72 Alaska Business | September 2018 www.akbizmag.com
profitable in a decade,” according to Minich.
“The challenge now is to continue the upward
momentum and grow in a way that adds value
to shareholders’ equity into the future. We can
achieve this by identifying new opportunities
and harnessing the strength CIRI has
established both internally and with our
In fiscal year 2017, Fairbanks-based Doyon,
Limited achieved its second highest income
in the company’s history, despite Alaska’s
challenging economic conditions. The
corporation, with more than 19,000
shareholders, operates a diverse family of subsidiaries in oil field contracting, government
services, utility management, information
technology, real estate, and resource development. Doyon reported revenue of $290.5
million in 2017, with net income of $28.7
Despite the downturn in oil prices, Doyon
Drilling continues to be an economic engine
for the corporation. Doyon invested in a new
extended-reach drilling rig, Rig 26, which is
under construction in Edmonton, Canada,
and is expected to join Doyon Drilling’s fleet
in 2020. Doyon has also been exploring the Ne-
nana basin for commercial oil and gas potential
and drilled a fourth well, Totchaket #1, in sum-
For the 2017-2018 school year, Doyon
awarded more than 400 scholarships. Doyon
also announced its 38th roustabout training
program for entry-level positions on Doyon’s
rigs. Hundreds of shareholders have graduated
from the program.
Doyon is also a major contributor for the
Morris Thompson Memorial Golf Classic,
which raises nearly $100,000 annually for a
scholarship program in Thompson’s name.
Thompson was an Alaska Native leader and
Doyon head who died in a 2000 plane crash.
Doyon also offers the Daaga’ Awards—grants
to organizations that promote drug- and
alcohol-free events in the Doyon region,
which encompasses 12. 5 million acres in In-
terior Alaska. Doyon also contributes to the
Doyon Foundation’s language revitalization
program, the purpose of which is to develop
a program that will ensure the cultures and
languages of the Doyon region are taught,
documented, and easily accessible.
Kodiak-based Koniag, Inc. continues to build
on its success in the past several years. Koniag, which ended its 2018 fiscal year on March
31, reported total revenue of $267 million
and $271 million for fiscal year 2017, with
pre-tax earnings of $11.7 million and $6.5
Koniag, which has approximately 4,000
shareholders, operates three main business
lines: commercial IT services that are based
in Michigan; government contracting services, based in Chantilly, Virginia; and its
Alaska-based businesses, says Chairman and
Interim CEO Ron Unger.
“We’ve been very much focused and diligent on our organic growth strategy, which
has been growing our businesses in Alaska
and the Lower 48 through adding new clients,
selling more to our current clients, doing good
work, and managing expenses appropriately,”
The majority ( 90 percent) of Koniag’s operating revenue comes from professional services, split between its commercial IT services
and government contracting. The remaining
10 percent is derived from its energy and
water services sector, a Kodiak-based granite
quarry, and tourism operations.
Francisca Demoski, a Bristol Bay Native Corporation shareholder, wears a kuspuk, headdress,
and traditional jewelry of the Bristol Bay region.
Tatiana Ticknor, a Sealaska Corporation shareholder, wears traditional boots; Tlingit, Haida, Unangax,
and Tsimshian people live within the Sealaska region.
© Judy Patrick Photography