Vivakor Signs Letter of Intent to Sell its Midstream Business in Oklahoma STACK Play for $36 Million to Olenox Industries
Olenox Industries Inc. (OLOX)
Company Research
Source: GlobeNewswire
Dallas, TX, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCPINK: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse, and remediation service, today announced that it has executed a non-binding Letter of Intent to sell its midstream business and transportation assets of CPE Gathering MidCon, LLC (“CPE Gathering”) to Olenox Industries, Inc. (NASDAQ: OLOX) for approximately $36 million. Vivakor is the owner and operator of the Omega pipeline system, an integrated crude-oil gathering, transportation, terminaling and pipeline connection platform serving the Oklahoma STACK play. 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. Vivakor Chairman and Chief Executive Officer James Ballengee commented, “This transaction will enable us to further strengthen
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- Olenox Industries Announces Settlement Agreement with Cedar Advance LLCGlobeNewswire
- Olenox Industries Appoints Erik Blum and Adam Falkoff to Board of DirectorsGlobeNewswire
- Vivakor Signs Letter of Intent to Sell its Midstream Business in Oklahoma STACK Play for $36 Million to Olenox Industries [Yahoo! Finance]Yahoo! Finance
- EXCLUSIVE: Olenox Looks To Acquire Vivakor's Midstream Assets [Yahoo! Finance]Yahoo! Finance
- Olenox Industries Signs Letter of Intent to Acquire Vivakor’s Midstream Business in Oklahoma STACK PlayGlobeNewswire