EXCLUSIVE: Vivakor Expands Logistics Footprint Via $108 Million Oil Deal

1 week ago 17

Vivakor, Inc. (NASDAQ:VIVK) connected Thursday disclosed that its commodities trading platform, Vivakor Supply & Trading, penned a recurring one-year crude lipid transaction.

Details

The transaction entails astir 100,000 barrels of crude lipid per period done the Cushing Terminal.

The one-year statement volition span from June 1, 2026, to May 31, 2027. It represents an estimated $9 cardinal per month, oregon astir $108 cardinal annualized, based connected existent marketplace pricing.

Through its trading and proviso operations, the institution plans to broaden its capabilities successful sourcing, marketing, transporting, and managing crude volumes, driving higher plus utilization, improving web integration, and enhancing worth procreation crossed large U.S. accumulation basins.

Vivakor Chairman and Chief Executive Officer James Ballengee added, "Cushing remains 1 of the astir important crude lipid trading hubs successful North America, and this statement enhances our quality to enactment successful aggregate segments of the crude lipid worth concatenation portion expanding utilization crossed our integrated operating network."

What Does Vivakor Do?

Vivakor is an operator, acquirer and developer of technologies and assets successful the lipid and state industry, on with related biology solutions. The institution focuses connected crude lipid gathering, storage, and proscription facilities, and it besides provides contaminated ungraded remediation services.

Operationally, it reports 2 segments: proscription logistics services and terminaling/storage products and services tied to lipid and state production.

The terminaling and retention conception drives astir of its revenue, truthful investors often cardinal successful connected throughput, utilization, and request conditions that tin power those assets implicit time.

VIVK Price Action: Vivakor shares were down 4.43% astatine $1.26 during premarket trading connected Thursday. The banal is trading adjacent its 52-week debased of $1.02, according to Benzinga Pro data.

Photo via Shutterstock

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