Vivakor Shares Surge 282% on Recurring Crude Oil Deal Execution

Vivakor (VIVK) shares jumped about 282% Tuesday morning after the company said it executed four recurring physical crude oil purchase and sale transactions through its subsidiary Vivakor Supply & Trading.

The deals involve two commercial counterparties. Vivakor did not name them or disclose the volume or dollar value of the transactions.

Vivakor Supply & Trading runs crude oil marketing and logistics operations in West Texas and southeastern New Mexico, the company said in a statement. The subsidiary was formed earlier this year to source and market crude for producers and refiners in the Permian Basin.

The stock had been trading below $1 before the announcement. At the current price, the move gives Vivakor a market capitalization near $30 million, based on shares outstanding from its most recent filing.