Greenland Energy Bags High-Performance Rig Capacity For Arctic Exploration

• Robert Price, CEO of Greenland Energy, said the deal would give the company the operational backbone to deliver on its 2026 goals. 
• The deal would result in creating Stampede's Rig #12, equipped for Arctic conditions.
• Greenland Energy Co. began trading on Nasdaq under the ticker “GLND” on March 26.

Greenland Energy Co. (GLND) announced on Friday that it had secured a drilling agreement with Canadian company Stampede Drilling Inc. to provide a high-performance rig and expert services for operations in the Jameson Land Basin.

The deal is a five-year agreement that would involve drilling up to two wells in Arctic conditions, as per the company.

Robert Price, CEO of Greenland Energy, said the deal would give the company the operational backbone to deliver on its 2026 goals.

Shares of GLND climbed about 2.19% higher in extended trading hours, after closing about 37% lower on Friday.

Deal Contours

The deal would result in creating Stampede's Rig #12, equipped for Arctic conditions.

"Securing a reliable, high-caliber drilling partner is essential for success in advancing a project of this scale," said Price. "Stampede brings proven expertise in Arctic conditions and a track record of safety and efficiency, giving us the operational backbone to deliver our 2026 program."

"Delivering in extreme conditions demands precision and respect for the environment," said Lyle Whitmarsh, President and CEO of Stampede. "We're excited to partner with the Greenland Energy team on a program that has the potential to open one of the most exciting unexplored basins in the world, and we look forward to delivering the operational performance that makes that vision a reality."

Nasdaq Debut

Greenland Energy Co. began trading on Nasdaq under the ticker “GLND” on March 26, after being formed by combining with Pelican Holdco, Inc., Pelican Acquisition Corporation, March GL Company, and Greenland Exploration Limited.

As a newly public company, Greenland Energy is focused on unlocking Greenland’s natural resources to support global energy security. Its flagship asset, the Jameson Land Basin in East Greenland, spans over 2 million acres, with an independent report estimating up to 13 billion barrels of recoverable oil.

On Stocktwits, retail sentiment around GLND stock was in the ‘neutral’ territory, amid message volumes that climbed from ‘extremely low’ to ‘extremely high’ levels over the past 24 hours.

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