ANCHORAGE — Apache Alaska has received a prestigious Pinnacle Award for the logo design of its signature fundraising event, the Apache Rainbow Challenge.

Apache has raised more than $150,000 from the fly-fishing tournament on the Kenai River. The funds benefit the Tustumena 200 Sled Dog Race, the only Iditarod sled dog race-qualifying event on the Kenai Peninsula; Alaska Resource Education, a partnership between Alaska and private industry to educate young people about Alaska’s natural resources; and the Boys and Girls Club of the Kenai Peninsula.

“It’s a fun way to raise much-needed funding for three great causes,” said Apache Alaska General Manager John Hendrix.

Apache has acquired extensive acreage in Cook Inlet Basin, an under-explored oil and gas-producing region that was first developed in the 1950s and 1960s. Apache is using modern seismic technology to gain accurate imaging of the subsurface of the region to identify the most promising locations for exploratory drilling, according to a press release.

The Alaska Chapter of the American Marketing Association presented the award. MSI Communications of Anchorage designed the logo.