Greenland Energy Company (NASDAQ: GLND) Secures a Strategic Agreement for Advanced Rig Capacity to Support the Onshore Oil Exploration Program in Greenland
Strategic agreement with Stampede Drilling (TSX:SDI) secures a high performance drilling rig for the Arctic conditions of the Jameson Land Basin operations
Greenland Energy selects Stampede Drilling to execute their 2026 drilling campaign
HOUSTON and CALGARY, AB, March 27, 2026 /PRNewswire/ -- Greenland Energy Company ("Greenland") (NASDAQ:GLND) today announced a strategic drilling agreement with Stampede Drilling Inc. ("Stampede"), a leading Canadian energy services company, to provide a high-performance rig and expert services for upcoming operations in the Jameson Land Basin.
This agreement ensures the availability of Stampede's Rig #12, equipped for Arctic conditions, to mobilize crews and execute drilling for one of the industry's most anticipated frontier projects. Under a five-year agreement, plans call for drilling up to two wells.
This agreement follows the completion of the previously announced business combination between Pelican Holdco, Inc., Pelican Acquisition Corporation, March GL Company, and Greenland Exploration Limited. The transaction closed on March 25, 2026, forming Greenland Energy Company, which now trades on NASDAQ under the ticker symbol "GLND".
"Securing a reliable, high-caliber drilling partner is essential for success in advancing a project of this scale," said Robert Price, CEO of Greenland Energy Company. "Stampede brings proven expertise in Arctic conditions and a track record of safety and efficiency, giving us the operational backbone to deliver our 2026 program."
"Delivering in extreme conditions demands precision and respect for the environment," said Lyle Whitmarsh, President and CEO of Stampede. "We're excited to partner with the Greenland Energy team on a program that has the potential to open one of the most exciting unexplored basins in the world, and we look forward to delivering the operational performance that makes that vision a reality."
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.
About Stampede Drilling Inc.
Stampede Drilling Inc. (TSX:SDI) is an energy services company based in Calgary, Alberta, providing premier contract drilling services with a fleet of high-quality rigs and experienced field staff. Focused on safety, efficiency, and value, Stampede serves the oil and natural gas industry in Western Canada and emerging frontier regions. More information is available at www.stampededrilling.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Greenland Energy Company and its management, are inherently uncertain; factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the outcome of any legal proceedings that may be instituted against Greenland Energy Company or others following the closing of the business combination; 2) the ability to meet Nasdaq's continued listing standards following the consummation of the business combination; 3) the risk that the business combination disrupts current plans and operations of Greenland Energy Company as a result of consummation of the business combination; 4) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, the ability of the combined company to grow and manage growth, maintain relationships with partners and retain its management and key employees; 5) costs related to the business combination; 6) changes in applicable laws or regulations; 7) the possibility that Greenland Energy Company may be adversely affected by other economic, business and/or competitive factors; 8) geological and technical uncertainties inherent in oil and gas exploration; 9) commodity price volatility; 10) regulatory and permitting risks associated with operations in Greenland; and 11) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in Pelican Acquisition Corporation's Registration Statement on Form S-4 filed with the U.S. Securities and Exchange Commission ("SEC"), and other documents of Pelican Acquisition Corporation filed, or of Greenland Energy Company, to be filed, with the SEC. Although Greenland Energy Company believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. There may be additional risks that Greenland Energy Company presently does not know of or that Greenland Energy Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Greenland Energy Company does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.
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