Par Petroleum Corporation operates as a diversified energy company in the United States. Segments The company operates in three segments: Refining, Distribution and Marketing; Natural Gas and Oil Operations; and Commodity Marketing and Logistics Operations. Refining, Distribution and Marketing The Refining, Distribution and Marketing segment consists of a refinery in Kapolei, Hawaii. The refinery produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel and other associated refined products primarily for consumption in Hawaii. The company’s refinery logistics assets include refined products terminals, pipelines, a single point mooring and other associated logistics assets. In addition, the company distributes products though 31 branded retail outlets located across the islands of Oahu, Maui and Hawaii. This business operates the refinery in Kapolei, Hawaii, with approximately 2.4 million barrels of crude oil and feedstock storage and 2.5 million barrels of refined products storage. Its refinery logistics assets include 5 refined products terminals, 27 miles of pipelines, a single point mooring and other associated logistics assets. The company distributes products through three main channels: wholesale, retail and bulk. Its retail distribution business serves 31 Tesoro branded retail sites: 1 card lock facility, 3 sites operated by third parties and 27 company operated convenience stores. Natural Gas and Oil The Natural Gas and Oil segment operations consist primarily of a 33.34% interest in Piceance Energy, LLC (Piceance Energy). Piceance Energy is a joint venture with Laramie Energy II, LLC (Laramie), who owns the remaining interest and manages the day to day operations of the joint venture. Laramie is a Denver-based company primarily focused on finding and developing natural gas reserves from unconventional gas reservoirs within the Rocky Mountain region. Commodity Marketing and Logistics The Commodity Marketing and Logistics segment focuses on sourcing, marketing, transportation and distribution of crude oil and refined products. The company’s logistics capability consists of historical pipeline shipping status, a rail car fleet, and expertise in contracted chartering of tows and barges, with the capability of moving crude oil from land-locked locations in the western U.S. and Canada to the refining hubs in the Midwest, the Gulf Coast, and the East Coast regions of the U.S. The company also leases a fleet of approximately 175 rail cars. Environmental Regulation The company’s activities with respect to exploration and production of oil and natural gas, including drilling wells, and the operation and construction of pipelines, plants, and other facilities for extracting, transporting, processing, treating, or storing natural gas, crude oil, and other petroleum products, are subject to stringent environmental regulation by state and federal authorities, including the United States Environmental Protection Agency. The company generates wastes, including hazardous wastes, which are subject to regulation under the federal Resource Conservation and Recovery Act and state statutes. History Par Petroleum Corporation was founded in 1984.
par petroleum corp (PARR:NYSE Amex)
800 Gessner Road
Houston, TX 77024
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