Par Pacific completed the acquisition of Wyoming Refining from Black Elk Refining for $271m.

Par Pacific, a growth-oriented company that manages and maintains interests in energy and infrastructure businesses, completed the acquisition of Wyoming Refining, a provider of oil and gas services, from Black Elk Refining, that owns and operates an oil refinery in northeast Wyoming, for $271m. "This acquisition fits perfectly with our previously disclosed acquisition strategy by utilizing our tax attributes and capital sources to build on our refining and logistics capabilities. The refinery enjoys attractive crude oil sourcing given its proximity to robust Powder River Basin production, pipeline connectivity to a niche refined products market, and a gasoline-oriented yield in a market with significant summer gasoline needs. The logistics infrastructure provides strategic access to crude and refined products markets, which we expect will generate stable cash flows and contribute to our Logistics segment profitability," William Pate, Par Pacific's President and CEO.