BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

MOORE CAPITAL MANAGEMENT, LP's Holding History (CIK: 0001448574)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 165,000 Value ($000) $8,752 Avg Close $35.24 Range $31.42 - $38.13

Q3 2014

Shares 252,600 Value ($000) $12,094 Avg Close $35.67 Range $31.93 - $41.13

Q2 2014

Shares 212,600 Value ($000) $13,051 Avg Close $38.31 Range $36.56 - $40.65

Q1 2014

Shares 265,000 Value ($000) $15,277 Avg Close $36.15 Range $33.35 - $38.82

Q4 2013

Shares 250,000 Value ($000) $13,128 Avg Close $33.02 Range $30.45 - $35.53

Q3 2013

Shares 115,000 Value ($000) $5,734 Avg Close $32.70 Range $30.21 - $35.44

Q2 2013

Shares 68,000 Value ($000) $3,315 Avg Close $30.15 Range $27.57 - $32.51

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	165,000	$8,752	$35.24	$31.42 - $38.13
Q3 2014	252,600	$12,094	$35.67	$31.93 - $41.13
Q2 2014	212,600	$13,051	$38.31	$36.56 - $40.65
Q1 2014	265,000	$15,277	$36.15	$33.35 - $38.82
Q4 2013	250,000	$13,128	$33.02	$30.45 - $35.53
Q3 2013	115,000	$5,734	$32.70	$30.21 - $35.44
Q2 2013	68,000	$3,315	$30.15	$27.57 - $32.51