Par Pacific Announces 2026 Capital Expenditure Guidance
Rhea-AI Summary
Par Pacific (NYSE: PARR) announced 2026 capital expenditure and turnaround outlay guidance of $190 million to $220 million.
The guidance breaks down to:
- Turnarounds: $50–60 million
- Maintenance & catalyst: $105–115 million (includes about $20 million catalyst and ~$10 million Washington refinery planned maintenance)
- Growth: $35–45 million (includes about $30 million refining and logistics and ~$10 million retail)
Other planned items include approximately $15 million for Hawaii single point mooring (SPM) investments and ~$10 million for Montana reliability investments.
Positive
- 2026 guidance provided: $190–220 million total capex and turnaround outlay
- Growth investments of approximately $30 million refining/logistics and $10 million retail
- Planned reliability investments include $15 million SPM (Hawaii) and $10 million Montana
Negative
- Maintenance & catalyst budget up to $115 million, a large near‑term cash outlay
- Turnarounds budgeted $50–60 million, representing a concentrated short‑term spending peak
News Market Reaction 1 Alert
On the day this news was published, PARR declined 4.02%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Most peers in Oil & Gas Refining & Marketing were down, with DK, WKC, CAPL and SGU showing declines while DKL was modestly positive. Pre-news, PARR’s -0.26% move and elevated volume suggest more stock-specific positioning than a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 17 | SAF partnership | Positive | -1.1% | SAF supply chain partnership targeting Hawaii-made fuel by Q1 2026. |
| Dec 11 | Debt repricing | Positive | -2.4% | Reduced term loan margins lowering interest costs on existing debt. |
| Nov 04 | Q3 2025 earnings | Positive | -1.6% | Strong quarterly earnings with high net income and EBITDA metrics. |
| Oct 21 | JV closing | Positive | -1.9% | Closing of Hawaii Renewables JV and equity sale to partners. |
| Oct 13 | Earnings schedule | Neutral | +1.3% | Announcement of Q3 2025 release date and conference call details. |
Recent history shows multiple positive corporate developments followed by negative 24-hour price reactions, indicating a pattern of selling into good news.
Over the last few months, Par Pacific reported several constructive developments, including a strong Q3 2025 earnings report with robust profitability and liquidity, a renewable fuels joint venture in Hawaii, and a sustainable aviation fuel partnership targeting initial deliveries in Q1 2026. The company also repriced its term loan to lower borrowing costs and communicated earnings call logistics. Despite largely positive fundamentals, the stock tended to trade lower in the first 24 hours after these announcements, highlighting a recent pattern of post-news weakness.
Market Pulse Summary
This announcement details Par Pacific’s 2026 capital framework, with total expenditures of $190–$220M allocated across turnarounds, maintenance, catalyst, and growth projects, including targeted work in Washington, Hawaii, and Montana. Placed alongside recent strong earnings, debt repricing, and renewable fuel initiatives, the guidance helps frame how the company intends to deploy capital operationally. Investors may watch for future updates to this plan, execution on specific projects, and how spending levels track against cash generation and balance sheet metrics.
AI-generated analysis. Not financial advice.
HOUSTON, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced its 2026 capital expenditure and turnaround outlay guidance with a range of
| 2026 Capital Expenditure and Turnaround Outlay Guidance | |
| $ in millions | |
| Turnarounds 1 | |
| Maintenance & Catalyst 2 | 105 – 115 |
| Growth 3 | 35 – 45 |
| Total Capital Expenditure and Turnaround Outlay | |
- Includes approximately
$10 million in Washington refinery planned maintenance. - Includes approximately
$20 million in catalyst costs,$15 million in Hawaii single point mooring (SPM) investments, and$10 million in Montana reliability investments. - Includes approximately
$30 million in refining and logistics growth investments and$10 million in retail growth investments.
About Par Pacific
Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. Par Pacific also owns
Forward-Looking Statements
This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about Par Pacific’s anticipated 2026 capital expenditures and turnaround costs. We cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. We do not intend to update or revise any forward-looking statements made herein or any other forward-looking statements because of new information, future events or otherwise. We further expressly disclaim any written or oral statements made by a third party regarding the subject matter of this news release.
For more information contact:
Ashimi Patel Vitter
VP, Investor Relations and Sustainability
(832) 916-3355
apatel@parpacific.com
FAQ
What is Par Pacific's 2026 capital expenditure guidance (NYSE: PARR)?
How is the $190–220M 2026 guidance for PARR allocated?
How much did Par Pacific plan for catalyst and Washington maintenance in 2026?
What growth projects are included in Par Pacific's 2026 capex guidance?
Does Par Pacific's 2026 guidance include Hawaii SPM and Montana investments?
What is the impact timeframe for Par Pacific's 2026 turnarounds (PARR)?
