VAALCO Energy Set to Join Russell 3000® Index

Source: www.gulfoilandgas.com 6/14/2022, Location: North America

According to a preliminary list of additions issued by FTSE Russell on June 3, 2022, VAALCO Energy Inc. will join the broad-market Russell 3000® Index at the completion of the 2022 Russell Indexes Annual Reconstitution. After the U.S. market opens on June 27, 2022, the inclusion in the index will take effect.

The annual reconstitution of the Russell indexes captures the 4,000 largest U.S. stocks as of May 6, 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 in the 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.

George Maxwell, VAALCO’s Chief Executive Officer, commented, "We continue to accretively grow VAALCO and we welcome the enhanced visibility and distribution provided by our inclusion in the Russell 3000® Index as a way to broaden VAALCO’s awareness within the institutional Investor community. VAALCO is poised for continued success in this strong commodity price environment, with no debt and strong free cash flow generation and we remain firmly focused on maximizing shareholder returns. We are excited to join the Russell 3000® Index and believe that it is another significant milestone for VAALCO in 2022."

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 U.S. 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, www.ftserussell.com.


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