Vivakor signs indication of interest to buy Direct Midstream
VIVK•Vivakor entered a non-binding indication of interest to acquire Direct Midstream, which operates 17 saltwater disposal sites and nine freshwater and brine stations with permitted disposal capacity of about 11.5 million barrels per month.
1. Proposed acquisition
Direct Midstream is a Midland, Texas-based produced-water midstream operator. The proposed acquisition would add produced-water management and oilfield waste infrastructure in the Permian Basin to Vivakor’s transportation, terminaling and environmental services. Completion remains subject to negotiations, due diligence and definitive agreements.
