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Par Pacific Holdings Successfully Closes $270M Acquisition of Wyoming Refining Company and Related Logistics Assets

Par Pacific Holdings, Inc., July 20, 2016

Par Pacific Holdings, Inc. recently announced that it has successfully completed its acquisition of Hermes Consolidated, LLC (dba Wyoming Refining Company) for a total consideration of approximately $271.4 million, including the assumption of approximately $58 million of debt (the "Acquisition").  The refinery is located in Newcastle, Wyoming and has a processing capacity of 18,000 barrels per day (bpd), as well as related logistics assets throughout the region. One of Wyoming Refining Company's primary downstream markets is the Rapid City, South Dakota area, which has several national parks and monuments in the region that attract millions of visitors annually, particularly in the summer months.

"This accretive acquisition adds geographic diversification and demonstrates the continuing execution of our growth strategy," said William Pate, Par Pacific's President and Chief Executive Officer. "The refinery combined with the logistics assets gives us access to advantaged feedstocks and growing niche refined products markets. We are pleased to welcome Wyoming Refining's management and employees to the Par Pacific organization and look forward to future success."
 

About Par Pacific Holdings, Inc.

Par Pacific Holdings, Inc., based in Houston, Texas, is a growth-oriented company that manages and maintains interests in energy and infrastructure businesses. Par Pacific's business is organized into three primary segments of refining, retail and logistics. Par Pacific has refining and logistics assets in Hawaii and Wyoming and a retail distribution network in Hawaii. Par Pacific also owns an equity investment in Laramie Energy, LLC, a joint venture entity focused on producing natural gas inGarfield, Mesa and Rio Blanco Counties, Colorado. In addition, Par Pacific transports, markets and distributes crude oil from theWestern United States and Canada to refining hubs in the Midwest, Gulf Coast and East Coast. More information is available at www.parpacific.com.  
 


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