Welcome to our dedicated page for Par Pacific Holdings news (Ticker: PARR), a resource for investors and traders seeking the latest updates and insights on Par Pacific Holdings stock.
Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a dynamic energy company focused on the acquisition, operation, and management of energy and infrastructure businesses. With a diverse portfolio, Par Pacific plays a significant role in the energy sector, providing both renewable and conventional fuels across the western United States.
Par Pacific operates one of the largest energy infrastructure networks in Hawaii, featuring a 94,000-bpd refinery, a comprehensive logistics network serving the major islands, and 90 retail locations under the Hele brand. In Wyoming, the company owns a refinery and associated logistics network catering to a niche market.
Moreover, Par Pacific owns 46% of Laramie Energy, LLC, which focuses on natural gas operations in the Piceance Basin in Western Colorado. The company also extends its reach into the Pacific Northwest and the Rockies, operating an extensive energy infrastructure network, including 7.6 million barrels of storage and multiple marine, rail, rack, and pipeline assets.
Under its refining segment, Par Pacific produces ultra-low-sulfur diesel, gasoline, jet fuel, marine fuel, and other refined products, generating maximum revenue from this segment. Through its retail segment, the company operates convenience stores like the 'nomnom' chain and supplies ExxonMobil-branded fuel retail stations. The logistics segment ensures efficient crude shipments to refineries and the export of finished products.
Recent notable achievements include a new intermediation financing agreement with Citigroup Energy Inc. for its Kapolei, Hawaii refinery and the initiation of a sweepstakes for nomnom rewards members featuring a trip to Colorado. These strategic moves underline Par Pacific's dedication to growth and innovation in the energy sector.
With a strong business outlook, robust balance sheet, and a talented management team led by CEO Will Monteleone, Par Pacific is well-positioned for future growth, driving shareholder value and maintaining its commitment to operational excellence.
Par Pacific Holdings, Inc. (NYSE: PARR) announced it will release its first quarter 2023 results on May 3, 2023, after market close. This will be followed by an investor conference call on May 4, 2023, at 9:00 a.m. Central Time. The conference can be accessed via dial-in or online at Par Pacific's website. The company owns and operates significant energy and retail businesses in Hawaii and the Pacific Northwest, boasting a refining capacity of 94,000 bpd in Hawaii and 61,000 bpd in the Pacific Northwest. In addition, Par Pacific holds a 46% stake in Laramie Energy, a natural gas producer in Western Colorado. This financial update underscores the company's operational scale and strategic positioning within niche markets.
Par Pacific Holdings, Inc. (NYSE: PARR) announced participation in the Piper Sandler 23rd Annual Energy Conference on March 21, 2023, in Las Vegas. The management team will highlight Par Pacific's strategic focus on acquiring and developing niche market businesses in the energy sector.
Par Pacific owns one of Hawaii's largest energy networks, with 94,000 bpd refining capacity and 90 retail locations. Additionally, it operates 61,000 bpd in the Pacific Northwest and Rockies and holds a 46% stake in Laramie Energy, a natural gas production company in Colorado. For more details, visit www.parpacific.com.
Par Pacific Holdings, Inc. (NYSE: PARR) announced the results of its cash tender offers for two series of senior secured notes, totaling approximately $312 million. The offers expired on February 23, 2023, with about 92.74% of the 2025 Notes and 92.73% of the 2026 Notes validly tendered. The company will accept and pay for these notes, pending the successful raising of at least $550 million through a private term loan due 2030. Par Pacific has also exercised its optional redemption rights for the outstanding notes, satisfying the indentures on the settlement date.
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