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SGBX Subsidiary Olenox Energy Announces an Aggressive Drilling Agenda Slated to Begin Q4 2025 and Expand Throughout 2026
Globenewswireยท 2025-10-20 12:30
Core Insights - Olenox Corp, a subsidiary of Safe & Green Holdings Corp, has initiated the review of multiple drilling sites within its oil and gas portfolio [1][2] - The company plans to implement an aggressive drilling program, targeting the completion of one drilling project in Q4 2025, with further plans for 2026 and beyond [2][3] - Olenox aims to achieve a production goal of 1,000 barrels of oil equivalent (BOE) per day by the end of 2026 through legacy wellsite revitalization, drilling, and acquisitions [3] Company Overview - Olenox Corp operates as a vertically integrated energy company with three divisions: Oil and Gas, Energy Services, and Energy Technologies [5] - The company focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma, while enhancing field operations with specialized services and proprietary technologies [5] - Olenox's integrated model is designed to drive efficiency, increase production, and unlock value across the energy lifecycle, positioning the company to capitalize on opportunities often overlooked by traditional operators [5] Future Outlook - The CEO of Olenox Corp expressed optimism about the company's future, highlighting the expected increase in oil production and a focus on container builds for manufacturing [4]