- Vivakor (VIVK, Financial) completed a successful 2024 with record contracted revenues, projecting an annual revenue run-rate over $160 million.
- The company closed a $120 million acquisition of Endeavor Entities, significantly enhancing its operational and logistical capabilities.
- Strategic initiatives, including the formation of a new division and pipeline expansions, position Vivakor for continued growth in 2025.
Vivakor, Inc. (VIVK) reported a highly successful 2024, achieving its highest level of contracted revenue in company history. The company's annual projected revenue run-rate exceeded $160 million as it exited 2024. This achievement is largely attributed to the significant strides made in expanding its infrastructure and operational capabilities.
A key highlight of 2024 was the completion of Vivakor's $120 million acquisition of Endeavor Entities. This strategic move expanded Vivakor's operations, including crude oil and produced water trucking, storage, and disposal services under 10-year take-or-pay contracts. The acquisition has transformed Vivakor into a prominent player in the energy infrastructure sector, operating over 165 crude oil transportation units and 105 water transportation trucks across major oil production basins in the United States.
Vivakor also completed the Omega Pipeline System expansion in Blaine County, Oklahoma. The project involved constructing two new gathering lines and was completed ahead of schedule and under budget. This 40-mile crude oil gathering system is integrated with Vivakor's existing operations and provides direct access to the Cushing trading hub, facilitating immediate incremental customer volumes from connected oil production.
In addition, Vivakor successfully conducted factory acceptance tests for its Remediation Processing Center (RPC) in Houston, Texas, a first-of-its-kind facility aimed at processing oil-industry waste. This innovation positions the company to capitalize on sustainable revenue opportunities in the environmental remediation sector.
Looking ahead to 2025, Vivakor anticipates continued growth through organic expansion and strategic acquisitions. The formation of the Vivakor Supply & Trading division is expected to diversify revenue streams and enhance risk management capabilities, further strengthening the company's financial trajectory.
