O'Reilly was injured blocking a shot on Dec. 31 vs. Minnesota and was originally scheduled to be re-evaluated in six weeks, which would put him on target for a possible return next week.
"It feels good," O'Reilly said after skating with the team for the first time on Thursday. "I've been able to skate the last three days, so it's nice to have that first skate with the boys, but it's a little unknown… we have to talk to some doctors and stuff on where we sit, but as of now, it's good."
"If I do force it and rush back, that's what they're concerned about is making the injury bigger," he added. "That's why we have to be safe and be cautious as we progress here."
O'Reilly has played in 37 games this season, posting 10 goals and six assists.