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Corporate Presentation – Dakota Plains Holdings Inc.

Dakota Plains Holdings Inc. · Feb 10, 2015 · 28 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Corporate Presentation – Dakota Plains Holdings Inc. – slide 1
    NYSE MKT: DAKP CORPORATE PRESENTATION FEBRUARY 10, 2015 WWW.DAKOTAPLAINS.COM
  2. Corporate Presentation – Dakota Plains Holdings Inc. – slide 2
    SUMMARY Corporate Overview: Corporate information Pioneer Terminal in New Town, ND With increased Canadian Pacific service, secured 55k bopd for January 2015 and were over-subscribed Have line of sight on 80k bopd by summer 2015;…
  3. Corporate Presentation – Dakota Plains Holdings Inc. – slide 3
    CORPORATE INFORMATION Dakota Plains Holdings, Inc. is an integrated midstream energy company operating the Pioneer Terminal with services that include outbound crude oil storage, logistics, and rail transportation and inbound frac sand…
  4. Corporate Presentation – Dakota Plains Holdings Inc. – slide 4
    COMPANY HIGHLIGHTS Pioneer Terminal serves top producing counties in North Dakota Mountrail, McKenzie, Williams and Dunn counties At terminus of Canadian Pacific line, which offers enhanced rail access and reduced Strategic…
  5. Corporate Presentation – Dakota Plains Holdings Inc. – slide 5
    PIONEER TERMINAL Pictures HILAND, PELICAN & TARGA PIPELINE CDPS 180K BBLS STORAGE, 270K SUMMER 2015 TWO INBOUND UNIMIN FRAC SAND PIPELINES TERMINAL 10 STATION RAIL LOADING 10 TRUCK OFFLOAD STATIONS FOUR LADDER TRACKS…
  6. Corporate Presentation – Dakota Plains Holdings Inc. – slide 6
    PIONEER TERMINAL CRUDE OPERATIONS Land is owned by Dakota Plains Holdings, Inc. Commenced operations August 2010 Generates revenue through fee/bbls Double loop track, each 120 car capable 180,000 bbls of storage, third 90,000 bbls…
  7. Corporate Presentation – Dakota Plains Holdings Inc. – slide 7
    PIONEER TERMINAL SAND OPERATIONS Land is owned Dakota Plains Holdings, Inc. Commenced frac sand transloading operations June 2014 Generates revenue through fee/ton paid by Unimin 8,500 feet of dedicated track space 8,000 tons of…
  8. Corporate Presentation – Dakota Plains Holdings Inc. – slide 8
    PIONEER LOCATION Location Highlights: One of 3 rail terminals not on BNSF Only non-BNSF terminal that accepts third party volumes Capacity for 5 inbound pipelines; two connected Access to only Missouri River bridge crossing…
  9. Corporate Presentation – Dakota Plains Holdings Inc. – slide 9
    CRUDE BY RAIL TERMINALS FALL 2014 Global/Basin Stampede - CP c. 70k bpd Plains All American No 3rd Party Hess Ross BNSF Crestwood Partners Storage 200k Tioga - BNSF c. 65k bpd Epping - BNSF Gathering c. 70k bpd c. 100k bpd…
  10. Corporate Presentation – Dakota Plains Holdings Inc. – slide 10
    PIONEER QUARTERLY VOLUME GROWTH Average Daily Volume by Quarter (bopd) 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 1q12 2q12 3q12 4q12 1q13 2q13 3q13 4q13 1q14 2q14 3q14…
  11. Corporate Presentation – Dakota Plains Holdings Inc. – slide 11
    2015 OPERATIONS OUTLOOK Canadian Pacific expands crude oil train allocations to 22 per month starting 1Q2015 Contracted crude oil transloading volumes now 55k bopd starting January 2015 Canadian Pacific has also pledged incremental…
  12. Corporate Presentation – Dakota Plains Holdings Inc. – slide 12
    Current Environment
  13. Corporate Presentation – Dakota Plains Holdings Inc. – slide 13
    NORTH DAKOTA RAIL & PIPELINE VOLUMES Brent/WTI spread /bbl North Dakota production Rail bbl/day volume Pipeline Volume Sources: North Dakota Pipeline Authority (NDPA) with data through November 2014 and the Energy…
  14. Corporate Presentation – Dakota Plains Holdings Inc. – slide 14
    NORTH DAKOTA CRUDE OIL PIPELINES & EXPANSIONS Commissioned December 2014 Butte Loop = 110k bpd Hiland = 50k bpd Both are bound for Guernsey, WY Planned Sandpiper = 225,000 bpd (Q 2017) Minot to Clearbrook, MN Energy…
  15. Corporate Presentation – Dakota Plains Holdings Inc. – slide 15
    REVIEW OF BUYOUT OF JV PARTNER
  16. Corporate Presentation – Dakota Plains Holdings Inc. – slide 16
    JV TRANSACTION Acquired partners 50% share of oil Own 100% of the business, Pioneer transloading, sand transloading, and Terminal and land oil marketing business Terminates under-performing JVs Secured indemnity to mitigate Removes…
  17. Corporate Presentation – Dakota Plains Holdings Inc. – slide 17
    TRANSACTION DETAILS Signed definitive agreement and closed on December 5, 2014 Total consideration: Payment of 43m cash Future contingent payments at 0.225 per barrel actually transloaded, capped at 80k bopd, through 2026 (remainder…
  18. Corporate Presentation – Dakota Plains Holdings Inc. – slide 18
    FINANCING THE TRANSACTION The new 57.5M credit facility provided by SunTrust Bank consists of Two fully drawn tranches of term loan for a total of 37.5M One revolver of 20.0M which is 11.0M drawn The former terminal note and the…
  19. Corporate Presentation – Dakota Plains Holdings Inc. – slide 19
    BALANCE SHEET IMPACT OF TRANSACTION millions Before (3q14) After (12/5/14) Current Assets 10.4 32.0 Property and Equipment 54.8 54.8 Investment in DPTS Marketing, LLC 10.6 - Deferred Tax Asset 3.4 23.7 Other 1.5 0.8 Total…
  20. Corporate Presentation – Dakota Plains Holdings Inc. – slide 20
    Guidance & Growth Opportunities
  21. Corporate Presentation – Dakota Plains Holdings Inc. – slide 21
    2015 GUIDANCE Crude oil throughput volumes: 55k bopd effective Jan 2015 Increasing to 60k bopd effective 2H2015 2015 expected average throughput volumes 57.5k bopd, opportunity to further increase volumes 2H2015 Sand throughput…
  22. Corporate Presentation – Dakota Plains Holdings Inc. – slide 22
    2015E PRODUCT THROUGHPUT Crude (bopd) Sand (tons pcm) 70 35 Thousands Thousands 65 30 25 60 20 55 15 50 10 45 5 40 0 23
  23. Corporate Presentation – Dakota Plains Holdings Inc. – slide 23
    ASPIRATION Terminal throughput capacity, bopd Planned Phases 4-6 Phase 3 under construction Phase 2 Phase 1 Source: Lipow Oil Associates and DAKP management 24
  24. Corporate Presentation – Dakota Plains Holdings Inc. – slide 24
    CAPITAL PLAN 2015E 2017E Objective is to build out the Pioneer Terminal to 160k bopd in phases based on level of rail service and demand for throughput: Phase 4 - A third 8,400 ft loop track: Project still subject to approval…
  25. Corporate Presentation – Dakota Plains Holdings Inc. – slide 25
    APPENDIX
  26. Corporate Presentation – Dakota Plains Holdings Inc. – slide 26
    CANADA & UNITED STATES CRUDE BY RAIL TERMINALS Source: Wall Street Journal Article 09-14-14 27
  27. Corporate Presentation – Dakota Plains Holdings Inc. – slide 27
    2015 CLASS I CAPEX Class I 2015 CAPEX % of EPS from Crude By Rail BNSF 6B Canadian National 2.2B 6% Canadian Pacific 1.5B 9% CSX 2.5B 3% Kansas City Southern 700M 1% Norfolk Southern 2.4B 4% Union Pacific 4.3B 2% Total 19.6…
  28. Corporate Presentation – Dakota Plains Holdings Inc. – slide 28
    ADJUSTED EBITDA (expressed in USD millions, unless otherwise indicated) Twelve Months Ended December 31, 2015 Net Income 8.5 Add back: Interest Expense 7.6 o/w Contingent payment interest 4.2 Term loan and revolver interest 3.1…

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