Safe & Green Holdings Corp. has announced that its wholly owned subsidiary Olenox Corp. has commenced reviewing several drilling sites across its existing oil and gas leases. As the energy development division of the company, Olenox intends to complete one drilling project in the fourth quarter of 2025 and implement an expanded drilling program throughout 2026 and beyond. CEO Michael McLaren stated the company's objective is to reach 1,000 barrels of oil equivalent per day by year-end 2026 through a combination of new drilling operations, legacy wellsite revitalization efforts, and strategic acquisitions.
The drilling review represents a significant step in Olenox's operational strategy to increase production capacity and expand its energy portfolio. The company's approach combines multiple development methods, including new drilling initiatives alongside the optimization of existing assets through legacy well revitalization. This diversified strategy aims to maximize production efficiency while managing operational risks associated with energy development projects. The combination of new drilling projects with legacy asset optimization and potential acquisitions provides multiple pathways to achieve these production goals while maintaining operational flexibility in response to market conditions and development opportunities.
Safe & Green Holdings Corp. operates as a modular solutions company with core capabilities in the development, design, and fabrication of modular structures. The company supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. The latest corporate developments and updates relating to the company are available in the company's newsroom at https://ibn.fm/SGBX.
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Olenox's drilling review and subsequent development plans represent a strategic expansion of Safe & Green Holdings' energy operations. The company's target of 1,000 barrels of oil equivalent per day by 2026 indicates substantial growth ambitions within the energy sector. This expansion initiative demonstrates the company's commitment to scaling its energy production capabilities while leveraging its existing assets and infrastructure to drive operational efficiency and production growth.
