- The energy company plans to begin servicing its own wells and market rigs and service equipment to third-party operators.
- CEO Michael McLaren says the operational restart of the Oil and Gas (“O&G”) service division will reduce maintenance and workover costs.
- Olenox’s proprietary downhole technologies, including plasma pulse and ultrasonic cleaning tools, will play a central role in the expanded service offering.
- Safe & Green expects to reach cash-flow positivity in 2026, supported in part by recurring revenue from third-party well services.
- The company’s energy strategy aligns with ongoing U.S. policy goals focused on strengthening domestic energy production and operational independence.
Safe & Green Holdings (NASDAQ: SGBX), a diversified holding company, said its energy subsidiary Olenox Corp. has received its U.S. Department of Transportation (“DOT”) number and is preparing to mobilize its service division assets. The approval marks a procedural but necessary step for the company as it restarts its oilfield services operations and expands service capacity across its portfolio of wells (https://ibn.fm/Ncnk5).
With the DOT number in place, Olenox can begin transporting rigs, downhole tools, and other heavy equipment essential to field operations. Safe & Green said it will resume servicing its own wells and build a sales team to offer those same services to external operators. According to the company, expanding…
NOTE TO INVESTORS: The latest news and updates relating to SGBX are available in the company’s newsroom at https://ibn.fm/SGBX
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