Vivakor welcomes James Ballengee as its new CEOand Chairman of the Board of Directors.He founded and served as Chairman and Chief Executive Officer of Bridger Group, LLC, a private crude oil marketing firm, from 2010 to 2013. He then managed its successor, Bridger Logistics, LLC from 2013 to 2015, which was sold to Ferrellgas Partners. On August 1, 2022, Vivakor acquired Silver Fuels Delhi, and White Claw Colorado City, LLC for total consideration of $37.4 million from entities affiliated with Mr. Ballengee. The acquisition of SFD and WCCO allows Vivakor to combine the benefits of a midstream oil and gas company with its proprietary, Remediation Processing Centers, providing the Company with the opportunity to capture a significantly greater portion of the oil storage, transportation, and remediation value chain. Under Mr. Ballengee’s leadership, Vivakor intends to continue its ESG focus while seeking opportunities to diversify its products and services via presently existing synergies, developing additional projects or acquiring companies that provide additional opportunities and benefits.
Published first on TheFly
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