Par Pacific Holdings

Is Par Pacific Holdings publicly traded?
Yes, Par Pacific Holdings is publicly traded on the New York Stock Exchange under the ticker symbol PARR. As of February 2026, there were approximately 49 million shares outstanding. The company has been listed since its founding in 2012.

Who is the CEO of Par Pacific Holdings?
Will Monteleone is the President and Chief Executive Officer of Par Pacific Holdings. He was appointed CEO in May 2024, succeeding founding CEO William Pate. Monteleone has been with Par Pacific since 2013, previously serving as EVP and CFO and then as President. He began his career at Banc of America Securities and worked at Equity Group Investments before joining Par Pacific.

What brands does Par Pacific own?
Par Pacific owns and operates three retail brands: Hele (a proprietary fuel and convenience store brand in Hawaii), nomnom (a proprietary convenience store and fuel brand in Washington and Idaho), and 76 (a licensed fuel brand used at Hawaii retail locations under an exclusive license from Phillips 66). The company also operates Kauai Automated Fuels cardlock locations.

Where does Par Pacific operate?
Par Pacific operates refineries in four locations: Kapolei, Hawaii; Billings, Montana; Tacoma, Washington; and Newcastle, Wyoming. The company operates retail locations in Hawaii, Washington, and Idaho. Its logistics network spans the Pacific, Pacific Northwest, and Rocky Mountain regions.

What is Par Pacific's annual revenue?
Par Pacific reported revenue of $4.79 billion for full year 2025. Net income attributable to stockholders was $369.4 million, or $7.16 per diluted share. Adjusted EBITDA was $633.5 million. In the first half of 2026 alone, revenue reached $4.79 billion, driven by strong Q2 2026 refining margins.

Does Par Pacific own any other energy assets?
Yes, Par Pacific owns 46% of Laramie Energy, LLC, a natural gas production company with operations concentrated in western Colorado. This equity investment gives Par Pacific exposure to natural gas production alongside its refining and retail operations.

How many refineries does Par Pacific operate?
Par Pacific operates four refineries with total crude oil throughput capacity of 219,000 barrels per day. The facilities are located in Kapolei, Hawaii (94,000 bpd), Billings, Montana (63,000 bpd), Tacoma, Washington (42,000 bpd), and Newcastle, Wyoming (18,000 bpd). In 2025, the refineries processed 187.8 Mbpd of crude oil.

Par Pacific Holdings began in 2012 under the leadership of William Pate, who served as the founding CEO and lead investor. The company was formed with a specific thesis: acquire and develop energy businesses in logistically complex, niche markets where larger competitors saw limited appeal. The company went public on the NYSE under the ticker PARR.

The first major acquisition came in 2013, when Par Pacific acquired a 94,000 barrel-per-day refinery in Kapolei, Hawaii. This acquisition established the foundation of the company's Hawaii operations and began the buildout of an integrated energy network in the Pacific market. The Hawaii refinery is the only operating refinery in the state, giving Par Pacific a unique competitive position.

In 2016, Par Pacific acquired Wyoming Refining Company for approximately $271.4 million, including the assumption of $58 million in debt. The acquisition included an 18,000 barrel-per-day refinery in Newcastle, Wyoming, and related logistics assets. The strategic rationale was to expand into the Rockies with a refinery that had attractive crude oil sourcing from the Powder River Basin and pipeline connectivity to niche refined products markets.

The company acquired U.S. Oil & Refining Co. in 2019, adding a 42,000 barrel-per-day refinery in Tacoma, Washington. This expanded Par Pacific's Pacific Northwest footprint and added logistics infrastructure including a unit train-capable rail terminal and marine terminal facilities.

In 2023, Par Pacific acquired Par Montana, which included a 63,000 barrel-per-day refinery in Billings, Montana, along with the Silvertip Pipeline, the Yellowstone refined products pipeline, and four wholly owned and three joint venture refined product terminals. This acquisition expanded the company's Rockies presence and added significant logistics infrastructure. The deal price was not publicly disclosed.

The retail segment was built through organic brand development and acquisition. The Hele brand was launched in 2016 in Hawaii and has won several awards as the preferred fuel choice for Hawaii customers. The nomnom convenience store brand operates in Washington and Idaho. The company also holds an exclusive license to use the 76 brand for retail locations in Hawaii, with the license agreement expiring October 31, 2031, unless extended.

In 2024, William Pate retired as CEO after eight years leading the company. Will Monteleone, who had been President since January 2023 and with the company since 2013, was appointed President and CEO at the May 2024 shareholders meeting. Pate remained on the board of directors.

Under Monteleone, the company has focused on operational execution, debt reduction, and renewable fuels. In 2025, Par Pacific successfully executed the Montana turnaround, advanced the Hawaii renewable fuels project toward startup, and repurchased 6.5 million shares at an average price of approximately $19 per share, reducing shares outstanding by 10%. In the second quarter of 2026, the company completed a $500 million Senior Unsecured Notes offering, reducing term debt by more than $130 million.

Par Pacific has positioned itself as a company serving both conventional and renewable fuel markets. The Hawaii renewable fuels project, advanced toward startup in 2025, represents the company's most significant sustainability initiative. The project will enable the Hawaii refinery to produce renewable diesel, reducing the carbon intensity of the fuel supply in Hawaii.

In January 2024, Par Pacific's refineries in Washington and Wyoming received ENERGY STAR certification from the Environmental Protection Agency. The Washington refinery achieved the lowest carbon intensity of any refinery in the world according to the Solomon Energy Intensity Index, a notable operational benchmark.

The company's retail operations include conventional fuel sales, which are inherently carbon-intensive. Par Pacific has not set public science-based emissions reduction targets. The company's ESG disclosures focus on operational efficiency, safety, and the transition toward renewable fuels. The 46% equity investment in Laramie Energy, a natural gas production company, gives Par Pacific exposure to lower-carbon fossil fuels relative to oil.

Par Pacific operates in an industry subject to extensive environmental regulation. The company's refineries must comply with EPA regulations including the Renewable Fuel Standard (RFS). In 2025, Par Pacific received a $199.5 million Small Refinery Exemption benefit, which retroactively relieved the company of certain renewable volume obligations. Small Refinery Exemptions have been a subject of regulatory and political debate, with environmental groups arguing they undermine the RFS program.

The company's Hawaii refinery has faced scrutiny over its environmental impact. As the only refinery in a state with strong environmental consciousness, the facility operates under close public and regulatory oversight. The transition toward renewable fuels production is partly a response to this regulatory and community pressure.

Par Pacific has not been subject to major enforcement actions or litigation that would be considered material to its financial results. The company's safety record and environmental compliance have been generally consistent with industry standards for small-to-mid-size refiners.