Par Pacific Holdings said it will receive approximately $146 million from the sale of substantially all of Laramie Energy’s oil and gas assets, following the $485 million cash transaction announced on Wednesday.
The Houston-based refining and energy infrastructure company holds a 46% non-controlling stake in Laramie Energy and will exit the investment upon closing. Par Pacific’s net proceeds, after accounting for seller debt repayment, closing adjustments and fees, are expected to total $146 million, with $27.5 million payable on the fifth anniversary of the closing date.
Laramie Energy entered into a definitive agreement to sell its assets for $485 million in cash, including a $60 million payment due five years after closing and potential earn-out payments of up to $65 million in aggregate over the first five years. Par Pacific is eligible to receive up to approximately $30 million of those earn-outs.
The transaction remains subject to regulatory approvals and customary closing conditions, with an expected completion by the end of 2026. Par Pacific operates 219,000 barrels per day of refining capacity across four sites in Hawaii, the Pacific Northwest and the Rockies, alongside an energy infrastructure network with 13 million barrels of storage and integrated marine, rail, rack and pipeline assets.
