General | Forecast - Production

Dakota Plains Sets 2015 Guidance; Updates Pioneer Projects

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Dakota Plains Holdings, Inc. provided an update on its operations and made several disclosures related to its growth.

Highlights are as follows:

• The storage tank expansion project currently underway successfully achieved its winter shut-down point with construction expected to resume in the spring of 2015; the project is on schedule and fully funded. In addition, a new service agreement with an existing client enables increasing the throughput of the Pioneer Terminal to 55,000 barrels per day from January 2015.
• Canadian Pacific has pledged an expanded rail service to underpin the forecast increases in throughput at Pioneer.
• For 2015 the Company provides an annualized guidance that includes an average daily throughput of 57,500 barrels per day and an adjusted EBITDA of $23.4 million.

*Access more information on these projects here

Craig McKenzie, Chairman and Chief Executive Officer of Dakota Plains, said, "The transaction to buy out our joint venture partner delivers significant value to stockholders as we grow the Pioneer Terminal. The Company is now simpler in its structure and business segments, is stronger in terms of balance sheet and income generation, is no longer exposed to direct commodity pricing risk, and is more flexible than in the past to meet our customers’ needs in logistical services. Based on significant levels of increased interest, we are considering further expansion of the Pioneer Terminal beyond 80,000 barrels per day.

"We are encouraged to see significant growth opportunities even during the current low oil price environment. I believe this is a tribute to our competitive advantage as a centrally located, reliable, and cost efficient rail terminal that plays an important role in transporting Bakken and Three Forks oil to market."