On October 20, 2025, Olenox Energy, a wholly‑owned subsidiary of Safe & Green Holdings Corp. (NASDAQ: SGBX), announced that it has begun reviewing several drilling sites on its current oil and gas leases. The announcement marks the first step in an aggressive drilling program slated to start in the fourth quarter of 2025.
The company plans to complete one drilling project in Q4 2025 and then pursue a broader drilling agenda through 2026 and beyond. Olenox CEO Michael McLaren stated the goal of reaching 1,000 barrels of oil equivalent per day by the end of 2026, leveraging legacy wellsite revitalization and new acquisitions.
This move expands SGBX’s energy footprint and supports its broader diversification strategy into oil and gas. By initiating drilling operations, the company aims to generate additional revenue streams and enhance its overall portfolio, potentially improving cash flow and mitigating the company’s current liquidity challenges.
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