Olenox Extends Acquisition Deadline for $36M Vivakor Midstream Assets to April 30 2026
Olenox Industries amended its letter of intent to acquire Vivakor’s CPE Gathering midstream assets, extending the closing date from March 31 to April 30, 2026 (latest May 15). The $36 million deal, backed by a $4.56 million EBITDA take-or-pay guarantee, adds the Omega pipeline platform in Oklahoma’s STACK.
1. Amendment to Letter of Intent
Olenox Industries and Vivakor revised their original closing target, moving the acquisition deadline from March 31 to April 30, 2026, with a final cutoff of May 15. This extension allows additional due diligence and aligns with both companies’ audit requirements.
2. Details of Assets and Valuation
The transaction values Vivakor’s CPE Gathering MidCon assets, including the Omega crude gathering, transportation and terminaling system, at $36 million. Payment comprises cash, promissory note, common and preferred stock, and rests on a $4.56 million annual EBITDA take-or-pay guarantee.
3. Strategic Rationale and Synergies
Adding the Omega pipeline platform expands Olenox’s fee-based midstream footprint in the STACK, reduces hauling costs for producers and offers scalable infrastructure. The acquisition supports Olenox’s integrated energy model by aligning midstream logistics with its field services to improve uptime and lower per-well costs.