Greenland Energy Company (NASDAQ: GLND) provided a midyear operational update detailing progress since its March 2026 Nasdaq debut, including a $70 million public offering and key service agreements that position the company to begin modern onshore drilling in East Greenland. The company has signed a five-year drilling agreement with Stampede Drilling and an integrated services agreement with Halliburton (NYSE: HAL) covering consulting, logistics and well services for its planned exploration campaign.
According to the update, Greenland Energy continues advancing procurement, infrastructure planning and equipment mobilization for its Jameson Land Basin project. The company plans to drill the OPW-1 and OPW-6 exploration wells, each extending approximately 3,500 meters. The basin contains independent estimates of up to 13 billion barrels of gross unrisked prospective oil resources, supported by historical seismic data and prior industry investment.
The company targets the start of drilling operations in October 2026. The Halliburton agreement, in particular, provides access to expertise and technology critical for Arctic drilling operations. Greenland Energy's Nasdaq listing in March 2026 raised approximately $70 million in gross proceeds, providing capital to fund the exploration program.
Greenland Energy is focused on responsibly developing Greenland's hydrocarbon resources, with an emphasis on the Jameson Land Basin. The company aims to advance oil and gas exploration and create a publicly traded platform for Arctic energy development. For more information, visit the company's newsroom at https://ibn.fm/GLND.
The full press release is available at https://ibn.fm/TXN8n.
