** Oil and natgas producer Ring Energy REI.A shares down 16.9% post-market to $1.48 after kicking off follow-on offering

** The Woodlands, Texas-based firm commences $60 mln stock offering

** Co intends to use net offering proceeds to repay debt under credit facility, remainder for general corp purposes

** Mizuho, BofA and Raymond James joint bookrunners

** REI shares rose 7.9% to finish at $1.78 on Tues. Stock has risen 32% over the past month, putting it up ~105% YTD

** Co has ~209.4 mln shares outstanding