Greenland Energy Signs Five-Year Deal for Arctic Rig #12 to Drill Two Wells
Greenland Energy Company has secured a five-year drilling agreement with Stampede Drilling for Rig #12, specifically outfitted for Arctic operations in the Jameson Land Basin. Under the contract, Stampede will mobilize crews to drill up to two wells during Greenland’s 2026 exploration campaign.
1. Strategic Drilling Agreement
Greenland Energy Company entered a five-year contract with Stampede Drilling to secure use of Rig #12 for its onshore program in the Jameson Land Basin. The deal guarantees mobilization of a high-performance rig and crew to execute frontier drilling operations.
2. Arctic-Ready Rig #12 Deployment
Rig #12 is equipped to handle extreme Arctic conditions, ensuring year-round drilling capability in Greenland’s remote terrain. Under the agreement, Stampede will drill up to two wells as part of Greenland Energy’s 2026 campaign.
3. Post-Combination Operations
The agreement follows the March 25, 2026 closing of the business combination that formed Greenland Energy Company, which now trades on NASDAQ. This partnership marks the first major operational step under the company’s new public structure.