Safe & Green Holdings Subsidiary Olenox Launches Drilling Review to Meet 2026 Production Targets

Safe & Green Holdings Corp. (NASDAQ: SGBX) announced that its wholly owned subsidiary Olenox Corp. has commenced reviewing multiple drilling sites across its existing oil and gas leases as part of an ambitious production expansion strategy. The energy development arm of SGBX plans to complete its first drilling project in the fourth quarter of 2025, followed by an expanded drilling program continuing through 2026 and beyond.

CEO Michael McLaren outlined the company's production targets, stating that Olenox aims to reach 1,000 barrels of oil equivalent per day by the end of 2026. This production goal will be achieved through a three-pronged approach combining new drilling operations, revitalization of legacy wellsites, and strategic acquisitions. The announcement signals a significant ramp-up in the company's energy development activities and represents a major commitment to expanding its oil and gas production capabilities.

The drilling review initiative comes as energy companies worldwide are balancing production expansion with increasing environmental and regulatory pressures. Olenox's approach of combining new drilling with legacy site revitalization suggests a focus on maximizing existing assets while carefully selecting new drilling locations. This strategy could potentially reduce environmental impact compared to entirely new field development while optimizing production efficiency from established lease areas.

For investors and industry observers, the announcement provides important insight into Safe & Green Holdings' strategic direction and growth timeline. The specific production target of 1,000 barrels of oil equivalent per day by year-end 2026 establishes clear metrics for measuring the company's progress in the coming years. The detailed timeline, with initial drilling completion scheduled for Q4 2025, provides stakeholders with specific milestones to monitor.

The company's news and updates relating to SGBX are available in its newsroom at https://ibn.fm/SGBX, while the full press release can be accessed at https://ibn.fm/t1QTs. These resources offer additional context for investors seeking to understand the company's broader strategic initiatives beyond the Olenox drilling program announcement.

This development represents a significant step in Safe & Green Holdings' energy sector expansion and could have implications for the company's financial performance, stock valuation, and competitive positioning within the modular solutions and energy development markets. The success of Olenox's drilling program will likely influence investor confidence in the company's ability to execute its growth strategy and meet its stated production targets.