Business
Olenox Industries Signs Letter of Intent to Acquire Vivakor’s Midstream Business in Oklahoma STACK Play
CONROE, Texas, Jan. 29, 2026 (GLOBE NEWSWIRE) -- via IBN -- Olenox Industries Inc. (NASDAQ: OLOX) ("Olenox Industries" or the "Company"), today announced that it has executed a non-binding Letter of Intent to acquire the midstream business and transportation assets of CPE Gathering MidCon, LLC ("CPE Gathering") from Vivakor, Inc. (OTC: VIVK), owner and operator of the Omega pipeline system, an integrated crude-oil gathering, transportation, terminaling and pipeline connection platform serving th
About this update from Vivakor, Inc.
[{"type":"image","alt":"Olenox Industries Inc.","displaySize":"","headline":null,"caption":"Olenox Industries Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":117,"url":"https://media.zenfs.com/en/globenewswire.com/3fff4e45bfb60dea50e8ab9e4fdfed74"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/L1wS9HkJpVyguCyM2QjgNg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE2NDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/3fff4e45bfb60dea50e8ab9e4fdfed74","width":300,"height":117}},"lazy":false},{"type":"text","content":"CONROE, Texas, Jan. 29, 2026 (GLOBE NEWSWIRE) -- via IBN -- Olenox Industries Inc. (NASDAQ: OLOX) ("Olenox Industries" or the "Company"), today announced that it has executed a non-binding Letter of Intent to acquire the midstream business and transportation assets of CPE Gathering MidCon, LLC ("CPE Gathering") from Vivakor, Inc. (OTC: VIVK), owner and operator of the Omega pipeline system, an integrated crude-oil gathering, transportation, terminaling and pipeline connection platform serving the Oklahoma STACK play. ","length":553,"tagName":"p"},{"type":"text","content":"The transaction, valued at approximately $36 million, 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.","length":233,"tagName":"p"},{"type":"text","content":""Integrated midstream platforms like CPE Gathering generate durable, fee-based cash flows and provide critical infrastructure in established producing basins," said Michael McLaren, Chief Executive Officer of Olenox. "The proposed acquisition of Vivakor’s Oklahoma midstream business would expand our presence in the STACK while positioning these assets for continued development under an integrated operating model. We couldn't be more excited about this acquisition."","length":499,"tagName":"p"},{"type":"text","content":"CPE Gathering operates the Omega system, an on-basin midstream platform that provides crude gathering, transportation, terminaling and pipeline connectivity in the STACK region of Oklahoma. Omega is positioned to generate fee-based cash flows, reduce hauling and terminaling costs for producers, and provide a scalable on-ramp for technology and services that improve uptime and lo...