The Vessel Group Completes Allegro Horizon Upgrade at PAR Pacific Holdings

USA - English

• USA - English

HOUSTON, Oct. 29, 2018 /PRNewswire-PRWeb/ -- The Vessel Group announces that their client, Par Pacific Holdings Inc., one of the largest mid-tier crude and refined products companies in the Americas, has successfully upgraded to Allegro Horizon. The Vessel Group serves functions as Par Pacific's advisory and software implementation firm.

The upgrade from Allegro 8, Par Pacific's prior version of Commodity Trading and Risk Management (CTRM) software, provides instant gains on performance, doubling and tripling the speed of valuation, settlement, and other key processes. Horizon's "designed-to-scale" and cloud capabilities ensure that Par Pacific can adapt to future business opportunities and take advantage of cost-saving technology options in the future. The Horizon upgrade also guarantees that Par Pacific instantly receives the latest Allegro updates and enhancements.

As one of the largest mid-tier crude refined products companies in the Americas, Par Pacific owns, manages, and maintains interests in energy and infrastructure businesses. The company identifies, acquires and operates one of the largest energy infrastructure networks in Hawaii with a 94,000-bpd refinery, a logistics network supplying the major islands in the state, and 90 retail locations. Par Pacific also owns a refinery and associated logistics network in a niche market in Wyoming. Additionally, Par Pacific owns 42.2% of Laramie Energy, LLC., which has natural gas operations and assets concentrated in the Piceance Basin in Western Colorado.

With the new benefits of Horizon in place, Par Pacific will move one more step forward in their CTRM competency and build on the competitive advantages established in Phase I and II of their Allegro implementation.

Dennis Hatchett, CEO, The Vessel Group
"The theme of this multi-phase partnership is undoubtably 'collaboration'. Par's team has committed to putting in the time and effort working with us to get the most value out of their technology. On our end, we've been Par's advocate, via hands-on support, vendor discussions, and our best-in-the-business training."

About the Vessel Group
The Vessel Group is a Houston-based energy consulting and talent sourcing firm, with deep industry experience. Leveraging their relationship-based model, The Vessel Group provides leadership and guidance to energy companies as they make crucial business decisions connected to people, process and technology. Multi-year implementations and their extensive costs require companies to seek technology solution firms with comprehensive industry knowledge, resourcefulness and experience – learn more about our company's dedication to those traits at https://www.thevesselgrp.com.

SOURCE Vessel Group