Par Pacific Holdings will receive approximately $146 million from the sale of substantially all of Laramie Energy’s oil and gas assets, following the completion of the $485 million transaction.
The agreement, announced on Tuesday, includes a $60 million payment due five years after closing, subject to customary adjustments, alongside potential earn-out payments of up to $65 million over the same period. Par Pacific, which holds a 46% non-controlling interest in Laramie Energy, will fully exit its investment upon closing.
Par Pacific expects to net $146 million from the deal after accounting for seller debt repayment, closing adjustments, and fees. Of this amount, roughly $27.5 million is tied to the fifth-anniversary payment, with an additional $30 million eligible under earn-out terms.
The transaction remains subject to regulatory approvals and customary closing conditions, with an expected completion by the end of 2026. Par Pacific operates four refineries with a combined capacity of 219,000 barrels per day across Hawaii, the Pacific Northwest, and the Rockies, supported by a 13 million-barrel storage network and integrated logistics assets.
