Olenox Energy Advances Following Texas Acquisition

Safe & Green Holdings Corp has reported significant progress through its subsidiary, Olenox Energy, after acquiring the Sherman Oil & Gas refinery in Texas. The company has delivered strong initial results, focusing on operational efficiency and robust production figures.

Since the acquisition, Olenox has produced over 3,000 barrels of oil, selling approximately 2,500 barrels. The company is poised to set a record with production rates reaching 55 barrels per day. Operational transitions have reduced lease operating expenses, and a series of strategic workovers are planned to boost daily production by another 25 to 30 barrels.

All equipment has been mobilized to Texas as part of Olenox’s asset integration. Additionally, the company remains compliant with Texas Railroad Commission regulations, aiming to minimize its environmental impact.