Olenox Industries Inc. (锟絆lenox锟� or the 锟紺ompany锟�), a multifaceted energy company, is pleased to announce its 2026 drilling program is underway with the identification of well locations and plans to begin shooting seismic data this month. Olenox锟絪 plans include drilling one well by the end of the current calendar quarter, followed by drilling three wells in each of the second, third and fourth calendar quarters of 2026.
锟絎e believe that due to the positive trends in oil prices, the time to kick off our drilling program is now,锟� said Olenox CEO Michael McLaren, noting the Company is continuing its efforts to bring wells online on a weekly basis through workovers and lease enhancements.
Olenox has finished its pipeline survey and is currently preparing the necessary paperwork to recommission and relicense its 162-mile pipeline, bringing it fully online. McLaren said he expects the pipe to be fully functionable by the end of the third quarter of 2026. The Company is also conducting evaluations of wells attached to the pipeline as potential acquisitions and is in the process of executing the necessary due diligence.
锟絅ow that the Company is on a much stronger footing, we can push forward and get to work on the field assets,锟� said McLaren. 锟絆ur goal this year, with our new drills and acquisitions, is to hit our target of 1,000 BOE a day by year-end.锟�