Par Pacific Exits Colorado Natural Gas Investment for $146M
Par Pacific Holdings has agreed to sell its 46% noncontrolling stake in Laramie Energy, a natural gas exploration and production company based in western Colorado. The transaction is part of an agreement where Laramie will sell most of its assets to an undisclosed buyer for $485 million. Par Pacific expects to receive approximately $146 million from the deal and could earn up to an additional $30 million through potential earn-out payments. The company has described Laramie as a non-core asset, signaling a strategic shift toward focusing on its refining and retail operations. The transaction is expected to close by the end of 2026. Proceeds from the sale may be used to support Par Pacific’s refining business or enhance its convenience store network across Idaho, Washington, and Hawai'i. Par Pacific has previously emphasized that Laramie offered diversification benefits in past reports but now appears ready to divest this segment as it reallocates capital toward core operations.
Tickers: $PARR
Topics: divestiture energy natural gas