Mar 8, 2018   SOURCE: BusinessWire

Tortoise Announces Index Updates for First Quarter 2018 and an Index Constituent Change Due to Merger and Acquisition Activity

Tortoise today announced upcoming deletions to its Tortoise North American Oil & Gas Producers IndexSM as part of its regular quarterly rebalancing for the first quarter of 2018. Following the close of trading on March 16, 2018, the index will be rebalanced and as a result, the following changes will become effective.

 

Tortoise North American Oil & Gas Producers IndexSM

(TNEP/TNEPT)

Action       Company       Ticker
Deletion       Advantage Oil and Gas Ltd       AAV CN
Deletion       Birchcliff Energy Ltd.       BIR CN
           

The full TNEP constituent list can be viewed at http://tortoiseadvisors.com/tnep/constituents/.

There were no first quarter rebalancing updates to report for Tortoise MLP Index® (TMLP/TMLPT), Tortoise North American Pipeline IndexSM (TNAP/TNAPT) or Tortoise Water IndexSM (TBLUE/TBLUET).

TBLUE Constituent Change

Tortoise also announced that Calgon Carbon Corp. (NYSE: CCC) will be removed from the Tortoise Water IndexSM (TBLUE), as it will cease trading on the NYSE following the completion of the proposed merger with Kuraray Co. Ltd, which is expected to be completed on March 31, 2018. The rebalancing of TBLUE constituents will occur after the close of business on the day of completion.

About Tortoise

Tortoise specializes in essential assets and income. Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise’s actively researched indices fill a void in the essential asset universe and provide a platform for passively managed exchange-traded products. Through a variety of investment vehicles, Tortoise provides a wide range of client solutions, focused on their evolving needs. For more information, please visit www.tortoiseadvisors.com.

About Tortoise MLP Index®

The Tortoise MLP Index is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.

About Tortoise North American Pipeline IndexSM

The Tortoise North American Pipeline Index is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).

About Tortoise North American Oil & Gas Producers IndexSM

The Tortoise North American Oil & Gas Producers Index is a float-adjusted, capitalization weighted index of North American energy companies primarily engaged in the production of crude oil, condensate, natural gas or natural gas liquids (NGLs). The index includes exploration and production companies structured as corporations, limited liability companies, and master limited partnerships, but excludes United States royalty trusts.

About Tortoise Water IndexSM

The Tortoise Water Index is a float-adjusted, modified market capitalization-weighted index comprised of companies that are materially engaged in the water infrastructure or water management industries. Water infrastructure companies’ principal business is providing public water distribution or supporting water distribution infrastructure via equipment or engineering and construction. Water management companies’ primary business is providing technologies or products that manage or facilitate water distribution and usage, including the fields of water efficiency, water treatment and irrigation.

The Tortoise indices are the exclusive property of Tortoise Index Solutions, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM, Tortoise North American Oil and Gas Producers IndexSM, and the Tortoise Water IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omission in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Tortoise Index Solutions, LLC and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).

No portion of this publication may be reproduced in any format or by any means including electronically or mechanically, by photocopying, or by any other form or manner whatsoever, without the prior written consent of Tortoise Index Solutions, LLC.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.