Greenland Energy signs Halliburton deal, targets October drilling

Greenland Energy Company (NASDAQ: GLND) announced it has entered into an agreement with Halliburton (NYSE: HAL) for integrated consulting, logistics, and drilling services to support its 2026 exploration program in East Greenland's Jameson Land Basin.

The Denver-based oil exploration company completed its public listing on NASDAQ in March 2026 through a business combination with Pelican Acquisition Corporation and subsequently raised approximately $70 million in gross proceeds through a public offering.

Greenland Energy also secured a five-year drilling agreement with Stampede Drilling for an Arctic-equipped rig and established partnerships with IPT Well Solutions and other service providers for its drilling operations.

The company plans to begin its first modern onshore drilling operations in October 2026, starting with the OPW-1 and OPW-6 exploration wells, each approximately 3,500 meters deep. Successful completion of these wells would allow Greenland Energy to earn up to a 70% working interest in the license area.

The Jameson Land Basin covers approximately 2 million acres onshore. Independent estimates suggest the basin contains up to 13.0 billion barrels of gross un-risked prospective oil resources, supported by historical seismic data and over $275 million in prior industry investment on an inflation-adjusted basis.

Greenland Energy has received approvals for mobilizing heavy equipment including bulldozers, trucks, excavators, generators, and housing to support field operations. The company is also engaging with the local community in Ittoqqortoormiit as part of its community outreach process.

The information was disclosed in a shareholder letter from Chief Executive Officer Robert Price dated June 9, 2026.

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