Safe & Green Holdings Corp. Announces 51% Purchase of Winchester Oil and Gas by Wholly Owned Subsidiary Olenox Corp.
Winchester operates more than 500 wells in Texas with leases centered in Milam and Parker counties. It recently reported production of approximately 50 barrels a day, with peak production reaching 200 barrels in the last four years. It also holds a $250,000 bond, which allows Olenox unlimited well licenses in Texas, which is ideal for expansion while also utilizes cleanup of underperforming properties. Through Olenox, the Company will operate the existing wells and perform reactivation, for which it expects 30-40% to be complete and creating production in the second quarter of 2025.
Michael McLaren, Safe & Green Holdings CEO commented, 'The Winchester acquisition is a prime example of the capability of our subsidiary Olenox to create turnaround utilizing its patented down hole cleaning and stimulation technologies combined with state-of-the-art combo service rigs that reduce the amount of equipment and fuel, resulting in lower servicing costs per well. We believe this investment is an important addition to our holdings and look forward to providing production updates as they develop.
'Further, our Machfu technology allows us to reduce downtime, operator and energy costs with its integrated bidirectional well monitoring systems. Reduced costs mean reduced lifting costs per barrel and in volatile markets allows Olenox to remain profitable even at historically low pricing per barrel,' Mr. McLaren concluded.
About Olenox Corp.
Olenox Corp. is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute 'forward-looking statements' within the meaning of the federal securities laws. Words such as 'may,' 'might,' 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'estimate,' 'continue,' 'predict,' 'forecast,' 'project,' 'plan,' 'intend' or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully integrate Winchester into Olenox's pipeline, the Company's ability to successfully reactivate Winchester's oil wells to increase production, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
516 222 2560
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
43 minutes ago
- Business Insider
‘It's an Easy Call,' Says Top Investor About Palantir Stock
Palantir (NASDAQ:PLTR) stock, like any investment, requires weighing the potential rewards against the risks. While the company continues to perform exceptionally well, the primary – and arguably only – factor giving investors pause is its elevated share price. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. That concern hasn't slowed the stock's momentum. Palantir shares have surged by over 500% in the past 12 months, and late last week, the company reached yet another record high. Its valuation multiples now tower over sector medians by thousands of percentage points, raising questions about whether the fundamentals can keep pace with investor enthusiasm. Next week's Q2 earnings report, scheduled for August 4th, could provide a timely reality check. It offers a critical opportunity for the company to justify its lofty valuation – or fall short of the market's high expectations. Top investor Rick Orford, who's ranked among the top 1% of stock pickers on TipRanks, is leaning toward the former scenario. He anticipates another upswing in PLTR shares following the earnings release, making it an easy call given the current trajectory. 'Should Palantir hit its Q2'25 targets – and with how the wind is blowing, that could happen – I think Palantir shareholders will be pleased. His optimism is rooted in both historical performance and Palantir's current momentum. Historically, the stock has swung an average of 17.5% following earnings – a double-edged sword, but one that Orford believes will cut favorably this time. Central to that belief is the company's AI Platform (AIP), which helped drive a 39% year-over-year revenue increase last quarter. That growth has been especially notable in Palantir's U.S. commercial segment, where AIP adoption led to a 71% revenue spike in Q1. According to Orford, this surge reflects a broader trend: companies across the country are scrambling to implement AI but often lack the in-house expertise. Palantir's AIP provides them with a ready-made solution. 'American enterprises are most likely desperate to implement AI solutions, but not all of them have the technical expertise to do so. With AIP, these enterprises get what they need to implement custom AI into their operations,' the investor explains. Orford also sees Palantir's government work as a key stabilizing force. Its deep ties to the U.S. defense sector – with multi-year, high-margin contracts – offer a steady revenue stream that cushions any slowdown in the private market. 'Palantir checks all the boxes of an exciting, growing company that's at the intersection of two major trends: enterprise AI adoption and national defense modernization,' the investor sums up. 'Analysts say Hold, but history says otherwise.' Unsurprisingly, Orford gives PLTR shares a Strong Buy rating. (To watch Orford's track record, click here) The analyst consensus on PLTR is indeed a Hold, based on 10 Hold ratings, 4 Buys, and 3 Sells. The average 12-month price target stands at $109.50, implying a 31% downside from current levels. (See PLTR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Yahoo
an hour ago
- Yahoo
Alphabet Inc. (GOOGL): 'This Stock Should Be Up Much More,' Says Jim Cramer
We recently published . Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer recently discussed. Cramer regularly discussed tech mega-cap Alphabet Inc. (NASDAQ:GOOGL) ahead of its earnings. The firm's shares have reversed course in July and are up by 1.9% year-to-date, primarily due to July's 9.9% gain. Before the report, Cramer was explicit in sharing that he regretted selling Alphabet Inc. (NASDAQ:GOOGL)'s stock. This time, he discussed the firm's businesses and shared that the stock should be higher after the earnings: [GOOGL]'[On earnings report] Yeah, look cloud was important. I think the big focus is frankly, uh, that paid clicks picked up 4%. I mean I was thinking paid clips might be down, I was worried that I felt that this was the beginning of the erosion and the cannibalization versus Gemini. That was completely wrong. YouTube up 200 million. Really, really fantastic. . . .Look the story here is this that the more chips that they get, better they're doing. They have so much demand I was quite surprised. 20 New Technology Trends for 2024 'This stock should be up much more than that. While we acknowledge the potential of GOOGL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Business Insider
2 hours ago
- Business Insider
Alibaba (BABA) vs. Amazon (AMZN): Which E-Commerce Stock Has More Upside Ahead of Q2 Earnings?
The second-quarter earnings season is in full swing, and investors are closely watching global e-commerce leaders like Amazon (AMZN) and Alibaba (BABA) to assess the strength of consumer demand, the outlook for digital retail, and their growing role in artificial intelligence. Using TipRanks' Stock Comparison Tool, we will compare these two tech-powerhouse stocks to find the better pick ahead of the upcoming earnings results, according to Wall Street analysts. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Alibaba (NYSE:BABA) Stock Alibaba is China's largest e-commerce and cloud services company, operating platforms like Taobao, Tmall, and AliCloud. The stock has climbed over 39% so far this year, driven by strong gains in its AI-powered cloud services and growing demand for instant delivery. The company is doubling down on artificial intelligence, aiming to use it to transform online shopping and cloud services. It is using AI across its apps and cloud platform to improve customer experience and stay ahead of the competition. Looking ahead, the company is set to report its Q1 FY26 earnings next month. Wall Street expects Alibaba to report earnings of $2.22 per share for Q1, down 3% from the year-ago quarter. The decline could be due to the company's heavy investment in logistics and delivery. Meanwhile, analysts project Q1 revenues at $35.46 billion, up 6% year-over-year. Is Alibaba Stock a Good Buy Right Now? Ahead of the Q1 results, Benchmark's Top analyst Fawne Jiang reiterated her Buy rating with a $176 price target, implying a 47% gain from current levels. The analyst sees recent share weakness as a 'buying opportunity' and encourages investors to 'build exposure on dips,' confident in Alibaba's strong long-term growth outlook. Nevertheless, she expects Alibaba's margins and profits to come under pressure in the near term due to increased spending. As a result, Benchmark has cut its EBITDA forecast to RMB44 billion for Q1 FY26 and RMB208 billion for the full FY26, 'reflecting near-term margin pressure.' Overall, Wall Street has a Strong Buy consensus rating on Alibaba stock based on 14 Buys and one Hold rating. The average Alibaba price target of $151.08 implies about 26% upside potential from current levels. Amazon (NASDAQ:AMZN) Stock E-commerce and cloud computing giant Amazon is proving the resilience of its business model despite macro challenges and tariff woes. The stock has climbed over 5% so far this year. Several analysts remain bullish on Amazon's high-margin cloud unit, Amazon Web Services (AWS), which is expected to benefit from growing AI demand. In Q1 2025, AWS accounted for just 19% of revenue but delivered an impressive 63% of total operating profit. Meanwhile, Amazon's fast-expanding advertising segment is also emerging as a key growth engine. Looking ahead, Amazon is scheduled to announce its second-quarter results on July 31. Wall Street projects a 9% growth in Amazon's revenue to $162 million. Meanwhile, analysts expect the company to report earnings per share of $1.32 compared to $1.26 in the prior-year quarter. Is Amazon a Buy, Hold, or Sell? Ahead of the Q2 print, BofA Securities analyst Justin Post raised his price target to $265, up from $248, while maintaining a Buy rating. Post expects Amazon's Q2 retail performance to be strong, helped by positive credit card spending data and an extended Prime Day. He also believes AWS is picking up pace, with a strong order backlog and rising cloud demand. The analyst now predicts Q2 revenue of $164 billion, above Wall Street's estimate of $162.1 billion. Turning to Wall Street, AMZN stock has a Strong Buy consensus rating based on 44 Buys and one Hold assigned in the last three months. At $258.27, the average Amazon stock price target implies an 11.59% upside potential. Conclusion Ahead of earnings, Wall Street remains bullish on both Alibaba and Amazon stocks. However, analysts see greater upside potential in Alibaba, supported by its strong fundamentals, expanding AI initiatives, and solid recovery in e-commerce business. Meanwhile, Amazon is gaining from steady growth in cloud and advertising, two high-margin areas set to benefit from AI. While its upside may be smaller than Alibaba's, Amazon's stable growth and strong cash flow continue to earn Wall Street's confidence.
