RE:After the deal? Affiliates of Juniper Capital Advisors ("Juniper") own approximately 54% of Ranger's common stock and have entered into a support agreement with Baytex pursuant to which Juniper has agreed to vote all of the Ranger common stock it owns in favour of the transaction.
The market has already assumed that this is a done deal. I would not expect to see any significant change in share price, up or down, on the day when this deal officially closes.
Dilution is only a problem if you issue new shares and do not get any new production in return. That is not the case here. Total shares outstanding is not that important if cash flow per share goes up 20%.
No one here talks about the 3000 boe/d (IP30) well that Ranger recently drilled. It is the top performing Eagle Ford well. It would take at least 4 of BTE's top Peavine Clearwater wells to generate as much cash flow as this new Ranger well generates. Fun times ahead when BTE gets to start adding wells like this to its books.