Vivakor Stock Price, News & Analysis

Vivakor, Inc. (NASDAQ: VIVK) reported a remarkable 1,118% increase in revenue to $11.8 million for Q3 2022 compared to the same period last year, driven by oil and natural gas liquid sales from acquisitions. The company's gross profit rose to $1.2 million, with a gross margin of 10.3%. Additionally, the net loss decreased 46% to $1.6 million. Following the quarter, prominent oil industry expert James Ballengee was appointed as CEO. Vivakor's pro-forma revenue for the nine months ended September 30, 2022 is $47.7 million, reflecting combined results from acquisitions.

Vivakor Appoints New CEO

Vivakor, Inc. (NASDAQ:VIVK) has announced the appointment of oil industry veteran James Ballengee as Chief Executive Officer and Chairman of the Board. With over 20 years in the energy sector, Ballengee's leadership is expected to drive growth following Vivakor's recent acquisition of Silver Fuels Delhi, LLC and White Claw Colorado City, LLC for $37.4 million, which generated $33 million in revenue in 2021. Under his guidance, Vivakor aims to enhance its focus on environmentally friendly technologies while expanding its midstream oil and gas capabilities.

Vivakor announced successful acquisitions of Silver Fuels Delhi and White Claw Colorado City for $37.4 million, strengthening its position in the clean energy and oil remediation sectors. The deal includes long-term contracts that guarantee minimum gross margins and are expected to generate significant annual revenue and positive EBITDA. In 2021, SFD and WCCC generated $33 million in revenue. These acquisitions position Vivakor for growth and enhance its operational capabilities, particularly in oil recovery and environmental solutions.

Vivakor, Inc. (NASDAQ:VIVK) announced a definitive agreement to acquire Silver Fuels Delhi, LLC and White Claw Colorado City, LLC for approximately $37.4 million. The acquisitions, expected to close within 30 days, will enhance Vivakor's operations in crude oil gathering, storage, and transportation, contributing an anticipated revenue boost from SF Delhi's $33 million revenue in 2021. With long-term contracts in place, the deal aims to strengthen Vivakor's infrastructure and market presence in the energy sector, leveraging its patented RPC machine technology for oil remediation.

Vivakor, Inc. (Nasdaq:VIVK) announced its CEO, Matt Nicosia, will present at the LD Micro Invitational XII Investor Conference on June 7, 2022, at 2:30 PM PT (5:30 PM ET) in Westlake Village, California. Nicosia will discuss the company’s remediation processing centers and ongoing projects in Utah and Kuwait. He will also be available for one-on-one meetings. For conference details or to schedule a meeting, contact Mary Manzella at mary@ldmicro.com. Visit www.ldmicro.com for more information.

Vivakor, Inc. (NASDAQ:VIVK) is set to present at the Rocky Mountain Microcap Conference IX on May 25, 2022, at 3:24 PM PT/6:24 PM ET. CEO Matt Nicosia will provide insights into the company's clean energy technologies and environmental solutions. Vivakor focuses on oil remediation and the recovery of hydrocarbons, leveraging patented Remediation Processing Centers that can clean contaminated soils with over 5% oil content. The company operates in Eastern Utah, Kuwait, and Houston, aiming to deliver solid returns to its shareholders.

Vivakor, Inc. (NASDAQ: VIVK) reports a total of $22.6 million in Special Purpose Vehicle (SPV) funding, successfully financing three Remediation Processing Centers (RPCs) without diluting public shareholder equity. The company highlighted its innovative equipment financing structure at the 2022 Mick Law Energy & Global Alts Symposium, aiming to foster new relationships with over 70 financial professionals. CEO Matt Nicosia emphasized their strategy to avoid shareholder dilution while expanding RPC operations focused on environmentally responsible oil remediation.

Vivakor, Inc. (NASDAQ:VIVK) announced its participation in the virtual Sidoti & Company Micro Cap Conference on May 11-12, 2022. CEO Matt Nicosia will present an overview of the company, including a significant $250 million asphalt contract from its Utah facility. The presentation is scheduled for 3:15 p.m. ET on May 11 and will be webcast live, with replays available. Vivakor focuses on environmentally friendly oil remediation technologies, aiming to recover hydrocarbons from contaminated soils, particularly in Eastern Utah, Kuwait, and Houston.

Vivakor, Inc. (NASDAQ: VIVK) has signed a Master Work Agreement with JVS Holdings Inc. (EMS) for waste processing in Houston, Texas. This partnership aims to deploy Vivakor's Remediation Processing Center (RPC) technology, targeting the cleanup of oil sludge and other waste from refineries. The first RPC is fully funded and expected to be operational by June, capable of processing 100 barrels per hour and reclaiming 1,000 barrels of recycled oil daily. This initiative addresses the significant tank bottom sludge market, estimated at over 9 billion tons.