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Divestiture • Oil/Gas Exploration

Par Pacific Acquires U.S. Oil & Refining Co.

On November 27, 2018, Par Pacific acquired oil/gas exploration company U.S. Oil & Refining Co. from TrailStone for 358M USD

Acquisition Context
  • This is Par Pacific’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Par Pacific’s largest (disclosed) transaction.
  • This is Par Pacific’s 3rd transaction in the United States.
  • This is Par Pacific’s 1st transaction in Washington.

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M&A Deal Summary
Date November 27, 2018
Target U.S. Oil & Refining Co.
Sector Oil/Gas Exploration
Buyer(s) Par Pacific
Sellers(s) TrailStone
Deal Type Divestiture
Deal Value 358M USD

Target Company

U.S. Oil & Refining Co.

Tacoma, Washington, United States
U.S. Oil & Refining Co. is a producer and supply of high-quality motor, aviation and marine fuels and asphalt in the Puget Sound market. With refining capacity in excess of 39,000 barrels per stream day and storage capacity exceeding 2.7 million barrels, the company is well positioned to help meet the region's growing energy needs. U.S. Oil & Refining was founded in 1952 and is based in Tacoma, Washington.
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Buyer Overview 1

Buyer

Par Pacific

Houston, Texas, United States
Category Company
Founded 1984
Sector Energy Services and Equipment
Employees1,787
Revenue 8.0B USD (2024)
DESCRIPTION

Par Pacific is a provider of petroleum products. Par, through its subsidiaries, owns and operates a 94,000 bpd refinery with related logistics and retail network in Hawaii. Par also transports, markets and distributes crude oil from Western U.S. and Canada to Hawaii and other refining hubs in the Midwest, the Gulf Coast, and the East Coast. Par Pacific was founded in 1984 and is based in Houston, Texas.

Deal Context for Buyer #
Overall 3 of 4
Sector: Oil/Gas Exploration 2 of 3
Type: Divestiture 3 of 4
State: Washington 1 of 1
Country: United States 3 of 4
Year: 2018 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 Mid Pac Petroleum

Honolulu, Hawaii, United States

Mid Pac Petroleum LLC is a acquisition, distribution and marketing of petroleum products in the State of Hawaii.

Buy $107M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-20 Billings Assets

Texas, United States

ExxonMobil Billings Assets is a high-conversion, complex refinery, which processes low-cost Western Canadian and regional Rocky Mountain crude oil grades.

Buy $310M

Seller Profile 1

SELLER

TrailStone

London, United Kingdom
Category Company
Founded 2013
Sector Renewable Energy
DESCRIPTION

TrailStone is a global renewable energy trading and asset management firm that provides risk management and energy optimization to improve production and financial returns for asset owners. The company offers a fully automated end-to-end renewable power management platform, backed by a successful track record in energy trading. TrailStone was formed in 2013 and is headquartered in London, England.

Deal Context for Seller #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Divestiture 1 of 1
State: Washington 1 of 1
Country: United States 1 of 1
Year: 2018 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-22 MP2 Energy

The Woodlands, Texas, United States

MP2 Energy LLC is a full-service power company with customers in Texas, Illinois, Pennsylvania and Ohio.

Buy -

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