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Vivakor Secures $108M Crude Oil Deal
4 Jun
Summary
- Vivakor's trading platform secured a recurring one-year crude oil transaction.
- The deal involves 100,000 barrels of crude oil monthly via Cushing Terminal.
- This agreement is valued at approximately $108 million annually.
Vivakor, Inc. has entered into a recurring one-year crude oil transaction through its Vivakor Supply & Trading platform. This significant agreement, set to commence on June 1, 2026, and conclude on May 31, 2027, involves approximately 100,000 barrels of crude oil each month, to be sourced via the Cushing Terminal.
Based on current market pricing, this arrangement represents an estimated $9 million per month, totaling about $108 million annually. Vivakor intends to leverage this deal to expand its expertise in crude oil sourcing, marketing, transportation, and volume management. The company aims to boost asset utilization, integrate its operational network more effectively, and increase value generation within key U.S. production areas.
Company Chairman and CEO James Ballengee highlighted Cushing's importance as a North American crude oil hub, noting that this agreement strengthens Vivakor's position across various segments of the crude oil value chain and improves utilization of its integrated operating network. Vivakor operates in the oil and gas industry, focusing on crude oil gathering, storage, and transportation, alongside environmental solutions like contaminated soil remediation.
