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 the appointment of Anthony Chase to its Board of Directors, effective July 29, 2021. Chairman Robert Silberman expressed confidence that Mr. Chase's extensive experience across various industries will enhance the Board's skill set and support the company's growth objectives. Mr. Chase is the Chairman and CEO of ChaseSource, L.P., and has significant board experience with other major companies. Par Pacific operates a leading energy network, particularly in Hawaii, and has substantial refining capacities.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its second quarter 2021 results will be released after market close on August 4, 2021. A conference call for investors is scheduled for August 5, 2021, at 9:00 a.m. Central Time. The call will include a discussion of the earnings results, and the full text will be available on Par Pacific's website. The company operates significant energy networks in Hawaii and the Pacific Northwest, with a total refining capacity of 154,000 bpd and 121 retail locations.
Par Pacific Holdings, Inc. (NYSE: PARR) has successfully paid down $85 million in principal debt, enhancing its financial position. The company redeemed $36.75 million of its Senior Secured Notes due 2026 at a premium, leaving $68.25 million outstanding. Additionally, it fully paid $48.7 million of its Convertible Senior Notes due 2021. Par Hawaii Refining, LLC has entered a supply agreement with J. Aron & Company, effective until May 31, 2024. CFO Will Monteleone stated that these efforts contribute to their capital allocation strategy while maintaining over $200 million in liquidity.
Par Pacific Holdings (NYSE: PARR) will present at three virtual conferences in June 2021:
- June 8: RBC Capital Markets Global Energy, Power & Infrastructure Conference
- June 10: TPH Hotter ‘N Hell Energy Conference
- June 23: JPM Energy, Power and Renewables Conference
Investors can access the latest presentation on Par Pacific's website. The company operates significant energy and retail businesses with a focus on logistically complex markets, including a substantial network in Hawaii and operations in the Pacific Northwest and Rockies.
Par Pacific Holdings (NYSE: PARR) announced that Will Monteleone, Chief Financial Officer, will present virtually and hold 1x1 meetings with investors at the Goldman Sachs 6th Annual Credit and Leveraged Finance Conference on May 17, 2021. The latest investor presentation can be accessed on the company's website. Par Pacific operates substantial energy and retail businesses, including a significant refining capacity in Hawaii and the Pacific Northwest, alongside a stake in Laramie Energy, a natural gas production company.
Par Pacific Holdings reported a net loss of $62.2 million for Q1 2021, translating to $(1.15) per diluted share, marking an improvement from a net loss of $222.3 million in the same quarter of 2020. Adjusted EBITDA stood at $(43.3) million, significantly down from $13.7 million year-on-year. The refining segment faced an operating loss of $90.9 million, although it was an improvement compared to the previous year’s $168.6 million loss. The company executed an equity offering, raising $87.4 million in March 2021, contributing to a cash balance of $214.7 million as of March 31, 2021.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its first quarter 2021 results on May 5, 2021, post market close.
A conference call for investors is scheduled for May 6, 2021, at 9:00 a.m. Central Time. Interested participants can join by dialing 1-866-807-9684 toll-free.
Par Pacific operates significant energy assets including a major network in Hawaii with 94,000 bpd refining capacity and additional operations in the Pacific Northwest and Rockies.
Details for accessing the webcast and replay are available on the company’s website.
Par Pacific Holdings, Inc. (NYSE: PARR) has priced a public offering of 5,000,000 shares of common stock at $16.00 per share, with a 30-day option for underwriters to purchase an additional 750,000 shares. The offering is set to close on March 19, 2021, pending customary conditions. Proceeds will be used for general corporate purposes, including debt repayment and capital expenditures. J.P. Morgan and Goldman Sachs are the lead bookrunners for the offering, which is made under an effective shelf registration statement.
Par Pacific Holdings, Inc. (NYSE: PARR) announced a public offering of 5,000,000 shares of common stock, with an option for underwriters to purchase an additional 750,000 shares. The proceeds will be allocated to general corporate purposes, including repaying debt and funding capital expenditures. The offering is managed by J.P. Morgan and Goldman Sachs, pending market conditions. This move follows an effective shelf registration statement filed with the SEC.
Par Pacific Holdings, Inc. (NYSE: PARR) announced participation in several upcoming virtual conferences throughout March 2021. Key events include the Credit Suisse 26th Annual Energy Summit on March 2-3, the BofA Securities 2021 Refining Conference on March 10, and the 49th Annual Scotia Howard Weil Energy Conference on March 24. Investors can access the latest presentation on the investor relations section of Par Pacific’s website. The company operates significant energy and retail businesses across Hawaii and the Pacific Northwest, with a refining capacity of 94,000 bpd in Hawaii and 60,000 bpd in the Rockies.
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