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Membership to expose Erin Energy to a broader investor base

Erin Energy added to Russell Indexes

US, July 1, 2015

US-based Erin Energy said it has been added as a member of the broad-market Russell 3000 Index following the 2015 Russell indexes reconstitution.

Erin Energy is an independent oil and gas exploration and production company with a focus on finding and producing oil in sub-Saharan Africa.

Russell indexes are part of FTSE Russell, a leading global index provider, and are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalisation, said a statement from Erin Energy.

Additionally, membership in the Russell 3000, 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-capitalisation rankings and style attributes, it said.

Chris Hearne, senior vice president and chief financial officer of Erin Energy, said: “We are pleased to note our addition to the prestigious Russell Indexes and expect an enhanced profile and awareness for our company among a broader investor base.” – TradeArabia News Service




Tags: | Erin Energy | Russell 3000 Index |

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