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  "documentTitle": "Par Pacific | Mergers and Acquisitions Presentation Deck | 11 slides",
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  "authorName": "Par Pacific",
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  "notes": "Includes two aerial photos of the refinery site.",
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      "text": "Par Pacific to acquire 63,000 bpd ExxonMobil Billings refinery and associated marketing and logistics assets. Acquisition will enhance Par Pacific's fully integrated downstream network in the upper Rockies and Pacific Northwest. $310 million base purchase price, plus hydrocarbon and other inventory to be valued at closing. Acquisition expected to be funded by cash on hand and existing credit lines, based on liquidity of approximately $495 million on September 30, 2022, along with new working capital facility for inventory. Expected to be immediately accretive to Adjusted Net Income and Free Cash Flow per share. $110 million in estimated midcycle Adjusted EBITDA contribution before synergies, including approximately $35 million of logistics contribution. Over $30 million in estimated annual overhead, operating costs, and commercial synergies. Transaction is expected to close in the second quarter of 2023.",
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