Vivakor Closes $120 Million Acquisition of Endeavor Entities
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, Inc. (NASDAQ:VIVK), fornitore integrato di servizi energetici, ha completato l'acquisizione delle Entità Endeavor per 120 milioni di dollari, a partire dal 1° ottobre 2024. Questa acquisizione include Endeavor Crude, Meridian Equipment Leasing, Equipment Transport e Silver Fuels Processing, insieme alle loro filiali.
James Ballengee, Presidente e CEO di Vivakor, ha dichiarato che il processo di acquisizione è durato oltre sei mesi e ha portato Vivakor a possedere una delle più grandi flotte combinate di servizi nel settore petrolifero negli Stati Uniti continentali. Ha enfatizzato che l'integrazione e la consolidazione delle operazioni esistenti dovrebbero creare un valore immediato all'interno del loro framework finanziario, generando accrescimento sostenibile degli utili e potenzialmente aumentando il valore per gli azionisti nel tempo.
Vivakor, Inc. (NASDAQ:VIVK), un proveedor integrado de servicios energéticos, ha completado la adquisición de las Entidades Endeavor por 120 millones de dólares, a partir del 1 de octubre de 2024. Esta adquisición incluye Endeavor Crude, Meridian Equipment Leasing, Equipment Transport y Silver Fuels Processing, junto con sus subsidiarias.
James Ballengee, Presidente y CEO de Vivakor, declaró que el proceso de adquisición duró más de seis meses y resultó en que Vivakor ahora posee una de las flotas combinadas más grandes de servicios en campos petroleros en los Estados Unidos continentales. Enfatizó que la integración y consolidación de las operaciones existentes se espera que cree un valor inmediato dentro de su marco financiero, proporcionando un crecimiento sostenible para las ganancias y potencialmente aumentando el valor para los accionistas con el tiempo.
Vivakor, Inc. (NASDAQ:VIVK)는 에너지 서비스의 통합 제공업체로서, Endeavor 실체의 인수를 완료했습니다 가 1억 2천만 달러에 2024년 10월 1일부터 유효합니다. 이번 인수에는 Endeavor Crude, Meridian Equipment Leasing, Equipment Transport 및 Silver Fuels Processing과 그 자회사가 포함됩니다.
Vivakor의 회장 겸 CEO인 James Ballengee는 인수 프로세스가 6개월 이상 걸렸으며 Vivakor가 이제 미국 본토에서 가장 큰 석유 서비스 조합 함대를 보유하게 되었습니다고 밝혔습니다. 그는 기존 운영의 통합과 통합이 재정적 틀 내에서 즉각적인 가치를 창출할 것으로 기대하며, 지속 가능한 수익 증가와 시간이 지남에 따라 주주 가치를 높일 가능성이 있다고 강조했습니다.
Vivakor, Inc. (NASDAQ:VIVK), un fournisseur intégré de services énergétiques, a achevé l'acquisition des Entités Endeavor pour 120 millions de dollars, avec effet au 1er octobre 2024. Cette acquisition comprend Endeavor Crude, Meridian Equipment Leasing, Equipment Transport et Silver Fuels Processing, ainsi que leurs filiales.
James Ballengee, Président et CEO de Vivakor, a déclaré que le processus d'acquisition a duré plus de six mois et a conduit Vivakor à posséder l'une des plus grandes flottes combinées de services pétroliers des États-Unis continentaux. Il a souligné que l'intégration et la consolidation des opérations existantes devraient créer une valeur immédiate dans leur cadre financier, générant une augmentation durable des bénéfices et potentiellement augmentant la valeur pour les actionnaires au fil du temps.
Vivakor, Inc. (NASDAQ:VIVK), ein integrierter Anbieter von Energiedienstleistungen, hat die Akquisition der Endeavor Entities abgeschlossen für 120 Millionen Dollar, wirksam zum 1. Oktober 2024. Diese Akquisition umfasst Endeavor Crude, Meridian Equipment Leasing, Equipment Transport und Silver Fuels Processing sowie deren Tochtergesellschaften.
James Ballengee, Vorsitzender und CEO von Vivakor, erklärte, dass der Akquisitionsprozess über sechs Monate dauerte und dazu führte, dass Vivakor nun eine der größten kombinierten Flotten von Ölfeldservices in den kontinentalen Vereinigten Staaten besitzt. Er betonte, dass die Integration und Konsolidierung der bestehenden Operationen voraussichtlich sofortigen Wert innerhalb ihres finanziellen Rahmens schaffen wird, was zu einer nachhaltigen Steigerung des Ertrags und potenziell zu einem Anstieg des Aktionärswerts über die Zeit führen könnte.
- Acquisition of Endeavor Entities for $120 million
- Vivakor now owns one of the largest combined fleets of oilfield services in the continental US
- Expected immediate value creation through integration and consolidation of operations
- Anticipated sustainable accretion to earnings
- Potential increase in shareholder value over time
- None.
Insights
The $120 million acquisition of the Endeavor Entities by Vivakor is a game-changing move that significantly expands the company's operational footprint in the energy services sector. This deal positions Vivakor as a major player with "one of the largest combined fleets of oilfield services in the continental United States."
The transaction is expected to be immediately accretive to earnings, which is a strong positive signal for investors. The integration of multiple business lines should lead to operational synergies and cost efficiencies. However, it's important to monitor how smoothly the integration process goes, as mergers of this scale can sometimes face challenges.
For a company with a market cap of just
Vivakor's acquisition of the Endeavor Entities is a strategic move that significantly enhances its position in the energy services market. By acquiring businesses across crude transportation, equipment leasing and fuel processing, Vivakor is diversifying its revenue streams and creating a more robust, vertically integrated operation.
The timing of this acquisition is noteworthy, as the energy sector faces ongoing challenges and opportunities related to the transition towards cleaner energy sources. Vivakor's expanded capabilities in energy transportation, storage, reuse and remediation services could position it well to adapt to changing market demands.
However, investors should be aware of the potential risks associated with such a large acquisition in a volatile sector. The success of this deal will largely depend on Vivakor's ability to effectively integrate these diverse operations and capitalize on cross-selling opportunities while navigating the complex regulatory and environmental landscape of the energy industry.
DALLAS, TX / ACCESSWIRE / October 7, 2024 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse, and remediation services, is pleased to announce that all closing processes have been completed and, effective October 1, 2024, it closed its previously announced acquisition of Endeavor Crude, LLC, Meridian Equipment Leasing, LLC, Equipment Transport, LLC, and Silver Fuels Processing, LLC, and their subsidiaries (collectively, the "Endeavor Entities").
James Ballengee, Chairman, President, & CEO, commented, "The closing of the Endeavor Entities was a significant undertaking, with multiple business lines, spanning over six months in the making, culminating in Vivakor now owning one of the largest combined fleets of oilfield services in the continental United States. The integration and consolidation of existing operations creates immediate value within our financial framework, by delivering sustainable accretion to earnings that will result in increased shareholder value over time. We couldn't be more excited about this acquisition."
About Vivakor, Inc.
Vivakor, Inc. (NASDAQ:VIVK), is an integrated provider of energy transportation, storage, reuse, and remediation services. Vivakor's corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Its multi-state suite of facilities provide crude oil gathering, storage, transportation, reuse, and remediation services under long-term contracts.
Vivakor's oilfield waste remediation facilities, currently under construction, will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.
For more information, please visit our website: http://vivakor.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.
These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
Investor Contact:
Phone: (949) 281-2606
info@vivakor.com
SOURCE: Vivakor, Inc.
View the original press release on accesswire.com
FAQ
What companies did Vivakor (VIVK) acquire in its recent $120 million acquisition?
When did Vivakor (VIVK) close the acquisition of the Endeavor Entities?
What is the expected impact of the Endeavor Entities acquisition on Vivakor's (VIVK) operations?
How long did the acquisition process take for Vivakor (VIVK) to complete the Endeavor Entities deal?
