Greenland Energy Raises $70M, Secures Halliburton and Stampede Drilling Deals
GLND•Greenland Energy completed its NASDAQ listing after a late-March business combination and raised about $70 million for Jameson Land Basin exploration. The company secured a five-year rig contract with Stampede Drilling, a Halliburton services agreement and progressed field mobilization for its October 2026 drilling campaign.
1. NASDAQ Listing and Capital Raise
Greenland Energy completed its business combination with Pelican Acquisition Corporation and began trading on NASDAQ in late March 2026. A subsequent public offering generated approximately $70 million in gross proceeds to fund long-lead procurement and field operations in the Jameson Land Basin.
2. Strategic Partnerships
The company entered a five-year drilling agreement with Stampede Drilling for its Arctic-rated Rig #12 and signed an integrated consulting, logistics and well services contract with Halliburton. Additional collaborations with IPT Well Solutions and other providers will support drilling and completion activities.
3. Field Mobilization Progress
Regulatory approvals are in place to mobilize heavy equipment — including bulldozers, excavators and generators — to East Greenland. Procurement of casing, tubing and mill capacity is under way, alongside infrastructure planning for roads and well pads.
4. Drilling Campaign Plans and Resource Upside
Greenland Energy targets an October 2026 start for its OPW-1 and OPW-6 exploration wells, each about 3,500 meters deep, to earn up to a 70% working interest. Independent studies estimate roughly 13 billion barrels of un-risked prospective oil resources in the license area, backed by over $275 million in prior industry investment.
