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NetworkNewsBreaks – Olenox Industries Inc. (NASDAQ: OLOX) Signs LOI to Acquire Vivakor’s Oklahoma Midstream Assets
Olenox Industries Inc. (NASDAQ: OLOX) on Thursday announced its execution of a non-binding letter of intent to acquire the midstream business and transportation assets of CPE Gathering MidCon LLC from Vivakor Inc. (OTC: VIVK), including the Omega pipeline system serving the Oklahoma STACK play. The proposed transaction is valued at approximately $36 million and is structured as a combination of cash, promissory note, and common and preferred stock, based on $4.56 million in annual EBITDA supported by a take-or-pay guarantee from Vivakor. According to the company, CPE Gathering operates an on-basin crude-oil gathering, transportation, terminaling, and pipeline connectivity platform in Oklahoma, and the acquisition would align with Olenox’s acquire-and-integrate strategy by expanding its midstream footprint and fee-based infrastructure. The parties are working toward definitive agreements with a targeted closing on or before March 31, 2026, subject to customary closing conditions.
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at http://nnw.fm/OLOX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Olenox Industries Inc. (NASDAQ: OLOX) on Thursday announced its execution of a non-binding letter of intent to acquire the midstream business and transportation assets of CPE Gathering MidCon LLC from Vivakor Inc. (OTC: VIVK), including the Omega pipeline system serving the Oklahoma STACK play. The proposed transaction is valued at approximately $36 million and is structured as a combination of cash, promissory note, and common and preferred stock, based on $4.56 million in annual EBITDA supported by a take-or-pay guarantee from Vivakor. According to the company, CPE Gathering operates an on-basin crude-oil gathering, transportation, terminaling, and pipeline connectivity platform in Oklahoma, and the acquisition would align with Olenox’s acquire-and-integrate strategy by expanding its midstream footprint and fee-based infrastructure. The parties are working toward definitive agreements with a targeted closing on or before March 31, 2026, subject to customary closing conditions.
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at http://nnw.fm/OLOX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer