Vivakor Sells Midstream Assets to Olenox Industries for $36 Million

Dallas, TX, February 3, 2026

Vivakor, Inc. has signed a non-binding Letter of Intent to sell its midstream business and transportation assets to Olenox Industries for $36 million. The sale includes Vivakor’s Omega pipeline system, integral to the Oklahoma STACK’s crude oil operations. The strategic divestiture allows Vivakor to refocus on its core operations while Olenox aims to enhance energy asset optimization across Texas, Kansas, and Oklahoma. The proposed transaction signifies a strong shift in assets, with plans to close before March 31, 2026, pending customary conditions.

Dallas, TX – In a significant move, Vivakor, Inc. (OTCPINK: VIVK) has entered into a non-binding Letter of Intent to sell its midstream business and transportation assets of CPE Gathering MidCon, LLC to Olenox Industries, Inc. (NASDAQ: OLOX) for approximately $36 million. This transaction involves Vivakor’s Omega pipeline system, which is an integrated crude oil gathering, transportation, terminaling, and pipeline connection platform that plays a crucial role in the Oklahoma STACK play. The financial structure of this agreement includes a combination of cash, a promissory note, and common and preferred stock, supported by $4.56 million in annual EBITDA under a take-or-pay guarantee from Vivakor. Both companies are targeting a closing date on or before March 31, 2026, contingent upon customary closing conditions.

This divestiture is not just about numbers; it presents a strategic opportunity for Vivakor to recalibrate its focus toward enhancing its balance sheet, enabling the company to concentrate on its core operations in the Permian Basin, crude oil supply and trading, and remediation processing centers. James Ballengee, Chairman and CEO of Vivakor, has noted that this transaction is part of a broader strategy to strengthen the company’s financial footing and align its efforts with sustainable energy initiatives.

Olenox Industries, known for its multifaceted operations across three key sectors—Oil and Gas, Energy Services, and Energy Technologies—aims to leverage the Omega system to optimize underutilized oil and gas assets across Texas, Kansas, and Oklahoma. These efforts align with a broader trend of innovative practices and private ventures that boost local economies and demonstrate how streamlined operations in the energy sector can lead to broader economic growth.

### Unpacking the Omega Pipeline’s Value

The Omega system serves an essential role in the logistics of crude oil production in the Oklahoma STACK region, delivering comprehensive services such as crude gathering, transportation, terminaling, and pipeline connectivity. By minimizing hauling and terminaling costs for producers, the system is designed to generate steady, fee-based cash flows. This capability not only enhances Vivakor’s operational efficiency but also supports overall economic involvement in the energy landscape.

### The Economic Impact on Local Communities

Divestitures like Vivakor’s can serve as key indicators of a thriving local economy. By focusing on core competencies and effective asset management, companies can create more targeted and sustainable practices that ultimately lead to job creation and fiscal growth. When firms like Vivakor and Olenox Industries adapt and innovate, the ripple effect can significantly benefit local Dallas communities and enhance the state’s reputation as a hub for entrepreneurial endeavors.

### Future Prospects for Vivakor and Olenox

With the planned divestiture, Vivakor is setting the stage for an ambitious future centered on refining its operations in the booming Permian Basin. In focusing on crude oil supply and trading, as well as enhancing its remediation processing capabilities, Vivakor is poised to leverage its strengths in sustainable energy transportation and storage. Meanwhile, Olenox Industries stands to benefit from this acquisition by expanding its operational footprint and optimizing energy assets in the region, potentially leading to further investments and growth opportunities.

### Conclusion

In summary, the proposed sale of Vivakor’s midstream business to Olenox Industries for $36 million illustrates a proactive approach to restructuring that emphasizes financial strength, innovation, and strategic focus. This transaction not only promises to bolster Vivakor’s core business operations but also affirms the vitality of the energy sector in driving forward Dallas’s economic landscape. As local entrepreneurs continue to adapt and develop in a largely unregulated vacuum, such transactions could signal a brighter economic future for the entire region.

Encouraging support for local companies and remaining engaged with initiatives that drive Dallas’s economy can help reinforce the entrepreneurial spirit that fuels innovation and success.