Vivakor completes due diligence on proposed $40 million Direct Midstream acquisition
VIVK•Vivakor completed due diligence on its proposed $40 million acquisition of Direct Midstream and is moving toward a definitive agreement. Proposed terms include a $10 million capital investment at closing, which would reduce consideration payable to the seller dollar-for-dollar.
1. Proposed acquisition terms
Vivakor completed due diligence on its proposed $40 million acquisition of Direct Midstream, moving toward a definitive agreement. Proposed terms include a $10 million capital investment at closing that would reduce consideration payable to the seller dollar-for-dollar.
2. Direct Midstream operations
Direct Midstream operates 17 saltwater disposal facilities with approximately 11.5 million barrels per month of permitted disposal capacity, plus nine fresh water and brine stations serving Permian Basin oil and gas operators. The acquisition would expand Vivakor’s water management and oil reclamation capabilities, supporting its Remediation Processing Center strategy.
