Vivakor, Inc. 10-K

Item 1 - Business General Vivakor, Inc. was originally organized in 2006 as a Nevada limited liability company and converted to a Nevada corporation in 2008. Since then, we have grown through strategic acquisitions and the development of our integrated midstream platform, which provides crude oil transportation, terminaling, and marketing services across major U.S. producing basins. Key milestones include the 2022 acquisition of our terminaling facilities in Colorado City, Texas and Delhi, Louisiana, and the 2024 acquisition of our trucking, pipeline, and storage operations (hereinafter the “Endeavor Entities”). We have also developed Remediation Processing Centers (“RPCs”) capable of recovering hydrocarbons from oil-contaminated materials, with prior trials in Kuwait achieving Category A approval under the United Nations-funded Kuwait Environmental Remediation Project. Today, we operate through a network of wholly-owned and majority-owned subsidiaries, enabling integrated management of our transportation, facilities, marketing, and remediation businesses while supporting ongoing growth and operational efficiency. We currently operate across three business segments that together provide integrated midstream services related to the transfer, storage and trading of oil and constituent products, namely: (i) crude oil transportation, (ii) terminaling and storage facility services, and (iii) marketing and trading. We expect to begin operations in a fourth segment, remediation services, which remains under development and is expected to commence operations in the first quarter of 2026. Our transportation and facility operations form the foundation of our business, while our marketing and trading activities focus on the buying and selling of oil and oil-related commodities with the goal of expanding market opportunities and diversifying revenue streams. The remediation segment, once operational, is expected to further extend our service offerings by providing treatment and recycling solutions for oilfield waste and related materials. Our crude oil transportation segment includes both trucking and pipeline operations. We transport crude oil and constituent products, including crude oil waste streams, using a trucking fleet and pipeline infrastructure serving Colorado’s DJ Basin, Central Oklahoma’s STACK play, and the Permian and Eagle Ford Basins of Texas, which are among the most active oil and gas producing regions in the United States. We also operate the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, connected to the Plains/P66 STACK Pipeline and the Cushing, Oklahoma storage hub. Our transportation services provide producers with immediate, scalable transportation solutions and deliver oil to facilities where off-spec grades and waste streams can be blended. Our terminaling and storage facilities segment owns and operates ten crude oil pipeline injection truck stations and two major terminaling facilities strategically located at key pipeline junctions. Our Colorado City, Texas terminal is supported by a 10-year contract with a minimum 100,000-barrel-per-month volume commitment. Our CP Omega terminal, linked by a 42-mile company-owned pipeline, connects to the Plains/P66 STACK Pipeline and the Cushing hub. In addition, our Delhi, Louisiana terminal is backed by a contract with Denbury Onshore, LLC (a subsidiary of ExxonMobil Corporation) for the sale of 60,000 net barrels per month. These facilities provide direct access to multiple demand centers and offer our producers consistent, secured pipeline capacity to transport production efficiently to end markets. Our marketing and trading division manages the purchase, sale, and distribution of commodities, primarily crude oil, condensate, natural gas liquids, and refined or processed oil products such as atmospheric tank bottoms, naphtha, and other light hydrocarbons. In addition, oil recovered from tank bottoms and other hydrocarbon-bearing materials processed at our Remediation Processing Center (“RPC”), which is included within our remediation segment, is expected to be marketed and sold once operational. These activities further leverage our transportation and facility network to capture value across the energy supply chain. By integrating marketing, logistics and remediation with our core transportation and terminaling operations, we seek to maximize asset utilization, expand revenue opportunities, and provide producers with comprehensive midstream solutions from production through end markets. 1 Our remediation segment will include the RPC being developed at the San Jacinto River & Rail Park in Harris County, Texas, which is expected to complete commissioning in the first quarter of 2026. The RPC is designed to process up to 800 tons per day of oilfield waste, tank bottoms, vessel residues, and contaminated soils from spills. The facility will also include an adjacent truck wash station that is expected to provide certified cleanouts, creating an additional revenue stream. Beyond the RPC, this segment is intended to support additional domestic waste treatment and recycling initiatives, further extending our capabilities and enhancing the sustainability of our integrated midstream platform by reducing environmental impact and promoting responsible resource management. Our website is www.vivakor.com . Principal Services Crude Oil Transportation Segment We operate one of the largest independent midstream truck fleets in North America and maintain a diversified portfolio of complementary assets and facilities. This segment gathers, transports, and purchases crude oil, condensate, NGLs, and oil byproducts across the Permian Basin, Eagle Ford Shale, and the Anadarko Basin’s STACK Play. Our operations form the foundation of our integrated midstream platform, enabling efficient movement of production to downstream markets. Our 45-mile Omega Gathering Pipeline connects the Plains/P66 STACK Pipeline to the Cushing, Oklahoma storage hub, creating a scalable link between regional production and national markets. Our customers include leading producers, marketers, and refiners such as Marathon Oil Company, ConocoPhillips, Phillips 66, BP, Civitas, and Validus. Terminaling and Storage Facilities Segment We operate strategically located gathering stations and terminals within the nation’s most active crude oil producing basins. Our portfolio includes ten crude oil pipeline injection truck stations, primarily in the Permian Basin, and two major terminaling facilities. These assets provide direct access to multiple demand centers and support producers with reliable takeaway capacity. Our facilities are supported by long-term commercial agreements, including minimum volume commitments and take-or-pay arrangements, which provide visibility into throughput and cash flows. ● Colorado City, Texas Facility – Underpinned by a long-term “take-or-pay” agreement requiring a minimum of 100,000 barrels per month through 2031, with Jorgan Development, LLC, a related party affiliated with our Chairman, President, and Chief Executive Officer, James Ballengee. ● Delhi, Louisiana Facility – Supported by minimum-volume and resale-margin commitments under agreements with third parties. ● CP Omega Terminal – A 42-mile pipeline-connected terminal linked to the Plains/P66 STACK Pipeline and the Cushing hub, offering fee-based transportation and terminaling services under long-term producer contracts. Marketing and Trading Segment Launched in August 2024, our Marketing and Trading segment manages the purchase, marketing, and resale of commodities, namely, crude oil, condensate, natural gas liquids (NGLs), and refined products such as atmospheric tank bottoms and naphtha. This segment operates as part of our integrated midstream platform, utilizing our transportation and terminaling network in Texas, Oklahoma, and Louisiana to facilitate efficient product movement and optimize market access. We generally purchase hydrocarbons from producers and counterparties at market-based index prices, less transportation and marketing fees, and resell them under contract to refiners and end users. We expect this segment to market oil recovered from tank bottoms and other hydrocarbon-bearing materials processed at our Remediation Processing Center (“RPC”), once the facility becomes operational. By integrating marketing and logistics with our core operations, we enhance asset utilization and seek to improve margins, and expand our service offerings to producers and refiners across the value chain. 2 Remediation Processing Segment Our Remediation Processing Center (“RPC”), located at the San Jacinto River & Rail Park in Harris County, Texas, is expected to begin operations in the first quarter of 2026. We expect this facility to process up to 800 tons per day of oilfield waste, tank bottoms, and contaminated soils, recover valuable hydrocarbons for resale through our marketing division, and include a truck and container washout station to generate additional revenue. The RPC and associated equipment are financed under Master Agreement No. 1462 with Maxus Capital Group, LLC, and are designed to produce saleable byproducts such as condensate, propane, and butane, which we expect will enhance the value of our integrated midstream platform. Market Opportunity and Competitive Position The U.S. midstream sector continues to benefit from sustained crude oil and natural gas liquids production across key basins such as the Permian, Eagle Ford, and Anadarko, which have driven a significant portion of recent U.S. production growth (Source: U.S. Energy Information Administration). This expansion is increasing demand for reliable, flexible, and environmentally responsible transportation, storage, and processing infrastructure. At the same time, evolving regulatory requirements and sustainability initiatives are increasing the importance of hydrocarbon recovery, recycling, and remediation services. Our integrated platform positions us to participate in these market trends. We maintain available transportation and terminaling capacity that allows us to scale with customer volumes and respond to production activity in our operating regions. Our facilities are strategically located near major pipeline systems and demand centers, providing direct market access and competitive delivery options. The planned Remediation Processing Center (“RPC”) is expected to enhance our ability to recover and market hydrocarbons from oilfield waste, further expanding our service offerings. With anchor contracts from established customers such as Jorgan Development, LLC and Validus Energy II Midcon, LLC, we benefit from baseline volumes while retaining flexibility to pursue incremental throughput and storage opportunities. This combination of contractual visibility, available capacity, and geographic reach positions us to pursue additional market opportunities as U.S. production levels remain elevated and environmental standards evolve. By leveraging our integrated network and pursuing selective acquisitions and organic development, we seek to increase utilization, improve margins, and strengthen our competitive position across the midstream value chain. Technologies Our transportation, terminaling, and storage operations do not rely on proprietary technologies. For remediation operations, we own and/or license: ● Two U.S. patents and pending foreign applications for contaminated soil remediation and hydrocarbon recovery. ● Automation software enabling 24/7 remote operation of RPCs. ● A license to upgrade hydrocarbons recovered during remediation. These technologies position us to operate RPCs efficiently and create additional value through recovered hydrocarbons. Competitive Strengths ● Integrated Midstream Platform: Our operations span transportation, terminaling, marketing, and remediation, enabling vertical control and efficiency across the crude-oil value chain. This structure allows us to capture margin at multiple points between the wellhead and refinery; ● Strategic Infrastructure Footprint: Our terminals, injection stations, and pipelines are strategically located near the Permian, STACK, and Eagle Ford Basins, which are among the most active oil-producing regions in the United States, thus, providing producers with reliable takeaway capacity and market access; 3 ● Contracted and Recurring Revenue Base : Long-term agreements, including our 10-year terminal contract in Colorado City, Texas, and our offtake agreement with Denbury Onshore, LLC (a subsidiary of ExxonMobil Corporation), provide predictable revenue and cash-flow visibility; ● Emerging Environmental Solutions: Once completed, we plan for our Remediation Processing Center (RPC) to introduce oilfield-waste recycling and hydrocarbon-recovery capabilities that align with increasing sustainability priorities and regulatory expectations within the energy sector; and ● Proven Acquisition and Expansion Track Record : We have demonstrated a disciplined approach to acquisitions that enhance integration, expand service offerings, and strengthen our position as a diversified midstream operator. Growth Strategies ● Deepen Integration : Maximize utilization of transportation and terminaling assets by further integrating marketing, trucking, and storage operations to increase throughput, improve asset utilization, and enhance margin capture across the value chain. ● Expand Terminaling Connectivity : Increase volumes under long-term contracts, pursue complementary asset acquisitions, and expand connectivity across our network to improve access to key producing regions and end markets. ● Environmental Expansion: Commission initial Remediation Processing Center (“RPC”) operations at our facility near Houston, Texas and evaluate opportunities to develop additional remediation and recycling facilities in strategic locations to expand processing capacity and geographic reach. ● Selective Acquisitions : Pursue strategic acquisitions of complementary midstream and related assets in key producing regions to increase scale, enhance integration, and support long-term growth. ● Asset Optimization and Customer Engagement: Optimize existing assets to drive incremental revenue while maintaining disciplined capital allocation and strengthening customer relationships through integrated service offerings. Other Future Opportunities Our future strategy includes identifying, developing, and acquiring complementary assets and services that enhance our integrated midstream platform. We focus on opportunities that expand our transportation, terminaling, marketing, and remediation capabilities, particularly in key producing regions. The Company seeks to obtain control or significant ownership in such opportunities where it can leverage operational synergies, improve asset utilization, and support long-term growth objectives. Key Transactions Terminals Acquisition (2022) On August 1, 2022, Vivakor acquired all of the membership interests in Silver Fuels Delhi, LLC (“SFD”) and White Claw Colorado City, LLC (“WCCC”), making these entities wholly owned subsidiaries (the “Terminals Acquisition”). The purchase price was approximately $32.9 million, paid in a combination of 3,009,552 shares of common stock, secured three-year promissory notes, and the assumption of certain liabilities. The sellers are beneficially owned by James Ballengee, who subsequently became Vivakor’s Chairman, President, and Chief Executive Officer, and principal shareholder. 4 Endeavor Entities Acquisition (2024) On October 1, 2024, Vivakor acquired all issued and outstanding interests in Endeavor Crude, LLC, Equipment Transport, LLC, Meridian Equipment Leasing, LLC, and Silver Fuels Processing, LLC (collectively, the “Endeavor Entities”), making them wholly owned subsidiaries (the “Endeavor Entities Acquisition”). The total purchase price was $116.3 million, including assumed debt and a performance adjustment, payable through a combination of common stock and Series A Convertible Preferred Stock. These sellers are also beneficially owned by James Ballengee. In connection with this acquisition, Vivakor restructured its corporate operations under Vivakor Operating, LLC (“OpCo”) and Vivakor Administration, LLC (“AdminCo”), which now manage all operational, management, and administrative decisions, consolidating financial results across subsidiaries. MEL/ET Sale (2025) Previously part of the Endeavor Entities, Vivakor’s produced water trucking operations were sold on July 30, 2025 (the “MEL/ET Sale”) for $11,058,235, paid through the cancellation of outstanding shares of Series A Preferred Stock. Certain pre-closing asset and liability transfers were made to comply with debt covenants and ensure continuity of the crude oil-focused business. Post-closing, amendments were made to related Transition Services and Promissory Note agreements to reflect updated operational arrangements. Kuwait RPC Operations Vivakor’s proprietary RPC technology was originally developed to recover hydrocarbons from oil-contaminated waste and was first deployed in Kuwait trials. Vivakor previously planned to deploy two RPCs in Kuwait as part of the United Nations-funded Kuwait Environmental Remediation Project (“KERP”), which was designed to remediate oil-contaminated soil resulting from the Gulf Wars. During initial trials with the Kuwait Oil Company (“KOC”), the RPC process reduced oil content in contaminated soil from levels as high as 18% to as low as 0.02%, resulting in a Category A approval by KOC —the highest classification for remediation performance at that level of contamination. Subsequent subcontractor changes delayed execution, and no definitive agreement with KOC was finalized during 2024. Accordingly, Vivakor recorded impairment charges of approximately $7.0 million related to the Kuwait RPCs and $1.5 million related to an ancillary nanosponge license. Discussions with KOC remain ongoing; however, there can be no assurance that an agreement will be reached or that the Kuwait operations will be initiated. Current Material Subsidiary Structure Corporate & Administrative Operations ● Vivakor Operating, LLC (Texas) ● Vivakor Administration, LLC (Texas) ● Vivakor Midstream, LLC (Texas) ● Empire Energy Acquisition Corp. (Delaware) 5 Transportation Operations ● Vivakor Transportation, LLC (Texas) ● Endeavor Crude, LLC (Texas) ● Gonzales Oilfield Truck & Equipment, LLC (Texas) ● CPE Gathering Midcon, LLC (Delaware) ● ET EmployeeCo, LLC (Delaware) Facilities Operations ● VM Facilities, LLC (Texas) ● Silver Fuels Processing, LLC (Texas) ● Silver Fuels Delhi, LLC (Louisiana) ● White Claw Colorado City, LLC (Texas) ● VivaVentures Remediation Corporation (Texas) Marketing Operations ● Vivakor Supply & Trading, LLC (Texas) Legacy Businesses ● VivaVentures Management Company, Inc. (Nevada) ● International Metals Exchange, LLC (Nevada) ● VivaVentures Royalty II, LLC (Nevada) ● VivaVentures Energy Group, Inc. (Nevada, 99.95% owned) ● VivaVentures Oil Sands, Inc. (Utah) ● Vivakor Company LLC (Qatar, 49% owned) ● Vivakor Middle East, LLC (Qatar, 49% owned) ● RPC Design and Manufacturing, LLC (Utah, non-controlling interest from VivaOpportunity Fund, LLC) ● VivaOpportunity Fund, LLC (Utah) 6 Regulations Affecting our Business Our business is subject to federal, state and local laws, regulations and policies, including laws regulating the removal of natural resources from the ground and the discharge of materials into the environment. These regulations mandate, among other things, the maintenance of air and water quality standards and land reclamation. They also set forth limitations on the generation, transportation, storage and disposal of solid and hazardous waste. Exploration and production activities are also subject to federal, state and local laws and regulations which seek to maintain health and safety standards by regulating the design and use of exploration methods and equipment. Environmental and other legal standards imposed by federal, state or local authorities are constantly evolving, and typically in a manner which will require stricter standards and enforcement, and increased fines and penalties for noncompliance. Such changes may prevent us from conducting planned activities or increase our costs of doing so, which would have material adverse effects on our business. Moreover, compliance with such laws may cause substantial delays or require capital outlays in excess of those anticipated, thus causing an adverse effect on us. Additionally, we may be subject to liability for pollution or other environmental damages that we may not be able to or elect not to insure against due to prohibitive premium costs and other reasons. Unknown environmental hazards may exist at our facilities, or we may acquire properties in the future that have unknown environmental issues caused by previous owners or operators, or that may have occurred naturally. We are subject to actions taken by the federal or state governments, such as executive orders, tariffs on imported goods and commodities, or new or expanded regulations, that may impact future energy production in the U.S. Our business and revenues are also sensitive to changes in laws and regulations (or the interpretation thereof) related to hydraulic fracturing, accessing water, disposing of wastewater, carbon pricing, pipeline construction, taxation or emissions, leasing, permitting or drilling and various other environmental matters. These actions may affect the price or and demand for the transportation, facility, and marketing services we offer. Likewise, any acceleration of the domestic and/or international transition to a low-carbon economy as a result of the Inflation Reduction Act, Pub. L. 117-169, or due to other law, may impact the price of and demand for our services. Failure to comply with applicable federal, state, local or foreign laws or regulations could subject our company to enforcement action, including product seizures, recalls, withdrawal of marketing clearances and civil and criminal penalties, any one or more of which could have a material adverse effect on our company’s businesses. We believe that our company is in substantial compliance with such governmental regulations. Intellectual Property We own four issued US patents and two pending international PCT patent application covering our propriety technology, specifically: ● US Patent 7,282,167 for methods for producing nano-scale particles by vaporizing raw material and then cooling the vaporized raw material using a cooling gas, granted October 16, 2007 and expired July 23, 2025; ● US Patent 9,272,920 for methods for producing ammonia by mixing a first catalyst including a millimeter-sized, granular, ferrous material and a promoter and a second catalyst including discrete nano-sized ferrous catalyst particles that comprise a metallic core with an oxide shell and then reacting hydrogen and nitrogen in the presence of the mixture, granted March 1, 2016 and expiring November 7, 2028; ● US Patent 9,272,920 for methods for producing ammonia by mixing a first catalyst including a millimeter-sized, granular, ferrous material and a promoter and a second catalyst including discrete nano-sized ferrous catalyst particles that comprise a metallic core with an oxide shell and then reacting hydrogen and nitrogen in the presence of the mixture, granted March 1, 2016 and expiring November 7, 2028; 7 ● US Patent 10,913,903 for SYSTEM AND METHOD FOR USING A FLASH EVAPORATOR TO SEPARATE BITUMEN AND HYDROCARBON CONDENSATE granted February 9, 2021 and expiring August 28, 2039; ● US Patent 7,282,167 for US Patent 10,947,456 for SYSTEMS FOR THE EXTRACTION OF BITUMEN FROM OIL SAND MATERIAL granted on March 16, 2021 to expire on December 3, 2038; and ● Pending Kuwait application KW/P/2020/000111 relating to systems and processes for extracting bitumen from oil sands material which employ a centrifuge and a flash evaporator, pending Kuwait application KW/P/2021/00060 and pending Saudi Arabia patent application 521421341, both relating to systems and processes for recycling condensate that is used to extract bitumen from oil sands material by employing a flash distillation drum and a throttle valve that causes the pressure of a mixture of bitumen and condensate to drop as the mixture is sprayed into the flash distillation drum to thereby vaporize the condensate to separate the condensate from the bitumen. Employees As of the date of this Annual Report, we employ approximately 20 people, including our Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, several vice presidents, and approximately 4 administrative and operational support staff, as well as independent contractors. None of our employees are represented by a labor union or covered by a collective bargaining agreement. We have never experienced a work stoppage, and management believes our relations with employees are satisfactory. Summary of Property Through a subsidiary, we currently lease executive office space in Dallas, Texas. We own the following properties through various subsidiaries: ● Approximately 9.4 acres in Richland Parish, Louisiana, underlying our Delhi, Louisiana facility. ● Approximately 7 acres in Scurry County, Texas, underlying our Colorado City, Texas terminal facility. ● Easements and rights of way covering approximately 45 miles related with the Omega Gathering Pipeline. In addition, we lease land or hold access rights for the operation of ten crude oil pipeline injection truck stations in Texas, New Mexico, and North Dakota through an operating subsidiary in our facilities segment. We believe these facilities are in good condition. Another operating subsidiary leases a portion of approximately 58.8 acres of land in Frio County, Texas, used for a truck yard, office, and shop, and we also lease approximately five acres in Ward County, Texas for a truck yard and shop. Harris County, Texas: VRC leased approximately 3.4 acres for the planned installation of RPC equipment under a 126-month term with an option to extend. The landlord terminated VRC’s possession on July 18, 2025, following a default under the lease. We are negotiating to cure the default and reinstate possession. History We were originally organized on November 1, 2006 as a limited liability company in the State of Nevada as Genecular Holdings, LLC. The name was changed to NGI Holdings, LLC on November 3, 2006. On April 30, 2008, we converted to a Nevada corporation and changed our name to Vivakor, Inc. pursuant to Articles of Conversion filed with the Nevada Secretary of State. 8 On August 1, 2022, we acquired all of the issued and outstanding membership interests in each of Silver Fuels Delhi, LLC, a Louisiana limited liability company (“SFD”), White Claw Colorado City, LLC, a Texas limited liability company (“WCCC”) (the “Membership Interests”), making SFD and WCCC wholly-owned subsidiaries. The purchase price for the Membership Interests was approximately $32.9 million, after post-closing adjustments, and was paid to the Sellers in a combination of 15,048 shares of our common stock, par value $0.001 per share valued at an aggregate of $4,287,655, secured three-year promissory notes in the aggregate principal amount of $28,664,284, and the assumption of certain liabilities of SFD and WCCC. The sellers are beneficially owned by our now chairman, chief executive officer and principal shareholder, James Ballengee. On October 1, 2024, we acquired all of the issued and outstanding membership interests in Endeavor Crude, LLC, a Texas limited liability company, Equipment Transport, LLC, a Pennsylvania limited liability company, Meridian Equipment Leasing, LLC, a Texas limited liability company, and Silver Fuels Processing, LLC, a Texas limited liability company (collectively with their subsidiaries, the “Endeavor Entities”), making those entities wholly-owned subsidiaries. The purchase price is $116.3 million (the “Purchase Price”), after post-closing adjustments, including assumed debt and a performance adjustment, payable in a combination of our common stock, $0.001 par value per share (“Common Stock”) and shares of our Series A Preferred Stock $0.001 par value per share (“Preferred Stock”). The Preferred Stock has the payment of a cumulative six percent (6%) annual dividend per share payable quarterly in arrears in shares of Common Stock (so long as such issuances of Common Stock would not result in the Sellers beneficially owning great than 49.99% of the issued and outstanding Common Stock), and the Company having the right to convert the Preferred Stock at any time using the stated value of $1,000 per share of Preferred Stock and the conversion price of one dollar ($1) per share of Common Stock. The sellers are beneficially owned by James Ballengee, our chairman, chief executive officer and principal shareholder. We issued the sellers 33,622 shares of our common stock and 107,789 shares of our Series A Preferred Stock. On February 11, 2025, in order to assist our management in managing our new, combined business operations, we entered into a Consulting Agreement with WSGS, LLC, which has extensive experience in assisting public companies in the energy sector. Under the terms of the Consulting Agreement, we will pay the consultant up to $1.3 million per year, payable in registered shares of our common stock. The Consulting Agreement is for an initial term of one year, with the option for a second year. The principal of WSGS, LLC is also a former officer and director of Empire Diversified Energy, Inc., a Delaware corporation, that Client entered into an Agreement and Plan of Merger (the “Merger Agreement”) with on February 26, 2024, but has not closed, and E-Starts Money Co., a Delaware corporation, which is an investor in our common stock. Previously part of the Endeavor Entities, Vivakor’s produced water trucking operations were sold on July 30, 2025 (the “MEL/ET Sale”) for $11,058,235, paid through the cancellation of outstanding shares of Series A Preferred Stock. Certain pre-closing asset and liability transfers were made to comply with debt covenants and ensure continuity of the crude oil-focused business. Post-closing, amendments were made to related Transition Services and Promissory Note agreements to reflect updated operational arrangements. We have the following direct and indirect wholly-owned or majority-owned active subsidiaries: Endeavor Crude, LLC, a Texas limited liability company (since October 1, 2024), and Silver Fuels Processing, LLC, a Texas limited liability company (since October 1, 2024), CPE Gathering Midcon, LLC, a Delaware limited liability company (since October 1, 2024), ET EmployeeCo, LLC, a Pennsylvania limited liability company (since October 1, 2024, Silver Fuels Delhi, LLC, a Louisiana limited liability company, White Claw Colorado City, LLC, a Texas limited liability company, Vivaventures Remediation Corp., a Texas corporation, Vivaventures Management Company, Inc., a Nevada corporation, Vivaventures Oil Sands, Inc., a Utah corporation, Vivakor Supply & Trading, LLC, a Texas limited liability company, Vivakor Administration, LLC, a Texas limited liability company, Vivakor Midstream, LLC, a Texas limited liability company, Vivakor Operating, LLC, a Texas limited liability company, Vivakor Transportation, LLC, a Texas limited liability company, and VM Facilities, LLC, a Texas limited liability company. We have a 99.95% ownership interest in VivaVentures Energy Group, Inc., a Nevada Corporation; the 0.05% minority interest in VivaVentures Energy Group, Inc. is held by a private investor unaffiliated with us. We also have an approximate 49% ownership interest in Vivakor Middle East Limited Liability Company, a Qatar limited liability company. Vivakor manages and consolidates RPC Design and Manufacturing LLC, which includes a non-controlling interest investment from VivaOpportunity Fund, LLC, which is also managed by VivaVentures Management Company, Inc. 9