OKLAHOMA CITY, July 02, 2019 (GLOBE NEWSWIRE) -- Chaparral Energy, Inc. (CHAP) announced today the company was added to the Russell 3000® Index on July 1 as part of the 2019 Russell U.S. Indexes reconstitution.
“Chaparral is pleased to be included in the Russell 3000® Index,” said Chaparral Chief Executive Officer Earl Reynolds. “Our commitment to the strategic, low-cost development of our high-return STACK assets and consistent operational execution has enabled Chaparral to be in the position to be added to the index. We are now eligible for investment in a large number of index funds, which will broaden our exposure to an extended range of investors.”
Annual reconstitution of the Russell U.S. Indexes captures the 4,000 largest U.S. stocks as of May 10, ranking them by total market capitalization. Membership in the 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 U.S. Indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell U.S. Indexes are widely used by investment managers and institutional investors for passive funds and investment products, and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes. Russell U.S. Indexes are part of FTSE Russell’s suite of index offerings. For more information on the Russell 3000® Index and the Russell U.S. Indexes reconstitution, visit the “Russell Reconstitution” section of the FTSE Russell website.
Chaparral Energy (CHAP) is an independent oil and natural gas exploration and production company headquartered in Oklahoma City. Founded in 1988, Chaparral is a pure-play operator focused in Oklahoma’s highly economic STACK/Merge Play, where it has approximately 132,000 net acres primarily in Kingfisher, Canadian and Garfield counties. The company has approximately 225,000 net surface acres in the Mid-Continent region. For more information, visit chaparralenergy.com.