PrimeEnergy Resources Corporation Joins The Russell 2000 Index
Portfolio Pulse from Happy Mohamed
PrimeEnergy Resources Corporation (NASDAQ:PNRG) has been added to the Russell 2000 Index, effective from June 26, 2023. The company has recently added the first production from 18 wells completed in 2023 and has 7 additional wells in various stages of completion activities with ConocoPhillips Corporation and Apache Corporation. PrimeEnergy has a revolving line of credit of $60 million, which is totally undrawn as of June 30, 2023.
June 30, 2023 | 8:02 pm
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POSITIVE IMPACT
PrimeEnergy's inclusion in the Russell 2000 Index and its ongoing well development activities could potentially boost its stock performance.
Inclusion in the Russell 2000 Index often leads to increased visibility and trading volume for a company's stock. Additionally, PrimeEnergy's ongoing well development activities indicate a strong operational performance, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100