Olenox Industries Shares Positive Field Reports as Production Stabilizes

Finviz2026/03/04 13:48

By:Finviz

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Wichita County, Texas, field expected to quickly meet or exceed BOE/day target

CONROE, Texas, March 04, 2026 (GLOBE NEWSWIRE) -- via IBN -- Olenox Industries Inc. (NASDAQ: OLOX) (“Olenox” or the “Company”), a multifaceted energy company, today announces the Company’s well revitalization efforts are achieving success and hitting production targets. Going forward, the Company plans to bring additional wells into production on a weekly basis.

Since December 2025, the Company has successfully revitalized 10 wells, with 25 more expected to be online by the end of the first quarter. Olenox deployed a dedicated rig in its Wichita field in December 2025, and the Company is pleased with the results in the few months since deployment, according to Olenox CEO Michael McLaren.

“We are pleased with the progress of our workovers and revitalization in our Wichita field. Production has stabilized and our original target of 70 barrels a day is in clear sight,” McLaren said. “We hope to hit or exceed this target by month’s end.”

Since Q4 2025 and continuing into 2026, Olenox has been concentrating on revitalizing its wells with a focus on adding more production each week.

“As we continue our workover effort and drilling, we anticipate this field to outperform our previous expectations,” McLaren added.

Combined with the Company’s drilling program, Olenox will continue to revitalize its wells while looking at new acquisitions to add production. The Company is currently evaluating over 6,000 acres as potential acquisition targets, which hold vast potential for workovers and drilling prospects.

About Olenox Industries Inc.

Olenox Industries Inc. (Nasdaq: OLOX), formerly known as Safe & Green Holdings Corp. (SGBX), is an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality modular and containerized systems designed for rapid deployment and long-term performance.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget•2026/11/02 08:28