This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dakota Plains Board Of Directors Announces Executive Management Appointments

Stocks in this article: INT

WAYZATA, Minn., Feb. 12, 2013 /PRNewswire/ -- Dakota Plains Holdings, Inc. ("Dakota Plains" and "DAKP"), (OTC: DAKP) today announced that Craig M. McKenzie, a veteran of the oil and gas industry, has been appointed as Chief Executive Officer of the company.  Mr. McKenzie will also serve as the Chairman of the Board of Directors.  Mr. McKenzie replaces Gabriel G. Claypool, who will continue as President and has been appointed by the Board to serve as Chief Operating Officer.  With this transition, Mr. Claypool will provide direct oversight of the company's rapidly expanding operations in the Williston Basin in North Dakota. 

Dakota Plains is in its fourth year of midstream operations with three active business segments each respectively focused on the marketing, transloading and trucking of crude oil and related products originating within the Williston Basin of North Dakota.  Dakota Plains plans to expand its operations in New Town, North Dakota, and pursue additional growth opportunities in the Williston Basin to provide shareholders with exposure to a rapidly evolving industry segment and commodity oil prices.

Mr. Gary Alvord, Lead Independent Director of Dakota Plains' Board of Directors, said: "The Board is thrilled to have someone of Craig's experience and caliber assuming the leadership of Dakota Plains.  Throughout his career, Craig has demonstrated a solid track record of performance delivery through project execution and strategic mergers and acquisitions.  Gabe has demonstrated excellent operational performance and efficient development of the company's assets and this new arrangement will allow him to continue in that capacity.  The Board views this new executive leadership team as an exceptional outcome that will best position Dakota Plains to achieve its growth objectives and create value for shareholders."

Commenting on his selection as the new Chairman and Chief Executive Officer, Mr. McKenzie said: "I am excited and honored to have been asked to lead Dakota Plains.  Under Gabe's leadership, the company has grown significantly, with the ramp-up of the transloading operations to 30,000 barrels of oil per day and marketing volumes from 2011 to 2012 growing by over 500%.  My priorities are to build on the company's strong fundamentals by ensuring our operations deliver under Gabe's leadership, while also securing new growth projects and accelerating strategic transactions to position Dakota Plains for the future as a leader in this segment."

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs