Par Pacific Announces Acquisition Of Exxonmobil Billings Refinery And Associated Marketing And Logistics Assets
Acquiring Company
Par Pacific
Acquired Company
Ofload
HoustonEnergyOil And GasRenewable EnergySoftwareTransportationLogisticsDescription
Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced that it has signed a definitive agreement to acquire the 63,000 bpd Billings refinery and associated marketing and logistics assets (collectively, the “Billings Assets”) from ExxonMobil Corporation and two of its subsidiaries for a base purchase price of $310 million, plus hydrocarbon and other inventory to be valued at closing. Par Pacific expects to fund the acquisition with cash on hand and availability under existing credit facilities, based on liquidity of approximately $495 million on September 30, 2022. Hydrocarbon inventory is expected to be financed by a new working capital facility. The transaction is expected to be immediately accretive to Adjusted Net Income and Free Cash Flow per share and is expected to close in the second quarter of 2023, subject to customary closing conditions.
Quick answer
Par Pacific is acquiring Ofload and ExxonMobil Billings Refinery Marketing Assets, announced October 20, 2022. Par Pacific is based in Houston, Texas, United States.
- How much did Par Pacific pay for Ofload?
- The deal value was not disclosed.
- What does Par Pacific do?
- Par Pacific Holdings, Inc. is a growing energy company providing both renewable and conventional fuels to the western United States.
- Where are Par Pacific and Ofload based?
- Par Pacific is based in Houston, Texas, United States.
- Who are the decision-makers at Par Pacific?
- Fundz holds 1 contact at Par Pacific. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Ofload?
Ofload was acquired by Par Pacific, based in Houston. The deal was reported on October 20, 2022. Par Pacific Holdings, Inc. is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific is publicly traded (PARR) and operates in Energy.
When did Par Pacific acquire Ofload?
Par Pacific's acquisition of Ofload was reported on October 20, 2022. Par Pacific Holdings, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Ofload do?
Ofload is Australia’s leading digital road freight service, helping businesses achieve efficient, flexible and sustainable supply chains, with a nation-wide carrier network servicing over 10,000 monthly shipments of all types of road freight. It is privately held, operating in Software.
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