Empire Petroleum Corporation to Be Added to Russell 3000® and Russell 2000® Indexes
June 07 2022 - 8:00AM
Business Wire
Empire Petroleum Corporation (NYSE American: EP) (“Empire” or
the “Company”), an oil and gas company with current producing
assets in Texas, Louisiana, North Dakota, Montana and New Mexico,
is set to join the broad-market Russell 3000® Index at the
conclusion of the 2022 Russell indexes annual reconstitution on
June 27, 2022 according to the preliminary list of additions posted
by FTSE Russell on June 3, 2022.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks, ranking them by total market capitalization. Russell
indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies. Approximately $12 trillion in assets are benchmarked
against Russell’s US indexes.
Empire CEO, Tommy Pritchard, said, “We are excited to be joining
the Russell 3000 Index and increasing our exposure to the
investment community, particularly following our strong first
quarter and recent up-listing to the NYSE American.” Mike
Morrisett, President, added, “This is an excellent milestone for
our Company, and we look forward to communicating with a broader
audience of investors.”
Russell indexes are part of FTSE Russell, a leading global index
provider. 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.
About Empire Petroleum
Empire Petroleum Corporation is a publicly traded, Tulsa-based
oil and gas company with current producing assets in Texas,
Louisiana, North Dakota, Montana and New Mexico. Management is
focused on internal growth through optimization of existing assets
and targeted acquisitions of proved developed assets with synergies
with its existing portfolio of wells. More information about Empire
can be found at www.empirepetrocorp.com.
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 $20
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 the London Stock Exchange Group.
For more information, visit www.ftserussell.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220607005574/en/
Empire Petroleum Corporation: Tommy Pritchard, CEO Mike
Morrisett, President 539-444-8002 Info@EmpirePetrocorp.com
Investor Relations: Stephanie Prince PCG Advisory Ph: (646)
863-6341
Empire Petroleum (AMEX:EP)
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