PrimeEnergy Corporation is set to join the Russell
3000(R) Index when Russell Investment Group reconstitutes its family
of U.S. indexes on June 30, according to a preliminary list of
additions posted Friday on www.russell.com.
Membership in the Russell 3000, which remains in place for one
year, means automatic inclusion in the large-cap Russell 1000(R) Index
or small-cap Russell 2000(R) Index as well as the appropriate growth
and style indexes. Russell determines membership for its equity
indexes primarily by objective, market capitalization rankings and
style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. An industry-leading $3.8
trillion in assets currently are benchmarked to them. Investment
managers who oversee these funds purchase shares of member stocks
according to that company's weighting in the particular index.
Annual reconstitution of Russell indexes captures the 3,000
largest U.S. stocks as of the end of May, ranking them by total market
capitalization to create the Russell 3000. The largest 1,000 companies
in the ranking comprise the Russell 1000 while the remaining 2,000
companies become the widely used Russell 2000. These investment tools
originated from Russell's multi-manager investment business in the
early 1980s when the company saw the need for a more objective,
market-driven set of benchmarks in order to evaluate outside
investment managers.
Russell, a global leader in multi-manager investment services,
provides investment products and services in 44 countries. Russell
manages more than $167 billion in assets and advises clients worldwide
representing $2.4 trillion. Founded in 1936, Russell is a subsidiary
of Northwestern Mutual and is headquartered in Tacoma, Wash., with
additional offices in New York, Toronto, London, Paris, Singapore,
Sydney, Auckland and Tokyo. For more information, go to
www.russell.com.
The Company's common stock is traded on the Nasdaq Stock Market
under the symbol PNRG. If you have any questions on this release,
please contact Joan Podlovits at (203) 358-5723.
PrimeEnergy Resources Corporation is an independent oil and natural gas company engaged in acquiring, developing, and producing oil and natural gas. It owns leasehold, mineral and royalty interests in producing and non-producing oil and gas properties across the United States, primarily in Oklahoma, and Texas. It operates approximately 630 active wells and owns non-operating interests and royalties in approximately 800 additional wells. It provides well-servicing support operations, site-preparation and construction services for oil and gas drilling and reworking operations, both in connection with its activities and providing contract services for third parties. It maintains an acreage position of approximately 16,940 gross acres in the Permian Basin of West Texas and eastern New Mexico, which is located in Reagan, Upton, Martin, and Midland counties. In Oklahoma, it is focused on the development of its reserves in Canadian, Grady, Kingfisher, Garfield, Major, and Garvin counties.
PRIMEENERGY RESOURCES CORPORATION 
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