Vivakor

Vivakor, Inc. engages in the operation, acquisition, and development of clean energy technologies and environmental solutions that focus on soil remediation. It specializes in the remediation of soil and the extraction of hydrocarbons, such as oil, from properties contaminated by or laden with heavy crude oil and other hydrocarbon-based substances. The company focuses on the remediation of contaminated soil and water resulting from either man-made spills or naturally occurring deposits of oil. Its primary focus is remediation of oil spills resulting from the Iraqi invasion of Kuwait and naturally occurring oil sands deposits in the Uinta basin located in Eastern Utah. Vivakor was founded on November 1, 2006 and is headquartered in Lehi, UT.

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Vivakor, Inc. engages in the operation, acquisition, and development of clean energy technologies and environmental solutions that focus on soil remediation. It specializes in the remediation of soil and the extraction of hydrocarbons, such as oil, from properties contaminated by or laden with heavy crude oil and other hydrocarbon-based substances. The company focuses on the remediation of contaminated soil and water resulting from either man-made spills or naturally occurring deposits of oil. Its primary focus is remediation of oil spills resulting from the Iraqi invasion of Kuwait and naturally occurring oil sands deposits in the Uinta basin located in Eastern Utah. The company was founded on November 1, 2006 and is headquartered in Dallas, TX.

DALLAS, TX / ACCESSWIRE / November 30, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a clean energy technology company focused on the oil remediation and natural resources sectors, today announced financial and operational results for the three and nine months ended September 30, 2023. Key Financial Highlights for Three Months Ended September 30, 2023 (year-over-year): Revenue increased 39% to $16.3 million Gross profit increased 28% to $1.5 million Gross margin of 9.5% Operating loss decreased 37% to $2.3 million Adjusted EBITDA increased approximately 1,065% to $1.6 million Net loss decreased 59% to $2.5 million Key Financial Highlights for Nine Months Ended September 30, 2023 (year-over-year): Revenue increased 286% to $45.4 million Gross profit increased 253% to $4.3 million Gross margin of 9.4% Operating loss decreased 23% to $7 million Adjusted EBITDA increased 211% to $1.9 million Net loss decreased 3% to $6.9 million Total assets of $76.1 million Management Commentary Vivakor Chairman and Chief Executive Officer James Ballengee commented, "Our operating assets in Colorado City, Texas and Delhi, Louisiana continue to perform very well and have exceeded our expectations.

Vivakor Reports 39% Revenue Growth to $16.3 Million Revenue for Third Quarter 2023

Chairman and CEO James Ballengee's Compensation Stock Issuance at $1.08 per Share, and Jorgan Development, LLC's Note Conversion Stock Issuance at $1.42 per Share, are 42% and 87% Premium to Current Market Price, Respectively DALLAS, TX / ACCESSWIRE / November 17, 2023 / Vivakor, Inc. (Nasdaq:VIVK) ("Vivakor" or the "Company"), a clean energy technology company focused on the oil remediation and natural resources sectors, is pleased to announce that all of its proposals were approved and with greater than 90% voted for each proposal at its Special Meeting of Shareholders held on November 10, 2023. Vivakor Chairman and Chief Executive Officer James Ballengee commented, "I want to thank our shareholders for their overwhelming support in favor of these now passed proposals.

Vivakor Announces Results of Special Meeting of Shareholders with All Proposals Approved with Greater than 90% Voted For Each Proposal

Vivakor Inc (NASDAQ:VIVK) has provided an update to its shareholders, saying that since acquiring two gathering facilities, Silver Fuels Delhi in Louisiana and Colorado City in Texas about a year ago, the company has achieved better revenues than anticipated at the time of the acquisition.  The clean energy technology firm noted the acquired companies realized approximately $29.1 million in revenue during the six months ending June 30, 2023, representing a 10.232% increase over projections.

Vivakor provides positive update on 2023 revenue, soil extraction technology

Revenue Increased to $29.1 Million and Operating Loss Decreased to $2.0 Million for the First Half 2023 Evaluating Several Strategic Acquisitive and Organic Growth Opportunities LEHI, UT / ACCESSWIRE / November 1, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, is pleased to provide a Shareholder Update, from its Chairman and Chief Executive Officer James Ballengee. To the Shareholders of Vivakor, Inc.: I write to you today with gratitude, pride and excitement.

Vivakor Issues Shareholder Update

Vivakor Inc (NASDAQ:VIVK) has reported strong second-quarter revenue driven by a significant increase in oil and natural gas liquid sales following its August 2022 acquisition of Silver Fuels Delhi, which operates in Louisiana. For the three months ended June 30, 2023, the clean energy technology company reported revenue of $13.6 million, up from nil a year earlier.

Vivakor reports surge in 2Q revenue fueled by oil and natural gas liquid sales

Led by Significant Increase in Oil and Natural Gas Liquid Sales from Prior Acquisition of Silver Fuels Delhi, LLC LEHI, UT / ACCESSWIRE / August 24, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, today announced financial and operational results for the three and six months ended June 30, 2023. Key Financial Highlights for Three Months Ended June 30, 2023 (year-over-year): Revenue increased to $13.6 million Gross profit increased to $1.2 million Gross margin of 8.9% Operating loss decreased 77% to $0.8 million (included $0.4 million of non-cash or one-time expenses) Net loss decreased 62% to $1.8 million Cash balance of $2.6 million Total assets of $76.9 million Key Financial Highlights for Six Months Ended June 30, 2023 (year-over-year): Revenue increased to $29.1 million Gross profit increased to $2.7 million Gross margin of 9.4% Operating loss decreased 64% to $2.0 million (included $1.5 million of non-cash expenses) Net loss decreased 20% to $4.4 million Management Commentary Vivakor Chairman and Chief Executive Officer James Ballengee commented, "Our second quarter and first half 2023 operating and financial results were in-line with our internal expectations.

Vivakor Reports $13.6 Million Revenue for Second Quarter 2023

Vivakor Inc (NASDAQ:VIVK) has announced first-quarter 2023 revenue of $15.5 million, compared to nil for the same period last year, which the company attributed primarily to oil and natural gas liquid sales from its Silver Fuels Delhi, LLC operations.    The clean energy technology firm also realized a gross profit for the quarter of $1.5 million and saw its operating loss shrink 40% year over year to $1.1 million.

Vivakor sees 1Q revenue surge from oil and natural gas liquid sales

Led by Significant Increase in Oil and Natural Gas Liquid Sales from Prior Acquisition of Silver Fuels Delhi, LLC LEHI, UT / ACCESSWIRE / August 1, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, today announced financial and operational results for the first quarter ended March 31, 2023. Key Financial Highlights for First Quarter Ended March 31, 2023 (year-over-year): Revenue increased to $15.5 million Gross profit increased to $1.5 million Gross margin of 9.7% Operating loss decreased 40% (year over year) to $1.1 million (included $1.4 million of non-cash or one-time expenses) Net loss increased 322% year over year to $2.5 million Cash balance of $2.7 million Total assets of $74.7 million Management Commentary Vivakor Chairman and Chief Executive Officer James Ballengee commented, "Our first quarter was in-line with our internal expectations, as our crude oil gathering, storage and transportation facilities continued to perform well.

Vivakor Reports $15.5 Million Revenue for First Quarter 2023

Vivakor said it is relocating its Remediation Processing Center 2 (RPC #2) from Vernal in Utah to Kuwait based on successful trial results yielding less than 1% total petroleum hydrocarbons (TPC) in treated contaminated soil. The trial, conducted at the South Kuwait Excavation, Transportation and Remediation Zone III project in the DIC Yard, Mina Abdullah, Kuwait, was deemed a success, with the commissioning phase concluded and approved to move to commercialization.

Vivakor announces relocation of Remediation Processing Center 2 to Kuwait with revenue generation expected in 2024

Based on Successful Results Yielding Less Than 1% Total Petroleum Hydrocarbons in Treated Contaminated Soil in Kuwait LEHI, UT / ACCESSWIRE / June 20, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, is pleased to announce the planned relocation of its Remediation Processing Center 2 (RPC #2) from Vernal, Utah to Kuwait. The Company is expecting to begin the dismantling process for RPC #2 by the end of June and targeted to be in Kuwait during the fourth quarter 2023.

Vivakor Relocating RPC #2 from Vernal, Utah to Kuwait

Vivakor Inc (NASDAQ:VIVK) reported a significant year-over-year jump in revenue for the full-year 2022, driven by increased oil and natural gas liquid sales following its acquisition of Silver Fuels Delhi. For the 12 months ending December 31, 2022, the company posted revenue of $28.1 million, compared to $1.1 million for the previous financial year.

Vivakor acquisitions fuel full-year revenue growth in 2022

Led by Significant Increase in Oil and Natural Gas Liquid Sales from Acquisition of Silver Fuels Delhi, LLC LEHI, UT / ACCESSWIRE / May 25, 2023 / Vivakor, Inc. (Nasdaq:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, today announced financial and operational results for the fourth quarter and year ended December 31, 2022. Key Financial Highlights for Year Ended December 31, 2022: Revenue increased to $28.1 million Gross profit increased to $2.9 million Gross margin of 10.2% Operating loss increased to $22.7 million (included $19.4 million of non-cash or one-time expenses) Net loss increased to $19.4 million Cash balance of $3.1 million Total assets of $76.3 million Management Commentary Vivakor Chairman and Chief Executive Officer James Ballengee commented, "While we are pleased with our quarterly and annual operating results since the closing of our transformational acquisition in August 2022, this past year was very much a set-up year for 2023 and beyond.

Vivakor Reports $28.1 Million Revenue for 2022 Fiscal Year

Related to Delayed Filing of Quarterly Report on Form 10-Q LEHI, UT / ACCESSWIRE / May 24, 2023 / Vivakor, Inc. (the "Company" or "Vivakor") (NASDAQ:VIVK) today announced that it has received, on May 18, 2023, a standard notice from the Nasdaq Listing Qualifications staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, as a result of not having timely filed its quarterly report on Form 10-Q for the period ended March 31, 2023 (the "Form 10-Q") and remaining delinquent in filing its annual report on Form 10-K for the fiscal year ended December 31, 2022 (the "Form 10-K"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). The Nasdaq notice has no immediate effect on the listing or trading of the Company's securities on the Nasdaq Capital Market.

Vivakor Inc. Receives Notification of Deficiency from Nasdaq

LEHI, UT / ACCESSWIRE / April 26, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, received on April 20, 2023 a standard notice from Nasdaq indicating that, as a result of not having timely filed its annual report on Form 10-K for the fiscal year ended December 31, 2022 (the "Form 10-K"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). The Nasdaq notice has no immediate effect on the listing or trading of the Company's securities on the Nasdaq Capital Market.

Vivakor Inc. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K

Vivakor Inc (NASDAQ:VIVK) has revealed its new-look board of directors. In a statement, the company's CEO James Ballengee told investors that the new directors bring “a wealth of experience and knowledge” across the clean technology and financial sectors.

Vivakor unveils new board of directors

Adds Significant Oil and Gas Industry and Public Company Experience LEHI, UT / ACCESSWIRE / March 22, 2023 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, is pleased to formally announce its newly constituted Board of Directors, as had been previously disclosed in the Company's 8-K filings. Vivakor Chairman and Chief Executive Officer James Ballengee, commented, "We are extremely excited to welcome our new Board of Directors, who bring a wealth of expertise and knowledge both in our industry and the financial capital markets.

Vivakor Announces New Board of Directors

Vivakor Inc (NASDAQ:VIVK) posted third-quarter results that saw its revenue jump 1,118% year-over-year driven by a significant increase in oil and natural gas liquid sales from its recent acquisition of Silver Fuels Delhi LLC, which operates in Louisiana.   For the period ending September 30, 2022, the Irvine, California-based clean energy technology company focused on the oil remediation and natural resources sectors, reported revenue of $11.8 million, compared to $1 million in the third quarter of 2021.

Vivakor sees 3Q revenue soar to $11.8M driven by oil and natural gas liquid sales from its Silver Fuels Delhi acquisition

Led by Significant Increase in Oil and Natural Gas Liquid Sales from Recent Acquisition of Silver Fuels Delhi, LLC IRVINE, CA / ACCESSWIRE / November 29, 2022 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, today announced financial and operational results for the third quarter and nine months ended September 30, 2022. Key Financial Highlights for Three Months Ended September 30, 2022 Compared to Prior Year Period: Revenue increased 1,118% to $11.8 million Gross profit increased $1.2 million Gross margin of 10.3% Net loss decreased 46% to $1.6 million Cash balance of $4.4 million Total assets of $94.8 million Key Business Highlights for Three Months Ended September 30, 2022: Closed Acquisitions with Operations and Long-Term Contracts in Louisiana and Texas Servicing Two Major U.S. Oil Basins Subsequent to the End of the Third Quarter Ended September 30, 2022 Appointed Prominent Oil Industry Expert James Ballengee as Chief Executive Officer and Chairman of the Board Management Commentary Vivakor Chairman and Chief Executive Officer James Ballengee, commented, "We are very pleased with our quarterly results, our first quarter including our newly acquired assets in the oil and natural gas segment.

Vivakor Reports Growth of 1,118% to $11.8 Million in Revenue for Third Quarter 2022

Vivakor Inc (NASDAQ:VIVK) said it has hired oil industry expert James Ballengee as its new CEO and board chair to lead its environmental-social-governance (ESG) efforts, diversity its products and services and develop future projects. Vivakor said Ballengee will lead its recent acquisitions of Silver Fuels Delhi and White Claw Colorado City, combining the benefits of a midstream oil and gas company with its proprietary Remediation Processing Centers, and providing the opportunity to capture a significantly greater portion of the oil storage, transportation, and remediation value chain.

Vivakor hires oil industry expert James Ballengee as new CEO

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Vivakor Inc (NASDAQ:VIVK) has announced the closing of the acquisitions of two companies with operations and long-term contracts servicing major US oil basins in Louisiana and Texas.  Vivakor said pursuant to the previously-announced membership interest purchase agreement between the company, Jorgan Development LLC and JBAN LLC, it has acquired Silver Fuels Delhi LLC (SFD) and White Claw Colorado City LLC (WCCC).

Vivakor closes acquisition of energy companies with assets in key US oil basins

Generated $33 Million in Revenue and Positive Operating Cash Flow in 2021 LEHI, UT / ACCESSWIRE / August 2, 2022 / Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, is pleased to announce it has closed on the acquisitions of Silver Fuels Delhi, LLC ("SFD") and White Claw Colorado City, LLC ("WCCC") pursuant to the previously announced June 15, 2022 Membership Interest Purchase Agreement among the Company, Jorgan Development, LLC ("Jorgan") and JBAH, LLC ("JBAH"). Total consideration paid for SFD and WCCC was $37.4 million consisting of shares of restricted common stock equal to 19.99% of the total issued and outstanding shares of Vivakor's common stock that are subject to lock-up agreements preventing their sale for a period of up to 18 months, promissory notes and certain assumed liabilities which are subject to post-closing adjustments.

Vivakor Closes Acquisitions with Operations and Long-Term Contracts in Louisiana and Texas Servicing Two Major U.S. Oil Basins

Shares of small-cap penny stock Vivakor Inc. (NASDAQ: VIVK) are trading higher after the company announced it signed a definitive agreement to acquire Silver Fuels Delhi and White Claw Colorado City. The acquisitions will enable Vivakor to enter a synergistic segment of the energy industry with the.

Why Vivakor Shares Are Soaring Today

Vivakor Inc (NASDAQ:VIVK) announced plans to acquire two companies with assets in the key US oil states of Louisiana and Texas in a deal worth around $37.4 million. The company struck a definitive agreement to acquire Silver Fuels Delhi LLC, operating in Louisiana, and White Claw Colorado City LLC, which operates in Texas.

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