Kodiak Gas Services to be Added to Four Russell US Indexes
MONTGOMERY, Texas, Sept. 6, 2023 /PRNewswire/ -- Kodiak Gas Services, Inc. (NYSE: KGS), ("Kodiak" or the "Company"), a leading provider of critical energy infrastructure and contract compression services, today announced that it will be added to the Russell 2000®, Russell 2500®, Russell 3000® and Russell Small Cap Completeness® indexes as part of the Russell Indexes' planned third quarter IPO additions. Kodiak is scheduled to be added to these indexes after equity markets close on September 15, 2023 and is expected to begin trading as a component of these indexes when equity markets open on Monday, September 18, 2023.
Mickey McKee, Kodiak's founder and Chief Executive Officer, stated, "Kodiak's inclusion in these Russell indexes marks another meaningful milestone following our successful IPO earlier this summer and will significantly broaden our visibility among the investment community. We are excited to further expand our shareholder base to include a greater number of passive and active ETFs and institutions."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. The Russell 2000® Index measures the performance of the small-cap segment of U.S. equity market and is a subset of the Russell 2500® and 3000® indexes.
More About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com
More About Kodiak Gas Services, Inc.
Kodiak Gas Services, Inc. is the third largest contract compression services provider in the continental United States with a revenue generating fleet of over 3.17 million horsepower. The company focuses on providing contract compression services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi–well gas lift applications and natural gas transmission systems. More information is available at www.kodiakgas.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Although we believe that we have a reasonable basis for the forward-looking statements contained herein, they are based on current expectations about future events affecting Kodiak and the Russel Indexes and are subject to risks, uncertainties and factors relating to its operations and business environment and the Russell Indexes, all of which are difficult to predict and many of which are beyond its control.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements and such other factors as discussed throughout the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our final prospectus filed with the U.S Securities and Exchange Commission (the "SEC") on June 30, 2023 pursuant to Rule 424(b)(4) and throughout Part I, Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of such prospectus and Part II, Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023.
Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. Except as may be required by applicable law, we undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.
Kodiak Gas Services, Inc.
Graham Sones, VP of Investor Relations
Dennard Lascar Investor Relations
Ken Dennard / Rick Black
SOURCE Kodiak Gas Services, Inc.
Released September 6, 2023