- By Tribal Business News Staff
Doyon, Limited announced yesterday that it acquired Fairweather, LLC, an Anchorage-based service provider to the state’s oil and gas industry. Terms were not disclosed.
Fairbanks-based Doyon, the Alaska Native regional corporation for Interior Alaska, said the acquisition will add 180 employees to its existing operations on the North Slope by providing expertise in oilfield support, weather, logistics, and medical services.
Fairweather will be integrated with Doyon’s oil field services unit, which includes Doyon Drilling, Mid-Alaska Pipeline, Doyon Associated, and Doyon Anvil. The Doyon companies provide Arctic drilling, pipeline ownership construction, maintenance and operations, camps, engineering, and procurement services to Alaska's oil and gas industry.
In a statement, Doyon President and CEO Aaron Schutt said there are “many synergies” between Doyon’s existing oil field services and those offered by Fairweather.
Fairweather was founded in 1976 by Sherron Perry with a focus on providing aviation weather-observation services to remote regions of Alaska. Responding to the growth of the emerging oil and gas industry, Fairweather expanded its operations to include other sought-after support services designed to support exploration and production activities, according to a statement.
Doyon, which is the largest private landowner in Alaska, has more than 20,400 shareholders and was established under the 1971 Alaska Native Claims Settlement Act. In addition to its oilfield services business, Doyon has subsidiaries in government contracting and tourism.
In February, Tribal Business News reported on Doyon's plan to partner with an Anchorage-based investment firm to raise a $250 million private equity fund. Doyon said it planned to join McKinley Alaska Private Investment LLC in launching the Na’-Nuk Investment Fund 2 in Spring 2023. The fund plans to invest in companies that “aim to power, feed, connect, heal, and protect the planet.”