A drilling rig operated by Doyon Remote Facilities & Services, a subsidiary of Doyon Ltd., an Alaska Native regional corporation. Photo from Doyon Ltd
Columnist Tim Bradner says Alaska Native corporations represent a bright spot in the state's economy as they expand their oil and gas operations:
There's plenty to be in the dumps about these days: Uncertainty in Juneau on the state's financial problem — depletion of state cash reserves, low oil prices and industry layoffs. But here's some news that should buck up your spirits, as it did mine. Alaska's Native corporations, which are financially strong and stable, are investing and keeping Alaskans employed. Take oil and gas, for example, one industry that is troubled. Two Alaska Native corporations are drilling strategic exploration wells this summer in largely untested Interior Alaska sedimentary basins. Doyon Ltd. of Fairbanks and Ahtna Inc. of Glennallen are going it alone on these ventures and without partners, although the state's exploration tax credits are helping. A third Native corporation, Arctic Slope Regional Corp., is meanwhile expanding its equity holdings in oil and gas projects on the North Slope, following the sage advice that when markets drop there are opportunities.Get the Story:
Tim Bradner: Native corporations are drilling against the doom and gloom (Alaska Dispatch News 6/9)
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