Vivakor Acquisition Target Direct Midstream Reports Definitive Operating Agreements for 52-Well New Mexico Portfolio
Key Highlights
- ➤Direct Midstream finalizes agreements covering 52 New Mexico wells
- ➤Portfolio includes 44 oil production wells and eight saltwater disposal wells
- ➤Direct Midstream estimates over $2 million annual service revenue at targeted levels
- ➤Vivakor’s proposed $40 million Direct Midstream acquisition remains conditional
- ➤Operations require New Mexico regulatory and potential federal approvals
Expert Statements
James Ballengee, Chairman, President and Chief Executive Officer of Vivakor
“We are encouraged by Direct Midstream's continued commercial progress as we work toward our proposed acquisition”
James Ballengee, Chairman, President and Chief Executive Officer of Vivakor
“These agreements represent a meaningful step in expanding Direct's operating capabilities and creating opportunities for recurring service revenue.”
James Ballengee, Chairman, President and Chief Executive Officer of Vivakor
“We believe this progress further supports the strategic rationale for our proposed acquisition and the potential integration of Direct Midstream into Vivakor's energy infrastructure platform.”
Signed Agreements with Artesia Group and Phoenix Energy Solutions Advance Previously Announced Commercial Opportunity
Dallas, TX, Nov. 11, 2026 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse and remediation services, today reported that Direct Midstream, LLC (“Direct Midstream”), the subject of Vivakor’s previously announced proposed $40 million acquisition, has finalized definitive operating agreements with Artesia Group, LLC (“Artesia”) and Phoenix Energy Solutions, LLC (“PES”) covering a 52-well portfolio in New Mexico.
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