Business UpdateJun 23, 2026, 04:22 PM
Greenland Energy Updates on Jameson Land Drilling, $80M Funding
AI Summary
Greenland Energy Company has released an updated investor presentation detailing its Jameson Land Basin opportunity in East Greenland. The company is advancing its Phase I exploration program, with OPW-1 drilling expected in Q4 2026 and OPW-6 in Q1 2027. The program is fully funded by approximately $80 million raised in the past 12 months, with estimated costs of $40 million for Well 1 and $20 million for Well 2. The presentation highlights a potential of up to 13.0 billion barrels of gross un-risked 3U prospective recoverable oil and outlines partnerships for execution.
Key Highlights
- Updated investor presentation details Jameson Land Basin opportunity in East Greenland.
- Phase I exploration drilling for OPW-1 expected in Q4 2026.
- Phase I exploration drilling for OPW-6 expected in Q1 2027.
- Potential of up to 13.0 billion barrels of gross un-risked 3U prospective recoverable oil.
- Phase I exploration program is fully funded by approximately $80 million raised.
- Estimated drilling costs: $40 million for Well 1 and $20 million for Well 2.
- Company can earn up to 70% basin interest upon completion of two wells.
- Partnerships established with Halliburton, IPT, and Stampede Drilling for execution.
Price Impact
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