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Arkansas Southern Railroad - (en)

The Arkansas Southern Railroad (AAR reporting marks ARS) is a Class III short-line railroad which started service in October, 2005.

ASR operates two disconnected lines consisting of 61 total miles, which are leased from Kansas City Southern (KCS):

The Northern Branch (formerly the KCS Waldron Branch) will operate from Waldron, Arkansas to Heavener, Oklahoma, where it will interchange with KCS.
The Southern Branch (formerly the KCS Nashville Branch) will operate from Ashdown, Arkansas (where it will interchange with KCS) to Nashville, Arkansas (where it will interchange with Union Pacific.
ASR is owned by Watco Companies, a short-line railroad holding company

History from WikipediaŽ