Vivakor Completes Pipeline Expansion Project
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) ha completato la costruzione di ulteriori tubazioni di raccolta collegate al suo Omega Pipeline System nella contea di Blaine, Oklahoma. Il progetto di espansione, approvato nell'ottobre 2024 dopo l'acquisizione delle Endeavor Entities, è stato completato in anticipo rispetto ai tempi previsti e sotto budget. Il progetto include due nuove tubazioni di raccolta e si prevede aumenterà immediatamente i volumi dei clienti dalla produzione di petrolio collegata. L'Omega Pipeline System si estende per circa 64 chilometri, servendo il giacimento STACK nella Anadarko Basin dell'Oklahoma, con collegamenti al centro di stoccaggio di Cushing tramite il Plains STACK Pipeline ed è supportato da una flotta di circa due dozzine di camion.
Vivakor (NASDAQ:VIVK) ha completado la construcción de líneas de recolección adicionales conectadas a su Omega Pipeline System en el condado de Blaine, Oklahoma. El proyecto de expansión, aprobado en octubre de 2024 tras la adquisición de Endeavor Entities, se completó antes de lo previsto y por debajo del presupuesto. El proyecto incluye dos nuevas líneas de recolección y se espera que aumente de inmediato los volúmenes de clientes de la producción de petróleo conectada. El Omega Pipeline System se extiende por aproximadamente 64 kilómetros, sirviendo al yacimiento STACK en la cuenca Anadarko de Oklahoma, con conexiones al centro de almacenamiento de Cushing a través del Plains STACK Pipeline y está respaldado por una flota de alrededor de dos docenas de camiones.
Vivakor (NASDAQ:VIVK)는 오클라호마주 블레인 카운티에 있는 오메가 파이프라인 시스템에 연결된 추가 집수라인 건설을 완료했습니다. 2024년 10월 Endeavor Entities 인수 후 승인된 확장 프로젝트는 예정보다 일찍 예산 이하로 완료되었습니다. 이 프로젝트에는 두 개의 새로운 집수라인이 포함되어 있으며 즉시 연결된 석유 생산으로 고객의 물량을 증가시킬 것으로 예상됩니다. 오메가 파이프라인 시스템은 약 64킬로미터에 걸쳐 있으며 오클라호마주 아나다코 분지의 STACK 플레이에 서비스를 제공하며, 플레인 STACK 파이프라인을 통해 커싱 저장 허브와 연결되어 있으며, 약 두 다스의 트럭으로 지원됩니다.
Vivakor (NASDAQ:VIVK) a achevé la construction de lignes de collecte supplémentaires connectées à son Système de pipeline Omega dans le comté de Blaine, en Oklahoma. Le projet d'extension, approuvé en octobre 2024 suite à l'acquisition des Endeavor Entities, a été terminé avant la date prévue et sous le budget. Le projet comprend deux nouvelles lignes de collecte et devrait immédiatement augmenter les volumes des clients provenant de la production de pétrole connectée. Le Système de pipeline Omega s'étend sur environ 64 kilomètres, desservant le jeu STACK dans le bassin Anadarko de l'Oklahoma, avec des connexions au hub de stockage de Cushing via le pipeline Plains STACK et est soutenu par une flotte d'environ deux douzaines de camions.
Vivakor (NASDAQ:VIVK) hat den Bau zusätzlicher Rohre zur Sammlung abgeschlossen, die mit seinem Omega Pipeline System im Blaine County, Oklahoma, verbunden sind. Das Erweiterungsprojekt, das im Oktober 2024 nach der Übernahme durch die Endeavor Entities genehmigt wurde, wurde vor dem Zeitplan und unter Budget abgeschlossen. Das Projekt umfasst zwei neue Sammelleitungen und wird voraussichtlich sofort die Kundenmengen aus der angeschlossenen Ölproduktion erhöhen. Das Omega Pipeline System erstreckt sich über etwa 64 Kilometer und bedient das STACK-Feld im Anadarko-Becken in Oklahoma, mit Verbindungen zum Speicherzentrum in Cushing über die Plains STACK Pipeline und wird von einer Flotte von etwa zwei Dutzend Lastwagen unterstützt.
- Project completed ahead of schedule and under budget
- Immediate increase in customer volumes expected
- Pipeline system supported by existing acreage dedications from key customers
- Integration with existing truck fleet for additional volume support
- None.
Insights
This pipeline expansion project represents a strategic operational enhancement for Vivakor's midstream business. The completion of two new gathering lines in the Omega Pipeline System ahead of schedule and under budget demonstrates strong project execution capabilities. The STACK play in Oklahoma's Anadarko Basin is a significant oil-producing region and expanding gathering infrastructure here positions VIVK to capture additional volume opportunities.
The expanded system, now connecting to 40 miles of crude oil gathering and shuttle pipeline infrastructure, strengthens VIVK's competitive position in the region. Direct connection to the important Cushing storage hub via Plains STACK Pipeline provides valuable market access. The integration with their 24-truck fleet creates operational synergies and flexibility in serving customer needs.
However, while positive for operations, the details on expected volume increases and financial impact make it difficult to quantify the immediate revenue benefit. For a company with a market cap of
New Infrastructure Expected to Bolster Oklahoma Volumes & Operations
DALLAS, TX / ACCESSWIRE / November 25, 2024 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse, and remediation services, has completed construction of additional gathering lines connected to its Omega Pipeline System in Blaine County, Oklahoma.
Subsequent to its acquisition of the Endeavor Entities, as previously announced, in October 2024, the Company approved a project to expand its Omega Pipeline System in Blaine County, Oklahoma. The expansion is expected to result in immediate incremental customer volumes from connected oil production. The project consisted of two new gathering lines and was completed ahead of schedule and under-budget. "I'm proud of the quick work accomplished by our in-house construction management team," said James Ballengee, Chairman, President, & CEO. "This is another positive step forward in executing upon our midstream strategy to organically grow volumes and retain important customers."
The Omega Pipeline System is an approximately 40-mile crude oil gathering and shuttle pipeline system that serves the STACK play in Oklahoma's Anadarko Basin. It is supported by acreage dedications from key producer and marketing customers, and is connected to the Cushing, Oklahoma storage and trading hub via the Plains STACK Pipeline. The Omega Pipeline System's operations are complemented by and integrated with a fleet of approximately two dozen trucks supporting additional incremental volumes from customers.
About Vivakor, Inc.
Vivakor, Inc. (NASDAQ:VIVK), is an integrated provider of energy transportation, storage, reuse, and remediation services. Vivakor's strategy is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Its integrated trucking and facility assets provide crude oil and produced water transportation, gathering, storage, reuse, and remediation services under long-term contracts.
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.
Contact Information
Investor Contact
info@vivakor.com
(949) 281-2606
SOURCE: Vivakor, Inc.
View the original press release on accesswire.com
FAQ
What is the recent pipeline expansion project completed by Vivakor (VIVK)?
When did Vivakor (VIVK) complete its Omega Pipeline System expansion?
How long is Vivakor's (VIVK) Omega Pipeline System?
