Proposed acquisition would add 17 saltwater disposal facilities and approximately 11.5 million barrels per month of permitted disposal capacity, supporting Vivakor’s RPC strategy Dallas, TX , Oct. 23, 2026 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse and remediation services, today announced completion of its due diligence review of Direct Midstream, LLC , advancing the proposed $40 million acquisition toward a definitive purchase agreement. The milestone moves Vivakor closer to a potential expansion of its Permian Basin infrastructure while advancing its Remediation Processing Center (“RPC”) strategy. Direct Midstream’s produced water management, disposal, oil reclamation and oilfield waste services would complement Vivakor’s transportation and terminaling businesses and its strategy for recovering reusable hydrocarbons from oilfield waste streams, broadening the services available across its energy infrastructure platform. The parties are now working toward finalizing the definitive agreement. Direct Midstream’s platform includes seventeen saltwater disposal facilities and nine fresh water and brine stations, with approximately 11.5 million barrels per month of permitted disposal capacity. Its infrastructure serves oil and gas operators across the Permian Basin and would expand Vivakor’s ability to participate in multiple stages of the energy services value chain. “Direct Midstream represents a substantial opportunity to expand the scale and reach of Vivakor’s infrastructure platform,” said James Ballengee , Chairman, President and Chief Executive Officer of Vivakor . “With due diligence complete, our focus is on finalizing a definitive agreement. Direct’s water management, disposal and oil reclamation capabilities would complement our transportation and terminaling operations while supporting our RPC strategy, positioning Vivakor to serve a broader range of customer needs across the Permian Basin .” As previously announced, the LOI contemplates a $40 million gross purchase price and a $10 million capital investment by Vivakor into Direct Midstream at closing, with that investment reducing the consideration payable to the seller dollar-for-dollar. Final transaction terms will be set forth in the definitive agreement, if executed. Execution of a definitive agreement and completion of the proposed acquisition remain subject to agreement on final terms, funding of the contemplated capital investment and other applicable conditions. There can be no assurance that a definitive agreement will be signed or that the acquisition will close. About Direct Midstream Direct Midstream is a provider of midstream energy and fluid management services serving oil and gas operators throughout the Permian Basin . The company’s services include saltwater disposal, produced water management, oil recovery and reclamation, slop oil processing and related oilfield waste services. Direct Midstream utilizes Class II UIC wells, automation and advanced monitoring systems to support safe, efficient and environmentally responsible operations. About Vivakor, Inc. Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil, storage, transportation, reuse, and remediation services under long-term contracts. Once operational, Vivakor's interest in oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products. Cautionary Statement Regarding Forward-Looking Statements This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and ti