Vivakor Expands Crude Oil Marketing to Over $700M Annually
Vivakor, Inc., through its subsidiary Vivakor Supply & Trading, announced the execution of four new recurring physical crude oil purchase and sale transactions. These deals are expected to generate approximately $289.2 million in annualized commercial activity and increase marketed volumes by 3.6 million barrels annually. Following these transactions, Vivakor's total recurring commercial programs now represent approximately $709 million in annualized activity and 8.1 million barrels of annual marketed crude oil volumes. Additionally, the company entered into an amendment to its financing agreements, securing the second $6 million tranche of a $12 million financing in exchange for maintaining a $0.37 floor price after a recent 1-for-20 reverse stock split.
Key Highlights
- Executed four new recurring physical crude oil purchase and sale transactions.
- Increased marketed volumes by 300,000 barrels per month (3.6 million barrels annually).
- Expected to generate approximately $289.2 million in annualized commercial activity from new deals.
- Total recurring commercial programs now represent $709 million in annualized activity.
- Total annual marketed crude oil volumes reached 8.1 million barrels.
- Amendment No. 1 secured the second $6 million tranche of $12 million financing.
- Maintained a $0.37 floor price in investment documents after 1-for-20 reverse stock split.
Price Impact
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