Vivakor Amends LOI for $36M Oklahoma Omega System Sale, Eyes July 31 Close
VIVK•Vivakor and Olenox amended their LOI to extend due diligence and target a July 31, 2026 closing for the $36 million sale of Vivakor’s CPE Gathering MidCon business. The Omega system is expected to deliver about $4.56 million in annual EBITDA under take-or-pay contracts.
1. LOI Amendment and Closing Schedule
Vivakor and Olenox executed an amendment to their letter of intent, advancing due diligence, third-party consents and transaction documentation. The amendment sets a new closing target of July 31, 2026, providing additional time to satisfy customary conditions and finalize definitive agreements.
2. Omega System Overview and Financial Impact
CPE Gathering MidCon’s Omega system operates across the STACK region in Oklahoma, offering crude oil gathering, transportation and terminal connectivity. The platform is valued at $36 million and is projected to generate approximately $4.56 million in annual EBITDA under existing take-or-pay contracts.
3. Strategic Rationale
The asset sale supports Vivakor’s strategy to optimize its midstream portfolio and enhance liquidity for further growth initiatives. Proceeds are expected to strengthen the balance sheet, fund integrated infrastructure projects and improve sustainable cash flow generation.
