Proposed Transaction Would Expand Vivakor’s Midstream Infrastructure and Environmental Services Platform in the Permian Basin

Dallas, TX, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Vivakor, Inc. (NASDAQ:VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse and remediation services, today announced that it has entered into a non-binding Indication of Interest ("IOI") regarding the proposed acquisition of 100% of the outstanding membership interests of Direct Midstream, LLC ("Direct Midstream"), a Midland, Texas-based water midstream company providing produced water infrastructure and oilfield waste management services to oil and gas operators in the Permian Basin.

Direct Midstream currently operates seventeen saltwater disposal facilities and nine fresh water and brine stations, with approximately 11.5 million barrels per month of permitted disposal capacity. The company provides an integrated suite of services including Class II UIC saltwater disposal, fresh water and brine supply, oilfield waste management, oil reclamation and recovery, and slop oil processing. Direct Midstream’s facilities utilize automated monitoring technology to provide real-time operational data across its network.

The proposed acquisition would expand Vivakor’s presence in the Permian Basin and add produced water management and oilfield waste infrastructure that is complementary to the Company’s existing transportation, terminaling, Supply & Trading and environmental services businesses. Direct Midstream’s oil recovery, reclamation and waste-management capabilities also align with Vivakor’s Remediation Processing Center ("RPC") strategy of recovering reusable hydrocarbons from oilfield waste streams.

"We believe Direct Midstream represents a compelling opportunity to expand Vivakor’s infrastructure footprint in the Permian Basin and add significant produced water and waste-management capabilities to our platform," said James Ballengee, Chairman, President and Chief Executive Officer of Vivakor. "Direct’s disposal, water management and oil reclamation capabilities are highly complementary to our existing businesses and our broader strategy of building an integrated energy infrastructure and environmental services platform."

"We are excited about the opportunity to work with Vivakor and explore combining Direct Midstream’s Permian Basin infrastructure and operating expertise with Vivakor’s broader energy platform," said Chris Early, President and Chief Executive Officer of Direct Midstream. "We believe our integrated approach to water management, disposal and oilfield waste services provides a strong foundation for continued growth, and that a combination with Vivakor could provide additional resources and opportunities to expand our platform."

The IOI is non-binding, except for certain specified provisions, and the proposed transaction remains subject to further negotiations, due diligence, execution of definitive agreements and satisfaction of applicable closing conditions. There can be no assurance that a definitive agreement will be executed or that the proposed transaction will be completed.

About Direct Midstream, LLC

Direct Midstream LLC is a Midland, Texas-based water midstream company providing produced water infrastructure and oilfield waste management services to oil and gas operators throughout the Permian Basin, with a focus on the Midland Basin. The company provides saltwater disposal, fresh water and brine supply, oilfield waste management, oil reclamation and recovery, and related services.

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.

For more information, please visit our website: www.vivakor.com

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 timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.

These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor or the date of such information in the case of information from persons other than Vivakor, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Investor Contact:

P:469-480-7175

info@vivakor.com