MIDLAND, Texas, June 26, 2018 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today announced that it was added as a member of the U.S. small-cap Russell 2000® Index and the U.S. broad-market Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective after market close on June 22, 2018. Dawson Geophysical also will be automatically added to the appropriate growth and value indexes, and will remain in the Russell Microcap Index.
The annual reconstitution of the Russell indexes captures the largest U.S. stocks at the end of May, ranking them by total market capitalization. The Russell 2000® Index measures performance of the small-cap segment of the U.S. equity market and membership in the index remains in place for at least one year. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"We are pleased to be added to both the Russell 2000® and Russell 3000® Indexes; two of the most widely-followed benchmarks for small-cap and broader market growth companies," said Stephen C. Jumper, Chairman, CEO and President of the Company. "The added visibility that comes with inclusion in each of these indexes will help generate increased awareness among leading portfolio managers and analysts for Dawson's seismic services as well as provide added liquidity and value for our shareholders."
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes. Russell U.S. Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® Index, the Russell 3000® Index and the Russell U.S. Indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
Dawson Geophysical Company is a leading provider of North America onshore seismic data acquisition services with operations throughout the continental United States and Canada. Dawson acquires and processes 2-D, 3-D and multi-component seismic data solely for its clients, ranging from major oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may materially affect the Company's actual results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors. These risks include, but are not limited to, dependence upon energy industry spending; the volatility of oil and natural gas prices; changes in economic conditions; the potential for contract delays; reductions or cancellations of service contracts; limited number of customers; credit risk related to our customers; reduced utilization; high fixed costs of operations and high capital requirements; operational disruptions; industry competition; external factors affecting the Company's crews such as weather interruptions and inability to obtain land access rights of way; whether the Company enters into turnkey or day rate contracts; crew productivity; the availability of capital resources; and disruptions in the global economy. A discussion of these and other factors, including risks and uncertainties, is set forth in the Company's Annual Report on Form 10-K that was filed with the U.S. Securities and Exchange Commission on March 9, 2018. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Dawson Geophysical Company