Safe & Green Holdings Provides Update on Olenox Progress Following Sherman Oil & Gas Acquisition in Texas
Safe & Green Holdings (NASDAQ:SGBX) has reported significant progress through its subsidiary Olenox Energy following the Sherman Oil & Gas refinery assets acquisition in Texas. The company has demonstrated strong operational performance, producing over 3,000 barrels of oil and selling more than 2,500 barrels to date.
Key achievements include reaching peak production rates of 55 bpd, reducing lease operating expenses through in-house operations, and planning strategic workovers expected to add 25-30 bpd of additional production. The company has successfully mobilized equipment assets to Texas and maintains full compliance with the Texas Railroad Commission while focusing on environmental responsibility.
Safe & Green Holdings (NASDAQ:SGBX), tramite la sua controllata Olenox Energy, ha registrato progressi significativi dopo l'acquisizione degli asset della raffineria Sherman Oil & Gas in Texas. La società ha mostrato solide performance operative, con una produzione superiore a 3.000 barili di petrolio e vendite che hanno superato i 2.500 barili fino ad oggi.
Tra i risultati principali: picchi di produzione fino a 55 bpd, riduzione delle spese operative dei contratti grazie alla gestione interna, e piani per workover strategici che dovrebbero aggiungere altri 25-30 bpd di produzione. L'azienda ha inoltre trasferito con successo le attrezzature in Texas e opera in piena conformità con la Texas Railroad Commission, mantenendo attenzione alle responsabilità ambientali.
Safe & Green Holdings (NASDAQ:SGBX), a través de su filial Olenox Energy, ha informado de avances significativos tras la adquisición de los activos de la refinería Sherman Oil & Gas en Texas. La compañía ha mostrado un sólido desempeño operativo, produciendo más de 3.000 barriles de petróleo y vendiendo más de 2.500 barriles hasta la fecha.
Logros clave incluyen picos de producción de 55 bpd, reducción de los gastos operativos de las concesiones mediante operaciones internas, y la planificación de intervenciones estratégicas (workovers) que se espera añadan 25-30 bpd adicionales. La empresa ha movilizado con éxito equipos a Texas y cumple totalmente con la Texas Railroad Commission, manteniendo el foco en la responsabilidad ambiental.
Safe & Green Holdings (NASDAQ:SGBX)는 자회사 Olenox Energy를 통해 텍사스의 Sherman Oil & Gas 정유 자산 인수 이후 상당한 진전을 보고했습니다. 회사는 강력한 운영 성과를 보이며 현재까지 3,000배럴 이상의 원유를 생산하고 2,500배럴 이상을 판매했습니다.
주요 성과로는 최고 생산률 55 bpd 달성, 내부 운영을 통한 임대 운영비 절감, 전략적 워크오버 계획으로 25-30 bpd 추가 생산이 기대되는 점 등이 있습니다. 또한 장비를 텍사스로 성공적으로 이동시켰고 텍사스 철도위원회(Texas Railroad Commission)의 규정을 완전 준수하면서 환경 책임에도 주력하고 있습니다.
Safe & Green Holdings (NASDAQ:SGBX), via sa filiale Olenox Energy, a réalisé des progrès significatifs après l'acquisition des actifs de la raffinerie Sherman Oil & Gas au Texas. La société affiche de solides performances opérationnelles, ayant produit plus de 3 000 barils de pétrole et vendu plus de 2 500 barils à ce jour.
Parmi les principaux faits d'armes : des pics de production atteignant 55 bpd, une réduction des frais d'exploitation des baux grâce à une gestion en interne, et la planification de travaux stratégiques (workovers) qui devraient ajouter 25–30 bpd supplémentaires. L'entreprise a mobilisé avec succès des équipements au Texas et se conforme pleinement à la Texas Railroad Commission, tout en mettant l'accent sur la responsabilité environnementale.
Safe & Green Holdings (NASDAQ:SGBX) hat über seine Tochtergesellschaft Olenox Energy nach dem Erwerb der Raffinerie-Assets von Sherman Oil & Gas in Texas erhebliche Fortschritte erzielt. Das Unternehmen verzeichnet starke operative Leistungen und hat bislang über 3.000 Barrel Öl produziert und mehr als 2.500 Barrel verkauft.
Wesentliche Erfolge sind Spitzenproduktionsraten von 55 bpd, die Senkung der Betriebsaufwendungen durch interne Durchführung und geplante strategische Workovers, die voraussichtlich zusätzliche 25–30 bpd bringen werden. Das Unternehmen hat Ausrüstungsbestände erfolgreich nach Texas verlagert und hält die Vorgaben der Texas Railroad Commission vollständig ein, wobei es auf ökologische Verantwortung achtet.
- Production of over 3,000 barrels of oil with 2,500 barrels sold to date
- Peak production rates reaching 55 barrels per day
- Reduction in lease operating expenses (LOE) through operational streamlining
- Planned workovers expected to add 25-30 barrels per day of production
- Successful equipment asset integration and regulatory compliance
- Significant portion of produced oil (approximately 500 barrels) remains unsold
- Integration and implementation of equipment assets still ongoing
Insights
SGBX's Olenox subsidiary shows promising early performance from Sherman Oil & Gas acquisition with production of 3,000 barrels and operational improvements.
Safe & Green Holdings' Olenox Energy subsidiary has demonstrated strong early results following its acquisition of Sherman Oil & Gas refinery assets in Texas. The subsidiary has produced over 3,000 barrels of oil and sold more than 2,500 barrels since the acquisition. Current production is reaching peak rates of
The operational results are particularly noteworthy. By successfully transitioning operations in-house, Olenox has managed to reduce its lease operating expenses (LOE), which directly impacts profitability. This type of cost efficiency is critical in the oil and gas sector where margins can be significantly affected by operational overhead.
Looking ahead, Olenox has outlined clear growth plans centered around strategic workovers on select leases. These targeted interventions aim to increase production by an additional 25-30 bpd, which would represent a
While the production figures mentioned are modest by industry standards, they represent meaningful progress for a newly acquired asset. The focus on regulatory compliance with the Texas Railroad Commission alongside environmental footprint reduction demonstrates a balanced operational approach that addresses both production goals and sustainability concerns - increasingly important factors for energy companies facing tighter regulatory scrutiny and investor ESG demands.
Demonstrating strong early production, operational efficiencies, and expansion plans
MIAMI, FLORIDA / ACCESS Newswire / September 5, 2025 / Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green" or the "Company"), today provided an update on the progress achieved by its subsidiary, Olenox Energy, following the purchase of the Sherman Oil & Gas refinery assets in Texas.
Since the acquisition, Olenox has executed by demonstrating operational efficiency, increased production, and a clear strategy for growth.
Key Milestones Since Acquisition:
Strong Production - Olenox has produced more than 3,000 barrels of oil, selling over 2,500 barrels to date. The Company is currently on pace to achieve a record production month, reaching peak rates of 55bpd.
Operational Streamlining -The team has successfully transitioned operations in-house, reducing overall lease operating expenses (LOE).
Strategic Workovers - Olenox is actively planning a series of workovers on select leases, with the goal of bringing an additional 25 to 30 barrels per day (bpd) of production online.
Asset Integration - All equipment assets have been mobilized to Texas and are being implemented into the field unit by unit.
Regulatory & Environmental Commitment - Olenox remains fully compliant with the Texas Railroad Commission and continues to focus on reducing its environmental footprint across existing leases.
"The Sherman Oil & Gas acquisition is proving to be a pivotal step forward for Safe & Green Holdings as we expand our footprint into the energy sector through Olenox," commented Mike Mclaren, CEO of Safe & Green Holdings. "Early production results, combined with operational improvements and effectively executing, position Olenox for sustained growth while aligning with our long-term vision to build value for our shareholders.
Safe & Green Holdings remains committed to supporting Olenox as it drives expansion within the U.S. energy sector, complementing the Company's diversified portfolio.
About Safe & Green Holdings
Safe & Green Holdings (NASDAQ:SGBX) is a diversified holding company engaged in innovative solutions across multiple sectors, including real estate, construction, healthcare, and energy. Through its subsidiaries, the Company leverages expertise and resources to create long-term value for its shareholders while maintaining a commitment to sustainability and regulatory compliance For more information, please visit www.safeandgreenholdings.com
About Olenox Energy
Olenox Energy, a subsidiary of Safe & Green Holdings, is focused on responsible energy production and development in the U.S. Leveraging advanced equipment, operational expertise, and a commitment to environmental stewardship, Olenox is positioned to deliver efficient and sustainable growth in the oil and gas sector.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Investors:
Investors@safeandgreenholdings.com
SOURCE: Safe & Green Holdings Corp
View the original press release on ACCESS Newswire
FAQ
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