Greenland Energy Company (NASDAQ: GLND) has provided a midyear operational update highlighting significant progress since its March 2026 Nasdaq debut, including the completion of a public offering that raised approximately $70 million in gross proceeds. The company also announced the execution of key service agreements supporting its East Greenland exploration program, notably a five-year drilling agreement with Stampede Drilling and an agreement with Halliburton (NYSE: HAL) for integrated consulting, logistics and well services ahead of its planned drilling campaign.
The company said it continues advancing procurement, infrastructure planning and equipment mobilization for its Jameson Land Basin project while targeting the start of modern onshore drilling operations in October 2026. Greenland Energy plans to drill the OPW-1 and OPW-6 exploration wells, each extending approximately 3,500 meters, and noted 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 partnership with Halliburton is a critical step for Greenland Energy as it prepares for its drilling campaign. Halliburton will provide integrated services including consulting, logistics, and well services, leveraging its expertise in complex environments. The drilling agreement with Stampede Drilling ensures access to modern drilling rigs capable of operating in Arctic conditions.
Greenland Energy's Jameson Land Basin project represents a significant frontier for hydrocarbon exploration, with estimates of up to 13 billion barrels of prospective resources. The company aims to responsibly develop Greenland's hydrocarbon resources, creating a publicly traded platform for Arctic energy development. The successful execution of the drilling campaign could have implications for global energy markets, as new sources of oil are developed in the Arctic region.
For more information, visit the company's newsroom at https://nnw.fm/GLND.
