Tulsa’s Empire Petroleum Corporation says it’s soon going to be trading over the broad-market Russell 3000 Index.
The company, with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico, is set to join the Index at the conclusion of the 2022 Russell indexes annual reconstitution on June 27, 2022. Empire is included on 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.
“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,” said Empire CEO, Tommy Pritchard.
Mike Morrisett, President, added, “This is an excellent milestone for our company, and we look forward to communicating with a broader audience of investors.”