Mon, Apr. 4, 10:58 AM
- Dakota Plains (DAKP +3.9%) says CFO Timothy Brady has resigned, and executive VP for strategy and general counsel Jim Thornton will assume the responsibilities as interim CFO.
- Thornton has served as general counsel and secretary since joining the company in 2013 and as executive VP for strategy since last December.
- Brady joined DAKP as CFO in 2012, and was instrumental in taking the company public; he had been a founder and CFO of Encore Energy.
Fri, Mar. 18, 10:57 AM
- The Lone Star hedge fund, 11% owner of Dakota Plains Holdings (DAKP -4.5%), nominates five candidates for election to the company board, seeking to "overhaul corporate governance and maximize stockholder value."
- Lone Star says DAKP's poor stock price performance is a direct result of the failures of the CEO and board, citing long histories of destroying stockholder value by CEO and Chairman Adam Kroloff before coming to DAKP.
Sep. 21, 2015, 2:17 PM
- Dakota Plains (DAKP -46%) shares are nearly cut in half after the midstream energy company said late Friday that it received a non-compliance notice from NYSE MKT regarding the exchange's continued listing standards due to ~$3.1M in stockholders' deficit.
- DAKP says the recognition of the contingent liability for future volumes transloaded through the Pioneer Terminal over the next 12 years was a contributing factor to the stockholders' deficit, and plans to revalue the contingent liability in the next quarter based on actual and forecast volumes.
Sep. 21, 2015, 12:41 PM
Dec. 15, 2014, 2:28 PM
- Dakota Plains (DAKP +25.2%) soars after Lone Star Value Management, the company's largest shareholder with aggregate ownership of ~7.3% of outstanding shares, issues an open letter to DAKP's board which says significant additional value can be created with an MLP structure for the Pioneer transloading facility.
- Lone Star says its analysis shows DAKP's assets inside an MLP structure could be valued at $3.55-$4.85/share based on DAKP's earnings potential by year-end 2015 once Pioneer is transporting 80K bbl/day of oil; also, if further capital investment is made so that Pioneer can transport its full facility capacity of 160K bbl/day, DAKP's potential future value in a few years could approach $7.70-$10.20/share inside an MLP structure.
- Shares surged Friday on news that expansion of the Pioneer facility remains on schedule and is fully funded.
Dec. 15, 2014, 12:52 PM
Dec. 12, 2014, 2:32 PM
- Dakota Plains Holdings (DAKP +17.9%) surges on news its storage expansion project increasing throughput to 55K bbl/day remains on schedule and fully funded; construction recently was suspended due to winter weather and will resume in the spring.
- Canadian Pacific (NYSE:CP) has pledged an expanded rail service to underpin the forecast increases in throughput at DAKP's Pioneer terminal.
- For 2015, DAKP says it expects total average throughput of 57.5K bbl/day and an adjusted EBITDA of $23.4M.
Sep. 19, 2014, 5:37 PM
Sep. 18, 2014, 5:36 PM
Sep. 2, 2014, 10:57 AM
- Dakota Plains (DAKP +2.1%) says it and its joint venture partner have approved the expansion of oil storage at its Pioneer Terminal in New Town, N.D., with construction of a third 90K-barrel storage tank set to begin immediately.
- DAKP says regulatory permits and engineering design are complete, and the storage tank is expected to be operational by summer 2015.
- DAKP says the addition of a third storage tank, recently announced Hiland Partners gathering pipeline and anticipated expanded rail service at the terminal will increase oil storage capacity to 270K bbl/day of crude from 180K.
Dakota Plains Holdings, Inc. is engaged in developing and owning crude oil and related product transloading facilities, and the marketing and transporting of crude oil originating within the Williston Basin of North Dakota and Montana. The company holds interest in Pioneer Project. Dakota Plains... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States