Greenland Energy signs drilling deal with Stampede for Arctic operations

Greenland Energy Company (NASDAQ: GLND) announced a strategic drilling agreement with Stampede Drilling Inc. (TSX: SDI) to provide drilling services for operations in the Jameson Land Basin.

Under the five-year agreement, Stampede will provide Rig #12, which is equipped for Arctic conditions, to drill up to two wells for Greenland Energy's 2026 drilling campaign. The rig will be mobilized to support what the companies describe as a frontier exploration project.

The agreement follows the completion of a business combination between Pelican Holdco, Inc., Pelican Acquisition Corporation, March GL Company, and Greenland Exploration Limited. The transaction closed on March 25, 2026, forming Greenland Energy Company, which began trading on NASDAQ under the ticker symbol GLND.

"Securing a reliable, high-caliber drilling partner is essential for success in advancing a project of this scale," said Robert Price, CEO of Greenland Energy Company. "Stampede brings proven expertise in Arctic conditions and a track record of safety and efficiency, giving us the operational backbone to deliver our 2026 program."

Lyle Whitmarsh, President and CEO of Stampede, said the company is excited to partner with Greenland Energy on the program in the Jameson Land Basin.

Greenland Energy Company is an energy exploration company focused on developing Greenland's hydrocarbon resources. Stampede Drilling Inc. is a Calgary-based energy services company that provides contract drilling services in Western Canada and frontier regions.

You May Also Be Interested In

• Robinhood prices $2B convertible notes offering due 2029
• Dyne Therapeutics adds Barry Greene to its board of directors
• Ridgepost Capital acquires Stellus Capital Management for $4B AUM