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Greenland Energy Company (NASDAQ: GLND) Secures a Strategic Agreement for Advanced Rig Capacity to Support the Onshore Oil Exploration Program in Greenland
Prnewswire· 2026-03-27 19:38
Core Viewpoint - Greenland Energy Company has secured a strategic agreement with Stampede Drilling to provide advanced rig capacity for its onshore oil exploration program in Greenland, specifically in the Jameson Land Basin, with plans to drill up to two wells by 2026 [1][2][4]. Group 1: Strategic Agreement - The agreement with Stampede Drilling ensures the availability of Rig 12, which is specifically equipped for Arctic conditions, to support the drilling campaign [2]. - This five-year agreement is part of one of the industry's most anticipated frontier projects, highlighting the significance of the Jameson Land Basin [2]. Group 2: Company Background - Greenland Energy Company, now trading on NASDAQ under the ticker symbol "GLND," focuses on responsibly developing Greenland's hydrocarbon resources, particularly in the Jameson Land Basin [3][5]. - The company was formed following a business combination involving Pelican Holdco, Inc., Pelican Acquisition Corporation, March GL Company, and Greenland Exploration Limited, which closed on March 25, 2026 [3]. Group 3: Leadership Insights - Robert Price, CEO of Greenland Energy, emphasized the importance of having a reliable drilling partner like Stampede, which has proven expertise in Arctic conditions and a strong safety record [4]. - Lyle Whitmarsh, President and CEO of Stampede, expressed excitement about the partnership and the potential to explore one of the most exciting unexplored basins in the world [4].