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Bristol Bay Native Corporation purchases fuel businesses in Bristol Bay

FOR IMMEDIATE RELEASE
August 3, 2015

CONTACT:
Jason Metrokin, President and CEO, This email address is being protected from spambots. You need JavaScript enabled to view it.
Jeffrey Sinz, Sr. Vice President and CFO, This email address is being protected from spambots. You need JavaScript enabled to view it.
(907) 278-3602

Bristol Bay Native Corporation purchases fuel businesses in Bristol Bay 

Anchorage, AK – Bristol Bay Native Corporation (BBNC) is pleased to announce the purchase of Bristol Express Fuels, Inc., Bristol Alliance Fuels, LLC, and certain assets of Bristol Commercial Properties, LLC, located in Dillingham, Alaska. BBNC completed the acquisitions on July 31, 2015.

Investing within the Bristol Bay region has been a priority for BBNC over the past several years. This acquisition will position BBNC as a significant distributor of fuel products in the Dillingham area of Bristol Bay.  

Under BBNC’s ownership, Bristol Alliance Fuels will operate a 2.95 million gallon tank farm, a marine fueling facility, and the Bristol Express retail gas station and convenience store. The business supplies diesel fuel, regular unleaded gasoline, aviation gasoline, Jet A and propane to commercial and residential customers in Dillingham and the surrounding area. In addition to fuel delivery and sales, Bristol Alliance Fuels also provides fuel terminaling, docking, storage, and barge haul-out services. The company employs 20 people in Dillingham.

“BBNC is very excited about the purchase of Bristol Express Fuels and Bristol Alliance Fuels,” said Jason Metrokin, president and chief executive officer of BBNC. “This acquisition aligns with our in-region investment strategy, and the business fits into BBNC’s existing Petroleum Distribution line of business. We look forward to the opportunities this investment will bring to Bristol Bay and BBNC shareholders.”

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About BBNC: Bristol Bay Native Corporation is a responsible Alaska Native investment corporation dedicated to the mission of “Enriching Our Native Way of Life.” Established through the Alaska Native Claims Settlement Act of 1971(ANCSA), BBNC works to ensure the continuation of the life and culture of its more than 10,000 shareholders—the Eskimo, Indian and Aleut Natives of Southwest Alaska’s Bristol Bay region.

2015 Shareholder Informational Meetings

If you're unable to attend the BBNC Annual Meeting of Shareholders in Naknek on Saturday, October 3, 2015, please join BBNC for a corporate overview at one of the following Shareholder Informational Meetings:

  • ANCHORAGE: Saturday, August 8, 2015, 12 p.m., Dena'ina Civic and Convention Center; BBNC will also host a Career Fair at the Dena'ina Center from 11:30-3:00 in the Tikahtnu Ballroom
  • DILLINGHAM: Friday, August 14, 2015, 6 p.m., Dillingham Elementary School
  • NEW STUYAHOK: Saturday, August 15, 2015, 12 p.m., New Stuyahok Village Council Building
  • KOKHANOK: Friday, August 21, 2015, 5 p.m., KCC Building
  • CHIGNIK BAY: Saturday, August 22, 2015, 12 p.m., Chignik Bay Community Hall
  • MANOKOTAK: Friday, August 28, 2015, 5 p.m., Manokotak Nunaniq School
  • TOGIAK: Saturday, August 29, 2015, 12 p.m., Togiak High School
  • PORTLAND: Saturday, September 19, 2015, 1 p.m., Hilton Portland & Executive Tower
  • SOLDOTNA: Monday, September 21, 2015, 6 p.m., Soldotna Senior Center

 

Shareholder artists interested in selling their crafts at any of the meetings or the annual meeting in Naknek, please call BBNC at 1-800-426-3602 to reserve a table.

New Job Opportunities at BBNC

Leadership Opportunities in Alaska Oil & Gas

Bristol Bay Native Corporation is recruiting for leadership positions at its subsidiaries Bristol Bay Industrial, LLC and Peak Oilfield Service Company.

Bristol Bay Industrial (BBI) is a holding company that provides strategic leadership and operational oversight of BBNC’s oilfield and industrial services business line, which currently includes wholly owned subsidiaries CCI Industrial Services, Kakivik Asset Management, and Peak Oilfield Service Company. BBI is seeking applicants for a Senior Vice President of Business Development and a Vice President Chief Financial Officer.

Peak Oilfield Service Company (Peak) provides oilfield support such as construction, maintenance, industrial cleaning, power generation and transportation services to multiple clients on the North Slope, Palmer, Kenai, and North Dakota. Peak is seeking applicants for Senior Vice President of Operations.

To view the full job descriptions, position requirements and to apply, please visit click the job titles above. These positions are open until filled.

Questions about these positions? Contact Rick Baird, Vice President of Human Resources at (907) 265-7841.

 

BBNC gives employment preference to shareholders, their spouses and descendants.

Mark D. Nelson to lead new BBNC oilfield and industrial services holding company

FOR IMMEDIATE RELEASE
June 8, 2015

Anchorage, Alaska—Bristol Bay Native Corporation is pleased to announce the hiring of Mark D. Nelson as President and Chief Executive Officer of BBNC’s newly-formed oilfield and industrial services holding company.

Nelson holds a law degree from Stanford University and a B.A. from the University of Alabama. In addition, Nelson brings many years of industry experience and knowledge to his new position. Most recently, he served as the Senior Vice President, Oil & Gas, at Quanta Services, a Fortune 500 company in the electric power and oil and gas industries with offices across the nation and around the world. Prior to that, Nelson spent five years at ASRC Energy Services, serving as General Counsel and Chief Operating Officer.

As President and CEO of BBNC’s new holding company, Nelson will provide the strategic leadership and operational oversight necessary to ensure the financial and operational success of BBNC’s oilfield and industrial services business line, which currently includes wholly owned subsidiaries CCI Industrial Services, Kakivik Asset Management, and Peak Oilfield Service Company.

 

“With Mark’s diversity of background, experience and wealth of knowledge in the oil and gas industry, he is uniquely poised to lead and guide BBNC’s oilfield and industrial services business line to a new level of growth and diversification,” said Jason Metrokin, BBNC President and Chief Executive Officer. “We are excited to have Mark join the BBNC family of companies.”

Nelson begins his new role at BBNC today, Monday, June 8, 2015.

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Bristol Bay Native Corporation (BBNC) is a responsible Alaska Native investment corporation dedicated to the mission of “Enriching Our Native Way of Life.” Established through the Alaska Native Claims Settlement Act of 1971 (ANCSA), BBNC works to ensure the continuation of the life and culture of its more than 10,000 shareholders—the Eskimo, Indian, and Aleut Natives of Southwest Alaska’s Bristol Bay region.

BBNC Shareholder Dividend Information

On Friday, May 29, the BBNC Board of Directors declared a June dividend of $8.10 per share. If you have 100 shares, this means you will receive $810.00. The June dividend will be paid on Friday, June 5, 2015. On this date, shareholders who receive direct deposit will see dividends posted to their bank accounts, and paper checks will be mailed on this day as well.

BBNC dividends are paid four times a year, on the first Friday of March, June, September and December. Changes to direct deposit or address information must be made at least 14 days in advance of any dividend payment to ensure your dividend reaches you in a timely manner.

If BBNC receives any returned mail for a shareholder, their dividends will be placed on hold until an address correction is received and signed by the shareholder. This includes those shareholders receiving direct deposit. The address change form can be found under Shareholder Forms page on our website, or one can be mailed to you by contacting our office.

If your dividend has been returned to our office and you wish to request the check be reissued, please contact BBNC. A check reissue may take as long as 6 to 8 weeks to process.

All dividends paid by BBNC are reported to the IRS as taxable income and 1099 forms are sent to all shareholders in January of each year.

Bristol Bay Times Article

BBNC has received a number of phone calls about an article published in the Bristol Bay Times regarding an increase in shareholder dividends. The article published on their website is dated February 22, with no year indicated. We would like to clarify that this article was published in 2011, and the $22 per share dividend amount mentioned in the article was an annual amount ($22 per share annually = $5.50 per share quarterly). Because the newspaper was owned by another entity in 2011, BBNC was told they are not able to edit the article or indicate the year it was published.

Dividend questions? Call the BBNC dividend hotline at 1-800-478-3602.