Par Pacific to Sell Stake in Laramie Energy Assets for $485 Million
Par Pacific has announced plans to sell its stake in the oil and gas assets of Laramie Energy, which have been agreed upon for a $485 million cash deal with an unnamed buyer. The transaction is expected to allow Par Pacific to exit its investment entirely, as it holds a 46% interest in these assets. The sale comes after post-market hours on Tuesday and marks a strategic move by the company to divest non-core holdings amid ongoing market volatility in energy sectors. This decision could provide liquidity for Par Pacific while reducing exposure tied to Laramie Energy's operations.
Tickers: $PARR
Topics: asset sale investment exit oil and gas