EXCLUSIVE: Vivakor Bets On Permian Boom With 10 Crude Hubs
Vivakor, Inc's (NASDAQ:VIVK) announced Tuesday that its growth strategy is anchored in the Permian and Eagle Ford Basins, where the company is positioned to expand its integrated crude oil storage, logistics, and marketing value chains.
Vivakor said it owns and operates 10 strategically located pipeline injection stations in the core Permian Basin in Texas and New Mexico.
These facilities receive and aggregate crude oil transported by truck from production wells, throughputting volumes into interstate crude oil pipelines that include Centurion (Lotus), Plains Basin Pipeline (PAA), and the West Texas System (EPD).
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James Ballengee, Vivakor Chairman and CEO, said its facilities in the Permian enabled it to support increasing volumes from upstream operators, enhance crude blending and compression efficiency, and ultimately drive revenue growth and operating leverage as activity scales.
Ballengee said the Permian continues to be the biggest contributor to U.S. crude oil and NGL production, supporting international and domestic energy demand. Consistent drilling, quantities produced, and barrels brought to key markets bolstered its revenues and business model.
Vivakor's infrastructure directly supports its broader strategy to deliver vertically integrated services in one of the world's most productive oil regions. With the Permian accounting for over 40% of total U.S. oil output, Vivakor's expanded operations give it a front-row seat to the sector's next growth cycle.
Price Action: VIVK stock closed lower by 6.14% at $1.07 on Monday.
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This article EXCLUSIVE: Vivakor Bets On Permian Boom With 10 Crude Hubs originally appeared on Benzinga.com
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