Under an O-A visa, the maximum stay will not exceed 24 months total. And in the 2nd. year of the O-A visa the Multi-Entry aspect of this visa is dropped - then it requires reporting every 90 days and buying a Reentry Permit if the visa holder wants to leave and come back.
Times are changing but I know people on Non O-A who never reported in the first year but rather exited and reentered Thailand every 90 days. However, I suspect it is frowned upon these days.
A quick taxi to the Ubon bus station from the airport will help. I did this not long ago and was able to catch a bus to Mukdahon within a half hour .. there are vans and taxis there too ... Taxi to Mukdahon - less than 2000 Baht - maybe 1500 as an alternative.
The Thai Consulate in Savannakhet has actually been opening at 9:00 a.m. (not 8:30 a.m. as posted on the sign). Lines have not been long.
While in Savannakhet, I had to go to the Lao Immigration station at the bridge to get documents couriered to me and come back ... I didn't get in to the line at the Consulate until 9:45 and only two people were ahead of me... They take applications until 11:00 ... So you have a fair amount of time to deal with travel..
I recommend in the late afternoon / early evening - when going to Savannakhet to stop in Mukdahan at the Kiengpiman Hotel - stay the night... Nice place - cheap at 400 Baht. The next morning the manager / staff will get you a taxi to the entrance to the Mukdahan > Savannakhet Bridge early in the morning - where you have to get on a bus - stop at Thai Immigration - process out -- then ride the same bus the rest of the way to Lao Immigration ... (allow 30-40 minutes processing and transit time. A taxi or tuk tuk from Lao Immigration to the Consulate takes about 10-12 minutes drive time ... Then after turning the Visa Application in - go to the Avalon Hotel by Tuk Tuk .. rooms up to about 680 Baht equivalent... Nice place ... not very far from the Thai Consulate for retrieval of the Passport with Visa the next afternoon after 2:00 p.m.
Of course you can go on to Savannakhet that evening and not stop in Mukdahan - but not much advantage in doing that.
If you are not aware you can also use the Income Method where you can prove or attest that you receive in some form of income from outside Thailand (usually Home Country) the monthly amount equivalent to 65,000 Baht... No money in the bank needs to be proved.
Yes 1st. time you apply for the One Year Extension of Stay - for being age 50 or over - sometimes called Retirement, the Seasoning / Aging of the 800k Baht is 2 months - actually 60 days. 2nd time you apply it is 3 months