Greenland Energy Targets Undrilled Arctic Basin with 13 Billion Barrel Potential

Greenland Energy Company (NASDAQ: GLND) is moving forward with plans to drill in the Jameson Land Basin in East Greenland, a region that has been evaluated by major oil companies but never drilled. The company holds rights to up to a 70% working interest across three onshore licenses covering more than 2 million acres, positioning it to explore one of the few remaining undrilled onshore basins of significant size.

Independent engineering estimates from Sproule ERCE indicate that the basin could contain recoverable oil upside of 13 billion barrels. The area was extensively evaluated by US Atlantic Richfield Company (ARCO) decades ago, but no drilling ever took place. This combination of technical promise and untested potential draws investor interest, though it carries inherent risks.

Greenland Energy has contracted Stampede Drilling for Arctic-rated rig services and secured agreements with Halliburton, Desgagnés, and IPT Well Solutions to support its planned 2026 drilling campaign. These partnerships are critical for operating in the challenging Arctic environment, where logistics and weather conditions can complicate operations.

The Jameson Land Basin represents a frontier opportunity in a world where most major hydrocarbon-producing regions have been systematically tested. Onshore basins of genuine scale that remain undrilled are increasingly rare, making this project notable for the oil and gas industry. The company's progress can be tracked through its newsroom at ibn.fm/GLND.

For investors, the project offers a high-risk, high-reward profile typical of frontier exploration. The 13 billion barrel estimate, if confirmed, would represent a substantial resource, but the technical and operational challenges are significant. Greenland Energy's ability to execute its drilling campaign will be key to determining whether the basin's potential can be realized.