Vivakor's Annualized Contracted Revenue Surpasses $323M with New Permian Basin Crude Oil Deal
VIVK is trading near its 52-week low of $0.45 (2.2% above the low) on elevated volume (35× avg).
Summary
Vivakor announced its total annualized contracted revenue now exceeds $323 million, driven by a new Permian Basin crude oil transaction. This follows recent announcements of a $108 million contract on June 8th and a $115 million Bakken crude oil transaction on June 17th. This massive revenue figure is highly significant for a company with a market capitalization of approximately $2.2 million, which has been facing severe financial distress and a going concern warning. The new contracts could provide a critical path to financial stability.
At the time of this announcement, VIVK was trading at $0.46 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $2.2M. The 52-week trading range was $0.45 to $260.00. This news item was assessed with positive market sentiment and an importance score of 10 out of 10. Source: Dow Jones Newswires.