Olenox Industries (NASDAQ: OLOX) has amended its letter of intent with Vivakor Inc. (OTC: VIVKD) to extend the expected closing date for the acquisition of the Omega pipeline system and related midstream assets to April 30, 2026. The approximately $36 million transaction, structured with a mix of cash, debt and equity, would add fee-based crude gathering, transportation and terminaling infrastructure in Oklahoma's STACK play. The extension allows both companies to continue diligence and audit processes for the acquisition.
This transaction supports Olenox's strategy to expand recurring revenue and integrate midstream capabilities with its existing energy and field services platform. The company operates as a vertically integrated energy company across three synergistic divisions: Oil and Gas, Energy Services, and Energy Technologies. Olenox's integrated model drives efficiency, increases production and unlocks value across the energy lifecycle, positioning the company to capture opportunities often overlooked by traditional operators.
The company acquires and optimizes underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma while supporting field operations with specialized well services and proprietary enhanced-recovery technologies. The acquisition extension represents a significant development in Olenox's growth strategy as the company seeks to strengthen its position in the energy sector through strategic acquisitions and vertical integration. The full press release can be viewed at https://ibn.fm/h0HPF.
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