Safe & Green Holdings Corp. Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases

Reuters

05-29

Safe & Green Holdings Corp. Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases

Safe & Green Holdings Corp. $(SGBX)$ has announced the acquisition of certain assets from Sherman Oil Company, LLC and its affiliates, amounting to 1,600 acres of oil wells and leases. This acquisition is set to significantly broaden Safe & Green's oil production capabilities. With the newly acquired assets currently producing an average of 45 barrels of oil per day, the company plans to utilize its Olenox technology to enhance production. Mike McLaren, Chairman and CEO of Safe and Green Holdings, stated that the company aims to increase production to over 75 barrels per day within the next four months through well revitalization efforts. This strategic move is part of Safe & Green's ongoing efforts to grow as a diversified oil producer.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Safe & Green Holdings Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-048548), on May 29, 2025, and is solely responsible for the information contained therein.

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Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Safe &amp; Green Holdings Corp. Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Safe &amp; Green Holdings Corp. <a href=\"https://laohu8.com/S/SGBX\">$(SGBX)$</a> has announced the acquisition of certain assets from Sherman Oil Company, LLC and its affiliates, amounting to 1,600 acres of oil wells and leases. This acquisition is set to significantly broaden Safe &amp; Green's oil production capabilities. 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Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-05-29 21:25</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Safe &amp; Green Holdings Corp. Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Safe &amp; Green Holdings Corp. <a href=\"https://laohu8.com/S/SGBX\">$(SGBX)$</a> has announced the acquisition of certain assets from Sherman Oil Company, LLC and its affiliates, amounting to 1,600 acres of oil wells and leases. This acquisition is set to significantly broaden Safe &amp; Green's oil production capabilities. With the newly acquired assets currently producing an average of 45 barrels of oil per day, the company plans to utilize its Olenox technology to enhance production. Mike McLaren, Chairman and CEO of Safe and Green Holdings, stated that the company aims to increase production to over 75 barrels per day within the next four months through well revitalization efforts. 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ID: 0001213900-25-048548), on May 29, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SGBX","symbol_name":"Safe & Green","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250529:nNDL1nNqmX:1","article_id":"2539263069","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2539263069","pubTimestamp":1748525142,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Safe & Green Holdings Corp.  has announced the acquisition of certain assets from Sherman Oil Company, LLC and its affiliates, amounting to 1,600 acres of oil wells and leases. 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Expands Oil Production with Acquisition of 1,600 Acres of Wells and Leases\n    \n\n        Safe & Green Holdings Corp. $(SGBX)$ has announced the acquisition of certain assets from Sherman Oil Company, LLC and its affiliates, amounting to 1,600 acres of oil wells and leases. This acquisition is set to significantly broaden Safe & Green's oil production capabilities. With the newly acquired assets currently producing an average of 45 barrels of oil per day, the company plans to utilize its Olenox technology to enhance production. Mike McLaren, Chairman and CEO of Safe and Green Holdings, stated that the company aims to increase production to over 75 barrels per day within the next four months through well revitalization efforts. This strategic move is part of Safe & Green's ongoing efforts to grow as a diversified oil producer.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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