Greenland Energy Company (NASDAQ:GLND) has signed an agreement with Halliburton (NYSE:HAL) covering integrated consulting, logistics and drilling services for the company’s planned 2026 exploration programme in the Jameson Land Basin in East Greenland.
The Denver-based oil explorer completed its NASDAQ listing in March 2026 through a business combination with Pelican Acquisition Corporation. Following the transaction, the company raised approximately $70 million in gross proceeds through a public offering to support its exploration activities.
In addition to the Halliburton agreement, Greenland Energy has secured a five-year drilling contract with Stampede Drilling for the provision of an Arctic-capable rig. The company has also entered into arrangements with IPT Well Solutions and several other service providers to support the upcoming drilling campaign.
Greenland Energy is targeting October 2026 for the start of its first modern onshore drilling programme. Operations are expected to begin with the OPW-1 and OPW-6 exploration wells, each planned to reach depths of approximately 3,500 metres. If the wells are successfully completed, the company could earn up to a 70% working interest in the licence area.
The Jameson Land Basin encompasses roughly 2 million acres of onshore acreage. According to independent assessments, the basin may contain as much as 13.0 billion barrels of gross unrisked prospective oil resources. The estimates are supported by historical seismic surveys and more than $275 million of prior industry investment on an inflation-adjusted basis.
The company said it has obtained the necessary approvals to mobilise heavy equipment required for field operations, including bulldozers, trucks, excavators, generators and accommodation units.
Greenland Energy is also continuing engagement efforts with residents of Ittoqqortoormiit as part of its broader community relations programme linked to the development of the project.
The update was provided in a shareholder letter issued by Chief Executive Officer Robert Price on June 9, 2026.