Vivakor Stock Price, News & Analysis

CEO James Ballengee noted that while transportation volumes decreased slightly due to global events, the company's long-term contracts and operational adjustments helped maintain performance.

Vivakor (NASDAQ:VIVK) reported a successful 2024 and provided outlook for 2025, highlighting its highest contracted revenue level in company history. The company exited 2024 with an annual projected revenue run-rate exceeding $160 million.

Key 2024 achievements include:

• Completion of the $120 million acquisition of Endeavor Entities, expanding operations with 10-year take-or-pay contracts
• Pipeline expansion project in Blaine County, Oklahoma's STACK play
• Completion of factory acceptance tests for Remediation Processing Center in Houston
• Formation of Vivakor Supply & Trading division

The company now moves over 300,000 barrels/month through various assets, operates 165 crude oil transportation units across major oil production basins, and 105 water transportation trucks in Texas. Their technology is exclusively approved by Kuwait Oil Company for soil remediation.

Vivakor (NASDAQ:VIVK) reported strong financial results for Q4 2024, with revenue surging 201% year-over-year to $41.7 million. The company's gross profit increased 746% to $5.7 million, with a gross margin of 20.01%.

For the full year 2024, revenue grew 51% to $89.8 million, with gross profit up 104% to $10.2 million. The newly acquired transportation logistics business segment contributed $18.8 million to revenue with a 27% gross margin. The terminaling and storage segment saw revenues increase by $11.8 million (19.84%).

Total assets increased by $170.7 million, primarily due to a business combination acquisition completed on October 1, 2024. This includes $87.7 million in property plant and equipment, comprising a newly acquired truck fleet, a 45-mile crude oil gathering pipeline in Oklahoma, and 15 crude oil pipeline injection truck stations. The company entered 2025 with approximately $160 million projected annualized revenue run-rate.

Vivakor (NASDAQ:VIVK) has completed the construction of additional gathering lines connected to its Omega Pipeline System in Blaine County, Oklahoma. The expansion project, approved in October 2024 following the Endeavor Entities acquisition, was completed ahead of schedule and under budget. The project includes two new gathering lines and is expected to immediately increase customer volumes from connected oil production. The Omega Pipeline System spans approximately 40 miles, serving the STACK play in Oklahoma's Anadarko Basin, with connections to the Cushing storage hub via Plains STACK Pipeline and is supported by a fleet of about two dozen trucks.

Vivakor (NASDAQ:VIVK) has updated the timeline for its merger with Empire Diversified Energy, moving the expected closing from 2024 to Q1 2025. The delay is attributed to Vivakor's recent acquisition of the Endeavor Entities, which closed on October 1, 2024. The merger terms include Empire becoming a wholly-owned subsidiary of Vivakor through an exchange of 67.2 million shares, with 7.5% held in escrow and 65% subject to a 12-month lock-up period. Empire must maintain $2.5 million in unrestricted cash at closing. The merger requires stockholder approval, a fairness opinion, and registration of shares via Form S-4.

Vivakor (NASDAQ:VIVK), an integrated provider of energy transportation, storage, reuse, and remediation services, has announced its participation in the ThinkEquity Conference on October 30, 2024 at the Mandarin Oriental Hotel in New York. The conference, which attracts over 700 public company advisors, institutional investors, and presenting companies, offers networking opportunities and insights into emerging industry trends.

James Ballengee, Vivakor's Chairman, President, and CEO, is scheduled to present on October 30 at 1:00 p.m. Eastern time. He will also be available for one-on-one meetings with institutional analysts and investors. The presentation is expected to cover the company's recent $120 million acquisition, although specific details about this acquisition are not provided in the press release.

Vivakor, Inc. (NASDAQ:VIVK), an integrated provider of energy services, has completed the acquisition of the Endeavor Entities for $120 million, effective October 1, 2024. This acquisition includes Endeavor Crude, , Meridian Equipment Leasing, , Equipment Transport, , and Silver Fuels Processing, , along with their subsidiaries.

James Ballengee, Chairman, President, & CEO of Vivakor, stated that the acquisition process spanned over six months and has resulted in Vivakor now owning one of the largest combined fleets of oilfield services in the continental United States. He emphasized that the integration and consolidation of existing operations is expected to create immediate value within their financial framework, delivering sustainable accretion to earnings and potentially increasing shareholder value over time.

Vivakor (NASDAQ:VIVK) announced that its Board of Directors has approved the closing of its $120 million acquisition of the Endeavor Entities, effective October 1, 2024. The Endeavor Entities comprise a fully-integrated midstream logistics business that transports, stores, treats, remediates, and sells crude oil, produced water, and associated hydrocarbons. For the six months ended June 30, 2024, the Endeavor Entities realized revenues of $47.3 million and $9.3 million EBITDA, projecting to $94.6 million in revenue and $18.6 million EBITDA annually.

The acquisition strategically integrates with Vivakor's existing facilities and provides a platform for expansion. The purchase price includes assumed debt and an earn-out adjustment, payable in a combination of Vivakor common stock and Series A Convertible Preferred Stock. This acquisition positions Vivakor as one of the largest oilfield trucking service providers in the continental United States.