Vivakor announced its subsidiary, Vivakor Supply & Trading, LLC (VST), has executed two new recurring crude oil purchase and sale agreements, increasing its total annualized commercial activity to over $1.09 billion. The company also announced it is advancing its flagship oil remediation processing facility in Houston toward commercial operations after fulfilling capital funding commitments.
Key Details
- New Crude Oil Contracts: The two new agreements are expected to generate approximately $384 million in additional annualized commercial activity, adding 400,000 barrels of marketed volume per month.
- Contract Terms: The new transactions are for physical crude oil at the Cushing and Midland Terminals and have a contract term from August 1, 2026, to July 31, 2027.
- Houston Facility Update: Capital funding commitments for the Monarch Remediation & Processing I, LLC joint venture have been fulfilled, allowing commissioning activities to begin at the Harris County, Texas facility.
- Debt Conversion: Between July 21 and July 27, 2026, the company converted approximately $2.25 million of principal and interest from various promissory notes into an aggregate of 2,450,052 shares of common stock.