Greenland Energy Company (NASDAQ:GLND) saw its stock jump 20% on Monday following an announcement of a service agreement with Halliburton to support the company's 2026 drilling program in the Jameson Land Basin.
The arrangement assigns Halliburton responsibility for integrated consulting services and logistical management tied to the onshore campaign. Specifically, the scope covers planning, coordination, handling and transportation of equipment, services and goods, together with comprehensive well and drilling services for Greenland Energy's Jameson Land operations.
This agreement is positioned as part of a broader, coordinated Arctic operations plan. Greenland Energy said the Halliburton contract builds on earlier strategic arrangements with Stampede Drilling and Desgagnés, which collectively form the company’s integrated approach for executing the first onshore exploration well in the Jameson Land Basin.
Commenting on the deal, Robert Price, CEO of Greenland Energy Company, said: "By working with Halliburton, we can tap into world-class expertise and advanced technologies that will enhance drilling accuracy, safety, and efficiency under Arctic conditions."
The announcement arrives after Greenland Energy's public market milestone earlier in April. The company visited the Nasdaq MarketSite in Times Square on April 8, 2026, when Price rang the Nasdaq Opening Bell to mark its listing.
Greenland Energy expects to drill its first two wells in 2026, following more than a year of logistical planning and site preparation. The Jameson Land Basin, where the campaign will take place, spans approximately 2 million acres and contains multiple identified targets that are supported by a combination of historical and modern seismic data.
The structure of the agreements with Halliburton, Stampede Drilling and Desgagnés reflects a focus on aligning specialist service providers for both technical well execution and the complex logistics required in Arctic environments. Greenland Energy has emphasized the integrated nature of these contracts as central to its operational plan for the upcoming campaign.
Market reaction
Investors responded to the deal announcement with a notable intraday gain for Greenland Energy shares. The 20% rise followed the release of the Halliburton agreement and the broader update on the company’s timeline for field activity in 2026.
Operational outlook
With site preparation and logistical planning described as ongoing for more than a year, Greenland Energy is positioning a coordinated supplier network ahead of drilling. The company cites both historical and modern seismic datasets as the basis for its multiple identified targets across the Jameson Land acreage.