Par Pacific to Sell Laramie Energy for $485 Million
The Houston-based refiner will exit its 46% stake in the Western Colorado natural gas producer and book about $146 million of the cash consideration.
Par Pacific Holdings, Inc. (PARR) agreed to sell Laramie Energy, LLC, a natural gas production company with operations concentrated in Western Colorado, for $485 million in cash.
The all-cash transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.
Par Pacific will exit its investment in Laramie Energy and receive approximately $146 million of the transaction consideration, net of seller debt repayment and closing adjustments and fees.
The Houston-based energy company has described itself as a growing provider of both renewable and conventional fuels to the western United States. It owns and operates 219,000 barrels per day of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, along with 13 million barrels of storage and marine, rail, rack and pipeline assets.
Par Pacific also operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest.
The company had owned a 46% interest in Laramie Energy, which it characterized as a natural gas production company with operations and assets concentrated in Western Colorado.
The sale removes that natural gas production stake from Par Pacific’s portfolio. Par Pacific will receive about $146 million of the $485 million cash consideration after seller debt repayment and closing adjustments and fees.
Closing is expected by the end of 2026, subject to regulatory approvals and the satisfaction of customary closing conditions.