NetworkNewsBreaks – Olenox Industries Inc. (NASDAQ: OLOX) Signs LOI to Acquire Vivakor’s Oklahoma Midstream Assets
Olenox Industries Inc. (NASDAQ: OLOX) on Thursday announced its execution of a non-binding letter of intent to acquire the midstream business and transportation assets of CPE Gathering MidCon LLC from Vivakor Inc. (OTC: VIVK), including the Omega pipeline system serving the Oklahoma STACK play. The proposed transaction is valued at approximately $36 million and is structured as a combination of cash, promissory note, and common and preferred stock, based on $4.56 million in annual EBITDA supported by a take-or-pay guarantee from Vivakor. According to the company, CPE Gathering operates an on-basin crude-oil gathering, transportation, terminaling, and pipeline connectivity platform in…







