Greenland Energy Company (NASDAQ: GLND) Secures a Strategic Agreement for Advanced Rig Capacity to Support the Onshore Oil Exploration Program in Greenland

Executive Summary

• Greenland Energy Company entered a five‑year strategic agreement with Stampede Drilling Inc. to provide Rig #12, a high‑performance unit built for Arctic conditions, for its 2026 onshore drilling campaign in the Jameson Land Basin.
• The agreement allows Greenland to mobilize crews and drill up to two wells during the upcoming season, securing essential rig capacity for one of the most anticipated frontier projects in Greenland.
• The announcement follows the closing of Greenland’s business combination (March 25 2026) that created the publicly traded entity (NASDAQ: GLND).

Key Details

• Partner: Stampede Drilling Inc. (TSX: SDI), a Canadian energy services firm with expertise in Arctic drilling.
• Rig Provided: Rig #12, specifically equipped for extreme cold and remote operations.
• Term: Five‑year agreement covering the 2026 drilling campaign and subsequent periods.
• Scope of Work: Up to two exploratory wells to be drilled in the Jameson Land Basin during 2026.
• Strategic Importance: Guarantees reliable, high‑caliber drilling capacity essential for advancing Greenland’s onshore oil exploration program.
• Corporate Context: Follows the completion of Greenland Energy’s business combination (Pelican Holdco, Pelican Acquisition Corp., March ?GL?Company, and Greenland Exploration Ltd.) that closed on March 25 2026, resulting in the new NASDAQ‑listed entity GLND.

Notable Quotes

• “Securing a reliable, high‑caliber drilling partner is essential for success in advancing a project of this scale,” – Robert Price, CEO, Greenland Energy Company.
• “Delivering in extreme conditions demands precision and respect for the environment… we look forward to delivering the operational performance that makes that vision a reality,” – Lyle Whitmarsh, President & CEO, Stampede Drilling Inc.