HOUSTON, April 27, 2026 (GLOBE NEWSWIRE) -- via IBN -- Greenland Energy Company (“Greenland”) (NASDAQ: GLND) today announced the signing of an agreement with Halliburton for integrated consulting services and logistical management relating to the planning, coordination, handling, and transportation of equipment, services, and goods. The agreement includes comprehensive well and drilling services for Greenland Energy’s onshore campaign in the Jameson Land Basin, a frontier region widely regarded as one of the most promising unexplored oil basins in the world.
Building on Greenland Energy’s previously announced strategic agreements with Stampede Drilling and Desgagnés, the agreement with Halliburton forms a key component of the company’s integrated Arctic operations strategy. Together, these arrangements ensure best‑in‑class rig performance, logistics, and subsurface technology for the first onshore exploration well in the Jameson Land Basin of Greenland.
“Greenland Energy Company’s agreement with Halliburton is another pivotal milestone as we execute our 2026 drilling program and build on the momentum following our NASDAQ listing,” said Robert Price, CEO of Greenland Energy Company. “By working with Halliburton, we can tap into world‑class expertise and advanced technologies that will enhance drilling accuracy, safety, and efficiency under Arctic conditions. This agreement strengthens our operational platform and emphasizes our commitment to technical excellence and responsible development in a frontier basin.”
The announcement follows Greenland Energy’s recent visit to the Nasdaq MarketSite in Times Square on April 8, 2026, where CEO Robert Price commemorated the company’s public listing by ringing the Nasdaq Opening Bell. The event marked a key symbolic step in Greenland Energy’s emergence as a publicly traded platform for Arctic energy development.
Following more than a year of logistical planning and site preparation, Greenland Energy Company expects to drill its first two wells in 2026. The Jameson Land Basin spans approximately 2 million acres and includes multiple identified targets supported by both historical and modern seismic data. This represents a resource opportunity in an undrilled basin with significant discovery potential.
About Greenland Energy Company
Greenland Energy Company (NASDAQ: GLND) is an energy exploration company focused on responsibly developing Greenland’s hydrocarbon resources, with an emphasis on the Jameson Land Basin. It aims to advance oil and gas exploration and create a publicly traded platform for Arctic energy development.
More information regarding Greenland Energy Company is available on its website: www.greenlandenergyco.com
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained herein other than statements of present or historical fact, including, without limitation, statements regarding Greenland Energy Company’s (the “Company”) future financial performance, business strategy, operations, financial position, estimated revenues and losses, projected costs, prospects, plans, objectives of management, and expected benefits of the Company’s recent business combination, are forward-looking statements. Forward-looking statements are generally identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “potential,” “predict,” or the negative of these terms or similar expressions, although not all forward-looking statements contain such identifying words.
These forward-looking statements are based on management’s current expectations, assumptions and beliefs regarding future events and are based on information currently available to the Company. These statements involve a number of risks and uncertainties, many of which are difficult to predict and are beyond the Company’s control, and actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include, among others: (i) Exploration and Geological Risks, including the Company’s status as a development-stage company with no operating history, revenues, or proved reserves; the inherent uncertainty in prospective resource estimates, including that the 13 billion barrel estimate is based on undiscovered accumulations with no certainty of discovery or commercial viability; geological complexity arising from limited seismic data coverage, pervasive igneous intrusions, faulting patterns, and significant Tertiary uplift creating thermal maturity uncertainty; the fact that the basin has never produced a commercial discovery despite decades of study dating back to the 1970s, and a 2008 USGS report stating less than a 10% chance of containing a technically recoverable hydrocarbon accumulation; and high-cost frontier exploration with estimated well costs of $40 million for the first well and $20 million for subsequent wells; (ii) Operational and Environmental Risks, including the challenges of operating in a remote Arctic location with extreme climate, harsh weather, limited daylight, no existing infrastructure, and seasonal access windows for equipment and personnel; drilling hazards such as blowouts, equipment failures, well control events, environmental releases, and accidents inherent in oil and gas operations; reliance on third-party contractors; and climate change scrutiny, as operations in Greenland face increasing opposition from environmental groups and institutional investors due to Arctic drilling concerns; (iii) Regulatory and Political Risks, including the 2021 Greenland drilling moratorium, and while licenses are grandfathered, future regulatory changes could jeopardize operations; geopolitical tensions, including U.S. interest in acquiring Greenland and Greenland’s internal independence movements that could affect operations; permit requirements, as drilling requires Environmental Impact Assessment approval and Field Activities Application approval from Greenlandic authorities; and forfeiture risk, as failure to meet drilling milestones could result in loss of the Company’s right to earn working interests; (iv) Financial and Capital Risks, including significant capital requirements and the need for substantial funding beyond current resources to complete the drilling program; commodity price volatility, as oil, gas, and NGL prices are highly volatile and will heavily influence project viability; a long development timeline during which market conditions may change significantly before potential production, unlike short-cycle shale projects; going concern uncertainty and substantial doubt about the Company’s ability to continue as a going concern without additional financing; and energy transition risk, as global demand for oil may decline due to electric vehicle adoption, renewable energy policies, and changing consumer preferences; and other risks and uncertainties as set forth in the Company’s Proxy Statement/Prospectus, dated February 18, 2026, in the section titled “Risk Factors”.
Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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