Greenland Energy Targets 13 Billion Barrels in East Greenland

Greenland Energy Company (NASDAQ: GLND) is making significant strides in developing the Jameson Land Basin in East Greenland, a frontier oil region that CEO Robert Price describes as one of the last largely undrilled onshore petroleum basins in the world. In an interview with Energy, Oil & Gas Magazine, Price detailed the company's plans to leverage extensive seismic data originally collected by Atlantic Richfield Company (ARCO) during the 1970s and 1980s. Modern reprocessing of this historical data has helped refine potential drilling targets within a geological system that the company believes shares characteristics with the North Sea, potentially holding up to 13 billion barrels of oil across the basin, with the first drill location estimated at approximately 2.9 billion barrels. Greenland Energy holds rights to up to a 70% interest in the basin and is preparing for an initial drilling campaign targeted for October 2026.

Project preparations are already underway, including refurbishment and transport of a drilling rig, road construction, and logistics planning led by Halliburton. Price emphasized that the project could play an important role in future energy security while also contributing to Greenland’s long-term economic development, drawing comparisons to the impact of resource development in Norway and Denmark. He noted that stakeholders increasingly view the basin’s potential hydrocarbon resources as a catalyst for infrastructure investment, public revenue generation, and broader economic growth.

Greenland Energy Company is focused on responsibly developing Greenland’s hydrocarbon resources, with an emphasis on the Jameson Land Basin, and aims to create a publicly traded platform for Arctic energy development. The news was originally reported by Energy, Oil & Gas Magazine and distributed via MissionIR, a specialized communications platform that assists IR firms with syndicated content to enhance visibility within the investment community. MissionIR is powered by IBN and offers access to a vast network of wire solutions through InvestorWire, as well as editorial syndication to 5,000+ outlets and social media distribution.