Greenland Energy Company (NASDAQ: GLND) 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 has executed key service agreements supporting its East Greenland exploration program, signing 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.
Greenland Energy 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. 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 partnership with Halliburton is particularly significant as it brings world-class expertise to the challenging Arctic environment. Halliburton will provide integrated services including consulting, logistics and well services, which are critical for safe and efficient operations. The drilling agreement with Stampede Drilling ensures access to modern drilling rigs capable of operating in remote onshore locations.
The Jameson Land Basin has attracted previous industry investment and is considered one of the most promising underexplored onshore basins in the Arctic. Greenland Energy's Nasdaq listing and capital raise position it to advance exploration activities that could unlock substantial hydrocarbon resources. The company aims to responsibly develop Greenland's hydrocarbon resources while creating value for shareholders.
For more details, the full press release is available at https://nnw.fm/u0vVA. Greenland Energy Company (NASDAQ: GLND) is an energy exploration company focused on responsibly developing Greenland's hydrocarbon resources, with an emphasis on the Jameson Land Basin. It aims to advance oil and gas exploration and create a publicly traded platform for Arctic energy development.
