Laramie Energy Sells Oil and Gas Assets for $485 Million

Par Pacific Holdings, Inc. will exit its investment in Laramie Energy following a definitive agreement for Laramie Energy to sell substantially all of its oil and gas assets to a third-party purchaser. The transaction is valued at $485 million in cash, with $60 million of that amount payable on the fifth anniversary of the closing date.

Laramie Energy may receive an additional $65 million in price-contingent earn-out payments over the five years following the initial sale. As a 46% non-controlling owner, Par Pacific expects to receive approximately $146 million from the sale after accounting for fees, closing adjustments, and seller debt repayment.

This payout to Par Pacific includes $27.5 million due on the fifth anniversary of the closing, and the company remains eligible for up to $30 million in earn-out payments. The transaction is expected to close by the end of 2026, pending regulatory approvals.