Dakota Plains Storage Expansion Underway And On Schedule -- December 12, 2014

Dakota Plains: Storage expansion underway on schedule and fully funded; new contracts increase throughput to 55,000 barrels/day beginning in Jan '15; guides FY15 EBITDA:

• 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.

For more background, see this post from June 10, 2014.