Vivakor and Olenox Execute LOI Amendment for Approximately $36 Million Oklahoma Midstream Asset Sale
Rhea-AI Summary
Vivakor (Nasdaq: VIVK) amended its Letter of Intent with Olenox (Nasdaq: OLOX) for the proposed sale of CPE Gathering MidCon, which operates the Omega midstream system in Oklahoma. The amendment sets a target closing date of July 31, 2026.
The proposed transaction value is approximately $36 million, based on expected annual EBITDA of about $4.56 million from take-or-pay contracts. Both parties continue due diligence, third-party approvals and definitive documentation while Vivakor pursues its asset optimization and energy infrastructure growth strategy.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Proposed sale of CPE Gathering valued at approximately $36 million
- CPE Gathering expected annual EBITDA of about $4.56 million
- Transaction supports Vivakor strategy to optimize its asset portfolio
- Omega system supported by take-or-pay contractual arrangements
Negative
- Deal remains at LOI stage with conditions and approvals outstanding
- Vivakor would sell an asset expected to generate recurring EBITDA
Market reaction: VIVK -5.16% on Oklahoma midstream asset sale amendment
On the day this news was published, VIVK declined 5.16%, reflecting a notable negative market reaction. Argus tracked a peak move of +8.6% during that session. Argus tracked a trough of -13.9% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $933K from the company's valuation, bringing the market cap to $17.14M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 30 | Dividend timing update | Positive | -1.8% | Reset payment date for previously declared special Adapti share dividend. |
| Jun 25 | Crude contract win | Positive | -0.2% | New Cushing crude oil deal lifting annualized contracted revenue to about $420M. |
| Jun 18 | Crude contract win | Positive | -10.9% | Permian crude transaction raising annualized contracted revenue opportunities above $323M. |
| Jun 17 | Asset network highlight | Positive | -3.6% | Showcased strategic value of Southwestern U.S. midstream infrastructure network. |
| Jun 17 | Crude contract win | Positive | -3.6% | One-year Bakken crude deal expected to add about $115M annualized revenue. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive commercial and corporate updates have typically been followed by negative one-day price reactions for Vivakor.
Key Terms
letter of intent financial
take-or-pay financial
ebitda financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Parties continue advancing due diligence, third-party approvals and definitive transaction documentation while targeting a July 31, 2026 closing
Dallas, TX, July 02, 2026 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse, and remediation services, today announced that it has executed an amendment to its previously announced Letter of Intent with Olenox Industries, Inc. (Nasdaq: OLOX) in connection with the proposed sale of the Company's CPE Gathering MidCon, LLC business. The amendment reflects the parties' continued progress toward meeting customary closing conditions and establishes a target closing date of July 31, 2026.
Since execution of the original Letter of Intent, the parties have continued to advance due diligence, obtain required third-party consents, negotiate definitive transaction documentation and satisfy other customary closing requirements. To provide adequate time to complete these remaining items, the parties have agreed to target a July 31, 2026 closing and continue working toward execution of definitive transaction agreements and satisfaction of all remaining closing conditions.
CPE Gathering operates the Omega system, an on-basin midstream platform that provides crude oil gathering, transportation, terminaling and pipeline connectivity throughout the STACK region of Oklahoma. Omega is positioned to generate stable, fee-based cash flows, reduce hauling and terminaling costs for producers, and provide a scalable platform to improve operational uptime and lower operating expenses. The transportation assets also offer producers flexible, cost-competitive gathering and transportation services to a network of storage, blending facilities and pipeline injection points.
The approximately
"We remain excited about the strategic transaction with Olenox and the value we believe it will create for both companies," said James Ballengee, Chief Executive Officer of Vivakor. "Both organizations continue to make meaningful progress toward closing the transaction. The additional time allows the parties to complete customary diligence, documentation and third-party approvals while maintaining our focus on executing our broader growth strategy. As we continue building momentum across the business, we believe this transaction represents another meaningful step in enhancing shareholder value and positioning Vivakor for long-term growth."
The proposed transaction represents another step in Vivakor's strategy of optimizing its asset portfolio while expanding its integrated energy infrastructure platform. The Company remains focused on increasing recurring commercial activity across its transportation, storage and supply & trading businesses while pursuing strategic transactions designed to enhance shareholder value and support disciplined, long-term growth.
About Vivakor, Inc.
Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil, storage, transportation, reuse, and remediation services under long-term contracts. Once operational, Vivakor's interest in oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.
For more information, please visit our website: http://vivakor.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.
These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
Investor Contact:
P:469-480-7175
info@vivakor.com
