Greenland Energy Company (NASDAQ: GLND) is moving forward with plans to explore the Jameson Land Basin in East Greenland, a region where onshore basins of genuine scale that remain undrilled are increasingly rare. The basin, historically evaluated by US Atlantic Richfield Company (ARCO) decades ago but never drilled, holds independent estimates indicating recoverable oil upside of 13 billion barrels, according to Sproule ERCE engineering estimates.
Greenland Energy holds rights to up to 70% working interest across three onshore licenses covering more than 2 million acres in the basin. The company has contracted Stampede Drilling for Arctic-rated rig services, alongside agreements with Halliburton, Desgagnés, and IPT Well Solutions to support its 2026 drilling campaign.
The Jameson Land Basin represents one of the most prominent examples of a frontier opportunity that combines technical risk with significant optionality. Most of the world's major hydrocarbon-producing regions have been systematically tested over the past half-century, leaving frontier opportunities concentrated in geographies with challenging logistics, complex permitting, or historically limiting macroeconomic conditions.
This announcement is important because it highlights the potential for substantial new oil reserves in an undrilled Arctic basin. The 13 billion barrels of recoverable oil upside, if realized, could have significant implications for global energy markets and the strategic position of Greenland as an emerging energy province. The involvement of major service providers like Halliburton and Stampede Drilling underscores the commercial viability of the project.
For investors, the latest news and updates relating to GLND are available in the company’s newsroom at ibn.fm/GLND. The company is publicly traded on the NASDAQ under the ticker GLND.
