Par Pacific Holdings, Inc. reports developments for an energy company that produces and supplies conventional and renewable fuels in the western United States. Its updates commonly cover refining results, throughput, adjusted margins, capital spending, turnaround activity, liquidity and share repurchases across operations in Hawaii, the Pacific Northwest and the Rockies.
The company’s news also follows its logistics network, retail fuel and convenience brands, renewable fuels activity in Hawaii, and its ownership interest in Laramie Energy, LLC, a Western Colorado natural gas producer. Recurring announcements include quarterly earnings, conference-call schedules, debt and credit matters, refinery reliability projects, and commercial partnerships tied to transportation fuels and sustainable aviation fuel supply chains.
Par Pacific Holdings (NYSE: PARR) announced its 2022 capital expenditure and turnaround guidance, estimating a total range of $70 million to $80 million. Key allocations include approximately $30 million for refinery turnaround costs in Washington during Q1 2022. Additionally, around $35 million will be directed toward maintenance, regulatory, and IT needs, with $10 million earmarked for growth capital investments.
HOUSTON, Nov. 23, 2021 – Par Pacific Holdings (NYSE: PARR) announced participation in upcoming conferences. Management will present at the Cowen 2021 Energy Summit on December 1, 2021, virtually, and at the Goldman Sachs 2022 Global Energy and Clean Technology Conference on January 6, 2022, in Aventura, FL. The latest investor presentation is accessible on their website. Par Pacific operates a significant energy network in Hawaii with a refining capacity of 94,000 bpd and has a combined refining capacity of 60,000 bpd in the Pacific Northwest and Rockies.
Par Pacific Holdings, Inc. (NYSE: PARR) reported a record net income of $81.8 million or $1.37 per diluted share for Q3 2021, compared to a net loss of $14.3 million in Q3 2020. Adjusted net income was $45.1 million, an increase from an adjusted net loss of $56.5 million in the prior year. The company’s adjusted EBITDA reached $84.7 million, up from $(16.1) million in Q3 2020. The refining segment showed substantial improvement with an operating income of $86.4 million and throughput of 81 Mbpd. Total liquidity stood at $276.8 million.
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Par Pacific Holdings (NYSE: PARR) has appointed Phil Davidson to its Board of Directors, effective October 25, 2021. Davidson, a retired four-star Admiral, previously served as Commander of the United States Indo-Pacific Command. His extensive experience in military and governmental affairs is expected to enhance the Board's strategic perspectives. Par Pacific, based in Houston, Texas, operates energy and retail businesses, including significant refining capacities in Hawaii and the Pacific Northwest.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its third quarter 2021 results after market close on November 3, 2021. An investor conference call is scheduled for November 4, 2021, at 9:00 a.m. Central Time. Par Pacific operates a significant energy network with 94,000 bpd refining capacity in Hawaii and 60,000 bpd in the Pacific Northwest and Rockies. The company also holds a 46% stake in Laramie Energy, involved in natural gas production in Western Colorado.
Par Pacific Holdings (NYSE: PARR) reported its financial results for Q2 2021, revealing a net loss of $109.0 million, or $(1.84) per diluted share, compared to a net loss of $40.6 million in Q2 2020. The adjusted net loss was $48.0 million, an improvement from $90.8 million the previous year. Adjusted EBITDA was $(6.7 million). The quarter was impacted by a $27.3 million mark-to-market expense related to RINs. While the refining segment faced an operating loss of $99.1 million, logistics showed growth with operating income of $14.5 million.
Par Pacific Holdings, Inc. (NYSE: PARR) announced the appointment of Anthony Chase to its Board of Directors, effective July 29, 2021. Chairman Robert Silberman expressed confidence that Mr. Chase's extensive experience across various industries will enhance the Board's skill set and support the company's growth objectives. Mr. Chase is the Chairman and CEO of ChaseSource, L.P., and has significant board experience with other major companies. Par Pacific operates a leading energy network, particularly in Hawaii, and has substantial refining capacities.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its second quarter 2021 results will be released after market close on August 4, 2021. A conference call for investors is scheduled for August 5, 2021, at 9:00 a.m. Central Time. The call will include a discussion of the earnings results, and the full text will be available on Par Pacific's website. The company operates significant energy networks in Hawaii and the Pacific Northwest, with a total refining capacity of 154,000 bpd and 121 retail locations.
Par Pacific Holdings, Inc. (NYSE: PARR) has successfully paid down $85 million in principal debt, enhancing its financial position. The company redeemed $36.75 million of its Senior Secured Notes due 2026 at a premium, leaving $68.25 million outstanding. Additionally, it fully paid $48.7 million of its Convertible Senior Notes due 2021. Par Hawaii Refining, LLC has entered a supply agreement with J. Aron & Company, effective until May 31, 2024. CFO Will Monteleone stated that these efforts contribute to their capital allocation strategy while maintaining over $200 million in liquidity.