Microsoft sued by Australia competition regulator over Copilot, 365 pricing
Investing.com -- Safe & Green Holdings Corp. (NASDAQ:SGBX) stock surged 25.9% in premarket trading Friday after the company announced the completion of Phase 1 of its intelligent wellsite monitoring system.
The AI-powered system, developed through the company’s wholly owned subsidiary Olenox Corp, uses a proprietary algorithm to analyze water-cut percentages and dynamically adjust pumpjack operations at oil wells. The technology leverages Machfu gateway as its core component to enable real-time, bi-directional monitoring and control.
According to the company, the system is designed to optimize wellsite operations by modulating pump speeds or temporarily shutting down equipment to allow reservoir rebalancing and minimize water coning. This approach aims to increase production efficiency while extending equipment life and reducing lifting costs, site visits, and unnecessary energy consumption.
"This marks a major step forward in merging AI with traditional oilfield operations," said Michael McLaren, CEO of Olenox Corp. "Our intelligent monitoring platform will help us make smarter, faster decisions at the wellsite—reducing costs, conserving energy, and setting a new standard for efficiency across our operations."
Safe & Green Holdings plans to move forward with Phase 2 of the project, which will involve full implementation on one of Olenox’s production pads. The company also intends to launch a read-only webpage that will allow shareholders to observe the system’s performance in real time.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.