<SEC-DOCUMENT>0000821483-18-000019.txt : 20180323
<SEC-HEADER>0000821483-18-000019.hdr.sgml : 20180323
<ACCEPTANCE-DATETIME>20180323170101
ACCESSION NUMBER:		0000821483-18-000019
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180323
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180323
DATE AS OF CHANGE:		20180323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAR PACIFIC HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000821483
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				841060803
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36550
		FILM NUMBER:		18710822

	BUSINESS ADDRESS:	
		STREET 1:		800 GESSNER ROAD, SUITE 875
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		(281) 899-4800

	MAIL ADDRESS:	
		STREET 1:		800 GESSNER ROAD, SUITE 875
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAR PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	20120907

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELTA PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-kxprojectbluebirdclo.htm
<DESCRIPTION>8-K
<TEXT>
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<div><a name="sB9106D969B49A844F43F509620B16CED"></a></div><div></div><div><br></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WASHINGTON, D.C. 20549 </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">FORM 8-K </font></div><div style="line-height:100%;padding-bottom:2px;text-align:center;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CURRENT REPORT </font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 </font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Date of Report (Date of earliest event reported): March 23, 2018</font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:100%;padding-bottom:2px;text-align:center;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:20pt;"><font style="font-family:inherit;font-size:20pt;font-weight:bold;">Par Pacific Holdings, Inc. </font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Exact name of registrant as specified in its charter) </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:100%;padding-bottom:2px;text-align:center;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:34%;"></td><td style="width:1%;"></td><td style="width:32%;"></td><td style="width:1%;"></td><td style="width:32%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">1-36550</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">84-1060803</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(State or other jurisdiction</font></div><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">of incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(Commission</font></div><div style="padding-bottom:1px;text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(I.R.S. Employer</font></div><div style="padding-bottom:1px;text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:50%;"></td><td style="width:2%;"></td><td style="width:48%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">800 Gessner Road, Suite 875 </font></div><div style="padding-bottom:1px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Houston, Texas</font></div></td><td 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name or former address, if changed since last report) </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:100%;padding-bottom:2px;text-align:center;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></div><div style="-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). Emerging growth company  </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div><div style="-sec-extract:summary;font-size:9pt;"><font style="font-family:Wingdings;font-size:9pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:100%;padding-bottom:2px;text-align:left;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 8.01.&#160;&#160;&#160;&#160;Other Events</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 23, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Closing Date</font><font style="font-family:inherit;font-size:10pt;">&#8221;), Par Hawaii, Inc. (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Par Hawaii</font><font style="font-family:inherit;font-size:10pt;">&#8221;), an indirect subsidiary of Par Pacific Holdings, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;) wholly-owned by Par Petroleum, LLC, closed its previously announced acquisition of (a) twenty-one (21) owned retail gasoline, convenience store facilities and (b) twelve (12) leased retail gasoline, convenience store facilities, all at various locations in Washington and Idaho (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Acquired Station Properties</font><font style="font-family:inherit;font-size:10pt;">&#8221;) from CHS, Inc., a Minnesota cooperative corporation, pursuant to that certain Asset Purchase Agreement dated as of January 9, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Transaction</font><font style="font-family:inherit;font-size:10pt;">&#8221;).</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In connection with the closing of the Transaction, the parties entered into a number of ancillary agreements, including a multi-year branded petroleum marketing agreement for the continued supply of Cenex-branded refined products to the Acquired Station Properties and a multi-year supply agreement pursuant to which Hermes Consolidated, LLC d/b/a Wyoming Refining Company, an affiliate of Par Hawaii, will supply refined products to CHS, Inc. within the Rocky Mountain and Pacific Northwest markets.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;7.01. &#160;&#160;&#160;&#160;Regulation FD Disclosure. </font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On the Closing Date, the Company issued a news release announcing the closing of the Transaction. The news release is filed as Exhibit&#160;99.1 to this Form 8-K, and is incorporated herein by reference.</font></div><div style="line-height:120%;text-align:left;text-indent:33px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed &#8220;filed&#8221; for the purposes of Section&#160;18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></div><div style="line-height:120%;text-align:left;text-indent:33px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Forward-Looking Statements</font></div><div style="line-height:120%;text-align:left;text-indent:33px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Current Report on Form 8-K, including Exhibit 99.1, includes certain &#8220;forward-looking statements&#8221; 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 &#8220;safe harbor&#8221; from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements with respect to the anticipated synergies and other benefits of the Transaction, the anticipated financial and operating results of the Transaction and the effect on the Company&#8217;s cash flows and profitability (including Adjusted EBITDA), are forward-looking statements. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties. The Company cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct.&#160; Should one of these risks materialize, or 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 the date of this Current Report on Form 8-K.&#160; The Company does not intend to update or revise any forward-looking statements made herein or any other forward looking statements as a result of new information, future events or otherwise.&#160;The Company further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this news release.</font></div><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</font></div><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d) &#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1&#160;&#160;&#160;&#160;</font><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="ex991-cenexziptripacquisit.htm"><font style="font-family:inherit;font-size:10pt;">News Release, dated March 23, 2018.</font></a></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:-48px;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:-48px;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: March 23, 2018 </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;text-align:-moz-right;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:43.25396825396825%;border-collapse:collapse;text-align:left;margin-left:auto;margin-right:0;"><tr><td colspan="3"></td></tr><tr><td style="width:11%;"></td><td style="width:3%;"></td><td style="width:86%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PAR PACIFIC HOLDINGS, INC.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:1px;padding-right:2px;"><div style="padding-bottom:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ J. Matthew Vaughn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">J. Matthew Vaughn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Senior Vice President and General Counsel</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;-sec-extract:summary;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div>	</body>
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<TYPE>EX-99.1
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<FILENAME>ex991-cenexziptripacquisit.htm
<DESCRIPTION>EXHIBIT 99.1
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<div><a name="sD5191046AF56848D4D3A5099F2FE9677"></a></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Par Pacific Holdings, Inc. Successfully Closes Acquisition of 33 Cenex&#174; Zip Trip Retail Locations in Washington and Idaho</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">HOUSTON,&#160;March 23, 2018&#160;/PRNewswire/ --&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Par Pacific Holdings, Inc.&#160;</font><font style="font-family:inherit;font-size:11pt;">(NYSE: PARR) ("</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Par Pacific</font><font style="font-family:inherit;font-size:11pt;">") announced today that it has </font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">successfully completed its acquisition of</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;">33 Cenex</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;&#160;</sup></font><font style="font-family:inherit;font-size:11pt;">Zip Trip convenience stores from CHS Inc. for total consideration of $70 million&#160;plus the agreed value of inventory. Par Pacific anticipates Adjusted EBITDA from the acquired stores to be approximately&#160;$7.0&#160;to&#160;$7.5 million&#160;in the first full year of operations. </font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As part of the transaction, the parties have entered into a multi-year branded petroleum marketing agreement for the continued supply of Cenex-branded refined products to the Cenex</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;&#160;</sup></font><font style="font-family:inherit;font-size:11pt;">Zip Trip stores. In addition, the parties have entered into a multi-year supply agreement pursuant to which an affiliate of Par Pacific will supply refined products to CHS within the Rocky Mountain and Pacific Northwest markets.</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">"We are pleased to close this acquisition, which extends our Rocky Mountain activities and provides an alternative outlet for our Wyoming refining production. We would like to welcome our new colleagues to the Par Pacific organization," said&#160;William Pate, Par Pacific's President and Chief Executive Officer.&#160;</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">About Par Pacific Holdings, Inc.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;">Par Pacific Holdings, Inc., based in&#160;Houston, Texas, owns, manages and maintains interests in energy, related retailing and infrastructure businesses. Par Pacific's strategy is to identify, acquire and operate energy, related retailing and infrastructure businesses with attractive competitive positions. Par Pacific owns and operates one of the largest energy infrastructure networks in&#160;Hawaii&#160;with a 94,000-bpd refinery, a logistics network supplying the major islands of the state and 91 retail locations. In&#160;Wyoming, Par Pacific owns a refinery and associated logistics network in a niche market. In Idaho and Washington, Par Pacific owns and operates a total of 33 retail locations. Par Pacific also owns 39.1% of Laramie Energy, LLC, which has natural gas operations and assets concentrated in the Piceance Basin in&#160;Western Colorado.</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;font-weight:bold;text-decoration:underline;">Non-GAAP Financial Measures</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Management uses certain financial measures to evaluate our operating performance that are considered non-GAAP financial measures.&#160; These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and our calculations thereof may not be comparable to similarly titled measures reported by other companies.</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Our estimate of Adjusted EBITDA cannot be reconciled to our projected Net Income, the closest GAAP measure, without unreasonable efforts.&#160;This reconciliation would require estimating amounts that will ultimately be determined in the purchase price allocation, which has not yet been completed, such as depreciation and amortization expense and interest expense and other financing costs, net.&#160;A purchase price allocation requires allocating the purchase price to the acquired assets, including property, fixed assets and intangibles, based on their estimated fair value as of the acquisition date.&#160; Our estimate of Adjusted EBITDA is based upon the internal financial statements of CHS Inc. for the twelve months ended December 31, 2017 related to the assets and assumes the operation of the 33 stores with forecasted Adjusted Gross Margin of approximately&#160;$25&#160;to&#160;$27 million&#160;during a twelve month period.</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Adjusted Gross Margin is defined as (i) operating income (loss) plus operating expense (excluding depreciation), DD&amp;A, impairment expense, inventory valuation adjustments (which adjusts for timing differences to reflect the economics of our inventory financing agreements, including lower of cost or net realizable value adjustments, the impact of the embedded derivative repurchase obligation, and purchase price allocation adjustments), and unrealized gains (losses) on derivatives or (ii) revenues less cost of revenues (excluding depreciation) less inventory valuation adjustments and unrealized gains (losses) on derivatives. We define cost of revenues (excluding depreciation) as the hydrocarbon-related costs of inventory sold, transportation costs of delivering product to customers, crude oil consumed in the refining process, costs to satisfy our RINS obligations and certain </font></div><div><br></div><div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">hydrocarbon fees, and taxes. &#160;Cost of revenues (excluding depreciation) also includes the unrealized gains (losses) on derivatives and inventory valuation adjustments that we exclude from Adjusted Gross Margin.</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Forward-Looking Statements</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;">This press 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, including, without limitation, statements with respect to the CHS Inc. retail asset acquisition (the "</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Acquisition</font><font style="font-family:inherit;font-size:11pt;">"), the anticipated synergies and other benefits of the Acquisition, the anticipated financial and operating results of the Acquisition and the effect on Par Pacific's cash flows and profitability (including Adjusted EBITDA) are forward-looking statements. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties. Par Pacific cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct.&#160; Should one of these risks materialize, or 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.&#160; Par Pacific does not intend to update or revise any forward-looking statements made herein or any other forward looking statements as a result of new information, future events or otherwise.&#160;Par Pacific further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this news release.&#160;</font></div><div style="line-height:120%;padding-bottom:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Contact:</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Suneel Mandava</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">Senior Vice President - Finance</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">(713) 969-2136</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;">smandava@parpacific.com <br></font></div><div style="line-height:130%;padding-bottom:10px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div></div>	</body>
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