Olenox Industries to Acquire Vivakor's Oklahoma Midstream Assets for $36 Million

Deal Expands Company's Presence in STACK Play, Provides Scalable Infrastructure

Published on Feb. 25, 2026

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Olenox Industries Inc. (Nasdaq: OLOX), a multifaceted energy company, has signed a letter of intent to acquire the midstream business and transportation assets of CPE Gathering MidCon, LLC from Vivakor, Inc. (OTC: VIVK) for approximately $36 million. The deal will expand Olenox's presence in the Oklahoma STACK play and provide critical infrastructure to generate fee-based cash flows and reduce costs for producers.

Why it matters

The acquisition of Vivakor's midstream assets aligns with Olenox's strategy of building an integrated energy, technology, and infrastructure platform. The Omega pipeline system provides a scalable on-ramp for Olenox's services and technology, reducing commodity volatility exposure and generating operational synergies.

The details

The $36 million transaction will be paid through a combination of cash, promissory note, common and preferred stock. The assets include the Omega pipeline system, which provides crude gathering, transportation, terminaling, and pipeline connectivity in the STACK region. Olenox plans to recommission the 162-mile pipeline to produce both natural gas liquids and dry gas, with the intention of using the surplus dry gas as feedstock for its containerized generator sets to produce power.

  • On January 29th, Olenox announced the execution of a non-binding letter of intent to acquire Vivakor's midstream assets.
  • On January 27th, Olenox announced the commencement of the process to recommission its 162-mile pipeline.

The players

Olenox Industries Inc.

A multifaceted energy company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets.

Vivakor, Inc.

The owner and operator of the Omega pipeline system, an integrated crude-oil gathering, transportation, terminaling, and pipeline connection platform serving the Oklahoma STACK play.

Michael McLaren

Chief Executive Officer of Olenox Industries.

Erik Blum

Chief Executive Officer of Fynntechnical Innovations Inc. and newly appointed member of Olenox's Board of Directors.

Adam Falkoff

President of CapitalKeys, a bipartisan global public policy and strategic consulting firm, and newly appointed member of Olenox's Board of Directors.

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What they’re saying

“Integrated midstream platforms like CPE Gathering generate durable, fee-based cash flows and provide critical infrastructure in established producing basins. The proposed acquisition of Vivakor's Oklahoma midstream business would expand our presence in the STACK while positioning these assets for continued development under an integrated operating model.”

— Michael McLaren, Chief Executive Officer of Olenox Industries (Olenox Industries Press Release)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This acquisition allows Olenox to expand its presence in the Oklahoma STACK play, providing critical midstream infrastructure that generates stable, fee-based cash flows and reduces costs for producers, while also aligning with the company's strategy of building an integrated energy, technology, and infrastructure platform.