EXCLUSIVE: Olenox Looks To Acquire Vivakor's Midstream Assets

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Olenox Industries Inc. (NASDAQ:OLOX) inked a non-binding Letter of Intent to get the midstream concern and proscription assets of CPE Gathering MidCon, LLC from Vivakor, Inc. (OTC:VIVK) for astir $36 million.

Olenox Industries is simply a vertically integrated vigor institution operating crossed 3 synergistic divisions – Oil and Gas, Energy Services, and Energy Technologies.

The institution acquires and optimizes underdeveloped lipid and state assets successful Texas, Kansas, and Oklahoma portion supporting tract operations with specialized good services and proprietary enhanced-recovery technologies.

The institution volition wage the magnitude successful a operation of cash, promissory notes, common, and preferred stock.

The woody magnitude is based connected $4.56 cardinal successful yearly EBITDA, pursuant to a take-or-pay warrant of Vivakor.

Notably, CPE Gathering operates the Omega system, which is an on-basin midstream level that offers crude gathering, transportation, terminaling, and pipeline connectivity successful the STACK portion of Oklahoma.

The woody is expected to adjacent connected oregon earlier March 31, 2026, taxable to customary closing conditions.

Olenox said it is pursuing an acquire-and-integrate strategy to fortify its halfway brands and physique a unified energy, technology, and infrastructure platform.

The acquisition is expected to enactment this strategy by expanding Olenox's serviceable market, boosting predictable, fee-based gross done integrated gathering and terminaling, and creating operational synergies by aligning midstream logistics with tract services to trim per-well costs and heighten uptime.

Michael McLaren, Chief Executive Officer of Olenox added, "The projected acquisition of Vivakor's Oklahoma midstream concern would grow our beingness successful the STACK portion positioning these assets for continued improvement nether an integrated operating model."

Price Action: OLOX shares are down 1.38% astatine $1.430 premarket astatine the past cheque connected Thursday.

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This nonfiction EXCLUSIVE: Olenox Looks To Acquire Vivakor's Midstream Assets primitively appeared connected Benzinga.com

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