James J. Volker, Whiting Petroleum's President and CEO said: "Our inclusion in the Russell 3000 is the culmination of many years of consistently building our portfolio of proven and producing acreage and reserves. In today's volatile exploration and production industry, we constantly face challenges to increase shareholder value despite the trading vagaries of oil and natural gas prices. I'm proud to say Whiting is one of the best positioned E&P companies in the U.S. to deal with these challenges, with an outstanding asset base, financial structure and technical staff. As a newly public company, we appreciate our shareholders and are pleased to have gained such a prestigious listing in such a short period. We will continue to execute our business strategies to grow our company to realize our full potential."
Inclusion in the Russell Indexes is determined by market capitalization rankings. Russell Indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in funds that rely on Russell's U.S. Indexes. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
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