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Native Corporation plans company acquisition

ANCHORAGE, Alaska (AP) -- Officials with Bristol Bay Native Corp. say they've signed an agreement to acquire ownership of Anchorage-based Peak Oilfield Service Co.

BBNC president and CEO Jason Metrokin said Thursday the agreement is expected to be completed on Nov. 1.

The agreement was signed with Nabors Alaska Services Corp., a subsidiary of Nabors Industries Ltd.

No acquisition price for Peak has been disclosed.

BBNC says Peak's customers are located primarily in the North Slope, Valdez, Cook Inlet and the state of North Dakota.

Anchorage-based BBNC is the regional Native corporation that represents more than 9,000 shareholders with ties to the Bristol Bay area of southwest Alaska.