- Par Pacific (NYSE:PARR) agrees to acquire Wyoming Refining Co. for ~$271M, including debt.
- Wyoming Refining owns and operates the 18K bbl/day Newcastle, Wyo., refinery and related logistics assets including a 140-mile crude gathering system, 40 miles of refined product pipelines, and a jet fuel terminal in Rapid City, S.D.
- PARR expects the refinery business to generate ~$40M of annual adjusted EBITDA based on current forward crack spreads, and the logistics operations to consistently generate ~$10M of annual adjusted EBITDA.