SGBX Subsidiary Olenox Energy Announces an Aggressive Drilling Agenda Slated to Begin Q4 2025 and Expand Throughout 2026
News Market Reaction 17 Alerts
On the day this news was published, SGBX gained 4.51%, reflecting a moderate positive market reaction. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. The stock closed at $2.85 on that trading session. This price movement added approximately $66K to the company's valuation, bringing the market cap to $2M at that time.
Data tracked by StockTitan Argus on the day of publication.
Rhea-AI Summary
Olenox (subsidiary of Safe & Green Holdings, NASDAQ: SGBX) has begun initial reviews of drilling sites on leases within its oil and gas portfolio and announced an aggressive drilling program.
The company plans to complete one drilling project in Q4 2025 and roll out an expanded drilling agenda across 2026, aiming to reach an internal production target of 1,000 BOE per day by the end of 2026. Olenox said it will pursue legacy wellsite revitalization, drilling and acquisitions to meet or exceed that goal while expanding its U.S. energy footprint and refocusing manufacturing on container builds.
Positive
- 1 drilling project planned for completion in Q4 2025
- Internal target of 1,000 BOE/day by end of 2026
Negative
- None.
CONROE, Texas, Oct. 20, 2025 (GLOBE NEWSWIRE) -- via IBN – Olenox Corp, a vertically integrated energy company and wholly owned subsidiary of Safe & Green Holdings Corp. (NASDAQ: SGBX), is pleased to announce Olenox has begun the initial review of several drilling sites on current leases held within its oil and gas portfolio.
As the energy development arm of SGBX, Olenox intends to implement an aggressive drilling program with plans to target completion of one drilling project during the fourth quarter of 2025, followed by an ambitious drilling agenda outlined for 2026 and beyond.
“While we are still bringing on legacy production on our leases, the company is committed to generate new production through an aggressive drilling program to meet our internal goal of 1,000 BOE a day by the end of 2026,” said Michael McLaren, CEO of Olenox Corp. “Through legacy wellsite revitalization, drilling and acquisitions, the company will push to meet or exceed these targets by year-end 2026”
Olenox continues to expand its U.S. energy footprint through strategic acquisitions and field revitalization.
“With oil production picking up and the refocusing of our manufacturing on container builds, we look forward to a stellar 2026 for SGBX and its subsidiaries,” McLaren said.
About Olenox Corp
Olenox Corp is a vertically integrated energy company operating across three synergistic divisions—Oil and Gas, Energy Services, and Energy Technologies. The company acquires and optimizes underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma while supporting field operations with specialized well services and proprietary enhanced-recovery technologies. Olenox’s integrated model drives efficiency, increases production, and unlocks value across the energy lifecycle, positioning the company to capture opportunities often overlooked by traditional operators.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.
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 and include statements regarding the plans of the Company and Olenox to review several drilling sites on current leases held within its oil and gas portfolio and to implement an aggressive drilling program to meet its internal goal of 1,000 BOE a day by the end of 2026. 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 successfully review several drilling sites on current leases held within Olenox’s oil and gas portfolio, the Company’s ability to successfully implement an aggressive drilling program, the Company’s ability to meet its internal goal of 1,000 BOE a day by the end of 2026, the effect of government regulation, 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.
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FAQ
What drilling milestone did Olenox announce for Q4 2025 (SGBX)?
What production target did Olenox set for 2026 (SGBX)?
How will Olenox pursue the 1,000 BOE/day goal for SGBX?
Does the Olenox announcement state where drilling will take place for SGBX?
Did Olenox disclose funding or capital plans for the 2026 drilling agenda (SGBX)?
