Diamondback Energy Inc. and Baker Hughes Co. have both been added to the Nasdaq-100 Index, effective prior to Dec. 19’s market open.
Baker Hughes is the first energy technology company to be added to the Nasdaq-100, announcing the inclusion in a press release on Dec. 12. In late 2021, Baker Hughes transferred its stock exchange listing to Nasdaq.
“This recognition is testament to the significant progress Baker Hughes has made and continues to make along our strategic roadmap — taking energy forward as we transform our core operations, invest for growth in new energy and industrial sectors, and consistently deliver strong returns for our shareholders,” Baker Hughes chairman and CEO Lorenzo Simonelli said in the release.
Diamondback is the first energy E&P company to be added, the company announced in a separate Dec. 12 press statement. Established in 2007, it is an independent oil and natural gas company with operations in onshore oil and natural gas reserves in the Permian Basin and has been trading on the Nasdaq Global Select Market since 2012.
“To achieve this honor in just over ten years as a public company is a testament to our employees and their commitment to building this company into the significant Texas-based oil producer we are today,” Diamondback chairman and CEO Travis Stice commented.
Updated annually, the Nasdaq-100 Index consists of 100 of the largest domestic and international non-financial companies on the Nasdaq based on market capitalization.
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