Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Hi-Crush Partners' (NYSE:HCLP) -- a producer, transporter, and distributor of sand used in fracking -- unit price is surging 10% higher Tuesday after announcing its fourth-quarter results along with shares of other oil companies thanks to the price of oil climbing 7% higher today.

HCLP Chart
HCLP data by YCharts

So what: Despite a relatively strong quarter, Hi-Crush Partners reported fourth-quarter earnings per unit of $0.85, which was $0.05 worse than the consensus estimate. Though, Hi-Crush Partners crushed revenue estimates of $108.9 million with its $130.9 million in the fourth quarter -- an impressive year-over-year gain of 104%.

Co-CEO of Hi-Crush Partners James M. Whipkey was sure to note the positive results in the earnings press release,

2014 was an exceptional year for Hi-Crush... We nearly doubled our produced volumes. We further reduced our already low production cost per ton, and we increased our distributable cash flow by over 60%. All of these factors allowed Hi-Crush to increase its distribution by more than 32% during the year, placing us near the top of the entire MLP universe in this parameter. 

Now what: Furthermore, the company noted that 88% of its 2015 production is committed under long term take-or-pay contracts. That should relieve some investors as market volatility and oil-price swings will continue in 2015. It seems Hi-Crush Partners' has a bright future, at least in the short-term, with a distribution coverage ratio of 1.31 times, but investors who are looking to buy units should note that if oil prices trend lower, the company's shares are sure to follow.