Par Pacific (PARR) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Document and Entity Information:
Entity Registrant Name	PAR PACIFIC HOLDINGS, INC.
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	821,483
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding (in shares)		37,530,900
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 101,841	$ 89,210
Restricted cash	748	749
Trade accounts receivable	79,427	112,968
Inventories	231,969	243,853
Prepaid and other current assets	17,568	14,009
Total current assets	431,553	460,789
Property and equipment
Property, plant and equipment	216,193	123,323
Proved oil and gas properties, at cost, successful efforts method of accounting	1,122	1,122
Total property and equipment	217,315	124,445
Less accumulated depreciation, depletion and amortization	(21,031)	(11,510)
Property and equipment, net	196,284	112,935
Long-term assets
Investment in Laramie Energy Company	126,055	104,657
Intangible assets, net	35,589	7,506
Goodwill	41,977	20,786
Other long-term assets	17,841	34,334
Total assets	849,299	741,007
Current liabilities
Current maturities of long-term debt	43,373	29,100
Obligations under inventory financing agreements	215,088	197,394
Accounts payable	22,252	33,064
Current portion of contingent consideration	18,826	0
Other accrued liabilities	58,502	51,248
Total current liabilities	358,041	310,806
Long-term liabilities
Long-term debt, net of current maturities and unamortized discount	126,252	107,510
Common stock warrants	7,164	12,123
Contingent consideration	8,984	9,131
Long-term capital lease obligations	1,234	1,295
Other liabilities	17,107	7,983
Total liabilities	$ 518,782	$ 448,848
Commitments and contingencies (Note 10)
Stockholders’ equity
Preferred stock, $0.01 par value: 3,000,000 shares authorized, none issued	$ 0	$ 0
Common stock, $0.01 par value; 500,000,000 shares authorized at September 30, 2015 and December 31, 2014, 37,524,587 shares and 37,068,886 shares issued at September 30, 2015 and December 31, 2014, respectively	375	371
Additional paid-in capital	438,716	427,287
Accumulated deficit	(108,128)	(135,053)
Accumulated other comprehensive loss	(446)	(446)
Total stockholders’ equity	330,517	292,159
Total liabilities and stockholders’ equity	$ 849,299	$ 741,007

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	37,524,587	37,068,886

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Refining and distribution revenues	$ 403,165	$ 736,284	$ 1,352,724	$ 2,118,023
Retail revenues	81,434	62,929	209,091	174,179
Commodity marketing and logistics revenues	10,904	53,406	58,873	102,384
Natural gas and oil revenues	0	1,667	2,185	5,083
Total operating revenues	495,503	854,286	1,622,873	2,399,669
Operating expenses
Cost of revenues	405,153	830,438	1,387,690	2,322,788
Operating expense, excluding depreciation, depletion and amortization expense	38,047	42,729	102,798	109,897
Lease operating expense	1,575	1,204	4,614	3,963
Depreciation, depletion and amortization	4,596	3,918	12,852	10,269
Impairment expense	9,639	0	9,639	0
Loss on sale of assets, net	0	624	0	624
General and administrative expense	9,939	8,115	31,878	18,782
Acquisition and integration expense	280	3,856	1,811	9,126
Total operating expenses	469,229	890,884	1,551,282	2,475,449
Operating income (loss)	26,274	(36,598)	71,591	(75,780)
Other income (expense)
Interest expense and financing costs, net	(4,387)	(7,076)	(15,769)	(13,980)
Loss on termination of financing agreements	0	0	(19,229)	0
Other income (expense), net	(45)	(164)	(199)	(304)
Change in value of common stock warrants	(1,023)	2,401	(2,732)	4,118
Change in value of contingent consideration	(4,255)	996	(18,679)	5,758
Equity earnings (losses) from Laramie Energy Company	(1,355)	835	(6,131)	1,374
Total other income (expense), net	(11,065)	(3,008)	(62,739)	(3,034)
Income (loss) before income taxes	15,209	(39,606)	8,852	(78,814)
Income tax benefit (expense)	(469)	150	18,073	113
Net income (loss)	$ 14,740	$ (39,456)	$ 26,925	$ (78,701)
Earnings (loss) per share
Income (loss) per common share, basic (USD per share)	$ 0.39	$ (1.19)	$ 0.72	$ (2.51)
Income (loss) per common share, diluted (USD per share)	$ 0.39	$ (1.19)	$ 0.72	$ (2.51)
Weighted average number of shares outstanding
Basic (in shares)	37,390	33,137	37,304	31,311
Diluted (in shares)	37,400	33,137	37,331	31,311

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ 26,925	$ (78,701)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation, depletion, and amortization	12,852	10,269
Impairment expense	9,639	0
Loss on termination of financing agreements	19,229	0
Non-cash interest expense	10,885	10,632
Change in value of common stock warrants	2,732	(4,118)
Change in value of contingent consideration	18,679	(5,758)
Deferred taxes	(18,073)	(191)
Loss on sale of assets, net	0	624
Stock-based compensation	4,040	4,158
Unrealized loss (gain) on derivative contracts	4,786	(317)
Equity (earnings) losses from Laramie Energy Company	6,131	(1,374)
Net changes in operating assets and liabilities:
Trade accounts receivable	42,432	(20,696)
Prepaid and other assets	(851)	527
Inventories	19,382	(12,559)
Obligations under inventory financing agreements	19,719	2,860
Accounts payable and other accrued liabilities	(34,161)	17,965
Net cash provided by (used in) operating activities	144,346	(76,679)
Cash flows from investing activities
Acquisition of Koko'oha Investments, LLC, net of cash acquired	(64,360)	(10,000)
Capital expenditures	(15,857)	(6,726)
Proceeds from sale of assets	0	595
Payment for working capital settlement on HIE acquisition	0	(582)
Investment in Laramie Energy Company	(27,529)	(12)
Net cash used in investing activities	(107,746)	(16,725)
Cash flows from financing activities
Proceeds from sale of common stock	539	101,561
Proceeds from borrowings	90,900	289,391
Repayments of borrowings	(114,164)	(232,255)
Net repayments on deferred payment arrangement	(8,492)	0
Payment of deferred loan costs	(5,941)	(5,683)
Purchase of common stock for retirement	0	(287)
Proceeds from inventory financing agreements	271,000	0
Payments for termination of supply and exchange agreements	(257,811)	0
Restricted cash released	0	52
Net cash provided by (used in) financing activities	(23,969)	152,779
Net increase in cash and cash equivalents	12,631	59,375
Cash at beginning of period	89,210	38,061
Cash at end of period	101,841	97,436
Supplemental cash flow information
Cash received (paid) for interest	(4,224)	(3,348)
Cash received (paid) for taxes	357	233
Non-cash investing and financing activities
Accrued capital expenditures	2,852	3,230
Value of warrants reclassified to equity	$ 7,730	$ 0

Overview

Overview	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Overview	Note 1—Overview Par Pacific Holdings, Inc. (formerly known as Par Petroleum Corporation) and its wholly owned subsidiaries ("Par" or the "Company") own interests in energy and infrastructure businesses. Currently, we operate in four segments: (i) refining and distribution, (ii) retail, (iii) natural gas and oil production, and (iv) commodity marketing and logistics. Our refining and distribution segment consists of a refinery in Kapolei, Hawaii, refined products terminals, pipelines, a single-point mooring and trucking operations. The refinery produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products primarily for consumption in Hawaii. Our retail segment consists of retail outlets which sell gasoline, diesel, and retail merchandise throughout Hawaii. Our retail network includes Tesoro and "76" branded retail sites, company-operated convenience stores, sites operated in cooperation with 7-Eleven and other sites operated by third parties. Our natural gas and oil production segment consists primarily of our 32.4% equity investment in Piceance Energy, LLC ("Piceance Energy"), a joint venture entity focused on producing natural gas in Garfield and Mesa Counties, Colorado. In October 2015, Piceance Energy began doing business as Laramie Energy Company ("Laramie"). Our commodity marketing and logistics segment focuses on sourcing, marketing, transporting, and distributing crude oil and refined products. Our logistics capability consists of historical pipeline shipping status, a leased railcar fleet, and chartering tows and barges, with the capability of moving crude oil from landlocked locations in the Western U.S. and Canada to the refining hubs in the Midwest, Gulf Coast, and East Coast regions of the U.S.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of Par. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts from prior periods have been reclassified to conform to the current presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements contained in this report include all material adjustments of a normal recurring nature that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the complete fiscal year, or for any other period. The condensed consolidated balance sheet as of December 31, 2014 was derived from our audited consolidated financial statements as of that date. These unaudited condensed consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in our Current Report on Form 8-K filed on May 22, 2015. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosures. Actual amounts could differ from these estimates. On an ongoing basis, we review our estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. Significant estimates include the fair value of certain assets and liabilities, including those acquired in business combinations, natural gas and oil reserves, income taxes and the valuation allowances related to deferred tax assets, derivatives, asset retirement obligations, contingencies and litigation accruals. Accounting Principles Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). The FASB’s objective was to provide a more robust framework to improve comparability of revenue recognition practices across entities by removing most industry and transaction-specific guidance, align GAAP with International Financial Reporting Standards, and provide more useful information to financial statement users. This authoritative guidance changes the way entities recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ("ASU No. 2015-14"), which defers the effective date of ASU 2015-09 by one year. ASU No. 2014-09 is now effective for interim and annual periods beginning after December 15, 2017 and early adoption is permitted for interim and annual periods beginning after December 15, 2016. ASU No. 2014-09 allows for either full retrospective adoption or modified retrospective adoption. We are in the process of determining the method of adoption and the impact this guidance will have on our financial condition, results of operations and cash flows. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2016 and early adoption is permitted. We do not expect the adoption of ASU 2014-15 to have a material impact on our financial condition, results of operations and cash flows. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 changes the consolidation analysis required under GAAP by eliminating the presumption that a general partner should consolidate a limited partnership and modifying the evaluation of whether limited partnerships are Variable Interest Entities or voting interest entities. Under the amended guidance, limited partners would be required to consolidate a partnership if the limited partner retains certain powers and obligations. The amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods beginning after December 15, 2017. ASU 2015-02 allows for either full retrospective adoption or modified retrospective adoption. Early adoption is permitted, but the guidance must be applied as of the beginning of the annual period containing the adoption date. We are in the process of determining the method of adoption and the impact this guidance will have on our financial condition, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, Interest- Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 changes the balance sheet classification of debt issuance costs. Under current GAAP, debt issuance costs are reported on the balance sheet as assets and amortized as interest expense. ASU 2015-03 requires that debt issuance costs be presented as a direct reduction from the carrying amount of the related debt liability, which is similar to the presentation of debt discounts or premiums. Debt issuance costs will continue to be amortized to interest expense using the effective interest method. In August 2015, the FASB issued ASU No. 2015-15, Interest- Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements ("ASU 2015-15"). ASU 2015-15 clarifies that the guidance in ASU 2015-03 does not apply to debt issuance costs related to line-of-credit arrangements. Line-of-credit arrangements will continue to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt costs ratably over the term of the arrangement. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2015. ASU 2015-03 should be adopted on a retrospective basis and early adoption is permitted. As of September 30, 2015 and December 31, 2014 , we had $8.3 million and $13.2 million of debt issuance costs included in Other long-term assets on our unaudited condensed consolidated balance sheets, respectively. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory ("ASU 2015-11"). ASU 2015-11 changes the inventory measurement principle for entities using the first-in, first out (FIFO) or average cost methods. For entities utilizing one of these methods, the inventory measurement principle will change from lower of cost or market to the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using last-in, first-out or the retail inventory method. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2016. ASU 2015-11 should be adopted prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Our commodity inventories are currently stated at the lower of cost or market value using the FIFO accounting method. We value merchandise, spare parts, materials, and supplies at average cost. We are currently evaluating the provisions and assessing the impact, if any, this amendment may have on our financial condition and results of operations. Accounting Principle Adopted In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Under ASU 2015-16, the effect on earnings resulting from changes to the provisional amounts, calculated as if the accounting had been completed as of the acquisition date, must be recorded in the reporting period in which the adjustment amounts are determined rather than retrospectively. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2015. ASU 2015-16 should be adopted prospectively to adjustments to provisional amounts occurring after the effective date of the update and earlier application is permitted for financial statements that have not been issued. We adopted this ASU during the quarter ended September 30, 2015 and applied its amendments to the measurement period adjustments made during the three months ended September 30, 2015. Please read Note 4—Acquisition for further information.

Investment in Laramie Energy Co

Investment in Laramie Energy Company	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investment in Piceance Energy	Note 3—Investment in Laramie Energy Company We have a 32.4% ownership interest in Laramie, a joint venture entity focused on producing natural gas in Garfield and Mesa Counties, Colorado. Laramie has a $400 million revolving credit facility secured by a lien on its natural gas and oil properties and related assets with a borrowing base currently set at $110 million . As of September 30, 2015 , the balance outstanding on the revolving credit facility was approximately $47.5 million . We are guarantors of Laramie's credit facility, with recourse limited to the pledge of our equity interest of our wholly-owned subsidiary, Par Piceance Energy Equity, LLC. Under the terms of its credit facility, Laramie is generally prohibited from making future cash distributions to its owners, including us. On March 9, 2015 , we amended the Limited Liability Company Agreement of Piceance Energy LLC ("LLC Agreement") and made a cash capital contribution of $13.8 million to Laramie. On May 29, 2015 , we made an additional cash capital contribution of $13.8 million . As a result of our contributions to Laramie, our ownership interest increased from 33.34% to 34.0% . On July 31, 2015, an unaffiliated third-party invested an aggregate of $19 million in Laramie in the form of cash and property. As a result of this transaction, our ownership interest decreased from 34.0% to 32.4% . The change in our equity investment in Laramie is as follows (in thousands): Nine Months Ended Beginning balance $ 104,657 Equity loss from Laramie (6,743 ) Accretion of basis difference 612 Capital contributions 27,529 Ending balance $ 126,055 Summarized financial information for Laramie is as follows (in thousands): September 30, 2015 December 31, 2014 Current assets $ 10,976 $ 13,168 Non-current assets 498,527 468,379 Current liabilities 23,280 17,103 Non-current liabilities 78,334 107,087 Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Natural gas and oil revenues $ 11,464 $ 21,347 $ 32,687 $ 62,315 Income (loss) from operations (6,201 ) 870 (21,487 ) 6,468 Net income (loss) (4,717 ) 2,111 (20,126 ) 2,835 The net loss for the three and nine months ended September 30, 2015 includes $7.5 million and $23.3 million of depreciation, depletion, and amortization ("DD&A") expense and $0.7 million and $5.1 million of unrealized losses on derivative instruments, respectively. The net income for the three and nine months ended September 30, 2014 includes $9.6 million and $24.9 million of DD&A and $2.6 million and $2.4 million of unrealized gains on derivative instruments, respectively. As of September 30, 2015 and December 31, 2014 , our equity in the underlying net assets of Laramie exceeded the carrying value of our investment by approximately $14.1 million and $14.7 million , respectively. This difference arose due to lack of control and marketability discounts. We attributed this difference to natural gas and oil properties and are amortizing the difference over 15 years based on the estimated proved reserves at the date Laramie was formed.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisition	Note 4—Acquisition On June 2, 2014 , we and our subsidiary entered into an agreement to acquire Koko’oha Investments, Inc. ("Koko'oha"), a Hawaii corporation, which owns 100% of the issued and outstanding membership interests in Mid Pac Petroleum, LLC, a Delaware limited liability company (“Mid Pac”). Mid Pac is the exclusive licensee of the “76” brand in the State of Hawaii and the owner/operator of several terminals and retail gasoline stations across Hawaii. On April 1, 2015 , we completed the acquisition of Mid Pac. Net cash consideration was $74.4 million , including the working capital settlement of $1 million paid in September 2015. The cash consideration includes advance deposits of $15.0 million , of which $10.0 million was paid in 2014, paid prior to closing. In connection with the acquisition, Mid Pac's pre-existing debt was fully repaid on the closing date for $45.3 million . The acquisition and debt repayment were funded with cash on hand and $55 million of borrowings under the Credit Agreement with the Bank of Hawaii ("Mid Pac Credit Agreement"). Please read Note 8—Debt for further discussion. We accounted for the acquisition of Mid Pac as a business combination whereby the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values on the date of acquisition. Goodwill recognized in the transaction was attributable to opportunities expected to arise from combining our operations with Mid Pac's, and utilization of our net operating loss carryforwards, as well as other intangible assets that do not qualify for separate recognition. In addition, we recorded certain other identifiable intangible assets including trade names and customer relationships. These intangible assets will be amortized over their estimated useful lives on a straight line basis, which approximates their consumptive life. Please read Note 6—Goodwill and Intangible Assets for further discussion. A summary of the preliminary estimated fair value of the assets acquired and liabilities assumed is as follows (in thousands): Cash $ 10,007 Accounts receivable 9,905 Inventories 5,375 Prepaid and other current assets 1,444 Property, plant and equipment 41,878 Land 34,800 Goodwill 28,181 Intangible assets 33,647 Other non-current assets 1,228 Accounts payable and other current liabilities (11,331 ) Deferred tax liability (18,290 ) Other non-current liabilities (7,235 ) Total $ 129,609 We have recorded a preliminary estimate of the fair value of the assets acquired and liabilities assumed and expect to finalize the purchase price allocation during 2016. The primary areas of the purchase price allocation that are not yet finalized relate to income taxes and contingent liabilities. During the three months ended September 30, 2015, the purchase price allocation was adjusted to record a decrease to goodwill of $1.1 million , an increase to property and equipment of $2.1 million , a decrease to accounts payable of $0.2 million , and a decrease to deferred tax liability of $0.4 million . These adjustments are primarily related to the working capital settlement and the valuation of certain storage tanks. The effect on earnings resulting from these changes to the purchase price allocation did not have a material impact on our results of operations for the three or nine months ended September 30, 2015. The results of operations of Mid Pac were included in our results beginning April 1, 2015 . For the three and nine month periods ended September 30, 2015 , our results of operations included revenues of $49.9 million and $103.5 million and net income of $6.6 million and $9.4 million , respectively, related to Mid Pac. The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the Mid Pac acquisition had been completed on January 1, 2014 (in thousands): Three Months Ended Nine Months Ended Nine Months Ended Revenues (1) $ 922,087 $ 1,649,915 $ 2,594,997 Net income (loss) (1) (39,139 ) 10,069 (60,400 ) _______________________________________________________ (1) The results of operations of Mid Pac for the three months ended September 30, 2015 are included in our condensed consolidated statement of operations for the entire period; therefore, the pro forma financial information for the three months ended September 30, 2015 is not presented in the table above.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Note 5—Inventories Inventories at September 30, 2015 consist of the following (in thousands): Titled Inventory Supply and Offtake Agreements (1) Total Crude oil and feedstocks $ 8,237 $ 70,683 $ 78,920 Refined products and blend stock 29,019 106,650 135,669 Warehouse stock and other 17,380 — 17,380 Total $ 54,636 $ 177,333 $ 231,969 Inventories at December 31, 2014 consist of the following (in thousands): Titled Inventory Supply and Exchange Agreements (1) Total Crude oil and feedstocks $ 17,924 $ 62,594 $ 80,518 Refined products and blend stock 29,998 118,375 148,373 Warehouse stock and other 14,962 — 14,962 Total $ 62,884 $ 180,969 $ 243,853 ________________________________________________________ (1) Please read Note 7—Inventory Financing Agreements for further information. The reserve for the lower of cost or market value of inventory was $2.9 million and $ 2.4 million as of September 30, 2015 and December 31, 2014, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6—Goodwill and Intangible Assets During the nine months ended September 30, 2015 , the change in the carrying amount of goodwill was as follows (in thousands): Balance at beginning of period $ 20,786 Acquisition of Koko'oha (1) 28,181 Impairment expense (6,990 ) Balance at end of period $ 41,977 ________________________________________________________ (1) Please read Note 4—Acquisition for further discussion. At September 30, 2015, we conducted an interim goodwill impairment test of our Commodity Marketing and Logistics reporting unit due to (i) a reduction in the forecasted results of operations during our annual budgeting process; (ii) the decision to cancel the charter on the barges used to move crude oil from Canada to the U. S. gulf coast due to lower forecasted commodity prices and (iii) negative cash flows from the business during 2015. Upon completion of the goodwill impairment test, we determined the goodwill associated with the Commodity Marketing and Logistics reporting unit was fully impaired resulting in a charge of $7.0 million in our unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2015. In assessing the value of the reporting unit, we primarily used an income approach with a weighted-average discount rate of 15%. Intangible assets consist of the following (in thousands): September 30, 2015 December 31, 2014 Intangible assets: Supplier relationships $ — $ 3,360 Railcar leases 3,249 3,249 Trade names and trademarks 6,267 4,689 Customer relationships 32,069 — Total intangible assets $ 41,585 $ 11,298 Accumulated amortization: Supplier relationships $ — $ (516 ) Railcar leases (1,787 ) (1,301 ) Trade name and trademarks (3,146 ) (1,975 ) Customer relationships (1,063 ) — Total accumulated amortization $ (5,996 ) $ (3,792 ) Net: Supplier relationships $ — $ 2,844 Railcar leases 1,462 1,948 Trade name and trademarks 3,121 2,714 Customer relationships 31,006 — Total intangible assets, net $ 35,589 $ 7,506 At September 30, 2015, we conducted an impairment test related to the intangible assets in our Commodity Marketing and Logistics reporting unit. As of result of canceling the charter on the barges used to transport crude from Canada to the U. S. gulf coast in the commodity marketing and logistics business, we concluded that the supplier relationships intangible asset was fully impaired and recorded an impairment charge of $2.6 million in our unaudited condensed consolidated statements of operations for the three and nine months ended September 30, 2015. Amortization expense was approximately $1.0 million and $2.8 million for the three and nine months ended September 30, 2015 , respectively. Amortization expense was approximately $0.9 million and $1.8 million for the three and nine months ended September 30, 2014 , respectively. Intangible assets acquired from Mid Pac have an average useful life of 13.6 years . Expected amortization expense for each of the next five years and thereafter is as follows (in thousands): Year Ended Amount 2015 $ 1,266 2016 4,412 2017 3,307 2018 2,658 2019 2,658 Thereafter 21,288 Total $ 35,589

Inventory Financing Agreements

Inventory Financing Agreements	9 Months Ended
	Sep. 30, 2015
Other Commitments [Abstract]
Inventory Financing Agreements	Note 7—Inventory Financing Agreements Supply and Offtake Agreements On June 1, 2015, we entered into several agreements with J. Aron & Company ("J. Aron") to support the operations of our refinery (the "Supply and Offtake Agreements"). The Supply and Offtake Agreements have a term of three years with two one -year extension options upon mutual agreement of the parties. During the term of the Supply and Offtake Agreements, we and J. Aron will identify mutually acceptable contracts for the purchase of crude oil from third parties. Per the Supply and Offtake Agreements, J. Aron will provide up to 94 thousand barrels per day of crude oil to our refinery. Additionally, we agreed to sell, and J. Aron agreed to buy, at market prices, refined products produced at our refinery. We will then repurchase the refined products from J. Aron prior to selling the refined products to our retail operations or third parties. The agreements also provide for the lease to J. Aron of crude oil and certain refined product storage facilities. Following expiration or termination of the agreements, we are obligated to purchase the crude oil and refined product inventories then owned by J. Aron and located at the leased storage facilities at then current market prices. Our obligations under the agreements are secured by a security interest on substantially all of the assets of Hawaii Independent Energy, LLC ("HIE"), a security interest on the equity interests held by our wholly-owned subsidiary, Hawaii Pacific Energy, LLC in HIE and a mortgage whereby HIE granted to J. Aron a lien on all real property and improvements owned by HIE, including our refinery. While title to the crude oil and certain refined product inventories will reside with J. Aron, the Supply and Offtake Agreements will be accounted for as a product financing arrangement; therefore, the crude oil and refined products inventories will continue to be included on our consolidated balance sheet until processed and sold to a third party. Each reporting period, we record a liability in an amount equal to the amount we expect to pay to repurchase the inventory held by J. Aron based on current market prices. For the three and nine months ended September 30, 2015 , we incurred approximately $ 2.8 million and $4.0 million in handling fees related to the Supply and Offtake Agreements, respectively, which is included in Cost of revenues on our unaudited condensed consolidated statements of operations. For the three and nine months ended September 30, 2015 , Interest expense and financing costs, net on our unaudited condensed consolidated statements of operations includes approximately $0.6 million and $0.9 million of expenses related to the Supply and Offtake Agreements, respectively. The Supply and Offtake Agreements also include a deferred payment arrangement ("Deferred Payment Arrangement") whereby we can defer payments owed under the agreements up to the lesser of $125 million or 85% of the eligible accounts receivable and inventory. Upon execution of the Supply and Offtake Agreements, we paid J. Aron a deferral arrangement fee of $1.3 million . The deferred amounts under the deferred payment arrangement will bear interest at a rate equal to 90 -day LIBOR plus 3.75% per annum. We also agreed to pay a deferred payment availability fee equal to 0.75% of the unused capacity under the deferred payment arrangement. Amounts outstanding under the Deferred Payment Arrangement are included in Obligations under inventory financing agreements on our unaudited condensed consolidated balance sheet. Changes in the amount outstanding under the Deferred Payment Arrangement are included within cash flows from financing activities on the unaudited consolidated statement of cash flows. As of September 30, 2015 , the capacity of the Deferred Payment Arrangement was $55.8 million and we had $28.3 million outstanding. Under the Supply and Offtake Agreements, we pay or receive certain fees from J. Aron based on changes in market prices over time. On September 1, 2015, we entered into an agreement ("Fee Agreement") to fix this market fee for the period from October 1, 2015 through November 30, 2016 whereby J. Aron agreed to pay us a total of $18 million to be settled in fourteen equal monthly payments. The receivable from J. Aron was recorded as a reduction to our Obligations under inventory financing agreements pursuant to our Master Netting Agreement. The $18 million receivable from J. Aron will be recognized in earnings throughout the term of the Fee Agreement. The agreements also provide us with the ability to hedge price risk on our inventories and crude oil purchases. Please read Note 9—Fair Value Measurements for further information. Supply and Exchange Agreements HIE entered into several agreements with Barclays Bank PLC ("Barclays"), referred to collectively as the Supply and Exchange Agreements, on September 25, 2013 in connection with the acquisition of HIE for the purpose of managing its working capital and the crude oil and refined product inventory at the refinery. Effective July 31, 2014, HIE supplemented the Supply and Exchange Agreements by entering into the Refined Product Supply Master Confirmation, pursuant to which Barclays may provide refined product supply and intermediation arrangements to HIE. Pursuant to the Supply and Exchange Agreements, Barclays held title to all of the crude oil in the tanks at the refinery and to a majority of our refined product inventory in our tanks at the refinery. Barclays also prepaid us for certain inventory held at locations outside of our refinery. We held title to the inventory during the refining process. Barclays sold the crude oil to us as it was discharged out of the refinery's tanks. We exchanged refined product owned by Barclays stored in our tanks for equal volumes of refined product produced by our refinery when we executed third-party sales of refined product. For the nine months ended September 30, 2015 , we incurred approximately $6.9 million in handling fees related to the Supply and Exchange Agreements, which are included in Cost of revenues on our unaudited condensed consolidated statements of operations. We incurred no handling fees related to the Supply and Exchange Agreements during the three months ended September 30, 2015 . For the three and nine months ended September 30, 2014 , we incurred approximately $4.6 million and $12.0 million in handling fees related to the Supply and Exchange Agreements, respectively. For the nine months ended September 30, 2015 , Interest expense and financing costs, net on our unaudited condensed consolidated statements of operations includes approximately $2.3 million of expenses related to the Supply and Exchange Agreements. We incurred no interest expense related to the Supply and Exchange Agreements during the three months ended September 30, 2015 . Interest expense and financing costs, net on our unaudited condensed consolidated statements of operations includes approximately $1.8 million and $4.9 million for the three and nine months ended September 30, 2014 . Upon execution of the Supply and Offtake Agreements, HIE terminated the Supply and Exchange Agreements with Barclays, subject to certain obligations to reimburse Barclays for third-party claims. We recognized a loss of $17.4 million on the termination of the agreement which consisted of a loss of $13.3 million for the cash settlement value of the liability which had previously been measured assuming settlement with inventory on hand and a loss of $5.6 million for the acceleration of deferred financing costs. These losses were partially offset by a $1.5 million exit fee received from Barclays. The net loss of $17.4 million related to the termination of the Supply and Exchange Agreements is included in Loss on termination of financing agreements on our unaudited condensed consolidated statements of operations for the nine months ended September 30, 2015 . The cash paid to settle the obligation is included in Payments for termination of supply and exchange agreements in the Cash flows from financing activities section of our unaudited condensed statements of cash flows for the nine months ended September 30, 2015 .

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	3.50x 250 50 The Mid Pac Revolving Credit Facility applicable margin is as specified below: Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Basis Rate Loans (basis points) (basis points) < 3.00x 175 (25) 3.00x - 3.50x 200 — > 3.50x 225 25 Mid Pac agreed to pay certain fees in connection with the Mid Pac Credit Agreement, including usage fees for trade letters of credit and commitment fees for standby letters of credit issued under the Mid Pac Revolving Credit Facility. Pursuant to the Mid Pac Credit Agreement, Mid Pac is required to comply with various affirmative and negative covenants affecting its business and operations, including compliance with a minimum fixed charge coverage ratio of not less than 1.15 to 1.00, a minimum tangible net worth of $12.0 million , and a maximum leverage ratio determined as follows: Period (during and as of last day of) Maximum Leverage Ratio September 30, 2015 5.25 to 1.00 December 31, 2015 5.00 to 1.00 2016 fiscal year 4.75 to 1.00 2017 fiscal year 4.25 to 1.00 2018 fiscal year 4.00 to 1.00 2019 fiscal year 3.50 to 1.00 2020 fiscal year, and at all times thereafter 3.25 to 1.00 ABL Facility On September 25, 2013 and in connection with the acquisition of HIE, HIE and its subsidiary (“ABL Borrowers”) and Hawaii Pacific Energy entered into an asset-based senior secured revolving credit facility (“ABL Facility”) of up to $125 million , of which up to $50 million of availability under the ABL Facility was available for the issuances of letters of credit. Upon the execution of the Supply and Offtake Agreements, we repaid in full and terminated the ABL Facility and expensed $1.8 million of financing costs associated with the termination of the agreement. The expense of $1.8 million related to the termination of the ABL Facility is included within Loss on termination of financing agreements on our unaudited consolidated statements of operations for the nine months ended September 30, 2015 . Guarantors In connection with our shelf registration statement on Form S-3, which was filed with the SEC on June 1, 2015 and declared effective on June 23, 2015 (“Registration Statement”), we may sell non-convertible debt securities and other securities in one or more offerings with an aggregate initial offering price of up to $750 million . Any non-convertible debt securities issued under the Registration Statement may be fully and unconditionally guaranteed (except for customary release provisions), on a joint and several basis, by some or all of our subsidiaries, other than subsidiaries that are “minor” within the meaning of Rule 3-10 of Regulation S-X (the “Guarantor Subsidiaries”). The Company has no “independent assets or operations” within the meaning of Rule 3-10 of Regulation S-X, and certain of the Guarantor Subsidiaries may be subject to restrictions on their ability to distribute funds to the Company, whether by cash dividends, loans or advances." id="sjs-B4">Note 8—Debt The following table summarizes our outstanding debt (in thousands): September 30, 2015 December 31, 2014 Term Loan $ 93,851 $ 87,360 HIE Retail Credit Agreement 27,857 22,750 Texadian Uncommitted Credit Agreement — 26,500 Mid Pac Credit Agreement 47,917 — Total debt, net of unamortized debt discount 169,625 136,610 Less current maturities (43,373 ) (29,100 ) Long-term debt, net of current maturities and unamortized discount $ 126,252 $ 107,510 Annual maturities of our long-term debt for the next five years and thereafter are as follows (in thousands): Year Amount Due 2015 $ 2,113 2016 47,540 2017 8,452 2018 63,217 2019 8,452 Thereafter 39,851 $ 169,625 Additionally, as of September 30, 2015 , we had approximately $5.7 million in letters of credit outstanding under the Texadian Uncommitted Credit Agreement. Our debt is subject to various affirmative and negative covenants. As of September 30, 2015 , we were in compliance with all debt covenants. Term Loan Pursuant to the terms of our Delayed Draw Term Loan Agreement (the "Term Loan"), we were required to repay an advance of $35 million on March 31, 2015. On March 11, 2015, we entered into a Third Amendment to the Term Loan whereby we extended the repayment date of the advance to March 31, 2016. All other terms and conditions remain unchanged. Certain lenders under the Term Loan are our stockholders. Please read Note 16—Related Party Transactions for more information. Retail Credit Agreement On May 15, 2015, HIE Retail entered into a Second Amendment to the Retail Credit Agreement ("Second Amendment") pursuant to which we terminated the retail revolver and extended the maturity date of the existing retail term loans in the aggregate principal amount of $22 million until March 31, 2022. In connection with the entry into the Second Amendment, the Retail Facility lenders made additional term loans to HIE Retail in the aggregate principal amount of $7.9 million . The New Term Loans were made on the same terms as the term loans previously made under the Retail Credit Agreement, as amended by the Second Amendment. The Second Amendment also provides that if a prepayment of the amounts outstanding under the Retail Credit Agreement occurs as a result of HIE Retail obtaining refinancing from any financial institution (including from less than all of the Retail Facility Lenders), HIE Retail shall pay a prepayment fee equal to 1% of the amount prepaid. Prior to the entry into the Second Amendment, there were no revolving loans outstanding and no letters of credit issued under the Retail Credit Agreement. The Second Amendment includes a new covenant that requires HIE Retail to maintain cash on hand of not less than $3 million at all times. In addition, the Second Amendment modifies the financial covenant relating to HIE Retail’s maximum Leverage Ratio (as defined in the Retail Credit Agreement), which is measured on a quarterly basis commencing with the fiscal quarter ending June 30, 2015 and building up to a rolling four-quarter basis, as follows for the last day of each fiscal year: Period (during and as of the last day of) Maximum Leverage Ratio 2015 Fiscal Year 5.00 to 1.00 2016 Fiscal Year 4.75 to 1.00 2017 Fiscal Year 4.50 to 1.00 2018 Fiscal Year 4.25 to 1.00 2019 Fiscal Year, and at all times thereafter 4.00 to 1.00 Texadian Uncommitted Credit Agreement On February 20, 2015, Texadian Energy, Inc. ("Texadian"), and its wholly-owned subsidiary Texadian Energy Canada Limited, amended and restated their uncommitted credit agreement. The amended agreement increased the uncommitted loans and letters of credit capacity to $200 million and extended the maturity date to February 2016. Existing Debt Obligations of Koko'oha and Mid Pac On April 1, 2015, in connection with the acquisition of Mid Pac, we repaid certain existing debt obligations of Koko'oha and Mid Pac for $45.3 million . Mid Pac Credit Agreement On April 1, 2015, Koko’oha and Mid Pac entered into the Mid Pac Credit Agreement in the form of a senior secured term loan in the amount of $50 million (“Mid Pac Term Loan”) and a senior secured revolving line of credit (“Mid Pac Revolving Credit Facility”) in the aggregate principal amount of up to $5 million . The lenders of the Mid Pac Credit Agreement advanced the full amount of the Mid Pac Term Loan and the Mid Pac Revolving Credit Facility at the closing. The proceeds of the loans were used to repay certain existing debt of Koko’oha and Mid Pac, pay a portion of the acquisition consideration and for general corporate purposes. The Mid Pac Term Loan matures and is fully payable on April 1, 2022. Principal on the term loan will be repaid in 28 equal quarterly principal payments over the term. The revolving credit facility matures on April 1, 2018 and no more than five borrowings consisting of LIBOR loans may be outstanding at any time. Letters of credit issued under the revolving credit facility are not to expire beyond the maturity date of the revolving credit facility. The Mid Pac Term Loan and advances under the Mid Pac Revolving Credit Facility will bear interest, at the Company's election, at a rate equal to (a) 30, 90 or 180 day LIBOR plus the applicable margin (as specified below), or (ii) the primary interest rate established from time to time by Bank of Hawaii plus a margin. For both LIBOR and primary interest rate loans, the margin is calculated based on the leverage ratio determined as of the last day of the immediately preceding quarter. Interest is payable at the end of the selected interest period, but no less frequently than quarterly. The Mid Pac Term Loan applicable margin is as specified below: Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Basis Rate Loans (basis points) (basis points) < 3.00x 200 — 3.00x - 3.50x 225 25 > 3.50x 250 50 The Mid Pac Revolving Credit Facility applicable margin is as specified below: Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Basis Rate Loans (basis points) (basis points) < 3.00x 175 (25) 3.00x - 3.50x 200 — > 3.50x 225 25 Mid Pac agreed to pay certain fees in connection with the Mid Pac Credit Agreement, including usage fees for trade letters of credit and commitment fees for standby letters of credit issued under the Mid Pac Revolving Credit Facility. Pursuant to the Mid Pac Credit Agreement, Mid Pac is required to comply with various affirmative and negative covenants affecting its business and operations, including compliance with a minimum fixed charge coverage ratio of not less than 1.15 to 1.00, a minimum tangible net worth of $12.0 million , and a maximum leverage ratio determined as follows: Period (during and as of last day of) Maximum Leverage Ratio September 30, 2015 5.25 to 1.00 December 31, 2015 5.00 to 1.00 2016 fiscal year 4.75 to 1.00 2017 fiscal year 4.25 to 1.00 2018 fiscal year 4.00 to 1.00 2019 fiscal year 3.50 to 1.00 2020 fiscal year, and at all times thereafter 3.25 to 1.00 ABL Facility On September 25, 2013 and in connection with the acquisition of HIE, HIE and its subsidiary (“ABL Borrowers”) and Hawaii Pacific Energy entered into an asset-based senior secured revolving credit facility (“ABL Facility”) of up to $125 million , of which up to $50 million of availability under the ABL Facility was available for the issuances of letters of credit. Upon the execution of the Supply and Offtake Agreements, we repaid in full and terminated the ABL Facility and expensed $1.8 million of financing costs associated with the termination of the agreement. The expense of $1.8 million related to the termination of the ABL Facility is included within Loss on termination of financing agreements on our unaudited consolidated statements of operations for the nine months ended September 30, 2015 . Guarantors In connection with our shelf registration statement on Form S-3, which was filed with the SEC on June 1, 2015 and declared effective on June 23, 2015 (“Registration Statement”), we may sell non-convertible debt securities and other securities in one or more offerings with an aggregate initial offering price of up to $750 million . Any non-convertible debt securities issued under the Registration Statement may be fully and unconditionally guaranteed (except for customary release provisions), on a joint and several basis, by some or all of our subsidiaries, other than subsidiaries that are “minor” within the meaning of Rule 3-10 of Regulation S-X (the “Guarantor Subsidiaries”). The Company has no “independent assets or operations” within the meaning of Rule 3-10 of Regulation S-X, and certain of the Guarantor Subsidiaries may be subject to restrictions on their ability to distribute funds to the Company, whether by cash dividends, loans or advances.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9—Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis Common stock warrants . As of September 30, 2015 and December 31, 2014 , we had 345,135 and 749,148 common stock warrants outstanding, respectively. We estimate the fair value of our outstanding common stock warrants using a Monte Carlo simulation analysis, which is considered to be a Level 3 fair value measurement. Significant inputs used in the Monte Carlo simulation analysis include: September 30, 2015 December 31, 2014 Stock price $20.83 $16.25 Weighted average exercise price $0.10 $0.10 Term (years) 6.92 7.67 Risk-free rate 1.73% 2.01% Expected volatility 50.0% 50.2% The expected volatility is based on the 10 -year historical volatilities of comparable public companies. Based on the Monte Carlo simulation analysis, the estimated fair value of the common stock warrants was $20.76 and $16.17 per warrant as of September 30, 2015 and December 31, 2014 , respectively. Since the common stock warrants were in the money upon issuance, we do not believe that changes in the inputs to the Monte Carlo simulation analysis will have a significant impact on the value of the common stock warrants other than changes in the value of our common stock. Increases in the value of our common stock will increase the value of the common stock warrants. Likewise, a decrease in the value of our common stock will result in a decrease in the value of the common stock warrants. Contingent consideration. The cash consideration for our acquisition of HIE may be increased pursuant to an earn out provision. The liability is remeasured at the end of each reporting period using a Monte Carlo simulation analysis. Significant inputs used in the valuation model include estimated future gross margin, annual gross margin volatility and a present value factor. We consider this to be a Level 3 fair value measurement. Please read Note 10—Commitments and Contingencies for further discussion. Derivative instruments. We utilize crude oil commodity derivative contracts to manage our price exposure to our inventory positions, future purchases of crude oil, and future sales of refined products. The derivative contracts that we execute to manage our price risk include exchange traded futures, options and over-the-counter (“OTC”) swaps. Our futures, options, and OTC swaps are marked-to-market and changes in the fair value of these contracts are recognized within Cost of revenues on our unaudited consolidated statements of operations. We have entered into forward purchase contracts for crude oil and forward sales contracts of refined products. We elect the normal purchases normal sales (“NPNS”) exception for all forward contracts that meet the definition of a derivative and are not expected to net settle. Any gains and losses with respect to these forward contracts designated as NPNS are not reflected in earnings until the delivery occurs. During 2014, we entered into certain physical forward crude oil contracts that did not qualify for or for which we did not elect the normal NPNS exception. Changes in the fair value of those contracts were recorded in earnings. We classify financial assets and liabilities according to the fair value hierarchy. Financial assets and liabilities classified as level 1 instruments are valued using quoted prices in active markets for identical assets and liabilities. These include our exchange traded futures. Level 2 instruments are valued using quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices, that are observable for the asset or liability. Our level 2 instruments include OTC swaps and options. These commodity derivatives are valued using market quotations from independent price reporting agencies and commodity exchange price curves that are corroborated with market data. Level 3 instruments are valued using significant unobservable inputs that are not supported by sufficient market activity. We do not have commodity derivatives classified as level 3 at September 30, 2015 or December 31, 2014. Financial Statement Impact Our assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 and their placement within our unaudited condensed consolidated balance sheets consist of the following (in thousands): Balance Sheet Location September 30, 2015 December 31, 2014 Asset (Liability) Common stock warrants Common stock warrants $ (7,164 ) $ (12,123 ) Contingent consideration Contingent consideration (27,810 ) (9,131 ) Commodity derivatives (1) Prepaid and other current assets 2,151 1,015 Commodity derivatives (1) Other accrued liabilities (5,194 ) — Commodity derivatives (1) Other liabilities (727 ) _________________________________________________________ (1) Does not include cash collateral of $10.8 million recorded in Prepaid and other current assets and $7.0 million in Other long-term assets as of September 30, 2015 . The following table summarizes the pre-tax gains (losses) recognized in Net income (loss) on our unaudited condensed consolidated statement of operations resulting from changes in assets and liabilities valued at fair value (in thousands): Income Statement Classification Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Common stock warrants Change in value of common stock warrants $ (1,023 ) $ 2,401 $ (2,732 ) $ 4,118 Contingent consideration Change in value of contingent consideration (4,255 ) 996 (18,679 ) 5,758 Commodity derivatives Cost of revenues 10,940 639 13,512 (693 ) We elect to offset fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting agreement. Our consolidated unaudited balance sheets present derivative assets and liabilities on a net basis. Our cash margin that is required as collateral deposits cannot be offset against the fair value of open contracts except in the event of default. Fair value amounts by hierarchy level as of September 30, 2015 and December 31, 2014 are presented gross in the tables below (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Total $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Liabilities Common stock warrants $ — $ — $ (7,164 ) $ (7,164 ) $ — $ (7,164 ) Contingent consideration — — (27,810 ) (27,810 ) — (27,810 ) Commodity derivatives (17 ) (24,880 ) — (24,897 ) 18,976 (5,921 ) Total $ (17 ) $ (24,880 ) $ (34,974 ) $ (59,871 ) $ 18,976 $ (40,895 ) December 31, 2014 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Total $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Liabilities Common stock warrants $ — $ — $ (12,123 ) $ (12,123 ) $ — $ (12,123 ) Contingent consideration — — (9,131 ) (9,131 ) — (9,131 ) Total $ — $ — $ (21,254 ) $ (21,254 ) $ — $ (21,254 ) A roll forward of Level 3 financial instruments measured at fair value on a recurring basis is as follows (in thousands): Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Balance, at beginning of period $ (37,387 ) $ (22,837 ) $ (21,254 ) $ (29,316 ) Settlements 7,691 — 7,691 — Acquired — — — — Total unrealized income (loss) included in earnings (5,278 ) 3,397 (21,411 ) 9,876 Balance, at end of period $ (34,974 ) $ (19,440 ) $ (34,974 ) $ (19,440 ) The carrying value and fair value of long-term debt and other financial instruments as of September 30, 2015 and December 31, 2014 are as follows (in thousands): September 30, 2015 Carrying Value Fair Value (1) Term Loan $ 93,851 $ 99,822 HIE Retail Credit Agreement (2) 27,857 27,857 Mid Pac Credit Agreement (2) 47,917 47,917 Common stock warrants 7,164 7,164 Contingent consideration 27,810 27,810 December 31, 2014 Carrying Value Fair Value (1) Term Loan $ 87,360 $ 87,068 HIE Retail Credit Agreement (2) 22,750 22,750 Texadian Uncommitted Credit Agreement 26,500 26,500 Common stock warrants 12,123 12,123 Contingent consideration 9,131 9,131 _________________________________________________________ (1) The fair values of these instruments are considered Level 3 measurements in the fair value hierarchy. (2) Fair value approximates carrying value due to the floating rate interest which approximates a current market rate. We estimate the fair value of our long-term debt using a discounted cash flow analysis and an estimate of the current yield of 9.87% and 14.11% as of September 30, 2015 and December 31, 2014 , respectively, by reference to market interest rates for term debt of comparable companies. The fair value of all non-derivative financial instruments included in current assets, including cash and cash equivalents, restricted cash and trade accounts receivable, and current liabilities, including accounts payable, approximate their carrying value due to their short-term nature.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10—Commitments and Contingencies In the ordinary course of business, we are a party to various lawsuits and other contingent matters. We establish accruals for specific legal matters when we determine that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on our liquidity, results of operations or financial condition. Mid Pac Earnout and Indemnity Dispute Pursuant to a Stock Purchase Agreement dated August 3, 2011 and amended October 25, 2011 (the “SPA”), Mid Pac purchased all the issued and outstanding stock of Inter Island Petroleum, Inc. (“Inter Island”) from Brian J. and Wendy Barbata (collectively, the “Barbatas”). The SPA provides for an earnout payment to be made to the Barbatas in an amount equal to four times the amount by which the average of Inter Island’s earnings before interest, taxes, depreciation and amortization during the relevant earnout period exceeds $3.5 million . The earnout payment is capped at a maximum of $4.5 million . Mid Pac contends that there are no amounts owed to the Barbatas for the earnout period. By letter dated May 29, 2014, the Barbatas disputed Mid Pac’s computation of the earnout, without explanation of the amount they claim to be owed or refutation of Mid Pac’s analysis. Mid Pac intends to vigorously oppose any such claims. Any claims by the Barbatas may be offset by Mid Pac’s claims for indemnification under the SPA. By letters dated December 13, 2013 and April 25, 2014, Mid Pac has asserted indemnification claims against the Barbatas exceeding $1 million with respect to environmental losses arising from certain terminals operated by Inter Island and its subsidiaries. The Barbatas have disputed such claims. Tesoro Earnout Dispute The cash consideration for our acquisition of HIE is subject to increase pursuant to an earnout provision. For 2014, we contend that there are no amounts owed to Tesoro. Tesoro has disputed our calculation of the 2014 earnout amount and contends that approximately $1 million is owed. Pursuant to the Membership Interest Purchase Agreement dated June 17, 2013, the dispute will be submitted to a mutually acceptable independent accounting firm to be engaged by the parties, as arbiter, to determine the amount owed, if any. Environmental Matters Our petroleum refining operations and third-party oil and gas exploration and production operations in which we have a working interest are subject to extensive and periodically changing federal, state and local environmental laws and regulations governing air emissions, wastewater discharges, and solid and hazardous waste management activities. Many of these laws and regulations are becoming increasingly stringent, and the cost of compliance can be expected to increase over time. Our policy is to accrue environmental and clean-up related costs of a non-capital nature when it is probable that a liability has been incurred and the amount can be reasonably estimated. Such estimates may be subject to revision in the future as regulations and other conditions change. Periodically, we receive communications from various federal, state, and local governmental authorities asserting violations of environmental laws and/or regulations. These governmental entities may also propose or assess fines or require corrective actions for these asserted violations. We intend to respond in a timely manner to all such communications and to take appropriate corrective action. We do not anticipate that any such matters currently asserted will have a material impact on our financial condition, results of operations, or cash flows. Regulation of Greenhouse Gases. The United States Environmental Protection Agency (“EPA”) has begun regulating greenhouse gases ("GHG") under the Clean Air Act Amendments of 1990 (“Clean Air Act”). New construction or material expansions that meet certain GHG emissions thresholds will likely require that, among other things, a GHG permit be issued in accordance with the Clean Air Act regulations, and we will be required in connection with such permitting to undertake a technology review to determine appropriate controls to be implemented with the project in order to reduce GHG emissions. Furthermore, the EPA is currently developing refinery-specific GHG regulations and performance standards that are expected to impose GHG emission limits and/or technology requirements. These control requirements may affect a wide range of refinery operations. Any such controls could result in material increased compliance costs, additional operating restrictions for our business, and an increase in cost of the products we produce, which could have a material adverse effect on our financial position, results of operations, and liquidity. On September 29, 2015, the EPA announced a final rule updating standards that control toxic air emissions from petroleum refineries, addressing, among other things, flaring operations, fenceline air quality monitoring and additional emission reductions from storage tanks and delayed coking units. Affected existing sources will be required to comply with the new requirements no later than 2018, with certain refiners required to comply earlier depending on the relevant provision and refinery construction date. We do not anticipate that compliance with this rule will have a material impact on our financial condition, results of operations, or cash flows. In 2007, the State of Hawaii passed Act 234, which required that GHG emissions be rolled back on a statewide basis to 1990 levels by the year 2020. Although delayed, the Hawaii Department of Health has issued regulations that would require each major facility to reduce CO 2 emissions by 16% by 2020 relative to a calendar year 2010 baseline (the first year in which GHG emissions were reported to the EPA under 40 CFR Part 98). Those rules are pending final approval by the Government of Hawaii. The refinery’s capacity to reduce fuel use and GHG emissions is limited. However, the state’s pending regulation allows, and the refinery should be able to demonstrate, that additional reductions are not cost-effective or necessary in light of the state’s current GHG inventory and future year projections. The pending regulation allows for “partnering” with other facilities (principally power plants) which have already dramatically reduced greenhouse emissions or are on schedule to reduce CO 2 emissions in order to comply with the state’s Renewable Portfolio Standards. Fuel Standards. In 2007, the U.S. Congress passed the Energy Independence and Security Act (“EISA”) which, among other things, set a target fuel economy standard of 35 miles per gallon for the combined fleet of cars and light trucks in the United States by model year 2020, and contained a second Renewable Fuel Standard (the “RFS2”). In August 2012, the EPA and National Highway Traffic Safety Administration jointly adopted regulations that establish an average industry fuel economy of 54.5 miles per gallon by model year 2025. The RFS2 requires an increasing amount of renewable fuel usage, up to 36 billion gallons by 2022. In the near term, the RFS2 will be satisfied primarily with fuel ethanol blended into gasoline. The RFS2 may present production and logistics challenges for both the renewable fuels and petroleum refining and marketing industries in that we may have to enter into arrangements with other parties or purchase credits from the EPA to meet our obligations to use advanced biofuels, including biomass-based diesel and cellulosic biofuel, with potentially uncertain supplies of these new fuels. In October 2010, the EPA issued a partial waiver decision under the Clean Air Act to allow for an increase in the amount of ethanol permitted to be blended into gasoline from 10% (“E10”) to 15% (“E15”) for 2007 and newer light duty motor vehicles. In January 2011, the EPA issued a second waiver for the use of E15 in vehicles model years 2001-2006. There are numerous issues, including state and federal regulatory issues, which need to be addressed before E15 can be marketed on a large scale for use in traditional gasoline engines. Since April 2006, the State of Hawaii has required that a minimum of 9.2% ethanol be blended into at least 85% of the gasoline pool, but the regulation also limited the amount of ethanol to no more than 10% . Effective January 1, 2016, however, this state mandate will terminate. Nevertheless, qualified Renewable Identification Numbers (“RINS”) will be required to fulfill the federal mandate for renewable fuels. In March 2014, the EPA published a final Tier 3 gasoline standard that lowers the allowable sulfur level in gasoline to 10 ppm and also lowers the allowable benzene, aromatics and olefins content of gasoline. The effective date for the new standard, January 1, 2017, gives refiners nationwide little time to engineer, permit and implement substantial modifications; however, approved small volume refineries have until January 1, 2020 to meet the standard. In September 2015, our refinery was granted small volume refinery status by the EPA. Along with credit and trading options, potential capital upgrades for the refinery are being evaluated. There will be compliance costs and uncertainties regarding how we will comply with the various requirements contained in the EISA and other fuel-related regulations. We may experience a decrease in demand for refined petroleum products due to an increase in combined fleet mileage or due to refined petroleum products being replaced by renewable fuels. Environmental Agreement On September 25, 2013 (“Closing Date”), Hawaii Pacific Energy (a wholly-owned subsidiary of Par created for purposes of the HIE acquisition), Tesoro Corporation ("Tesoro") and HIE entered into an Environmental Agreement (“Environmental Agreement”), which allocated responsibility for known and contingent environmental liabilities related to the acquisition of HIE, including the Consent Decree as described below. Consent Decree . Tesoro is currently negotiating a consent decree with the EPA and the United States Department of Justice concerning alleged violations of the federal Clean Air Act related to the ownership and operation of multiple facilities owned or formerly owned by Tesoro and its affiliates (“Consent Decree”), including the Hawaii refinery. It is anticipated that the Consent Decree will be finalized sometime during 2015 and will require certain capital improvements to our refinery to reduce emissions of air pollutants. We estimate the cost of compliance with the final decree could be $20 million to $25 million . However, Tesoro is responsible under the Environmental Agreement for reimbursing HIE for all reasonable third-party capital expenditures incurred for the construction, installation and commissioning of such capital projects and for the payment of any fines or penalties imposed on HIE arising from the Consent Decree to the extent related to acts or omission of Tesoro or HIE prior to the Closing Date. Tesoro’s obligation to reimburse HIE for such fines and penalties is not subject to a monetary limitation; however, the obligation relating to fines and penalties terminates on the third anniversary of the Closing Date. Tank Replacements. Tesoro replaced, at its expense, the existing underground storage tanks at six retail locations. The tank replacements were completed at five of the stations during 2014. The sixth location was completed during the first quarter of 2015. Indemnification. In addition to its obligation to reimburse us for capital expenditures incurred pursuant to the Consent Decree, Tesoro agreed to indemnify us for claims and losses arising out of related breaches of Tesoro’s representations, warranties and covenants in the Environmental Agreement, certain defined “corrective actions” relating to pre-existing environmental conditions, third-party claims arising under environmental laws for personal injury or property damage arising out of or relating to releases of hazardous materials that occurred prior to the Closing Date, any fine, penalty or other cost assessed by a governmental authority in connection with violations of environmental laws by HIE prior to the Closing Date, certain groundwater remediation work, the replacement of underground storage tanks located at certain retail sites, fines or penalties imposed on HIE by the Consent Decree related to acts or omissions of Tesoro prior to the Closing Date and to claims and losses related to the Pearl City Superfund Site. Tesoro’s indemnification obligations are subject to certain limitations as set forth in the Environmental Agreement. These limitations include a deductible of $1 million and a cap of $15 million for certain of Tesoro’s indemnification obligations related to certain pre-existing conditions as well as certain restrictions regarding the time limits for submitting notice and supporting documentation for remediation actions. Recovery Trusts We emerged from the reorganization of Delta Petroleum on August 31, 2012 ("Emergence Date") when the plan of reorganization ("Plan") was consummated. On the Emergence Date, we formed the Delta Petroleum General Recovery Trust (“General Trust”). The General Trust was formed to pursue certain litigation against third parties, including preference actions, fraudulent transfer and conveyance actions, rights of setoff and other claims, or causes of action under the U.S. Bankruptcy Code, and other claims and potential claims that the Debtors hold against third parties. We are the beneficiary of the General Trust, subject to the terms of the trust agreement and the Plan. Since the Emergence Date, the General Trust has filed various claims and causes of action against third parties before the Bankruptcy Court, which actions are ongoing. Upon liquidation of the various claims and causes of action held by the General Trust, the proceeds, less certain administrative reserves and expenses, will be transferred to us. It is unknown at this time what proceeds, if any, we will realize from the General Trust’s litigation efforts. The Plan provides that certain allowed general unsecured claims be paid with shares of our common stock. As of December 31, 2014, 27 claims totaling approximately $26.5 million remain to be resolved by the trustee for the General Trust and we have reserved approximately $1.1 million representing the estimated value of claims remaining to be settled which are deemed probable and estimable at period end. No claims were settled during the nine months ended September 30, 2015 .

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	Note 11—Stockholders' Equity Incentive Plan For the three and nine months ended September 30, 2015 , we recognized compensation costs of approximately $1.0 million and $ 4.0 million , respectively, in General and administrative expenses on our unaudited condensed consolidated statements of operations related to restricted stock awards under the Company's 2012 Long-term Incentive Plan ("LTIP"). For the three and nine months ended September 30, 2014 , we recognized compensation costs of approximately $2.6 million and $4.2 million , respectively, in General and administrative expenses within our unaudited consolidated statements of operations related to restricted stock awards under the LTIP. During the three and nine months ended September 30, 2015 , we granted 28 thousand shares and 214 thousand shares of restricted stock, respectively, with fair values of approximately $511 thousand and $4.3 million , respectively. During the three and nine months ended September 30, 2015 , we granted approximately 15 thousand stock options and 167 thousand stock options with a weighted-average exercise price of $ 19.69 and $18.88 and a fair value of approximately $115 thousand and $1.3 million , respectively. As of September 30, 2015 , there was approximately $9.6 million of total unrecognized compensation costs related to restricted stock and stock option awards, which are expected to be recognized on a straight-line basis over a weighted-average period of 2.98 years. In the fourth quarter of 2015, our board of directors authorized an increase in the number of shares issuable under the LTIP, subject to shareholder approval. Additionally, we issued an aggregate 1.05 million options to our new President and Chief Executive Officer, our Chairman and our Vice Chairman of our board of directors, each with an exercise price of $21.44 . These option grants are also subject to shareholder approval.

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	Note 12—Benefit Plans Other Post-retirement Benefits - Medical We sponsor a post-retirement medical plan to provide health care coverage continuation from the date of retirement to age 65 for qualifying employees. Employees hired before 2006 are generally eligible to participate in the plan after five years of service and reaching the age of 55 and will pay 20% of the monthly insurance premium. Employees hired after 2006 are generally eligible to participate in the plan after five years of service and reaching the age of 55 and are required to pay 100% of the monthly insurance premium; however, after 10 years of service, they are only required to pay 50% of the monthly insurance premium. The components of the net periodic benefit cost related to our defined benefit plan consist of the following (in thousands): Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Service cost $ 93 $ 278 Interest cost 53 159 Amortization of prior service cost 2 6 Net periodic benefit cost $ 148 $ 443

Income (Loss) per Share

Income (Loss) per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Income (Loss) per Share	Note 13—Income (Loss) per Share Basic income (loss) per share is computed by dividing net income (loss) by the sum of the weighted-average number of common shares outstanding and the weighted-average number of shares issuable under the common stock warrants, representing 586,650 shares and 692,562 shares during the three and nine months ended September 30, 2015 and 801,088 shares during the three and nine months September 30, 2014, respectively. The common stock warrants are included in the calculation of basic income (loss) per share because they are issuable for minimal consideration. Unvested restricted stock is excluded from the basic weighted-average common stock outstanding computation as these shares are not considered earned until vested. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Net income (loss) $ 14,740 $ (39,456 ) $ 26,925 $ (78,701 ) Undistributed income allocated to participating securities (2) 228 — 217 — Net income (loss) attributable to common stockholders $ 14,512 $ (39,456 ) $ 26,708 $ (78,701 ) Basic weighted-average common stock shares outstanding 37,390 33,137 37,304 31,311 Add dilutive effects of common stock equivalents (1) 10 — 27 — Diluted weighted-average common stock shares outstanding 37,400 33,137 37,331 31,311 Basic income (loss) per common share $ 0.39 $ (1.19 ) $ 0.72 $ (2.51 ) Diluted income (loss) per common share $ 0.39 $ (1.19 ) $ 0.72 $ (2.51 ) ________________________________________________________ (1) Entities with a net loss are prohibited from including potential common shares in the computation of diluted per share amounts; therefore, we have utilized the basic shares outstanding to calculate both basic and diluted loss per share for the three and nine months ended September 30, 2014 . (2) Participating securities include restricted stock that has been issued but is not yet vested. For the three and nine months ended September 30, 2015 , our weighted-average potentially dilutive securities excluded from the calculation of diluted shares outstanding consisted of 587 thousand and 303 thousand shares of unvested restricted stock and 10 thousand and 27 thousand stock options, respectively. For the three and nine months ended September 30, 2014 , there were 609 thousand and 523 thousand potentially dilutive securities excluded from the calculation of diluted shares outstanding.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 14—Income Taxes In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future results of operations, and tax planning strategies in making this assessment. Based upon the level of historical taxable income, significant book losses during prior periods, and projections for future results of operations over the periods in which the deferred tax assets are deductible, among other factors, management continues to conclude that we did not meet the “more likely than not” requirement in order to recognize deferred tax assets and a valuation allowance has been recorded for the full amount of our net deferred tax assets at September 30, 2015 . During the nine months ended September 30, 2015 , we recorded a benefit for the release of $18.3 million of our valuation allowance as we expect to be able to utilize a portion of our net operating loss ("NOL") carryforwards to offset future taxable income of Mid Pac. During the three and nine month periods ended September 30, 2015 and 2014 , no adjustments were recognized for uncertain tax positions. Our net taxable income must be apportioned to various states based upon the income tax laws of the states in which we derive our revenue. Our NOL carryforwards will not always be available to offset taxable income apportioned to the various states. The states from which some of our revenues are derived are not the same states in which our NOLs were incurred; therefore we expect to incur state tax liabilities on the net income of our commodity marketing and logistics segment, our refining and distribution segment and our retail segment. Excluding the impact of releasing the valuation allowance, state tax expense was approximately $174 thousand and $217 thousand for the three and nine months ended September 30, 2015 , respectively. State income tax benefit of approximately $150 thousand and $113 thousand was recognized for the three and nine months ended September 30, 2014 , respectively. We will continue to assess the realizability of our deferred tax assets based on consideration of actual and projected operating results and tax planning strategies. Should actual operating results continue to improve, the amount of the deferred tax asset considered more likely than not to be realizable could be increased.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Note 15—Segment Information During the first quarter of 2015, we changed our reportable segments to separate our retail operations from our refining operations due to a change in senior leadership, organizational structure, the acquisition of Mid Pac and to reflect how we currently make financial decisions and allocate resources. Beginning with the second quarter of 2015, the results of operations of Mid Pac are included in our Refining and Distribution and Retail segments. We previously reported results for the following three business segments: (i) Refining, Distribution and Marketing, (ii) Natural Gas and Oil Production and (iii) Commodity Marketing and Logistics. Effective in the first quarter of 2015, our reportable segments are: (i) Refining and Distribution, (ii) Retail, (iii) Natural Gas and Oil Production, and (iv) Commodity Marketing and Logistics. Corporate and Other includes administrative and other costs. During the fourth quarter of 2014, we changed the methodology used to allocate General and Administrative Expenses to our operating segments due to changes in our organizational structure. We have recast the segment information for the three and nine months ended September 30, 2014 below to conform to the current period presentation. Summarized financial information concerning reportable segments consists of the following (in thousands): Three months ended September 30, 2015 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 458,238 $ 81,434 $ — $ 10,904 $ — $ 550,576 Intersegment elimination (55,073 ) — — — — (55,073 ) Revenues 403,165 81,434 — 10,904 — 495,503 Cost of revenues 330,702 60,655 — 13,796 — 405,153 Operating expense, excluding DD&A 28,568 9,479 — — — 38,047 Lease operating expenses — — 1,575 — — 1,575 Depreciation, depletion, and amortization 2,565 1,492 10 231 298 4,596 Impairment expense — — — 9,639 — 9,639 General and administrative expense 4,544 953 — 701 3,741 9,939 Acquisition and integration costs 186 — — — 94 280 Operating income (loss) 36,600 8,855 (1,585 ) (13,463 ) (4,133 ) 26,274 Interest expense and financing costs, net (4,387 ) Other expense, net (45 ) Change in value of common stock warrants (1,023 ) Change in value of contingent consideration (4,255 ) Equity loss from Laramie Energy Company (1,355 ) Income before income taxes 15,209 Income tax expense (469 ) Net income $ 14,740 Capital expenditures $ 3,705 $ 213 $ — $ 10 $ 2,056 $ 5,984 Three months ended September 30, 2014 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 774,367 $ 62,929 $ 1,667 $ 53,406 $ — $ 892,369 Intersegment elimination (38,083 ) — — — — (38,083 ) Revenues 736,284 62,929 1,667 53,406 — 854,286 Cost of revenues 725,876 51,945 — 52,617 — 830,438 Operating expense, excluding DD&A 35,884 6,845 — — — 42,729 Lease operating expense — — 1,204 — — 1,204 Depreciation, depletion, and amortization 2,125 640 571 499 83 3,918 Loss on sale of assets, net — — 624 — — 624 General and administrative expense 2,379 1,065 320 1,171 3,180 8,115 Acquisition and integration costs 98 — — — 3,758 3,856 Operating (loss) income (30,078 ) 2,434 (1,052 ) (881 ) (7,021 ) (36,598 ) Interest expense and financing costs, net (7,076 ) Other expense, net (164 ) Change in value of common stock warrants 2,401 Change in value of contingent consideration 996 Equity earnings from Laramie Energy Company 835 Loss before income taxes (39,606 ) Income tax benefit 150 Net loss $ (39,456 ) Capital expenditures $ 3,816 $ 49 $ 4 $ — $ 178 $ 4,047 Nine months ended September 30, 2015 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 1,491,309 $ 209,091 $ 2,185 $ 76,983 $ — $ 1,779,568 Intersegment elimination (138,585 ) — — (18,110 ) — (156,695 ) Revenues 1,352,724 209,091 2,185 58,873 — 1,622,873 Cost of revenues 1,169,287 158,383 — 60,020 — 1,387,690 Operating expense, excluding DD&A 77,637 25,161 — — — 102,798 Lease operating expenses — — 4,614 — — 4,614 Depreciation, depletion, and amortization 7,723 3,675 33 689 732 12,852 Impairment expense — — — 9,639 — 9,639 General and administrative expense 13,254 2,738 400 4,064 11,422 31,878 Acquisition and integration costs 186 — — — 1,625 1,811 Operating income (loss) 84,637 19,134 (2,862 ) (15,539 ) (13,779 ) 71,591 Interest expense and financing costs, net (15,769 ) Loss on termination of financing agreements (19,229 ) Other expense, net (199 ) Change in value of common stock warrants (2,732 ) Change in value of contingent consideration (18,679 ) Equity loss from Laramie Energy Company (6,131 ) Income before income taxes 8,852 Income tax benefit 18,073 Net income $ 26,925 Capital expenditures $ 12,291 $ 715 $ — $ 10 $ 2,841 $ 15,857 Nine months ended September 30, 2014 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 2,227,193 $ 174,179 $ 5,083 $ 102,384 $ — $ 2,508,839 Intersegment elimination (109,170 ) — — — — (109,170 ) Revenues 2,118,023 174,179 5,083 102,384 — 2,399,669 Cost of revenues 2,078,038 147,351 — 97,399 — 2,322,788 Operating expense, excluding DD&A 91,013 18,884 — — — 109,897 Lease operating expense — — 3,963 — — 3,963 Depreciation, depletion, and amortization 5,746 1,751 1,096 1,513 163 10,269 Loss on sale of assets, net — — 624 — — 624 General and administrative expense 3,912 1,716 564 3,084 9,506 18,782 Acquisition and integration costs 4,126 — — — 5,000 9,126 Operating (loss) income (64,812 ) 4,477 (1,164 ) 388 (14,669 ) (75,780 ) Interest expense and financing costs, net (13,980 ) Other expense, net (304 ) Change in value of common stock warrants 4,118 Change in value of contingent consideration 5,758 Equity loss from Laramie Energy Company 1,374 Loss before income taxes (78,814 ) Income tax expense 113 Net loss $ (78,701 ) Capital expenditures $ 8,577 $ 149 $ 312 $ 300 $ 618 $ 9,956

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 16—Related Party Transactions Term Loan Certain of our stockholders, or affiliates of our stockholders, are the lenders under our Term Loan. In previous years, they received common stock warrants exercisable for shares of common stock in connection with the origination of the Term Loan. During the three months ended September 30, 2015, one of our stockholders and its affiliates exercised 404,013 warrants with a fair value of $7.7 million . Equity Group Investments ("EGI") and Whitebox - Service Agreements On September 17, 2013, we entered into letter agreements (“Services Agreements”) with Equity Group Investments (“EGI”), an affiliate of Zell Credit Opportunities Fund, LP ("ZCOF"), and Whitebox Advisors, LLC ("Whitebox"), each of which owns 10% or more of our common stock directly or through affiliates. Pursuant to the Services Agreements, EGI and Whitebox agreed to provide us with ongoing strategic, advisory and consulting services that may include (i) advice on financing structures and our relationship with lenders and bankers, (ii) advice regarding public and private offerings of debt and equity securities, (iii) advice regarding asset dispositions, acquisitions or other asset management strategies, (iv) advice regarding potential business acquisitions, dispositions or combinations involving us or our affiliates, or (v) such other advice directly related or ancillary to the above strategic, advisory and consulting services as may be reasonably requested by us. EGI and Whitebox will not receive a fee for the provision of the strategic, advisory or consulting services set forth in the Services Agreements, but may be periodically reimbursed by us, upon request, for (i) travel and out of pocket expenses, provided that in the event that such expenses exceed $50 thousand in the aggregate with respect to any single proposed matter, EGI or Whitebox, as applicable, will obtain our consent prior to incurring additional costs, and (ii) provided that we provide prior consent to their engagement with respect to any particular proposed matter, all reasonable fees and disbursements of counsel, accountants and other professionals incurred in connection with EGI’s or Whitebox’s, as applicable, services under the Services Agreements. In consideration of the services provided by EGI and Whitebox under the Services Agreements, we agreed to indemnify each of them for certain losses incurred by them relating to or arising out of the Services Agreements or the services provided thereunder. The Services Agreements have a term of one year and will be automatically extended for successive one -year periods unless terminated by either party at least 60 days prior to any extension date. There were no significant costs incurred related to these agreements during the three and nine months ended September 30, 2015 and 2014. In October 2015, management terminated its Services Agreement with Whitebox.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 17—Subsequent Events In October 2015, management notified its employees that it plans to terminate the defined contribution pension plan and the post-retirement medical plan on December 31, 2015. Pursuant to the terms of the 2015 Collective Bargaining Agreement between HIE and the United Steelworkers Union, Local 12-591, the union has the right to request that HIE participate in mediation regarding this decision. As of September 30, 2015 , we have approximately $6 million accrued related to the post-retirement medical plan.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of Par. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts from prior periods have been reclassified to conform to the current presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements contained in this report include all material adjustments of a normal recurring nature that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the complete fiscal year, or for any other period. The condensed consolidated balance sheet as of December 31, 2014 was derived from our audited consolidated financial statements as of that date. These unaudited condensed consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in our Current Report on Form 8-K filed on May 22, 2015.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosures. Actual amounts could differ from these estimates. On an ongoing basis, we review our estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. Significant estimates include the fair value of certain assets and liabilities, including those acquired in business combinations, natural gas and oil reserves, income taxes and the valuation allowances related to deferred tax assets, derivatives, asset retirement obligations, contingencies and litigation accruals.
Accounting Principles Not Yet Adopted	Accounting Principles Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). The FASB’s objective was to provide a more robust framework to improve comparability of revenue recognition practices across entities by removing most industry and transaction-specific guidance, align GAAP with International Financial Reporting Standards, and provide more useful information to financial statement users. This authoritative guidance changes the way entities recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ("ASU No. 2015-14"), which defers the effective date of ASU 2015-09 by one year. ASU No. 2014-09 is now effective for interim and annual periods beginning after December 15, 2017 and early adoption is permitted for interim and annual periods beginning after December 15, 2016. ASU No. 2014-09 allows for either full retrospective adoption or modified retrospective adoption. We are in the process of determining the method of adoption and the impact this guidance will have on our financial condition, results of operations and cash flows. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2016 and early adoption is permitted. We do not expect the adoption of ASU 2014-15 to have a material impact on our financial condition, results of operations and cash flows. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 changes the consolidation analysis required under GAAP by eliminating the presumption that a general partner should consolidate a limited partnership and modifying the evaluation of whether limited partnerships are Variable Interest Entities or voting interest entities. Under the amended guidance, limited partners would be required to consolidate a partnership if the limited partner retains certain powers and obligations. The amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods beginning after December 15, 2017. ASU 2015-02 allows for either full retrospective adoption or modified retrospective adoption. Early adoption is permitted, but the guidance must be applied as of the beginning of the annual period containing the adoption date. We are in the process of determining the method of adoption and the impact this guidance will have on our financial condition, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, Interest- Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 changes the balance sheet classification of debt issuance costs. Under current GAAP, debt issuance costs are reported on the balance sheet as assets and amortized as interest expense. ASU 2015-03 requires that debt issuance costs be presented as a direct reduction from the carrying amount of the related debt liability, which is similar to the presentation of debt discounts or premiums. Debt issuance costs will continue to be amortized to interest expense using the effective interest method. In August 2015, the FASB issued ASU No. 2015-15, Interest- Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements ("ASU 2015-15"). ASU 2015-15 clarifies that the guidance in ASU 2015-03 does not apply to debt issuance costs related to line-of-credit arrangements. Line-of-credit arrangements will continue to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt costs ratably over the term of the arrangement. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2015. ASU 2015-03 should be adopted on a retrospective basis and early adoption is permitted. As of September 30, 2015 and December 31, 2014 , we had $8.3 million and $13.2 million of debt issuance costs included in Other long-term assets on our unaudited condensed consolidated balance sheets, respectively. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory ("ASU 2015-11"). ASU 2015-11 changes the inventory measurement principle for entities using the first-in, first out (FIFO) or average cost methods. For entities utilizing one of these methods, the inventory measurement principle will change from lower of cost or market to the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using last-in, first-out or the retail inventory method. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2016. ASU 2015-11 should be adopted prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Our commodity inventories are currently stated at the lower of cost or market value using the FIFO accounting method. We value merchandise, spare parts, materials, and supplies at average cost. We are currently evaluating the provisions and assessing the impact, if any, this amendment may have on our financial condition and results of operations. Accounting Principle Adopted In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Under ASU 2015-16, the effect on earnings resulting from changes to the provisional amounts, calculated as if the accounting had been completed as of the acquisition date, must be recorded in the reporting period in which the adjustment amounts are determined rather than retrospectively. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2015. ASU 2015-16 should be adopted prospectively to adjustments to provisional amounts occurring after the effective date of the update and earlier application is permitted for financial statements that have not been issued. We adopted this ASU during the quarter ended September 30, 2015 and applied its amendments to the measurement period adjustments made during the three months ended September 30, 2015. Please read Note 4—Acquisition for further information.

Equity Method Investments Discl

Equity Method Investments Disclosure (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The change in our equity investment in Laramie is as follows (in thousands): Nine Months Ended Beginning balance $ 104,657 Equity loss from Laramie (6,743 ) Accretion of basis difference 612 Capital contributions 27,529 Ending balance $ 126,055
Equity Method Investees Financial Information	Summarized financial information for Laramie is as follows (in thousands): September 30, 2015 December 31, 2014 Current assets $ 10,976 $ 13,168 Non-current assets 498,527 468,379 Current liabilities 23,280 17,103 Non-current liabilities 78,334 107,087 Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Natural gas and oil revenues $ 11,464 $ 21,347 $ 32,687 $ 62,315 Income (loss) from operations (6,201 ) 870 (21,487 ) 6,468 Net income (loss) (4,717 ) 2,111 (20,126 ) 2,835

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	A summary of the preliminary estimated fair value of the assets acquired and liabilities assumed is as follows (in thousands): Cash $ 10,007 Accounts receivable 9,905 Inventories 5,375 Prepaid and other current assets 1,444 Property, plant and equipment 41,878 Land 34,800 Goodwill 28,181 Intangible assets 33,647 Other non-current assets 1,228 Accounts payable and other current liabilities (11,331 ) Deferred tax liability (18,290 ) Other non-current liabilities (7,235 ) Total $ 129,609
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the Mid Pac acquisition had been completed on January 1, 2014 (in thousands): Three Months Ended Nine Months Ended Nine Months Ended Revenues (1) $ 922,087 $ 1,649,915 $ 2,594,997 Net income (loss) (1) (39,139 ) 10,069 (60,400 ) _______________________________________________________ (1) The results of operations of Mid Pac for the three months ended September 30, 2015 are included in our condensed consolidated statement of operations for the entire period; therefore, the pro forma financial information for the three months ended September 30, 2015 is not presented in the table above.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories at September 30, 2015 consist of the following (in thousands): Titled Inventory Supply and Offtake Agreements (1) Total Crude oil and feedstocks $ 8,237 $ 70,683 $ 78,920 Refined products and blend stock 29,019 106,650 135,669 Warehouse stock and other 17,380 — 17,380 Total $ 54,636 $ 177,333 $ 231,969 Inventories at December 31, 2014 consist of the following (in thousands): Titled Inventory Supply and Exchange Agreements (1) Total Crude oil and feedstocks $ 17,924 $ 62,594 $ 80,518 Refined products and blend stock 29,998 118,375 148,373 Warehouse stock and other 14,962 — 14,962 Total $ 62,884 $ 180,969 $ 243,853 ________________________________________________________ (1) Please read Note 7—Inventory Financing Agreements for further information.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	During the nine months ended September 30, 2015 , the change in the carrying amount of goodwill was as follows (in thousands): Balance at beginning of period $ 20,786 Acquisition of Koko'oha (1) 28,181 Impairment expense (6,990 ) Balance at end of period $ 41,977 ________________________________________________________ (1) Please read Note 4—Acquisition for further discussion.
Schedule of Finite-Lived Intangible Assets	Intangible assets consist of the following (in thousands): September 30, 2015 December 31, 2014 Intangible assets: Supplier relationships $ — $ 3,360 Railcar leases 3,249 3,249 Trade names and trademarks 6,267 4,689 Customer relationships 32,069 — Total intangible assets $ 41,585 $ 11,298 Accumulated amortization: Supplier relationships $ — $ (516 ) Railcar leases (1,787 ) (1,301 ) Trade name and trademarks (3,146 ) (1,975 ) Customer relationships (1,063 ) — Total accumulated amortization $ (5,996 ) $ (3,792 ) Net: Supplier relationships $ — $ 2,844 Railcar leases 1,462 1,948 Trade name and trademarks 3,121 2,714 Customer relationships 31,006 — Total intangible assets, net $ 35,589 $ 7,506
Finite-lived Intangible Assets Amortization Expense	Expected amortization expense for each of the next five years and thereafter is as follows (in thousands): Year Ended Amount 2015 $ 1,266 2016 4,412 2017 3,307 2018 2,658 2019 2,658 Thereafter 21,288 Total $ 35,589

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our outstanding debt (in thousands): September 30, 2015 December 31, 2014 Term Loan $ 93,851 $ 87,360 HIE Retail Credit Agreement 27,857 22,750 Texadian Uncommitted Credit Agreement — 26,500 Mid Pac Credit Agreement 47,917 — Total debt, net of unamortized debt discount 169,625 136,610 Less current maturities (43,373 ) (29,100 ) Long-term debt, net of current maturities and unamortized discount $ 126,252 $ 107,510
Contractual Obligation, Fiscal Year Maturity Schedule	Annual maturities of our long-term debt for the next five years and thereafter are as follows (in thousands): Year Amount Due 2015 $ 2,113 2016 47,540 2017 8,452 2018 63,217 2019 8,452 Thereafter 39,851 $ 169,625
Schedule Of Leverage Ratio	Pursuant to the Mid Pac Credit Agreement, Mid Pac is required to comply with various affirmative and negative covenants affecting its business and operations, including compliance with a minimum fixed charge coverage ratio of not less than 1.15 to 1.00, a minimum tangible net worth of $12.0 million , and a maximum leverage ratio determined as follows: Period (during and as of last day of) Maximum Leverage Ratio September 30, 2015 5.25 to 1.00 December 31, 2015 5.00 to 1.00 2016 fiscal year 4.75 to 1.00 2017 fiscal year 4.25 to 1.00 2018 fiscal year 4.00 to 1.00 2019 fiscal year 3.50 to 1.00 2020 fiscal year, and at all times thereafter 3.25 to 1.00 In addition, the Second Amendment modifies the financial covenant relating to HIE Retail’s maximum Leverage Ratio (as defined in the Retail Credit Agreement), which is measured on a quarterly basis commencing with the fiscal quarter ending June 30, 2015 and building up to a rolling four-quarter basis, as follows for the last day of each fiscal year: Period (during and as of the last day of) Maximum Leverage Ratio 2015 Fiscal Year 5.00 to 1.00 2016 Fiscal Year 4.75 to 1.00 2017 Fiscal Year 4.50 to 1.00 2018 Fiscal Year 4.25 to 1.00 2019 Fiscal Year, and at all times thereafter 4.00 to 1.00
Schedule Of Revolver Applicable Margin for Debt Instrument	The Mid Pac Term Loan applicable margin is as specified below: Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Basis Rate Loans (basis points) (basis points) < 3.00x 200 — 3.00x - 3.50x 225 25 > 3.50x 250 50 The Mid Pac Revolving Credit Facility applicable margin is as specified below: Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Basis Rate Loans (basis points) (basis points) < 3.00x 175 (25) 3.00x - 3.50x 200 — > 3.50x 225 25

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Significant inputs used in the Monte Carlo simulation analysis include: September 30, 2015 December 31, 2014 Stock price $20.83 $16.25 Weighted average exercise price $0.10 $0.10 Term (years) 6.92 7.67 Risk-free rate 1.73% 2.01% Expected volatility 50.0% 50.2%
Fair Value, Assets Measured on Recurring Basis	Our assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 and their placement within our unaudited condensed consolidated balance sheets consist of the following (in thousands): Balance Sheet Location September 30, 2015 December 31, 2014 Asset (Liability) Common stock warrants Common stock warrants $ (7,164 ) $ (12,123 ) Contingent consideration Contingent consideration (27,810 ) (9,131 ) Commodity derivatives (1) Prepaid and other current assets 2,151 1,015 Commodity derivatives (1) Other accrued liabilities (5,194 ) — Commodity derivatives (1) Other liabilities (727 ) We elect to offset fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting agreement. Our consolidated unaudited balance sheets present derivative assets and liabilities on a net basis. Our cash margin that is required as collateral deposits cannot be offset against the fair value of open contracts except in the event of default. Fair value amounts by hierarchy level as of September 30, 2015 and December 31, 2014 are presented gross in the tables below (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Total $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Liabilities Common stock warrants $ — $ — $ (7,164 ) $ (7,164 ) $ — $ (7,164 ) Contingent consideration — — (27,810 ) (27,810 ) — (27,810 ) Commodity derivatives (17 ) (24,880 ) — (24,897 ) 18,976 (5,921 ) Total $ (17 ) $ (24,880 ) $ (34,974 ) $ (59,871 ) $ 18,976 $ (40,895 ) December 31, 2014 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Total $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Liabilities Common stock warrants $ — $ — $ (12,123 ) $ (12,123 ) $ — $ (12,123 ) Contingent consideration — — (9,131 ) (9,131 ) — (9,131 ) Total $ — $ — $ (21,254 ) $ (21,254 ) $ — $ (21,254 )
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table summarizes the pre-tax gains (losses) recognized in Net income (loss) on our unaudited condensed consolidated statement of operations resulting from changes in assets and liabilities valued at fair value (in thousands): Income Statement Classification Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Common stock warrants Change in value of common stock warrants $ (1,023 ) $ 2,401 $ (2,732 ) $ 4,118 Contingent consideration Change in value of contingent consideration (4,255 ) 996 (18,679 ) 5,758 Commodity derivatives Cost of revenues 10,940 639 13,512 (693 )
Offsetting Assets	Fair value amounts by hierarchy level as of September 30, 2015 and December 31, 2014 are presented gross in the tables below (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Total $ 243 $ 20,884 $ — $ 21,127 $ (18,976 ) $ 2,151 Liabilities Common stock warrants $ — $ — $ (7,164 ) $ (7,164 ) $ — $ (7,164 ) Contingent consideration — — (27,810 ) (27,810 ) — (27,810 ) Commodity derivatives (17 ) (24,880 ) — (24,897 ) 18,976 (5,921 ) Total $ (17 ) $ (24,880 ) $ (34,974 ) $ (59,871 ) $ 18,976 $ (40,895 ) December 31, 2014 Level 1 Level 2 Level 3 Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet Assets Commodity derivatives $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Total $ 1,015 $ — $ — $ 1,015 $ — $ 1,015 Liabilities Common stock warrants $ — $ — $ (12,123 ) $ (12,123 ) $ — $ (12,123 ) Contingent consideration — — (9,131 ) (9,131 ) — (9,131 ) Total $ — $ — $ (21,254 ) $ (21,254 ) $ — $ (21,254 )
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	A roll forward of Level 3 financial instruments measured at fair value on a recurring basis is as follows (in thousands): Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Balance, at beginning of period $ (37,387 ) $ (22,837 ) $ (21,254 ) $ (29,316 ) Settlements 7,691 — 7,691 — Acquired — — — — Total unrealized income (loss) included in earnings (5,278 ) 3,397 (21,411 ) 9,876 Balance, at end of period $ (34,974 ) $ (19,440 ) $ (34,974 ) $ (19,440 )
Fair Value and Carrying Value Liabilities Measured On Recurring Basis	The carrying value and fair value of long-term debt and other financial instruments as of September 30, 2015 and December 31, 2014 are as follows (in thousands): September 30, 2015 Carrying Value Fair Value (1) Term Loan $ 93,851 $ 99,822 HIE Retail Credit Agreement (2) 27,857 27,857 Mid Pac Credit Agreement (2) 47,917 47,917 Common stock warrants 7,164 7,164 Contingent consideration 27,810 27,810 December 31, 2014 Carrying Value Fair Value (1) Term Loan $ 87,360 $ 87,068 HIE Retail Credit Agreement (2) 22,750 22,750 Texadian Uncommitted Credit Agreement 26,500 26,500 Common stock warrants 12,123 12,123 Contingent consideration 9,131 9,131 _________________________________________________________ (1) The fair values of these instruments are considered Level 3 measurements in the fair value hierarchy. (2) Fair value approximates carrying value due to the floating rate interest which approximates a current market rate.

Benefit Plans (Tables)

Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Periodic Benefit Cost Not yet Recognized	The components of the net periodic benefit cost related to our defined benefit plan consist of the following (in thousands): Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Service cost $ 93 $ 278 Interest cost 53 159 Amortization of prior service cost 2 6 Net periodic benefit cost $ 148 $ 443

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule Of Computation Of Basic And Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Net income (loss) $ 14,740 $ (39,456 ) $ 26,925 $ (78,701 ) Undistributed income allocated to participating securities (2) 228 — 217 — Net income (loss) attributable to common stockholders $ 14,512 $ (39,456 ) $ 26,708 $ (78,701 ) Basic weighted-average common stock shares outstanding 37,390 33,137 37,304 31,311 Add dilutive effects of common stock equivalents (1) 10 — 27 — Diluted weighted-average common stock shares outstanding 37,400 33,137 37,331 31,311 Basic income (loss) per common share $ 0.39 $ (1.19 ) $ 0.72 $ (2.51 ) Diluted income (loss) per common share $ 0.39 $ (1.19 ) $ 0.72 $ (2.51 ) ________________________________________________________ (1) Entities with a net loss are prohibited from including potential common shares in the computation of diluted per share amounts; therefore, we have utilized the basic shares outstanding to calculate both basic and diluted loss per share for the three and nine months ended September 30, 2014 . (2) Participating securities include restricted stock that has been issued but is not yet vested.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summarized financial information concerning reportable segments consists of the following (in thousands): Three months ended September 30, 2015 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 458,238 $ 81,434 $ — $ 10,904 $ — $ 550,576 Intersegment elimination (55,073 ) — — — — (55,073 ) Revenues 403,165 81,434 — 10,904 — 495,503 Cost of revenues 330,702 60,655 — 13,796 — 405,153 Operating expense, excluding DD&A 28,568 9,479 — — — 38,047 Lease operating expenses — — 1,575 — — 1,575 Depreciation, depletion, and amortization 2,565 1,492 10 231 298 4,596 Impairment expense — — — 9,639 — 9,639 General and administrative expense 4,544 953 — 701 3,741 9,939 Acquisition and integration costs 186 — — — 94 280 Operating income (loss) 36,600 8,855 (1,585 ) (13,463 ) (4,133 ) 26,274 Interest expense and financing costs, net (4,387 ) Other expense, net (45 ) Change in value of common stock warrants (1,023 ) Change in value of contingent consideration (4,255 ) Equity loss from Laramie Energy Company (1,355 ) Income before income taxes 15,209 Income tax expense (469 ) Net income $ 14,740 Capital expenditures $ 3,705 $ 213 $ — $ 10 $ 2,056 $ 5,984 Three months ended September 30, 2014 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 774,367 $ 62,929 $ 1,667 $ 53,406 $ — $ 892,369 Intersegment elimination (38,083 ) — — — — (38,083 ) Revenues 736,284 62,929 1,667 53,406 — 854,286 Cost of revenues 725,876 51,945 — 52,617 — 830,438 Operating expense, excluding DD&A 35,884 6,845 — — — 42,729 Lease operating expense — — 1,204 — — 1,204 Depreciation, depletion, and amortization 2,125 640 571 499 83 3,918 Loss on sale of assets, net — — 624 — — 624 General and administrative expense 2,379 1,065 320 1,171 3,180 8,115 Acquisition and integration costs 98 — — — 3,758 3,856 Operating (loss) income (30,078 ) 2,434 (1,052 ) (881 ) (7,021 ) (36,598 ) Interest expense and financing costs, net (7,076 ) Other expense, net (164 ) Change in value of common stock warrants 2,401 Change in value of contingent consideration 996 Equity earnings from Laramie Energy Company 835 Loss before income taxes (39,606 ) Income tax benefit 150 Net loss $ (39,456 ) Capital expenditures $ 3,816 $ 49 $ 4 $ — $ 178 $ 4,047 Nine months ended September 30, 2015 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 1,491,309 $ 209,091 $ 2,185 $ 76,983 $ — $ 1,779,568 Intersegment elimination (138,585 ) — — (18,110 ) — (156,695 ) Revenues 1,352,724 209,091 2,185 58,873 — 1,622,873 Cost of revenues 1,169,287 158,383 — 60,020 — 1,387,690 Operating expense, excluding DD&A 77,637 25,161 — — — 102,798 Lease operating expenses — — 4,614 — — 4,614 Depreciation, depletion, and amortization 7,723 3,675 33 689 732 12,852 Impairment expense — — — 9,639 — 9,639 General and administrative expense 13,254 2,738 400 4,064 11,422 31,878 Acquisition and integration costs 186 — — — 1,625 1,811 Operating income (loss) 84,637 19,134 (2,862 ) (15,539 ) (13,779 ) 71,591 Interest expense and financing costs, net (15,769 ) Loss on termination of financing agreements (19,229 ) Other expense, net (199 ) Change in value of common stock warrants (2,732 ) Change in value of contingent consideration (18,679 ) Equity loss from Laramie Energy Company (6,131 ) Income before income taxes 8,852 Income tax benefit 18,073 Net income $ 26,925 Capital expenditures $ 12,291 $ 715 $ — $ 10 $ 2,841 $ 15,857 Nine months ended September 30, 2014 Refining and Distribution Retail Natural Gas and Oil Production Commodity Marketing and Logistics Corporate and Other Total Segment revenues $ 2,227,193 $ 174,179 $ 5,083 $ 102,384 $ — $ 2,508,839 Intersegment elimination (109,170 ) — — — — (109,170 ) Revenues 2,118,023 174,179 5,083 102,384 — 2,399,669 Cost of revenues 2,078,038 147,351 — 97,399 — 2,322,788 Operating expense, excluding DD&A 91,013 18,884 — — — 109,897 Lease operating expense — — 3,963 — — 3,963 Depreciation, depletion, and amortization 5,746 1,751 1,096 1,513 163 10,269 Loss on sale of assets, net — — 624 — — 624 General and administrative expense 3,912 1,716 564 3,084 9,506 18,782 Acquisition and integration costs 4,126 — — — 5,000 9,126 Operating (loss) income (64,812 ) 4,477 (1,164 ) 388 (14,669 ) (75,780 ) Interest expense and financing costs, net (13,980 ) Other expense, net (304 ) Change in value of common stock warrants 4,118 Change in value of contingent consideration 5,758 Equity loss from Laramie Energy Company 1,374 Loss before income taxes (78,814 ) Income tax expense 113 Net loss $ (78,701 ) Capital expenditures $ 8,577 $ 149 $ 312 $ 300 $ 618 $ 9,956

Overview Additional Information

Overview Additional Information (Detail) - segment	9 Months Ended
	Sep. 30, 2015	Jul. 31, 2015	Jul. 30, 2015	May. 29, 2015	May. 28, 2015
Schedule of Equity Method Investments [Line Items]
Operating segments	4
Laramie [Member]
Schedule of Equity Method Investments [Line Items]
Ownership of Piceance Energy, LLC	32.40%	32.40%	34.00%	34.00%	33.34%

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Other Long Term Assets [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Debt issuance costs	$ 8.3	$ 13.2

Investment in Laramie Energy 35

Investment in Laramie Energy Company Additional Information (Detail) - USD ($)	Jul. 31, 2015	May. 29, 2015	Mar. 09, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jul. 30, 2015	May. 28, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Cash capital contribution						$ 27,529,000	$ 12,000
Depreciation, depletion, and amortization				$ 4,596,000	$ 3,918,000	12,852,000	10,269,000
Unrealized loss on derivative contracts						$ (4,786,000)	317,000
Amortization of natural gas and oil properties						15 years
Laramie [Member]
Schedule of Equity Method Investments [Line Items]
Ownership of Piceance Energy, LLC	32.40%	34.00%		32.40%		32.40%		34.00%	33.34%
Line credit maximum borrowing amount				$ 400,000,000		$ 400,000,000
Asset borrowing base currently at				110,000,000		110,000,000
Balance outstanding on the revolving credit facility				47,500,000		47,500,000
Cash capital contribution		$ 13,800,000	$ 13,800,000
Depreciation, depletion, and amortization				7,500,000	9,600,000	23,300,000	24,900,000
Unrealized loss on derivative contracts				(700,000)	$ 2,600,000	(5,100,000)	$ 2,400,000
Amount of equity in underlying assets exceeding carrying value				$ 14,100,000		$ 14,100,000				$ 14,700,000
Unaffiliated Third Party [Member] | Laramie [Member]
Schedule of Equity Method Investments [Line Items]
Cash capital contribution	$ 19,000,000

Investment in Laramie Energy 36

Investment in Laramie Energy Company Change in Equity Investment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Beginning balance			$ 104,657
Equity loss from Laramie	$ (1,355)	$ 835	(6,131)	$ 1,374
Ending balance	126,055		126,055
Laramie [Member]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Beginning balance			104,657
Equity loss from Laramie			(6,743)
Accretion of basis difference			612
Capital contributions			27,529
Ending balance	$ 126,055		$ 126,055

Investment in Laramie Energy 37

Investment in Laramie Energy Company Summarized Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
ASSETS
Current assets	$ 431,553		$ 431,553		$ 460,789
Current liabilities	358,041		358,041		310,806
Natural gas and oil revenues	0	$ 1,667	2,185	$ 5,083
Income (loss) from operations	26,274	(36,598)	71,591	(75,780)
Net income (loss)	14,740	(39,456)	26,925	(78,701)
Laramie [Member]
ASSETS
Current assets	10,976		10,976		13,168
Non-current assets	498,527		498,527		468,379
Current liabilities	23,280		23,280		17,103
Non-current liabilities	78,334		78,334		$ 107,087
Natural gas and oil revenues	11,464	21,347	32,687	62,315
Income (loss) from operations	(6,201)	870	(21,487)	6,468
Net income (loss)	$ (4,717)	$ 2,111	$ (20,126)	$ 2,835

Acquisitions (Detail)

Acquisitions (Detail) - USD ($) $ in Thousands		Apr. 01, 2015	Jun. 02, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Term loan				$ 169,625	$ 169,625		$ 169,625		$ 136,610
Increase to goodwill	[1]						28,181
Deferred tax liabilities				400	400		400
Revenues					495,503	$ 854,286	1,622,873	$ 2,399,669
Net income (loss)					14,740	$ (39,456)	26,925	$ (78,701)
Mid Pac Petroleum, LLC [Member]
Business Acquisition [Line Items]
Cash consideration transferred prior to certain post-closing adjustments		$ 74,400
Advanced deposits		15,000							$ 10,000
Increase to goodwill					(1,100)
Increase to property plant and equipment					2,100
Decrease in accounts payable					(200)
Revenues					49,900		103,500
Net income (loss)					$ 6,600		$ 9,400
Additional consideration transfered				$ 1,000
Mid Pac Petroleum, LLC [Member] | Mid Pac Petroleum, LLC [Member]
Business Acquisition [Line Items]
Term loan		45,300
Mid Pac Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Business Acquisition [Line Items]
Term loan		$ 55,000
Koko' oha Investments, Inc. [Member] | Mid Pac Petroleum, LLC [Member]
Business Acquisition [Line Items]
Outstanding membership interests of Mid Pac Petroleum, LLC			100.00%
[1]	Please read Note 4—Acquisition for further discussion.

Acquisitions Assets Acquired an

Acquisitions Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Apr. 01, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 41,977		$ 20,786
Mid Pac Petroleum, LLC [Member]
Business Acquisition [Line Items]
Cash		$ 10,007
Accounts receivable		9,905
Inventories		5,375
Prepaid and other current assets		1,444
Property, plant and equipment		41,878
Land		34,800
Goodwill		28,181
Intangible assets		33,647
Other non-current assets		1,228
Accounts payable and other current liabilities		(11,331)
Deferred tax liability		(18,290)
Other non-current liabilities		(7,235)
Total		$ 129,609

Acquisitions Pro forma financia

Acquisitions Pro forma financial information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Combinations [Abstract]
Revenues	[1]	$ 922,087	$ 1,649,915	$ 2,594,997
Net income (loss)	[1]	$ (39,139)	$ 10,069	$ (60,400)
[1]	The results of operations of Mid Pac for the three months ended September 30, 2015 are included in our condensed consolidated statement of operations for the entire period; therefore, the pro forma financial information for the three months ended September 30, 2015 is not presented in the table above.

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Crude oil and feedstocks		$ 78,920	$ 80,518
Refined products and blend stock		135,669	148,373
Warehouse stock and other		17,380	14,962
Total		231,969	243,853
Reserves for the lower of cost or market value of inventory		2,900	2,400
Titled Inventory [Member]
Crude oil and feedstocks		8,237	17,924
Refined products and blend stock		29,019	29,998
Warehouse stock and other		17,380	14,962
Total		54,636	62,884
Supply and Exchange Agreements [Member]
Crude oil and feedstocks	[1]	70,683	62,594
Refined products and blend stock	[1]	106,650	118,375
Warehouse stock and other	[1]	0	0
Total	[1]	$ 177,333	$ 180,969
[1]	Please read Note 7—Inventory Financing Agreements for further information.

Goodwill and Intangible Asset42

Goodwill and Intangible Assets Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 20,786
Acquisition of Koko'oha	28,181	[1]
Impairment expense	(6,990)
Goodwill, ending balance	$ 41,977
[1]	Please read Note 4—Acquisition for further discussion.

Goodwill and Intangible Asset43

Goodwill and Intangible Assets Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 41,585		$ 41,585		$ 11,298
Accumulated amortization of intangible assets	(5,996)		(5,996)		(3,792)
Total	35,589		35,589		7,506
Amortization expense	1,000	$ 900	2,800	$ 1,800
Supplier Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	0		0		3,360
Accumulated amortization of intangible assets	0		0		(516)
Total	0		0		2,844
Railcar Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	3,249		3,249		3,249
Accumulated amortization of intangible assets	(1,787)		(1,787)		(1,301)
Total	1,462		1,462		1,948
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	6,267		6,267		4,689
Accumulated amortization of intangible assets	(3,146)		(3,146)		(1,975)
Total	3,121		3,121		2,714
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	32,069		32,069		0
Accumulated amortization of intangible assets	(1,063)		(1,063)		0
Total	31,006		$ 31,006		$ 0
Mid Pac Petroleum, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Average useful life			13 years 7 months
Commodity Marketing And Logistics [Member] | Supplier Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived	$ 2,600

Goodwill and Intangible Asset44

Goodwill and Intangible Assets Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 1,266
2,016	4,412
2,017	3,307
2,018	2,658
2,019	2,658
Thereafter	21,288
Total	$ 35,589	$ 7,506

Inventory Financing Agreements

Inventory Financing Agreements (Textual) (Detail) barrel / d in Thousands	Jun. 01, 2015USD ($)barrel / dextension	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 01, 2015USD ($)payment
Supply and exchange agreement expenses		$ 4,387,000	$ 7,076,000	$ 15,769,000	$ 13,980,000
Loss on termination of financing agreements		0	0	19,229,000	0
Supply and Offtake Agreements [Member]
Supply and Offtake agreement term	3 years
Number of commitment extensions | extension	2
Commitment period	1 year
Barrels of crude per day provided by J. Aron | barrel / d	94
Handling fees		2,800,000		4,000,000
Supply and exchange agreement expenses		600,000		900,000
Amount of deferred payment arrangement	$ 125,000,000	55,784,048		55,784,048
Percentage of receivables and inventory for deferred payment arrangement	85.00%
Deferral arrangement fee	$ 1,300,000
Outstanding amount of deferred payment arrangement		28,300,000		28,300,000
Fee agreement receivable						$ 18,000,000
Number of fee agreement payments | payment						14
Supply and Exchange Agreements [Member]
Handling fees			4,600,000	6,900,000	12,000,000
Supply and exchange agreement expenses				$ 2,300,000
Interest expense and financing costs			$ 1,800,000		$ 4,900,000
Loss on termination of financing agreements		$ 17,400,000
Price variance loss on commitment	13,300,000
Accelerated deferred financing costs	5,600,000
Exit fee received	$ 1,500,000
London Interbank Offered Rate (LIBOR) [Member] | Supply and Offtake Agreements [Member]
Margin on LIBOR rate	3.75%
Deferred payment availability fee	0.75%

Debt Schedule of Debt (Detail)

Debt Schedule of Debt (Detail) - USD ($) $ in Thousands		Sep. 30, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Total debt, net of unamortized debt discount		$ 169,625		$ 136,610
Less current maturities		(43,373)		(29,100)
Long-term debt, net of current maturities and unamortized discount		126,252		107,510
Retail Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	[1]	27,857		22,750
Texadian Uncommitted Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit		0		26,500
Mid Pac Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit		47,917	[1]	0
Tranche B Loan [Member]
Debt Instrument [Line Items]
Long-term Line of Credit		$ 93,851		$ 87,360
[1]	Fair value approximates carrying value due to the floating rate interest which approximates a current market rate.

Debt Schedule of Maturities (De

Debt Schedule of Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2,015	$ 2,113
2,016	47,540
2,017	8,452
2,018	63,217
2,019	8,452
Thereafter	39,851
Total debt, net of unamortized debt discount	$ 169,625	$ 136,610

Debt Additional Information (De

Debt Additional Information (Detail)	Jun. 23, 2015USD ($)	Jun. 01, 2015USD ($)	Apr. 01, 2015USD ($)loanpayment	Sep. 30, 2015USD ($)	May. 15, 2015USD ($)	May. 14, 2015USD ($)	Mar. 31, 2015USD ($)	Feb. 20, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 25, 2013USD ($)
Debt Disclosure [Line Items]
Term loan				$ 169,625,000					$ 136,610,000
Number of quarterly principle payments | payment			28
Maximum number of LIBOR borrowings | loan			5
Fixed charge coverage ratio minimum				1.15
Minimum tangible compliance net worth				$ 12,000,000
Debt Instruments, Initial Offering Price	$ 750,000,000
ABL Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Line credit maximum borrowing amount								$ 200,000,000		$ 125,000,000
Amount available for issuance of letters of credit										$ 50,000,000
Texadian Uncommitted Credit Agreement [Member]
Debt Disclosure [Line Items]
Total capacity at period end				$ 6,000,000
Delayed Draw Term Loan Agreement [Member]
Debt Disclosure [Line Items]
Debt maturity							$ 35,000,000
Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Letters of credit issued						$ 0
Retail Credit Agreement [Member] | HIE Retail [Member] | Term Loan [Member]
Debt Disclosure [Line Items]
Line credit maximum borrowing amount					$ 22,000,000
Minimum required amount of cash on hand					3,000,000
Retail Credit Agreement [Member] | HIE Retail [Member] | Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Revolving credit outstanding						$ 0
If Leverage Ratio Is Less Than Three [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				175.00%
If Leverage Ratio Is Less Than Three [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				200.00%
If Leverage Ratio Is Less Than Three [Member] | Base Rate [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				(25.00%)
If Leverage Ratio Is Less Than Three [Member] | Base Rate [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				0.00%
If Leverage Ratio Is Between Three And Three Point Five [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				200.00%
If Leverage Ratio Is Between Three And Three Point Five [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				225.00%
If Leverage Ratio Is Between Three And Three Point Five [Member] | Base Rate [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				0.00%
If Leverage Ratio Is Between Three And Three Point Five [Member] | Base Rate [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				25.00%
If Leverage Ratio Is Greater Than Three Point Five [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				225.00%
If Leverage Ratio Is Greater Than Three Point Five [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				250.00%
If Leverage Ratio Is Greater Than Three Point Five [Member] | Base Rate [Member] | Mid Pac Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Margin rate				25.00%
If Leverage Ratio Is Greater Than Three Point Five [Member] | Base Rate [Member] | Mid Pac Term Loan [Member]
Debt Disclosure [Line Items]
Margin rate				50.00%
New Term Loans [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Term loan					$ 7,900,000
New Term Loans [Member] | Retail Credit Agreement [Member] | HIE Retail [Member] | Term Loan [Member]
Debt Disclosure [Line Items]
Prepayment fee percentage					1.00%
Mid Pac Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Line credit maximum borrowing amount			$ 5,000,000
Mid Pac Credit Agreement [Member] | Secured Debt [Member]
Debt Disclosure [Line Items]
Line credit maximum borrowing amount			50,000,000
Mid Pac Petroleum, LLC [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Term loan			45,300,000
Mid Pac Petroleum, LLC [Member] | Mid Pac Credit Agreement [Member]
Debt Disclosure [Line Items]
Term loan			$ 55,000,000
Other Operating Income (Expense) [Member] | ABL Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Financing costs expensed		$ 1,800,000
September 30, 2015 [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					5.25
December 31, 2015 [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					5
2015 Fiscal Year [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					5
2016 Fiscal Year [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4.75
2016 Fiscal Year [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4.75
2017 Fiscal Year [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4.25
2017 Fiscal Year [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4.5
2018 Fiscal Year [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4
2018 Fiscal Year [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4.25
2019 Fiscal Year [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					3.50
2019 Fiscal Year, and at all times thereafter [Member] | Retail Credit Agreement [Member] | HIE Retail [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					4
2020 fiscal Year, and all times thereafter [Member] | Retail Credit Agreement [Member] | Mid Pac Petroleum, LLC [Member]
Debt Disclosure [Line Items]
Maximum leverage ratio					3.25

Fair Value Measurements Narrati

Fair Value Measurements Narrative (Details) - shares	Sep. 30, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock warrants outstanding (in shares)	345,135	749,148

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value of Outstanding Common Stock Warrants (Detail) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Stock price (in usd per share)	$ 20.83	$ 16.25
Weighted average exercise price (in usd per share)	$ 0.10	$ 0.10
Term (years)	6 years 11 months	7 years 8 months
Risk-free rate	1.73%	2.01%
Expected volatility	50.00%	50.20%
Historical volatilities period	10 years
Fair value of common stock warrants (in usd per share)	$ 20.76	$ 16.17

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Prepaid Expenses and Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash collateral		$ 10,800
Other Long Term Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash collateral		7,000
Warrant [Member] | Warrant [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset (Liability)		(7,164)	$ (12,123)
Contingent Consideration Liability [Member] | Contingent Consideration Liability [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset (Liability)		(27,810)	(9,131)
Embedded Derivative [Member] | Prepaid Expenses and Other Current Assets [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset (Liability)	[1]	2,151	1,015
Options Collar [Member] | Other Accrued Liabilities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset (Liability)	[1]	(5,194)	$ 0
Options Collar [Member] | Other Liabilities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset (Liability)	[1]	$ (727)
[1]	Does not include cash collateral of $10.8 million recorded in Prepaid and other current assets and $7.0 million in Other long-term assets as of September 30, 2015.

Fair Value Measurements Pre-Tax

Fair Value Measurements Pre-Tax Gain (Loss) Recognized From Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Change In Value Of Warrants [Member] | Warrant [Member]
Derivatives not designated as hedges, Gain (loss) recognized in income	$ (1,023)	$ 2,401	$ (2,732)	$ 4,118
Change in Value of Contingent Consideration [Member]
Derivatives not designated as hedges, Gain (loss) recognized in income	(4,255)	996	(18,679)	5,758
Loss On Derivative Instruments, Net [Member] | Future [Member]
Derivatives not designated as hedges, Gain (loss) recognized in income	$ 10,940	$ 639	$ 13,512	$ (693)

Fair Value Measurements Derivat

Fair Value Measurements Derivative Offsetting Assets And Liabilities (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Gross Fair Value	$ 21,127	$ 1,015
Effect of Counter-party Netting	(18,976)	0
Net Carrying Value on Balance Sheet	2,151	1,015
Gross Fair Value	(59,871)	(21,254)
Effect of Counter-party Netting	18,976	0
Net Carrying Value on Balance Sheet	(40,895)	(21,254)
Fair Value, Inputs, Level 1 [Member]
Offsetting Assets [Line Items]
Gross Fair Value	243	1,015
Gross Fair Value	(17)	0
Fair Value, Inputs, Level 2 [Member]
Offsetting Assets [Line Items]
Gross Fair Value	20,884	0
Gross Fair Value	(24,880)	0
Fair Value, Inputs, Level 3 [Member]
Offsetting Assets [Line Items]
Gross Fair Value	0	0
Gross Fair Value	(34,974)	(21,254)
Exchange Traded [Member] | Future [Member]
Offsetting Assets [Line Items]
Gross Fair Value	21,127	1,015
Effect of Counter-party Netting	(18,976)	0
Net Carrying Value on Balance Sheet	2,151	1,015
Gross Fair Value	(24,897)
Effect of Counter-party Netting	18,976
Net Carrying Value on Balance Sheet	(5,921)
Exchange Traded [Member] | Fair Value, Inputs, Level 1 [Member] | Future [Member]
Offsetting Assets [Line Items]
Gross Fair Value	243	1,015
Gross Fair Value	(17)
Exchange Traded [Member] | Fair Value, Inputs, Level 3 [Member] | Future [Member]
Offsetting Assets [Line Items]
Gross Fair Value	0
Over the Counter [Member]
Offsetting Assets [Line Items]
Common stock warrants	7,164	12,123
Contingent consideration	27,810	9,131
Over the Counter [Member] | Fair Value, Inputs, Level 1 [Member]
Offsetting Assets [Line Items]
Common stock warrants	0	0
Contingent consideration	0	0
Over the Counter [Member] | Fair Value, Inputs, Level 2 [Member]
Offsetting Assets [Line Items]
Common stock warrants	0	0
Contingent consideration	0	0
Over the Counter [Member] | Fair Value, Inputs, Level 2 [Member] | Future [Member]
Offsetting Assets [Line Items]
Gross Fair Value	20,884	0
Gross Fair Value	(24,880)
Over the Counter [Member] | Fair Value, Inputs, Level 3 [Member]
Offsetting Assets [Line Items]
Common stock warrants	7,164	12,123
Contingent consideration	27,810	9,131
Over the Counter [Member] | Fair Value, Inputs, Level 3 [Member] | Future [Member]
Offsetting Assets [Line Items]
Gross Fair Value		$ 0
Gross Fair Value	$ 0

Fair Value Measurements Deriv54

Fair Value Measurements Derivative Instruments Measured at Fair Value (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, at beginning of period	$ (37,387)	$ (22,837)	$ (21,254)	$ (29,316)
Settlements	7,691	0	7,691	0
Acquired	0	0	0	0
Total unrealized income (loss) included in earnings	(5,278)	3,397	(21,411)	9,876
Balance, at end of period	$ (34,974)	$ (19,440)	$ (34,974)	$ (19,440)

Fair Value Measurements Carryin

Fair Value Measurements Carrying Value and Fair Value of Long-Term Debt and Other Financial Instruments (Detail) - USD ($) $ in Thousands		Sep. 30, 2015		Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Common stock warrants, Carrying Value		$ 7,164		$ 12,123
Contingent consideration liability, Carrying Value		27,810		9,131
Contingent consideration liability, Fair Value	[1]	$ 27,810		$ 9,131
Long term debt fair value		9.87%		14.11%
Retail Credit Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of credit, Carrying Value	[2]	$ 27,857		$ 22,750
Lines of credit, Fair Value	[1],[2]	27,857		22,750
Texadian Uncommitted Credit Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of credit, Carrying Value		0		26,500
Lines of credit, Fair Value	[1]			26,500
Mid Pac Credit Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of credit, Carrying Value		47,917	[2]	0
Lines of credit, Fair Value	[1],[2]	47,917
Tranche B Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of credit, Carrying Value		93,851		87,360
Lines of credit, Fair Value	[1]	99,822		87,068
Warrant [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Common stock warrants, Carrying Value		7,164		12,123
Net Carrying Value on Balance Sheet	[1]	$ 7,164		$ 12,123
[1]	The fair values of these instruments are considered Level 3 measurements in the fair value hierarchy.
[2]	Fair value approximates carrying value due to the floating rate interest which approximates a current market rate.

Commitments and Contingencies A

Commitments and Contingencies Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)claim	Dec. 31, 2014USD ($)claim	Oct. 25, 2011
Long-term Purchase Commitment [Line Items]
Earnout payment percentage of EBITDA			400.00%
Minimum EBITDA benchmark	$ 3,500,000
maximum earnout payment amount	4,500,000
Contingent consideration	$ 27,810,000	$ 9,131,000
Number of remaining claim to be resolved | claim		27
Remaining Filed Claims		$ 26,500,000
Estimated value of claims remaining to be settled		1,100,000
Claims settled | claim	0
Tesoros [Member]
Long-term Purchase Commitment [Line Items]
Deductible for indemnification obligation	$ 1,000,000
Indemnification obligation cap	15,000,000
Clear Air Act Violation [Member]
Long-term Purchase Commitment [Line Items]
Final decree low estimate	20,000,000
Final decree high estimate	25,000,000
Pending Litigation [Member]
Long-term Purchase Commitment [Line Items]
Claim amount for environmental losses	1,000,000
Tesoro Earnout Dispute [Member]
Long-term Purchase Commitment [Line Items]
Contingent consideration	$ 1,000,000	$ 0

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Amortization of Intangible Assets		$ 1,000	$ 900	$ 2,800	$ 1,800
Unrecognized compensation costs related to restricted stock awards		9,600		$ 9,600
Period of stock option compensation cost recognition				2 years 11 months 23 days
Restricted Stock [Member]
Class of Stock [Line Items]
Compensation cost		$ 1,000	$ 2,600	$ 4,000	$ 4,200
Shares of restricted stock granted (in shares)		28		214
Grants in the period, aggregate fair value		$ 511		$ 4,300
Employee Stock Option [Member]
Class of Stock [Line Items]
Options, issued in period (in shares)		15		167
Options, issued in period, weighted average exercise price		$ 19.69		$ 18.88
Grants in period, aggregate fair value		$ 115		$ 1,300
Subsequent Event [Member] | President, Chief Executive Officer, Chairman, Vice Chairman and Board of Directors [Member]
Class of Stock [Line Items]
Options issued (in shares)	1,050
Exercise price (in usd per share)	$ 21.44

Benefit Plans Benefit Plans Pos

Benefit Plans Benefit Plans Post Retirement Medical Plan Net Periodic Benefit Cost (Details) - Postretirement Medical Plan [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Components of net periodic benefit cost:
Service cost	$ 93	$ 278
Interest cost	53	159
Amortization of prior service cost	2	6
Net periodic benefit cost	$ 148	$ 443

Benefit Plans Benefit Plans P59

Benefit Plans Benefit Plans Post Retirement Medical Plan Additional Information (Details)	9 Months Ended
	Sep. 30, 2015age
Compensation and Retirement Disclosure [Abstract]
Post-retirement medical, maximum age of coverage	65
Post-retirement medical, minimum service requirement	5 years
Post-retirement medical, minimum age of coverage	55
Post-retirement medical, post 55, pre 2006 employee percentage of monthly insurance	20.00%
Post-retirement medical, post 55, post 2006 employee percentage of monthly insurance	100.00%
Post-retirement medical, post 2006 reduction in premium service requirement	10 years
Post-retirement medical, post 55 with post 2006 reduction in premium service requirement percentage of monthly insurance	50.00%

Basic and Diluted Loss Per Shar

Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net income (loss)		$ 14,740	$ (39,456)	$ 26,925	$ (78,701)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic And Diluted	[1]	228	0	217	0
Net Income (Loss) Available to Common Stockholders, Basic		$ 14,512	$ (39,456)	$ 26,708	$ (78,701)
Basic weighted-average common stock shares outstanding		37,390,000	33,137,000	37,304,000	31,311,000
Add dilutive effects of common stock equivalents	[2]	$ 10	$ 0	$ 27	$ 0
Diluted weighted-average common stock outstanding (in shares)		37,400,000	33,137,000	37,331,000	31,311,000
Income (loss) per common share, basic (USD per share)		$ 0.39	$ (1.19)	$ 0.72	$ (2.51)
Income (loss) per common share, diluted (USD per share)		$ 0.39	$ (1.19)	$ 0.72	$ (2.51)
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average number of shares issuable under the common stock warrants (in shares)		586,650		692,562	801,088
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)		587,000	609,000	303,000	523,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)		10,000		27,000
[1]	Participating securities include restricted stock that has been issued but is not yet vested.
[2]	Entities with a net loss are prohibited from including potential common shares in the computation of diluted per share amounts; therefore, we have utilized the basic shares outstanding to calculate both basic and diluted loss per share for the three and nine months ended September 30, 2014.

Income Taxes (Textual) (Detail)

Income Taxes (Textual) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Valuation allowance			$ 18,300
State tax expense (benefit)	$ (200)	$ (150)	$ (217)	$ (113)

Segment Information (Detail)

Segment Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Reporting segments | segment			3
Revenues	$ 495,503	$ 854,286	$ 1,622,873	$ 2,399,669
Cost of revenues	405,153	830,438	1,387,690	2,322,788
Operating expense, excluding depreciation, depletion and amortization expense	38,047	42,729	102,798	109,897
Lease operating expense	1,575	1,204	4,614	3,963
Depreciation, depletion and amortization	4,596	3,918	12,852	10,269
Impairment expense	9,639	0	9,639	0
Loss on sale of assets, net		624		624
General and administrative expense	9,939	8,115	31,878	18,782
Acquisition and integration expense	280	3,856	1,811	9,126
Operating income (loss)	26,274	(36,598)	71,591	(75,780)
Interest expense and financing costs, net	(4,387)	(7,076)	(15,769)	(13,980)
Loss on termination of financing agreements	0	0	(19,229)	0
Other income (expense), net	(45)	(164)	(199)	(304)
Change in value of contingent consideration	(1,023)	2,401	(2,732)	4,118
Change in value of contingent consideration	(4,255)	996	(18,679)	5,758
Equity earnings (losses) from Laramie Energy Company	(1,355)	835	(6,131)	1,374
Income (loss) before income taxes	15,209	(39,606)	8,852	(78,814)
Income tax benefit (expense)	(469)	150	18,073	113
Net income (loss)	14,740	(39,456)	26,925	(78,701)
Capital expenditures	5,984	4,047	15,857	9,956
Refining Distribution and Marketing [Member]
Revenues	403,165	736,284	1,352,724	2,118,023
Cost of revenues	330,702	725,876	1,169,287	2,078,038
Operating expense, excluding depreciation, depletion and amortization expense	28,568	35,884	77,637	91,013
Lease operating expense	0	0	0	0
Depreciation, depletion and amortization	2,565	2,125	7,723	5,746
Impairment expense	0		0
Loss on sale of assets, net		0		0
General and administrative expense	4,544	2,379	13,254	3,912
Acquisition and integration expense	186	98	186	4,126
Operating income (loss)	36,600	(30,078)	84,637	(64,812)
Capital expenditures	3,705	3,816	12,291	8,577
Retail Segment [Member]
Revenues	81,434	62,929	209,091	174,179
Cost of revenues	60,655	51,945	158,383	147,351
Operating expense, excluding depreciation, depletion and amortization expense	9,479	6,845	25,161	18,884
Lease operating expense	0	0	0	0
Depreciation, depletion and amortization	1,492	640	3,675	1,751
Impairment expense	0		0
Loss on sale of assets, net		0		0
General and administrative expense	953	1,065	2,738	1,716
Acquisition and integration expense	0	0	0	0
Operating income (loss)	8,855	2,434	19,134	4,477
Capital expenditures	213	49	715	149
Natural Gas and Oil Operations [Member]
Revenues	0	1,667	2,185	5,083
Cost of revenues	0	0	0	0
Operating expense, excluding depreciation, depletion and amortization expense	0	0	0	0
Lease operating expense	1,575	1,204	4,614	3,963
Depreciation, depletion and amortization	10	571	33	1,096
Impairment expense	0		0
Loss on sale of assets, net		624		624
General and administrative expense	0	320	400	564
Acquisition and integration expense	0	0	0	0
Operating income (loss)	(1,585)	(1,052)	(2,862)	(1,164)
Capital expenditures	0	4	0	312
Commodity Marketing And Logistics [Member]
Revenues	10,904	53,406	58,873	102,384
Cost of revenues	13,796	52,617	60,020	97,399
Operating expense, excluding depreciation, depletion and amortization expense	0	0	0	0
Lease operating expense	0	0	0	0
Depreciation, depletion and amortization	231	499	689	1,513
Impairment expense	9,639		9,639
Loss on sale of assets, net		0		0
General and administrative expense	701	1,171	4,064	3,084
Acquisition and integration expense	0	0	0	0
Operating income (loss)	(13,463)	(881)	(15,539)	388
Capital expenditures	10	0	10	300
Corporate and Other [Member]
Revenues	0	0	0	0
Cost of revenues	0	0	0	0
Operating expense, excluding depreciation, depletion and amortization expense	0	0	0	0
Lease operating expense	0	0	0	0
Depreciation, depletion and amortization	298	83	732	163
Impairment expense	0		0
Loss on sale of assets, net		0		0
General and administrative expense	3,741	3,180	11,422	9,506
Acquisition and integration expense	94	3,758	1,625	5,000
Operating income (loss)	(4,133)	(7,021)	(13,779)	(14,669)
Capital expenditures	2,056	178	2,841	618
Intersegment Eliminations [Member]
Revenues	(55,073)	(38,083)	(156,695)	(109,170)
Intersegment Eliminations [Member] | Refining Distribution and Marketing [Member]
Revenues	(55,073)	(38,083)	(138,585)	(109,170)
Intersegment Eliminations [Member] | Retail Segment [Member]
Revenues	0	0	0	0
Intersegment Eliminations [Member] | Natural Gas and Oil Operations [Member]
Revenues	0	0	0	0
Intersegment Eliminations [Member] | Commodity Marketing And Logistics [Member]
Revenues	0	0	(18,110)	0
Intersegment Eliminations [Member] | Corporate and Other [Member]
Revenues	0	0	0	0
Operating Segments [Member]
Revenues	550,576	892,369	1,779,568	2,508,839
Operating Segments [Member] | Refining Distribution and Marketing [Member]
Revenues	458,238	774,367	1,491,309	2,227,193
Operating Segments [Member] | Retail Segment [Member]
Revenues	81,434	62,929	209,091	174,179
Operating Segments [Member] | Natural Gas and Oil Operations [Member]
Revenues	0	1,667	2,185	5,083
Operating Segments [Member] | Commodity Marketing And Logistics [Member]
Revenues	10,904	53,406	76,983	102,384
Operating Segments [Member] | Corporate and Other [Member]
Revenues	$ 0	$ 0	$ 0	$ 0

Related Party Transaction (Text

Related Party Transaction (Textual) (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)stockholdershares	Sep. 30, 2015USD ($)	Sep. 17, 2013
Number of stockholders and related affiliates | stockholder	1
Percentage ownership of Par common stock			10.00%
Travel and out of pocket expenses		$ 50
Investor [Member]
Initial term of service agreements		1 year
Renewal term for service agreements		1 year
Termination period between extension date		60 days
Warrant [Member]
Warrants exercised | shares	404,013
Conversion of warrants, amount	$ 7,700

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Sep. 30, 2015USD ($)
Subsequent Events [Abstract]
Accrued post-retirement medical liability	$ 6