Energy transportation company Vivakor Inc. has closed its previously announced acquisition of Endeavor Crude LLC and related companies for $120 million. (Source: Shutterstock)
Energy transportation company Vivakor Inc. has closed its previously announced acquisition of Endeavor Crude LLC and related companies for $120 million, Vivakor said Oct. 7.
Endeavor and the related companies Meridian Equipment Leasing LLC, Equipment Transport LLC and Silver Fuels Processing LLC have a series of long-term strategic partnerships with customers in the Permian Basin, Eagle Ford Shale and the Oklahoma STACK play.
The companies own and operate one of the largest combined oilfield trucking fleets in the continental U.S. Endeavor transports crude oil, petroleum products and produced water through a fully integrated network of station, terminal and pipeline facilities for blending, processing, reuse and remediation.
James Ballengee, Vivakor chairman, president and CEO said the closing of the Endeavor entities was a “significant undertaking, with multiple business lines spanning over six months in the making, culminating in Vivakor now owning one of the largest combined fleets of oilfield services in the continental United States.”
Ballengee said the integration and consolidation of Endeavor’s operations creates immediate value within the company’s financial framework by delivering sustainable accretion to earnings “that will result in increased shareholder value over time."
Recommended Reading
Hess Corp. Bucks E&P Trend, Grows Bakken Production by 7%
2025-01-29 - Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
Matador Appoints Paul W. Harvey to Board
2025-01-29 - Harvey holds over 40 years of investment experience and is currently the private wealth adviser at Dallas-based Vaquero Private Wealth.
Haslam Family Office: ‘We Need Hydrocarbons’
2025-01-29 - The managing director of HF Capital—the office for Tennessee's Haslam family—says that as long as oil, gas and other energy sources are lacking capital, there’s an investment opportunity.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.