Vivakor, Inc. has signed a non-binding Letter of Intent to acquire Direct Midstream, a water midstream company in the Permian Basin, for $40 million. The deal values Direct Midstream at four times its targeted 2027 free cash flow of $10 million, including a $10 million capital investment by Vivakor. This acquisition would expand Vivakor's infrastructure and oilfield waste management capabilities, complementing its existing operations. The transaction is subject to due diligence and other closing conditions before a definitive agreement is finalized.
Vivakor's proposed $40 million acquisition of Direct Midstream is the subject, with Pluang's Energy sector market data provided for context. As of Oct 09, 2026 19:12 WIB, among 62 priced US Energy stocks on Pluang, 25 rose and 35 fell. Notable movers include SM Energy Company at USD 36.67 with a 1-day change of -1.11% and a typical hold time of 0 days, Phillips 66 at USD 278.50 down 1.10% with a 62-day hold time, and APA Corporation at USD 45.00 down 1.03%, with SM Energy Company showing a near-even buy/sell order split.
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