Par Pacific Announces Agreement to Sell Laramie Energy Assets
Par Pacific announced that its 46%-owned affiliate Laramie Energy has entered into a definitive agreement to sell substantially all of its oil and gas assets to a third-party purchaser for $485 million in cash. Net of debt repayment and fees, Par Pacific expects to receive approximately $146 million in proceeds and is eligible for up to an additional $30 million in earn-out payments, effectively exiting its investment in Laramie.
Key figures
- Deal Value Usd
- 485000000
- Parr net proceeds
- 146000000
- Ownership interest
- 46%
- Parr earnout potential
- 30000000
AI analysis
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