I agree the OAs were at risk, with the timing of the reserves...

I agree the OAs were at risk, with the timing of the reserves report needing everything to run like clockwork to meet the timetable. But why not just push out the As date (if possible). In which case there is no need for the capital raise.
Although it is great to negotiate from a position of strength, the real start point is reserves and if they have them that is strength at all tables. (capital raising, debt finance, pipeline, GSA, farm out)
The only reason that makes sense to me is a lack of confidence in the reserves outcome, the skeptic in me is running at full alert on this move. If reserves disappoint the house of cards built on the expectation falls, RLE would be back at tweaking stimulation to achieve economic flow rates again, and for that they need cash in the bank