HOUSTON, Oct 20 (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc (PARR.N) for $310 million.
"This acquisition expands our fully integrated downstream network in the western United States," said Par Pacific Chief Executive Officer William Pate.
Since 2013, Houston-based Par Pacific has purchased refineries in Hawaii, Wyoming and Tacoma, Washington.
Par Pacific shares jumped 8.7% to $21.62 on Thursday, their highest level in two and a half years.
Under the deal, Par Pacific will continue supplying fuel to Exxon and Mobil-branded stations in the region.