Native corporation to buy oilfield service company

Bristol Bay Native Corporation has announced that it has signed a definitive agreement with Nabors Alaska Services Corp. to acquire a 100 percent ownership interest in its subsidiary, Peak Oilfield Service Co. The acquisition is subject to customary closing conditions, but is expected to close in the fourth quarter of 2013.

Peak is a leading Alaska energy support services company, with a unique and diverse set of capabilities, which allow it to support its customers located primarily on the North Slope, Cook Inlet, Valdez and North Dakota. BBNC is a diversified Alaska Native corporation, with subsidiaries currently operating in the oilfield and industrial services, construction, government services, petroleum distribution and tourism industries.