{"id":998002,"date":"2026-08-25T16:36:08","date_gmt":"2026-08-25T20:36:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/par-pacific-announces-agreement-to-sell-laramie-energy-assets\/"},"modified":"2026-08-25T16:36:08","modified_gmt":"2026-08-25T20:36:08","slug":"par-pacific-announces-agreement-to-sell-laramie-energy-assets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/par-pacific-announces-agreement-to-sell-laramie-energy-assets\/","title":{"rendered":"Par Pacific Announces Agreement to Sell Laramie Energy Assets"},"content":{"rendered":"
\n

HOUSTON, Aug. 25, 2026 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) (\u201cPar Pacific\u201d or the \u201cCompany\u201d) announced today that Laramie Energy, LLC (\u201cLaramie Energy\u201d or the \u201cSeller\u201d), in which the Company owns a 46% non-controlling ownership interest, entered into a definitive agreement with a third-party purchaser (the \u201cPurchaser\u201d) to sell substantially all of its oil and gas assets to the Purchaser (the \u201cTransaction\u201d) for $485 million in cash (of which $60 million is payable on the fifth anniversary of the closing date), subject to working capital and other customary closing date adjustments. The Seller is also eligible to receive potential price-contingent earn-out payments from the Purchaser of up to an additional $65 million in the aggregate following the first through fifth anniversaries of the closing date.<\/p>\n

In connection with the closing of the Transaction, net of Seller debt repayment and closing adjustments and fees, the Company (a) expects to receive approximately $146 million of the Transaction consideration (of which approximately $27.5 million is payable on the fifth anniversary of the closing date) and is eligible to receive up to approximately $30\u00a0million of the earn-out payments, and (b) will exit its investment in Laramie Energy.<\/p>\n

The Transaction is expected to close by the end of 2026, subject to regulatory approvals and the satisfaction of customary closing conditions.<\/p>\n

\n About Par Pacific<\/strong>\n <\/p>\n

Par Pacific Holdings, Inc.\u00a0(NYSE and NYSE Texas: PARR), headquartered in\u00a0Houston,\u00a0Texas, is a growing energy company providing both renewable and conventional fuels to the western United States.\u00a0Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in\u00a0Hawaii, the\u00a0Pacific Northwest\u00a0and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition,\u00a0Par Pacific\u00a0operates the Hele retail brand in\u00a0Hawaii\u00a0and the \u201cnomnom\u201d convenience store chain in the\u00a0Pacific Northwest.\u00a0More information is available at www.parpacific.com.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This news release includes certain \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the \u201csafe harbor\u201d from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about the expected timing of the closing of the Transaction and other aspects of the Transaction. Forward-looking statements are subject to certain risks, trends and uncertainties, such as the risks and uncertainties detailed in the Company\u2019s Annual Report on\u00a0Form\u00a010-K,\u00a0Quarterly Reports on\u00a0Form\u00a010-Q\u00a0and other documents that the Company files with the Securities and Exchange Commission. The Company cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should any of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this news release. Except as required by applicable law, the Company does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise.<\/p>\n

\n Investor Contact:<\/strong>
\n
Ashimi Patel Vitter
VP, Investor Relations & Sustainability
(832) 916-3355
apatel@parpacific.com\u00a0\u00a0<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

HOUSTON, Aug. 25, 2026 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) (\u201cPar Pacific\u201d or the \u201cCompany\u201d) announced today that Laramie Energy, LLC (\u201cLaramie Energy\u201d or the \u201cSeller\u201d), in which the Company owns a 46% non-controlling ownership interest, entered into a definitive agreement with a third-party purchaser (the \u201cPurchaser\u201d) to sell substantially all of its oil and gas assets to the Purchaser (the \u201cTransaction\u201d) for $485 million in cash (of which $60 million is payable on the fifth anniversary of the closing date), subject to working capital and other customary closing date adjustments. The Seller is also eligible to receive potential price-contingent earn-out payments from the Purchaser of up to an additional $65 million in the … <\/p>\n

Continue reading “Par Pacific Announces Agreement to Sell Laramie Energy Assets”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-998002","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPar Pacific Announces Agreement to Sell Laramie Energy Assets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/par-pacific-announces-agreement-to-sell-laramie-energy-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Par Pacific Announces Agreement to Sell Laramie Energy Assets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, Aug. 25, 2026 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. 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