Jump to content

Arctic Slope Regional Corporation

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Klbrain (talk | contribs) at 11:19, 5 September 2023 (Adding missing merge template). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Arctic Slope Regional Corporation
Company typePrivate company
Founded1971 [1]
HeadquartersUtqiaġvik, Alaska,
USA
Area served
Alaska
Key people
  • Crawford Patkotak (chairman)
  • Paul Bodfish Sr. (vice chairman)
  • Charlie Kozak (vice president, chief financial officer)
  • Butch Lincoln (vice president and chief operating officer of the board)
  • Rex A. Rock Sr. (President & CEO)
Products
Services
RevenueIncrease US$3.9 billion (FY2022)[2]
Increase US$ billion (FY2021)
Increase US$ billion (FY2021)
Total assetsIncrease US$ billion (FY2021)
Total equityIncrease US$ billion (FY2021)
Number of employees
15,000 (FY2022)
Subsidiaries
  • ASRC Federal
  • ASRC Energy Services
  • ASRC Industrial Services
  • ASRC Construction
Websitewww.asrc.com

Arctic Slope Regional Corporation, or ASRC, is one of 13 Alaska Native Regional Corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. ASRC was incorporated in Alaska on June 22, 1972.[3] Headquartered in Utqiaġvik, Alaska, with administrative offices in Anchorage,[4] ASRC was as of 2017, a for-profit corporation with nearly 11,000 Alaska Native shareholders primarily of Inupiat Eskimo descent.[5]

History

Arctic Slope Regional Corporation was created under the Alaska Native Claims Settlement Act of 1971.[1] The initial shareholders were the 13,000 Iñupiaq Eskimos listed in the 1970 US census.[citation needed] Since April 1990 ASRC’s shareholder base grew from 3,700 shareholders in 1972 to about 14,000 today.[1]

Operations

ASRC is a private for profit corporation, with headquarters in Utqiaġvik, Alaska, and administrative offices in Anchorage. As of 2023, ASRC had 15,000 employees in Alaska and the lower US.[6]

It consists of the following different subsidiaries :

ASRC Federal

ASRC Federal consists of 19 companies, with more than 8,000 employees in over 40 states across the U.S., which contract U.S. Federal government services. These companies deliver engineering, information technology, infrastructure support, professional and technical services to civil, defense and intelligence agencies: namely ASRC Federal Agile Decision Sciences, ASRC Federal Analytical Services, ASRC Federal Astronautics, ASRC Federal Communications, ASRC Federal Cyber, ASRC Federal Data Network Technologies, ASRC Federal Data Network, ASRC Federal Data Solutions, ASRC Federal Data Networks Corporation, ASRC Federal Field Services, ASRC Federal InuTeq, ASRC Federal Mission Services, ASRC Federal Mission Solutions, ASRC Federal Primus, ASRC Federal Research and Technology Solutions, ASRC Federal Space and Defense, ASRC Federal System Solutions, ASRC Federal Technical Services, and ASRC Federal Vistronix.[7]

Petroleum Refining

ASRC owns Petro Star Inc., the only Alaskan-owned refining and fuel marketing operation in Alaska with 2 refineries along the Trans-Alaska Pipeline System: the North Pole Refinery and Valdez refinery. It owns the North Pacific Fuel and Sourdough Fuel brands. [8]

Oil field services

ASRC Energy Services and Little Red Services provide oil field services and employ 2,300 Alaskans alone. They provide hot-oil service, inspecting and flushing oil well tubing and surface lines with fluids to remove accumulated deposits[9]

ASRC Industrial

ASRC Industrial is based in Tempe, Arizona and comprises three operating groups: 1) Maintenance, Mechanical and Specialty Services, 2) Cleaning, Demolition and Remediation and 3) Engineering, Inspection and Professional Services. These are delivered by 24 companies.[10]

ASRC Building

ASRC Construction’s services fall into four categories: buildings, civil and infrastructure and building materials, delivered by 4 different companies. [11]

Others

Eskimos, Inc. is a fuel and automotive parts distributor and Top of the World Hotel,a hotel which operates Tundra Tours, Inc. tour programs.[12]

Resource development

ASRC is one of the largest private landowners in Alaska, with ownership in fee simple of 5 million acres of land. ASRC has a royalty position in the Colville River (Alaska) Unit (CRU), home of the Alpine, Alaska oil field. Alpine field production peaked in November 2005, but as of 2012 CRU satellite developments account for nearly a quarter of the oil production at the Alpine site. Production started in the fourth quarter of 2015 from the new CD-5 drill site, located to access both the Nanuq Kuparuk and the Alpine Participating Areas. Additionally, in late 2015 the Bureau of Land Management issued the remaining outstanding permits providing for development of the Greater Mooses Tooth 1 (GMT1) development. ASRC is the majority subsurface owner for the initial GMT1 development located eight miles west of CD-5.[13]

Corporate governance

ASRC is served by a 15-member board of directors. Seven of the members are residents of Wainwright, Point Lay, Point Hope, Nuiqsut, Anaktuvuk Pass, Atqasuk and Kaktovik, five are from Utqiaġvik, and three are “At Large” seats.

As of 2023 executive officers were Rex A. Rock Sr., President and CEO, and Butch Lincoln, Executive VP, Chief Operating Officer, Charlie Kozak, Executive VP, Chief Financial Officer and Crawford PatkotakExecutive VP, Stakeholder Engagement.[14] Rock and Lincoln earned nearly 18 million US$ in 2021.[15]

Revenue

After ASRC was created in 1971, it received a share of the $963 million provided by the Alaska Native Claims Settlement Act, plus a number of acres of land in proportion to the size of villages in its region. It was able to define and obtain title to parcels of land without restriction to any former title or land claim. It engaged experts to identify land with significant potential for petroleum, timber, fish, game, and tourist development. Its lands include half of the 429 million-barrel Alpine Oil Field, which started production in 2001.[16]

In 2015, its gross revenue was $2.5 billion.[citation needed] Since inception, it has delivered over $915 million as dividends to shareholders.[citation needed]

Since 2000, it has distributed $90 million to support socioeconomic opportunities in the area, including scholarships and training programs to qualified Iñupiat.[citation needed]

Ranking

In 2016, ASRC was ranked as the fourth best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.[17]

In 2021, ASRC was ranked as no. 14 most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index.[18]

References

  1. ^ a b c "History". Arctic Slope Regional Corporation. nd. Retrieved 2023-02-05.
  2. ^ "Arctic Slope Regional Corporation ,Company Overview & News". Forbes. Retrieved 2023-02-06.
  3. ^ Corporations Database. Arctic Slope Regional Corporation Archived 2012-12-24 at archive.today. Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development. Retrieved on March 27, 2007.
  4. ^ "Company Profile". ASRC.com. Archived from the original on March 12, 2007. Retrieved October 29, 2017.
  5. ^ "Stock". ASRC.com. Archived from the original on April 9, 2007. Retrieved October 29, 2017.
  6. ^ "ASRC Operations". Arctic Slope Regional Corporation. nd. Retrieved 2023-02-05.
  7. ^ Arctic Slope Regional Corporation (n.d.). "Government Contract Services". www.asrc.com. Retrieved 2023-02-06.
  8. ^ Arctic Slope Regional Corporation (2019). "Petroleum Refining and Marketing". www.asrc.com. Retrieved 2023-02-06.
  9. ^ Arctic Slope Regional Corporation (2019). "Energy Support Services". www.asrc.com. Retrieved 2023-02-06.
  10. ^ Arctic Slope Regional Corporation (2019). "ASRC Industrial". www.asrc.com. Retrieved 2023-02-06.
  11. ^ Arctic Slope Regional Corporation (2019). "ASRC Construction". www.asrc.com. Retrieved 2023-02-06.
  12. ^ Arctic Slope Regional Corporation (2019). "other businesses". www.asrc.com. Retrieved 2023-02-06.
  13. ^ Arctic Slope Regional Corporation (2012). "Resource development". www.asrc.com. Retrieved 2023-02-06.
  14. ^ "leadership team". www.asrc.com. Retrieved 2023-02-06.
  15. ^ Landfield, Jeff; field (2022-06-30). "ASRC's top two executives earned nearly $18 million combined in 2021, a 50% increase from 2020". The Alaska Landmine. Retrieved 2023-02-06.
  16. ^ pp1732a.pdf
  17. ^ Overland, Indra (2016). "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic". ResearchGate. Arran. Retrieved 2 August 2018.
  18. ^ Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698
Retrieved from "https://en.wikipedia.org/w/index.php?title=Arctic_Slope_Regional_Corporation&oldid=1173953262"