Texas-based Greenland Energy, listed on the Nasdaq, has seen its pilot drilling project in Greenland pushed back to the end of 2027, an 18-month delay. The company’s market cap has plummeted by 85 % to approximately $54 million since its March listing. CEO Robert Price remains confident, stating the test well could hold up to 2.9 billion barrels of oil. The Greenland government requested the drilling be moved to winter for environmental reasons, while permitting slowdowns and a dispute over equipment movement permits also contributed to the setback. The planned documentary with Phil McGraw, known as Dr. Phil, has been put on hold.
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