Business
Vivakor Signs Term Sheet to Expand Crude Oil Marketing and Remediation Businesses
Consideration would be paid in new Series of Preferred Equity Dallas, TX, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the
About this update from Vivakor, Inc.
[{"type":"text","content":"Consideration would be paid in new Series of Preferred Equity Dallas, TX, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse, and remediation services, announced today it has signed a term sheet with a non-affiliate counterparty to provide up to $23 million in funding in exchange for the issuance of a new series of convertible preferred stock. The contemplated transaction is designed to accelerate the growth of Vivakor’s crude oil marketing and remediation businesses, while also strengthening integration across its trucking and transportation operations in the Permian and Eagle Ford Basins. Vivakor Chairman, President and CEO James Ballengee commented, “This proposed transaction would directly support two of our expanding business segments, crude oil marketing and remediation, while also driving additional volumes across our trucking fleet. By aligning new customer commitments with existing infrastructure, we create synergies across all of our operating divisions, including our network of facilities that provide crude oil injection and terminaling services. We believe this structure provides immediate revenue opportunities and sets the stage for long-term value creation.” Under the non-binding terms of the prospective transaction, Vivakor’s marketing segment, Vivakor Supply & Trading, would receive $15 million in restricted cash to further establish a credit facility earmarked specifically for its crude oil marketing and trading activities, while Vivakor would receive $3 million in unrestricted working capital to support near-term operational needs. Additionally, the Company’s remediation segment would receive at least $5 million in assets and facilities, including land, equipment, and crude oil inventory. In addition, the counterparty would agree to exclusively utilize Vivakor’s trucking fleet for a three-year period in the Permian and Eagle Ford Basins, further strengthening utilization and throughput across the Company’s transportation network. Although not a direct component of the contemplated transaction, the added trucking volumes and expanded marketing activities are also expected to drive incremental demand across Vivakor’s network of crude oil injection and terminaling facilities, supporting integration across all...