Noble Corporation (NYSE: NE - News) has been named to the broad-market Russell 3000® by the Russell Investment Group. The Russell 3000 serves as the U.S. component to the Russell Global Index, launched earlier this year.
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 $4 trillion in assets currently are benchmarked to them. Membership, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® as well as the appropriate growth and value style indexes.
"Many investors and institutions rely on the Russell 3000 index as part of their investment strategy," said Lee M. Ahlstrom, Vice President, Investor Relations and Planning, Noble Drilling Services Inc. "Noble's inclusion acknowledges our strong business fundamentals and future potential."
Russell's U.S. indexes annually capture the 4,000 largest U.S. stocks, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the 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.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Noble Corporation is a leading provider of diversified services for the oil and gas industry. The Company performs contract drilling services with its fleet of 62 mobile offshore drilling units located in key markets worldwide, including the U.S. Gulf of Mexico, Middle East, Mexico, the North Sea, Brazil, West Africa and India. The fleet count includes six rigs under construction. The Company's ordinary shares are traded on the New York Stock Exchange under the symbol "NE".
Additional information on Noble Corporation is available via the worldwide web at http://www.noblecorp.com.
This news release may contain "forward-looking statements" about the business, financial performance and prospects of the Company. Statements about the Company's or management's plans, intentions, expectations, beliefs, estimates, predictions, or similar expressions for the future are forward-looking statements. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties, is set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission.
Source: Noble Corporation
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