, such as CLR, PDO, and MXC. (Go to google/yahoo finance and check their price vs oil ETF in 2008 to see how they moved.)
I doubt the oil price will increase as drastically as in 2008, but the bottom line is, if the oil stocks move, the ones with the best growth story will move up the most. In the meantime, XOM was a laggard back then. Maybe things are different this time, but it is just too big of a company to justify a big price movement. It will certainly be a safer bet, but I don't think it will be the best performer in the group.
FYI, most of these companies have earnings release next Thursday so things might be very volatile. Happy trading and good luck guys.