Greenland Energy Company, an oil exploration company focused on East Greenland's Jameson Land Basin, has announced a services agreement with Halliburton and updates on its 2026 exploration program.

Since completing their business combination and commencing trading on NASDAQ in late March 2026, Greenland Energy have made progress towards the goal of positioning the Company as a leader in frontier oil exploration in Greenland's Jameson Land Basin.

Key Accomplishments (March–May 2026)

• Successful NASDAQ Listing and Capital Raise: The company completed their business combination with Pelican Acquisition Corporation and related entities, transitioning to public trading under the ticker: GLND. Shortly thereafter, Greenland Energy closed a public offering that raised approximately $70 million in gross proceeds. These funds are directly supporting their exploration program, including procurement of long-lead items and field operations.
• Strategic Partnerships for Execution: Greenland Energy secured key agreements with industry leaders:
• A five-year drilling agreement with Stampede Drilling for Rig #12, a rig equipped for Arctic conditions, to support the company's 2026 campaign.
• An agreement with Halliburton for integrated consulting, logistics, and comprehensive well and drilling services.
• Collaboration with IPT Well Solutions and other service providers to support drilling and completion activities.
• Operational Mobilization: Greenland Energy advanced field readiness in East Greenland, including approvals for mobilizing heavy equipment (bulldozers, trucks, excavators, generators, and housing). The company also progressed procurement, infrastructure planning, and logistics for their onshore program.

Future Milestones and Outlook

Looking ahead, Greenland Energy remain focused on executing their exploration program. Key upcoming milestones include:

• Meeting with the community in Ittoqqortoormiit as part of the process of community engagement and feedback this week
• Procurement and Field Readiness: Continued advancement of casing, tubing, mill capacity for long-lead materials, road/pad construction planning, and equipment mobilization throughout 2026.
• Drilling Campaign: Targeting the commencement of the company's first modern onshore drilling operations in the October 2026 window, beginning with the OPW-1 and OPW-6 exploration wells (approximately 3,500 meters each). Successful completion of these wells would allow Greenland Energy to earn up to a 70% working interest in the license area.
• Resource Potential: Greenland Energy are targeting multiple large structures in a basin with independent estimates of up to ~13.0 billion barrels of gross un-risked prospective oil resources, supported by historical seismic data and over $275 million in prior industry investment (inflation-adjusted).

KeyFacts Energy: Greenland Energy Greenland country profile