Par Pacific Announces 2022 Capital Expenditure and Turnaround Outlay Guidance

Rhea-AI Summary

Par Pacific Holdings (NYSE: PARR) announced its 2022 capital expenditure and turnaround guidance, estimating a total range of $70 million to $80 million. Key allocations include approximately $30 million for refinery turnaround costs in Washington during Q1 2022. Additionally, around $35 million will be directed toward maintenance, regulatory, and IT needs, with $10 million earmarked for growth capital investments.

Positive

• Total capital expenditure guidance of $70-$80 million indicates planned investment in operations.
• Allocation of $30 million for refinery turnaround shows commitment to maintaining operational integrity.

Negative

• None.

HOUSTON, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced its 2022 capital expenditure and turnaround outlay guidance with a range of $70 million to $80 million. Approximately $30 million in Washington refinery turnaround outlays are expected during the first quarter of 2022. Remaining capital expenditures include approximately $35 million of maintenance, regulatory, and IT spend and approximately $10 million of growth capital.

	2022 Capital Expenditure and Turnaround Outlay Guidance
$ in Millions
Turnaround Outlay	30
Maintenance, Regulatory, and IT	35
Growth	10
Total Capital Expenditure and Turnaround Outlay	$70-80

About Par Pacific

Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, owns and operates market-leading energy, infrastructure, and retail businesses. Par Pacific’s strategy is to acquire and develop businesses in logistically complex markets. Par Pacific owns and operates one of the largest energy networks in Hawaii with 94,000 bpd of operating refining capacity, a logistics system supplying the major islands of the state and 90 retail locations. In the Pacific Northwest and the Rockies, Par Pacific owns and operates 60,000 bpd of combined refining capacity, related multimodal logistics systems, and 30 retail locations. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com.

For more information contact:
Ashimi Patel
Senior Manager, Investor Relations
(832) 916-3355
apatel@parpacific.com

 

FAQ

What is Par Pacific's 2022 capital expenditure guidance?

Par Pacific's 2022 capital expenditure guidance is between $70 million and $80 million.

How much is allocated for the Washington refinery turnaround?

Approximately $30 million is expected to be spent on the Washington refinery turnaround in Q1 2022.

What are the main categories of Par Pacific's capital expenditures for 2022?

The main categories include $30 million for turnaround outlays, $35 million for maintenance, regulatory, and IT expenses, and $10 million for growth capital.

What is the ticker symbol for Par Pacific?

The ticker symbol for Par Pacific is PARR.