Vivakor signs LOI for proposed $40 million Direct Midstream acquisition

Bitget2026/10/09 13:01

Vivakor signed a non-binding LOI to buy Direct Midstream, a Midland-based produced-water midstream operator in the Permian Basin. Gross purchase price set at USD 40 million, based on 4x targeted 2027 free cash flow of USD 10 million. Structure includes a USD 10 million capital investment at closing, reducing seller consideration dollar-for-dollar. Remaining consideration expected to be about USD 29 million in Series B Preferred Stock, USD 1 million in common stock. Price adjusts to actual 2027 free cash flow, with a range of USD 30 million to USD 50 million. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vivakor Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610090900PRIMZONEFULLFEED9842671) on October 09, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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