Vivakor Acquisition Target Direct Midstream Reports Definitive Operating Agreements for 52-Well New Mexico Portfolio
Nov 11, 2026, 9:31 AM EST2 sourcesAI-analyzed
Why it may matterVerify against the original reporting
The signed operator agreements and the >$2M annual revenue estimate represent a concrete near-term revenue opportunity for the assets targeted in Vivakor's proposed acquisition, contingent on regulatory approvals and closing of the acquisition; if realized, it would add recurring operating/service revenue to Direct Midstream (and potentially Vivakor upon closing).
AI summary
What happened, with direct paths to the underlying reporting
Direct Midstream finalized definitive operating agreements with Artesia Group and Phoenix Energy Solutions to operate a 52-well New Mexico portfolio and is named contract operator; the firm estimates the opportunity could generate over $2 million in annual service revenue.
Direct Midstream has finalized definitive operating agreements with Artesia Group and Phoenix Energy Solutions covering a 52-well portfolio in New Mexico.
The agreements formalize the conditional arrangement and establish Direct Midstream as the contract operator for Artesia and PES following the anticipated acquisition.
The portfolio consists of 44 oil production wells and eight saltwater disposal wells, subject to verification.
Direct Midstream estimates the opportunity could generate more than $2 million in annual operating and management service revenue at targeted operating levels, subject to final fee arrangements.
Direct Midstream is submitting change-of-operator filings to the New Mexico Oil Conservation Division and will commence operations upon receipt of applicable regulatory approvals, including BLM approval for federal wells.
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