Olenox Industries Inc. (NASDAQ: OLOX) Advances Well Revitalization Program as Production Stabilizes in Texas Fields

• Vertically integrated energy company Olenox has successfully restored 10 oil wells since December 2025, with additional wells scheduled to come online weekly.
• Output from the Wichita County field is nearing the company’s near-term goal of 70 barrels of oil per day.
• Olenox is preparing to relicense its 162-mile pipeline, expected to be operational by the third quarter of 2026.
• Management is evaluating more than 6,000 acres of potential assets that could support additional drilling and workover activity.
• The company aims to reach 1,000 barrels of oil equivalent per day by year-end 2026 through drilling, revitalization, and acquisitions.

Olenox Industries (NASDAQ: OLOX), a vertically integrated energy company, is reporting early operational momentum, with field activity results suggesting the company’s strategy of revitalizing underperforming oil wells may already be translating into measurable production gains, as the company prepares for new drilling.

Recent operational updates indicate that the company’s well revitalization efforts in Wichita County, Texas, are stabilizing output as additional wells return to production. According to a company update released in early March, Olenox has successfully revitalized 10 wells since December 2025 and expects another 25 wells to be brought online before the end of the first quarter. The company deployed a dedicated rig to the field late last year, and management says the results have exceeded initial expectations (https://nnw.fm/yxpqc).

Chief executive officer Michael McLaren said production from the Wichita field is approaching the company’s near-term objective of roughly 70 barrels of oil per day. If current workover progress continues, that level could be reached or surpassed before the end of the month. “As we continue our workover effort and drilling, we anticipate this field to outperform our previous expectations,” McLaren added.

The strategy centers on improving the productivity of existing assets rather than relying solely on new drilling. Workover programs, mechanical or chemical interventions designed to restore production in older wells, can often provide a faster and lower-cost path to incremental output.

Olenox’s workover activity has been paired with a broader operational push that includes new drilling and infrastructure upgrades. The company announced that its 2026 drilling program is now underway, with well locations identified and seismic surveys scheduled to begin this month (https://nnw.fm/zc6Ct).

Under the plan, Olenox intends to drill one well during the current quarter, followed by three additional wells in each of the remaining quarters of 2026. Management believes current oil price trends support the timing of the program.

The drilling initiative is intended to complement the company’s ongoing well-revitalization efforts. Together, those activities form the operational foundation for a broader production growth strategy. Management has outlined a year-end goal of reaching approximately 1,000 barrels of oil equivalent per day.

Infrastructure improvements are also part of the plan. Olenox has completed a survey of its 162-mile pipeline network and is now preparing documentation required to recommission and relicense the system. The company expects the pipeline to be fully operational by the third quarter of 2026.

Bringing the pipeline back into service could provide additional logistical flexibility for transporting production and connecting new wells to market. The pipeline may also create opportunities for acquiring nearby assets that could be integrated into the network.

Alongside field development, Olenox is evaluating potential acquisitions that could expand its production footprint. Management says it is reviewing more than 6,000 acres of prospective properties that may offer opportunities for both workovers and new drilling.

These efforts are taking place within a broader corporate transformation. Olenox Industries was formed following the restructuring and rebranding of Safe & Green Holdings Corp., consolidating several subsidiaries into a unified operating structure.

The new structure combines energy development, oilfield services, industrial technology, and modular infrastructure under a single platform. Within the energy segment, Olenox Corp. oversees exploration and production operations targeting underdeveloped or distressed oil and gas properties in Texas, Oklahoma, and Kansas.

Supporting those activities is an oilfield services division that focuses on well abandonment and environmental reclamation. The company also operates Olenox Technologies, which develops specialized equipment designed to improve well performance, including plasma pulse and ultrasonic cleaning systems.

Management believes integrating production assets, oilfield services, and technology capabilities under one corporate umbrella allows the company to participate across multiple stages of the energy value chain.

For more information, visit the company’s website at www.Olenox.com.

NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at https://nnw.fm/OLOX

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