RE:wow borrow more sell more stock to keep dividends FlowingAgreed. It's generally a well-run company, and it looks like a remarkably good fit in terms of the asset overlap, and the price paid for the assets looks good, but I cannot get my head around that part of it (issuing equity at a hugely discounted value while paying those massive dividends).
https://twitter.com/petroquestions/status/1699755204454011331?s=20
I wasn't expecting it to achieve a premium valuation anytime soon, but my thinking is that part of the deal will make it hard for anyone to get comfortable viewing this as an excellent company with astute management and board. It's an A minus or B, which is frustrating, because they did everything else right (maintained low costs and remained patient).