Par Pacific Holdings will receive approximately $146 million from the sale of substantially all oil and gas assets held through its 46% non-controlling stake in Laramie Energy. The transaction, valued at $485 million in cash, includes a $60 million deferred payment due five years after closing and potential earn-out payments totaling up to $65 million between the first and fifth anniversaries, subject to working capital adjustments and customary closing conditions.
The company expects to receive $27.5 million of the deferred amount and up to $30 million from earn-out payments. Par Pacific will terminate its investment in Laramie Energy upon completion of the deal, which is scheduled for the end of 2026 pending regulatory approvals and standard closing conditions.
Laramie Energy's assets include oil and gas operations, with the transaction structured to maximize value realization through deferred and contingent payments. Par Pacific, based in Houston, operates refining capacity of 219,000 barrels per day across four facilities in Hawaii, the Pacific Northwest, and the Rocky Mountains, alongside a storage network of 13 million barrels and integrated infrastructure including marine, rail, and pipeline assets.
