Olenox starts seismic fieldwork on North Texas acreage

Olenox Industries Inc. (NASDAQ: OLOX) has engaged a seismic services firm to begin fieldwork across its North Texas acreage, moving its multi-well oil and natural gas development program into the field-execution phase, according to a company statement.

Seismic fieldwork is scheduled to begin the week of September 7, 2026, and is expected to take approximately two to three weeks to complete. The resulting subsurface data will be used to evaluate 10 potential drill sites and determine which locations to prioritize for development.

Based on the seismic findings, the identified sites could potentially support the drilling of as many as 10 wells over time. The company said it does not anticipate completing all potential wells in the current year. The number, location, and timing of wells will be determined following analysis of the seismic data, along with consideration of permitting, financing, commodity prices, and other operational conditions.

Preliminary geological assessments indicate natural gas potential within the area. If commercially recoverable natural gas resources are confirmed, the company said it intends to evaluate using locally produced natural gas to generate power for its digital-infrastructure operations.

"This marks an important transition from planning and preliminary evaluation to active field execution," said Michael McLaren, Chief Executive Officer of Olenox Industries.

Following completion of the seismic fieldwork, the company's geological and engineering team will analyze the findings, rank the 10 potential drill sites, and develop recommendations for an initial drilling phase.

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