secwatch.observer — SEC 8-K summary
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Issuer:     PAR PACIFIC HOLDINGS, INC. (PARR)
CIK:        0000821483
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0000821483-22-000069
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Par Pacific to acquire ExxonMobil's Billings refinery and logistics assets for $310M base purchase price
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- Base purchase price $310M plus hydrocarbon inventory valued at closing; funded by cash on hand and existing credit lines ($495M liquidity at 9/30/22).
- Billings refinery capacity 63,000 bpd; total throughput capacity increases to ~218,000 bpd, expanding geographic diversification.
- Expects over $30M in commercial and cost synergies; transaction immediately accretive to Adjusted Net Income and Free Cash Flow per share.
- Assets include 65% cogeneration interest, 70-mile Silvertip Pipeline (55k bpd), 40% of Yellowstone pipeline (750-mile, 65k bpd), seven terminals, 4.1 MMbbls storage.
- Expected close Q2 2023 subject to customary conditions including HSR waiting period; long-term ExxonMobil-branded fuels marketing arrangement for ~300 retail locations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821483/000082148322000069/0000821483-22-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821483/000082148322000069/parr-20221020.htm
  HTML page:      https://secwatch.observer/filing/0000821483-22-000069

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