Vivakor to Sell Oklahoma Midstream Business to Olenox Industries for $36 Million

Reuters02-02

Vivakor to Sell Oklahoma Midstream Business to Olenox Industries for $36 Million

Vivakor Inc. has executed a non-binding Letter of Intent to sell its midstream business and transportation assets of CPE Gathering MidCon, LLC, including the Omega pipeline system, to Olenox Industries, Inc. for approximately $36 million. The consideration 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. The transaction is expected to strengthen Vivakor's balance sheet and allow the company to focus on its Permian Basin, crude oil supply and trading, and remediation processing center operations. The companies are working towards definitive agreements, with closing targeted on or before March 31, 2026, subject to customary closing conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vivakor Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9646956-en) on February 02, 2026, and is solely responsible for the information contained therein.

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