Greenland Energy Company (NASDAQ: GLND) today provided a midyear operational update, detailing significant progress since its March 2026 Nasdaq debut. The company completed a public offering that raised approximately $70 million in gross proceeds and has secured key service agreements to advance its East Greenland exploration program. Most notably, Greenland Energy signed 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 continues advancing procurement, infrastructure planning and equipment mobilization for its Jameson Land Basin project. Greenland Energy targets the start of modern onshore drilling operations in October 2026, with 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 partnership with Halliburton is a critical component of Greenland Energy's strategy to responsibly develop hydrocarbon resources in the Arctic. Halliburton will provide integrated services including consulting, logistics and well services, leveraging its extensive experience in harsh environments. The five-year drilling agreement with Stampede Drilling ensures dedicated rig availability for the multi-well program.
Greenland Energy's Nasdaq listing and capital raise underscore investor interest in Arctic energy development. The company aims to create a publicly traded platform for exploration in Greenland, which is geologically underexplored but believed to hold significant oil and gas reserves. The Jameson Land Basin, in particular, has attracted attention due to its potential and the availability of modern exploration technologies.
For more details, the full press release is available at https://nnw.fm/xjzJf. Updates on GLND can be found in the company's newsroom at https://nnw.fm/GLND.
