Olenox Industries Amends Letter of Intent to Acquire Vivakor's Midstream Business in Oklahoma Stack Play

Rhea-AI Summary

Olenox Industries (NASDAQ:OLOX) amended its Letter of Intent to acquire CPE Gathering MidCon, LLC, the operator of the Omega pipeline system in the Oklahoma STACK play, moving the targeted close to April 30, 2026 (no later than May 15, 2026).

The transaction is valued at approximately $36 million and will be paid with cash, a promissory note, common and preferred stock, and is supported by a $4.56 million annual EBITDA figure under a take-or-pay guarantee. Olenox says the deal would expand fee-based revenue, reduce hauling and terminaling costs for producers, and create operational synergies with its field services.

Positive

• $36 million transaction value
• $4.56 million annual EBITDA under take-or-pay guarantee
• Expands fee-based, predictable revenue via integrated gathering and terminaling

Negative

• Targeted closing extended to April 30, 2026 (no later than May 15, 2026) increases near-term timing uncertainty
• Consideration includes common and preferred stock, creating potential shareholder dilution
• Partial payment via promissory note introduces counterparty/credit risk

News Market Reaction – OLOX

+1.84%

5 alerts

+1.84% Session close to close

+4.8% Peak Tracked

-15.0% Trough Tracked

$3.40M Market Cap

0.5x Rel. Volume

In the Apr 10 session, OLOX gained 1.84%, reflecting a mild positive market reaction. Argus tracked a peak move of +4.8% during that session. Argus tracked a trough of -15.0% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement updates the expected closing timeline for Olenox’s planned acquisition of Vivakor’...

Analysis

This announcement updates the expected closing timeline for Olenox’s planned acquisition of Vivakor’s CPE Gathering midstream assets, keeping the approximate $36 million valuation and $4.56 million EBITDA underpinning intact while shifting the target close to late April–mid-May 2026. In context of recent preferred stock financing and a late Form 10-K notice tied to complex consolidations, investors may watch audit completion, definitive agreements, and how the Omega system ultimately integrates with Olenox’s field services and cost structure.

Key Figures

Transaction value: $36 million Annual EBITDA: $4.56 million Targeted closing date: April 30, 2026 +5 more

8 metrics

Transaction value $36 million Consideration for acquiring CPE Gathering/Omega midstream assets

Annual EBITDA $4.56 million EBITDA underpinning deal, via Vivakor take-or-pay guarantee

Targeted closing date April 30, 2026 Revised projected closing date for the acquisition

Outside closing date May 15, 2026 Latest possible closing date specified in amended LOI

Price change -8.86% Move on the day of the amended acquisition timing announcement

52-week range $0.5414–$2.19 Pre-news trading range for OLOX shares

Series C proceeds $718,300 Net cash from March 12, 2026 Series C preferred issuance

Series C stated value $900,000 Aggregate stated value of 900 Series C preferred shares

Previous Acquisition Reports

1 past event · Latest: Jan 29 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 29	Acquisition LOI	Positive	-7.6%	Announced LOI to buy Vivakor’s CPE Gathering Omega midstream system.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

For acquisition-related news, OLOX previously showed a negative price reaction of -7.59% despite an ostensibly strategic deal, suggesting a pattern of shareholder skepticism around this transaction theme.

Recent Company History

Over recent months, Olenox has reported multiple growth and corporate actions: a 2025 Annual Meeting where shareholders approved large equity authorizations and a potential reverse split, operational updates on drilling programs and production stabilization, and new contracts for its Giant Containers subsidiary. On Jan 29, 2026, the company signed a Letter of Intent to acquire Vivakor’s CPE Gathering midstream assets for $36 million, based on $4.56 million in EBITDA. Today’s amendment mainly shifts the targeted closing window while keeping core deal economics consistent.

Key Terms

ebitda, take-or-pay, promissory note, preferred stock, +3 more

7 terms

ebitda financial

"The transaction, valued at approximately $36 million, will be paid... based on $4.56 million in annual EBITDA"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

take-or-pay financial

"based on $4.56 million in annual EBITDA, pursuant to a take-or-pay guarantee of Vivakor."

A take-or-pay clause is a contract term that requires a buyer to either take delivery of an agreed amount of a product or pay a penalty if they do not. For investors, it matters because it creates predictable revenue for the seller—like a subscription fee that must be paid whether fully used or not—reducing sales volatility but also introducing counterparty risk if the buyer’s ability to pay is uncertain.

promissory note financial

"will be paid in a combination of cash, promissory note, common and preferred stock"

A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.

preferred stock financial

"will be paid in a combination of cash, promissory note, common and preferred stock"

Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.

midstream technical

"to acquire the midstream business and transportation assets of its wholly owned subsidiary"

Midstream refers to the phase in the energy supply chain that involves the transportation, storage, and processing of oil and natural gas after extraction from the ground, but before they are refined into usable products. For investors, midstream companies are important because they often generate steady income through fees for moving and storing energy resources, making them a key link between resource producers and consumers.

terminaling technical

"provides crude gathering, transportation, terminaling and pipeline connectivity in the STACK region"

Terminaling is the activity of receiving, storing, and dispatching physical goods—often oil, fuel, chemicals or other bulk commodities—at a dedicated storage facility called a terminal. For investors it signals where products are held, the costs and capacity constraints tied to inventory and shipment, and potential revenue or disruption risk; think of a terminal like a busy garage where goods are parked, refueled and sent on their next trip, and delays or full lots can affect company cash flow and margins.

take-or-pay guarantee financial

"annual EBITDA, pursuant to a take-or-pay guarantee of Vivakor."

A take-or-pay guarantee is a contract clause where a buyer promises to either take the agreed quantity of goods or services or pay a predefined amount even if they don’t take delivery. For investors, it creates more predictable revenue for the seller—like a reserved seat that’s paid for whether used or not—while also signaling potential demand risk or collectability issues if buyers struggle to pay.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Time of Targeted Closing Amended to April 30, 2026

CONROE, TX / ACCESS Newswire / April 10, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox Industries" or the "Company"), today announced that it has amended its Letter of Intent with Vivakor, Inc. (OTC:VIVKD), to acquire the midstream business and transportation assets of its wholly owned subsidiary CPE Gathering MidCon, LLC ("CPE Gathering"), owner and operator of the Omega pipeline system, an integrated crude-oil gathering, transportation, terminaling and pipeline connection platform serving the Oklahoma STACK play.

As mentioned in the Company's prior release of January 29, 2026, the parties targeted a closing date on or before March 31, 2026. In furtherance of continual diligence and in light of the respective companies audit requirements, the parties have revised the projected closing date to April 30, 2026, but in no event later than May 15, 2026.

CPE Gathering operates the Omega system, an on-basin midstream platform that provides crude gathering, transportation, terminaling and pipeline connectivity in the STACK region of Oklahoma. Omega is positioned to generate fee-based cash flows, reduce hauling and terminaling costs for producers, and provide a scalable on-ramp for technology and services that improve uptime and lower operating expenses. The transportation assets also offer producers flexible, cost-competitive gathering and transport to a network of storage and blending facilities and pipeline injection points.

The transaction, valued at approximately $36 million, will be paid in a combination of cash, promissory note, common and preferred stock, and is based on $4.56 million in annual EBITDA, pursuant to a take-or-pay guarantee of Vivakor.

Olenox is executing an acquire-and-integrate strategy that elevates core brands to build an integrated energy, technology and infrastructure platform. Acquiring CPE Gathering from Vivakor would complement that strategy by expanding Olenox's addressable market for services, increasing fee-based, predictable revenue through integrated gathering and terminaling (thereby reducing exposure to commodity volatility), and generating operational synergies by aligning midstream logistics with Olenox's field services to lower per-well costs and improve uptime.

About Olenox Industries Inc.

Olenox Industries, Inc. is a vertically integrated energy company operating across three synergistic divisions-Oil and Gas, Energy Services, and Energy Technologies. The company acquires and optimizes underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma while supporting field operations with specialized well services and proprietary enhanced-recovery technologies. Olenox's integrated model drives efficiency, increases production and unlocks value across the energy lifecycle, positioning the company to capture opportunities often overlooked by traditional operators.

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully complete due diligence for the acquisition of Vivakor, Inc., the Company's ability to successfully negotiate definitive documents for the acquisition of Vivakor, Inc., the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Investors: investors@olenox.com

SOURCE: Olenox Industries Inc.

View the original press release on ACCESS Newswire

FAQ

What did Olenox Industries announce about acquiring Vivakor's midstream assets (OLOX) on April 10, 2026?

Olenox amended its Letter of Intent to acquire CPE Gathering and moved the target close to April 30, 2026. According to Olenox Industries, the transaction values the assets at approximately $36 million and includes mixed cash, note, and stock consideration.

How is the $36 million purchase of CPE Gathering being financed by Olenox (OLOX)?

Olenox will pay with a combination of cash, a promissory note, and common and preferred stock. According to Olenox Industries, the mix is intended to allocate purchase consideration across cash and securities.

What EBITDA supports Olenox's valuation of Vivakor's Omega system (OLOX)?

The deal is based on an annual EBITDA figure of $4.56 million. According to Olenox Industries, that EBITDA is supported by a take-or-pay guarantee from Vivakor.

How will acquiring the Omega pipeline system affect Olenox's revenue profile (OLOX)?

The acquisition is expected to increase fee-based, predictable revenue through gathering and terminaling services. According to Olenox Industries, this reduces exposure to commodity volatility and complements its field services.

Does the amended timeline change the latest possible closing date for the OLOX–Vivakor deal?

Yes, the parties moved the targeted closing to April 30, 2026 and agreed it will occur no later than May 15, 2026. According to Olenox Industries, this allows additional diligence and audit alignment.