Greenland Energy secures rig for Arctic exploration
Greenland Energy Co. signed a drilling agreement with Stampede Drilling Inc. to provide a high-performance rig and 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. Under a 5-year agreement, plans call for drilling up to two wells.
Greenland Energy Co. was formed following completion of a deal to combine Pelican Holdco Inc., Pelican Acquisition Corp., March GL Co., and Greenland Exploration Ltd.
According to 80 Mile PLC, Greenland Energy's joint venture partner, the plan calls for each well to drill to a minimum depth of 3,500 m in an effort to delineate the hydrocarbon potential of the basin, which it said is analogous to the Norwegian Haltenbanken and Barents Sea provinces. Four petroleum systems have been identified with key source rocks - Upper Jurassic, Hareelv & Permian Ravnefjeld formations.
Jameson comprises about two million acres in East Greenland. An independent prospective resources report prepared by Sproule ERCE estimated 13.03 billion bbl (P10) of gross un-risked recoverable prospective oil resources across the upper levels of the Jameson basin, 80 Mile PLC said in a February release.
The partner also noted Greenland Energy has mobilized heavy equipment to East Greenland in preparation for drilling in this year’s second half, subject to regulatory approvals, and that Halliburton and IPT Well Solutions have been contracted to perform drilling services.
About the Author
Mikaila Adams
Managing Editor, Content Strategist
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was later named Managing Editor - News. Her role has expanded into content strategy. She holds a degree from Texas Tech University.