Par Pacific to receive $146 million from Laramie Energy asset sale

Par Pacific Holdings, Inc., a Houston-based company, has announced a significant transaction involving Laramie Energy, a company in which Par Pacific holds a 46% non-controlling ownership. Laramie Energy has agreed to sell substantially all of its oil and gas assets for $485 million in cash, with an additional $60 million payable on the fifth anniversary of the closing date.

This cash sale represents approximately $146 million of the total transaction consideration, with the rest to be allocated to seller debt repayment, closing adjustments, and fees. Par Pacific anticipates receiving up to an additional $30 million from potential earn-out payments, contingent on the company's performance over the next five years following the closing date.

The transaction is expected to be finalized by the end of 2026, pending regulatory approvals and meeting all customary closing conditions. Upon completion, Par Pacific will divest itself of its investment in Laramie Energy.