Calista Acquires North Slope Drilling Company
Company Milestone: Calista’s 1st major acquisition since 2013
(Anchorage, Alaska) – Effective January 1, 2020, Calista Corporation (cha-LIS-tuh) acquired Nordic-Calista Services (“Nordic Calista”), a drilling and workover company operating primarily on Alaska’s North Slope.
Calista took full ownership of Nordic Calista by purchasing Nordic Well Servicing Inc., the company’s founder and majority owner. Calista had participated as a 20% Nordic Calista joint venture partner alongside Nordic Well Servicing, Inc., since 1985.
“This is Calista’s first major acquisition since 2013 and we are very pleased to create new value for our Shareholders by increasing our investment in Alaska’s North Slope,” said Calista Corp. President/CEO Andrew Guy.
Alaska’s North Slope is experiencing an upsurge in construction and drilling due to recent oil discoveries and development in new and existing oil fields. Nordic Calista owns five drilling rigs and five camps available for projects on the North Slope.
Calista’s last major acquisition was its 2013 purchase of STG Inc. and its subsidiaries Alaska Crane, Gambell Properties and Terra Foundations. STG specializes in heavy construction projects in Alaska including the installation of wind energy and telecommunication towers, bulk fuel systems, bridges, pile foundations and other infrastructure needs in rural and urban areas.
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Calista Corporation has over 31,000 Shareholders and is the parent company of more than 30 subsidiaries in the following industries: military defense contracting, construction, real estate, environmental and natural resource development, marine transportation, oil field services and heavy equipment sales, service and rentals. Since 1994, Calista has provided more than $4.6 million in scholarships to its Shareholders and Descendants. Since inception, Calista has declared more than $67.7 million in distributions, and $7.3 million in Elders’ Benefit Program distributions to Shareholders. Calista can be found on Facebook and Twitter.