THE WOODLANDS, Texas,
June 8, 2021 /PRNewswire/
-- TETRA Technologies, Inc. ("TETRA" or the "Company")
(NYSE:TTI) is set to join the broad-market Russell
3000® Index at the conclusion of the
2021 Russell indexes annual reconstitution, effective after the US
market opens on June 28, 2021
according to a preliminary list of additions made public on
June 4, 2021.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, 2021 ranking
them by total market capitalization. Membership in the US
all-cap Russell 3000® Index, which remains in place for
one year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell
2000® Index as well as the appropriate
growth and value style indexes. FTSE Russell determines membership
for its Russell indexes primarily by objective,
market-capitalization rankings, and style attributes.
TETRA President and CEO Brady
Murphy, said, "TETRA has the opportunity to be included in
the Russell index as a result of the significant increase in our
market capitalization this year and our continued efforts to build
shareholder value. We believe inclusion in the Russell index
provides us with the opportunity to expand our shareholder base as
we are well positioned for a recovering oil & gas market and
for the accelerating low carbon energy markets of carbon capture,
energy storage and lithium production."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE
Russell, a leading global index provider.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
About TETRA Technologies, Inc.
TETRA Technologies, Inc. is a geographically diversified oil and
gas services company, focused on completion fluids and associated
products and services, comprehensive water management, frac
flowback and production well testing. We operate through two
reporting segments organized into - Completion Fluids &
Products and Water & Flowback Services. In January 2021, we announced our commitment to
pursue low carbon energy initiatives that would leverage our fluids
and aqueous chemistry core competencies, our significant bromine
and lithium resources and technologies, and our leading calcium
chloride production capabilities. We continue to pursue a
long-term growth strategy that includes expanding our core
businesses, domestically and internationally, through the
introduction of new technology, organic growth and accretive
acquisitions.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$17.9 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create ETFs, structured products and index-based
derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit
www.ftserussell.com.
Cautionary Statements Regarding Forward-Looking
Statements
This release contains "forward-looking statements" within the
meaning of the federal securities laws, including Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act
of 1934, as amended. In this context, forward-looking statements
often address expected future business and financial performance
and financial condition, and often contain words such as "expect,"
"anticipate," "intend," "plan," "believe," "seek," "see," "will,"
"would," "target," similar expressions and variations or negatives
of these words. Forward-looking statements by their nature address
matters that involve risks and uncertainties, many of which are
beyond the control of TETRA, and are not guarantees of future
results, such as our expected inclusion in the Russell
3000 indexes and the effect of such inclusion. These
forward-looking statements are not guarantees of future results and
are subject to risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed in
any forward-looking statements. Accordingly, there are or will be
important factors that could cause actual results to differ
materially from those indicated in such statements and, therefore,
you should not place undue reliance on any such statements and
caution must be exercised in relying on forward-looking statements.
Factors that could cause actual results to differ include, but are
not limited to, those risks and uncertainties associated with: the
impact of the COVID-19 pandemic on TETRA's business, operations,
strategy and goals; TETRA's ability to execute on our strategy; the
timing of the introduction of new product offerings; and the
additional risks and uncertainties set forth more fully under the
caption "Risk Factors" in TETRA's Annual Report on Form 10-K for
the year ended December 31, 2020, as filed with the SEC, and
elsewhere in TETRA's filings and reports with the SEC.
Forward-looking statements contained in this announcement are made
as of the date hereof, and TETRA undertakes no duty to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/tetra-technologies-inc-set-to-join-russell-3000-index-301307687.html
SOURCE TETRA Technologies, Inc.