PAR PACIFIC HOLDINGS, INC.
For the period ended Nov 3, 2026. Filed Nov 4, 2026.
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Nov 3, 2026 · Filed Nov 4, 2026
Contents
EX-99.1 · Operating Statistics
Operating Statistics
The following table summarizes key operational data. For comparative purposes, previously reported 2026 interim periods have been recast to align with our current segment presentation:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Total Refining Segment | ||||
| Feedstocks Throughput (Mbpd) | 174.2 | 197.7 | 179.8 | 186.9 |
| Refined product sales volume (Mbpd) | 209.2 | 208.6 | 199.8 | 199.3 |
| Adjusted Gross Margin per bbl ($/throughput bbl) (1) | $46.95 | $24.76 | $33.10 | $15.41 |
| SRE impact | 13.85 | 11.14 | 4.52 | 3.97 |
| Adjusted Gross Margin excluding SRE impact | 33.10 | 13.62 | 28.58 | 11.44 |
| Production costs per bbl ($/throughput bbl) | 8.32 | 6.13 | 7.56 | 6.88 |
| D&A per bbl ($/throughput bbl) | 1.64 | 1.46 | 1.55 | 1.53 |
| Hawaii Refinery | ||||
| Feedstocks Throughput (Mbpd) | 56.6 | 81.7 | 73.0 | 83.1 |
| Yield (% of total throughput) | ||||
| Gasoline and gasoline blendstocks | 25.1% | 30.2% | 27.3% | 27.7% |
| Distillates | 33.7% | 39.2% | 34.5% | 38.2% |
| Fuel oils | 36.9% | 27.5% | 33.4% | 29.6% |
| Other products | (2.0)% | (0.1)% | 1.1% | 1.5% |
| Total yield | 93.7% | 96.8% | 96.3% | 97.0% |
| Refined product sales volume (Mbpd) | 86.4 | 87.9 | 87.3 | 88.3 |
| Adjusted Gross Margin per bbl ($/throughput bbl) (1) | $20.69 | $11.40 | $29.89 | $10.18 |
| SRE impact | — | — | — | — |
| Adjusted Gross Margin excluding SRE impact | 20.69 | 11.40 | 29.89 | 10.18 |
| Production costs per bbl ($/throughput bbl) | 8.45 | 4.66 | 6.02 | 4.53 |
| D&A per bbl ($/throughput bbl) | 0.85 | 0.28 | 0.42 | 0.25 |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Montana Refinery | ||||
| Feedstocks Throughput (Mbpd) | 58.4 | 58.3 | 56.0 | 51.5 |
| Yield (% of total throughput) | ||||
| Gasoline and gasoline blendstocks | 46.6% | 51.1% | 46.9% | 47.5% |
| Distillates | 34.1% | 32.4% | 35.2% | 31.9% |
| Asphalt | 14.0% | 8.1% | 10.5% | 10.8% |
| Other products | 2.8% | 4.2% | 3.1% | 3.9% |
| Total yield | 97.5% | 95.8% | 95.7% | 94.1% |
| Refined product sales volume (Mbpd) | 60.5 | 54.9 | 55.9 | 52.6 |
| Adjusted Gross Margin per bbl ($/throughput bbl) (1) | $75.92 | $27.41 | $40.68 | $18.50 |
| SRE impact | 31.12 | 10.75 | 10.94 | 4.10 |
| Adjusted Gross Margin excluding SRE impact | 44.80 | 16.66 | 29.74 | 14.40 |
| Production costs per bbl ($/throughput bbl) | 10.41 | 8.76 | 9.87 | 10.89 |
| D&A per bbl ($/throughput bbl) | 2.32 | 2.43 | 2.51 | 2.51 |
| Washington Refinery | ||||
| Feedstocks Throughput (Mbpd) | 40.4 | 38.6 | 34.9 | 39.3 |
| Yield (% of total throughput) | ||||
| Gasoline and gasoline blendstocks | 23.3% | 22.1% | 23.8% | 23.2% |
| Distillates | 34.2% | 34.4% | 34.1% | 35.2% |
| Asphalt | 19.9% | 21.4% | 19.5% | 18.6% |
| Other products | 19.2% | 18.9% | 19.3% | 19.5% |
| Total yield | 96.6% | 96.8% | 96.7% | 96.5% |
| Refined product sales volume (Mbpd) | 40.3 | 43.9 | 37.1 | 42.1 |
| Adjusted Gross Margin per bbl ($/throughput bbl) (1) | $35.95 | $32.46 | $23.79 | $15.39 |
| SRE impact | 8.66 | 20.96 | 3.38 | 6.94 |
| Adjusted Gross Margin excluding SRE impact | 27.29 | 11.50 | 20.41 | 8.45 |
| Production costs per bbl ($/throughput bbl) | 4.68 | 4.31 | 5.12 | 4.07 |
| D&A per bbl ($/throughput bbl) | 1.47 | 1.94 | 1.79 | 1.95 |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Wyoming Refinery | ||||
| Feedstocks Throughput (Mbpd) | 18.8 | 19.1 | 15.9 | 13.0 |
| Yield (% of total throughput) | ||||
| Gasoline and gasoline blendstocks | 43.4% | 44.7% | 45.8% | 45.4% |
| Distillates | 47.4% | 46.4% | 45.5% | 46.6% |
| Fuel oils | 4.8% | 4.2% | 3.7% | 3.6% |
| Other products | 1.9% | 2.1% | 2.2% | 2.3% |
| Total yield | 97.5% | 97.4% | 97.2% | 97.9% |
| Refined product sales volume (Mbpd) | 22.0 | 21.9 | 19.5 | 16.3 |
| Adjusted Gross Margin per bbl ($/throughput bbl) (1) | $64.98 | $58.22 | $44.20 | $38.42 |
| SRE impact | 13.07 | 40.12 | 5.21 | 19.86 |
| Adjusted Gross Margin excluding SRE impact | 51.91 | 18.10 | 38.99 | 18.56 |
| Production costs per bbl ($/throughput bbl) | 9.27 | 8.11 | 11.81 | 14.52 |
| D&A per bbl ($/throughput bbl) | 2.27 | 2.61 | 2.80 | 4.51 |
| Renewables Segment | ||||
| Renewable feedstocks throughput (Mgpd) | 77.7 | — | 43.9 | — |
| Renewable product sales volume (Mgpd) | 71.9 | — | 25.4 | — |
| Adjusted Gross Margin per gal ($/sales gal) (2) | $1.19 | $— | $0.16 | $— |
| Production costs per gal ($/sales gal) | 0.42 | — | 1.06 | — |
| D&A per gal ($/sales gal) | 0.45 | — | 0.79 | — |
| Production costs per gal ($/throughput gal) | 0.38 | — | 0.61 | — |
| Market Indices (average $ per barrel) | ||||
| Hawaii Index | $38.31 | $10.27 | $38.52 | $9.00 |
| Montana Index | 40.30 | 17.99 | 23.77 | 15.16 |
| Washington Index | 30.68 | 16.66 | 19.80 | 12.11 |
| Wyoming Index | 49.83 | 19.87 | 32.73 | 20.53 |
| Combined Index | 38.45 | 14.72 | 30.27 | 11.98 |
| Market Cracks (average $ per barrel) | ||||
| Singapore 3.1.2 Product Crack | $51.69 | $16.34 | $45.95 | $14.35 |
| Montana 6.3.2.1 Product Crack | 53.38 | 30.37 | 35.17 | 25.51 |
| Washington 3.1.1.1 Product Crack | 41.45 | 26.14 | 30.68 | 20.82 |
| Wyoming 2.1.1 Product Crack | 54.40 | 22.22 | 37.92 | 22.22 |
| Crude Oil Prices (average $ per barrel) | ||||
| Brent | $91.29 | $68.17 | $88.83 | $69.93 |
| WTI | 85.68 | 64.97 | 83.73 | 66.67 |
| ANS (-) Brent | 1.55 | 3.13 | 5.84 | 3.00 |
| Bakken Guernsey (-) WTI | 2.16 | (1.51) | 2.14 | (1.44) |
| Bakken Williston (-) WTI | 1.81 | (2.25) | 1.64 | (2.51) |
| WCS Hardisty (-) WTI | (16.33) | (11.42) | (14.75) | (11.09) |
| MSW (-) WTI | 0.74 | (3.23) | (0.17) | (3.36) |
| Syncrude (-) WTI | 9.93 | 0.40 | 6.53 | 0.21 |
| Brent M1-M3 | 5.05 | 1.24 | 5.24 | 1.29 |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Retail Segment | ||||
| Retail sales volumes (thousands of gallons) | 33,581 | 31,755 | 92,354 | 92,034 |
(1)We calculate Adjusted Gross Margin per barrel by dividing Adjusted Gross Margin by total refining throughput. Adjusted Gross Margin for our Washington refinery is determined under the last-in, first-out (“LIFO”) inventory costing method. Adjusted Gross Margin for our other refineries is determined under the first-in, first-out (“FIFO”) inventory costing method. Total Refining Segment Adjusted Gross Margin per barrel is presented net of intercompany profit in inventory of $(0.58) per barrel for the three months ended September 30, 2026, and $(0.24) per barrel and $(0.12) per barrel for the nine months ended September 30, 2026 and 2025, respectively, which represents margin on intercompany sales where the inventory remains on our condensed consolidated balance sheet at period end. Intercompany profit in inventory per barrel for the three months ended September 30, 2025, was immaterial. For the three and nine months ended September 30, 2026, Adjusted Gross Margin per barrel includes the SRE impact related to the 2025 compliance year. For the three and nine months ended September 30, 2025, Adjusted Gross Margin per barrel includes the SRE impact related to the 2019 through 2024 compliance years.
(2)Adjusted Gross Margin for our Renewables segment is determined under the FIFO inventory costing method. Total Renewables segment Adjusted Gross Margin per gallon is presented net of intercompany profit in inventory of $0.14 and $(0.48) per gallon for the three and nine months ended September 30, 2026, respectively. The Renewable Fuels Facility began commercial operations in April 2026.
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