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 NASDAQ-listed 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. This production target represents significant growth ambitions within the energy sector and demonstrates the company's commitment to expanding its energy portfolio.
The drilling review represents a critical step in Olenox's operational strategy to increase production capacity. 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.
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 SGBX are available in the company's newsroom.
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Olenox's drilling review and subsequent development plans represent a strategic expansion of Safe & Green Holdings' energy operations. The combination of new drilling projects with legacy asset optimization and potential acquisitions provides multiple pathways to achieve production goals while maintaining operational flexibility in response to market conditions and development opportunities. This approach could potentially enhance the company's competitive position in the energy sector while diversifying revenue streams beyond its core modular construction business.
