Doyon Supports Drilling Exploration in ANWR
Since 1980, there has been much debate regarding the opening of the Alaska National Wildlife Refuge (ANWR) for state drilling exploration opportunities. ANWR was originally established in 1960 by U.S. President Eisenhower with 8.9 million acres of land in the northeast corner of Alaska. Later in 1980, this amount of wildlife refuge land was expanded to 19 million acres with the possibility of 1.5 million of the acres, known as ANWR Section 1002, to be considered for development if U.S. Congress specifically authorized it. In 2017, a U.S. tax bill opened ANWR Section 1002 to oil and gas exploration.
Doyon has held a longstanding position of support for opening Section 1002 for exploration opportunities. Since 1995, Doyon shareholders have been polled periodically regarding the issue and, in each poll, the majority has consistently been in favor of expanding ANWR exploration opportunities. In addition to expanding drilling opportunities, it is important to Doyon as it is to shareholders to effectively manage and protect the Porcupine Caribou Herd, which crosses through the refuge to the Interior and is depended on by the Gwich’in Athabascan peoples for traditional subsistence.
The Doyon board supports maintaining and increasing state revenues, jobs and activities derived from oil production. As a leader in Arctic drilling, operational safety and a supporter of new technologies, Doyon Drilling is a capable source for building Doyon’s portfolio of services within the Doyon Family of Companies.
Exploring drilling opportunities in ANWR Section 1002 provides a possibility to expand shareholder dividends, shareholder hire and training and other contributions relating to Doyon’s mission. Doyon will keep shareholders updated on this topic as there are more developments.