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$VIVK Vivakor agrees to sell Oklahoma midstream assets for $36 million

Feb 02, 2026
Vivakor Inc. VIVK has signed a non-binding letter of intent to sell its midstream business and transportation assets to Olenox Industries Inc. OLOX for approximately $36 million, according to a company statement.

The transaction involves the sale of CPE Gathering MidCon LLC, which operates the Omega pipeline system in Oklahoma's STACK play. The Omega system provides crude oil gathering, transportation, terminaling and pipeline connection services in the region.

The $36 million transaction will be paid through a combination of cash, promissory note, common stock and preferred stock. The valuation is based on $4.56 million in annual EBITDA under a take-or-pay guarantee from Vivakor.

"This transaction will enable us to further strengthen our balance sheet and focus on our Permian Basin, Crude Oil Supply and Trading and Remediation Processing Centers businesses," said James Ballengee, Vivakor's chairman and chief executive officer.

The Omega system generates fee-based cash flows and provides crude gathering, transportation and terminaling services to producers in the STACK region. The assets include storage and blending facilities and pipeline injection points.

Both companies are working toward definitive agreements with a targeted closing date on or before March 31, 2026, subject to customary closing conditions.

Vivakor operates energy transportation, storage and remediation services with one of the largest oilfield trucking fleets in the continental United States. Olenox Industries is a vertically integrated energy company with operations in oil and gas, energy services and energy technologies across Texas, Kansas and Oklahoma.

Mon, 02 Feb 2026 08:33:46 -0500

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