Greenland Energy Company (NASDAQ: GLND) announced plans to drill two wells in Greenland's Jameson Land Basin later this year as part of its Arctic exploration strategy. The company expects to earn up to a 70% working interest in the basin, which it estimates holds potential resources of up to 13 billion barrels of oil.

The company has entered into an agreement with Halliburton Company for integrated consulting, drilling and logistical support for its 2026 exploration campaign. The announcement comes as energy markets face renewed concerns about supply disruptions from the Middle East, particularly around the Strait of Hormuz shipping corridor.

According to the press release, the Strait of Hormuz handles approximately 20% of global petroleum liquids consumption. These supply concerns have intensified calls for the United States and Europe to strengthen long-term energy independence.

Greenland Energy Company focuses on developing Greenland's hydrocarbon resources, with particular emphasis on the Jameson Land Basin. The company describes itself as aiming to advance oil and gas exploration and create a publicly traded platform for Arctic energy development.

The announcement was made through a press release distributed via Globe Newswire and included placement in an editorial published by EnergyWireNews titled "Global Instability Accelerates Push for Western Energy Security."