Greenland Energy Company announced further progress in its 2026 exploration program in the Jameson Land Basin in East Greenland, highlighting the signing of a strategic agreement with Halliburton and progress in preparations to begin drilling operations during the last quarter of the year.
The company, which recently began trading on the NASDAQ under the symbol GLND, reported that the funds obtained after its initial public offering are being used to acquire equipment, long-term materials, and logistical activities necessary to execute its exploration program.
Halliburton will support the drilling operations
As part of its execution strategy, Greenland Energy entered into an agreement with Halliburton to provide integrated consulting, logistics, drilling and well support services.
In addition, the company has a five-year contract with Stampede Drilling to use a platform prepared for arctic conditions, while IPT Well Solutions will participate in activities related to drilling and well completion.
These alliances seek to strengthen the operational capacity of the project and reduce risks associated with an exploration campaign in one of the most remote regions of the global energy sector.
Preparations for the program are progressing in Jameson Land
Furthermore, Greenland Energy confirmed progress in obtaining permits and logistical arrangements to move heavy machinery, generators, accommodation systems, and other equipment necessary to operate in East Greenland.
Likewise, the company continues to develop infrastructure plans, build access roads, and acquire specialized materials that will be used during the campaign planned for this year.
The company also maintains community engagement activities with residents of Ittoqqortoormiit, as part of its social engagement strategy and responsible project management.
First wells planned for October 2026
The program includes the start of drilling of the OPW-1 and OPW-6 exploratory wells during October 2026. Each would reach depths close to 3,500 meters.
If successfully completed, this work would allow Greenland Energy to significantly increase its stake in the licensed area and advance the assessment of the basin’s commercial potential.
According to independent estimates cited by the company, Jameson Land could hold up to 13 billion barrels of prospective oil resources without risk, backed by historical seismic data and decades of prior industry investment.
Greenland gains prominence in energy exploration
The program’s development positions Greenland as a region of growing interest for oil and gas exploration. The combination of new drilling technologies, accumulated geological data, and partnerships with international suppliers is ushering in a new era of resource assessment in the Arctic.
Greenland Energy stated that it will continue to prioritize disciplined capital allocation, environmental stewardship, and responsible development of its activities as it moves toward the start of drilling operations.
Source: Prnewswire
Photo: Shutterstock
