Canadian firm got US$4M to ready rig for now-stalled Greenland drilling plan
Calgary-based Stampede Drilling said it 'will not deploy its drilling rig or commence drilling in Greenland' unless the U.S. oil company's project receives approval.
Canadian drilling firm Stampede Drilling received US$4 million from American oil company Greenland Energy to prepare a rig for drilling operations in Greenland's Arctic conditions, though the rig is still located in Canada and has not been moved to Greenland. This comes after a dispute between Greenland Energy and the Greenland government, which alleged the U.S. company had moved drilling equipment to Greenland without proper authorization.
Stampede Drilling CEO Lyle Whitmarsh confirmed the funding but emphasized that the rig remains in Canada and no drilling activities have taken place in Greenland. The U.S. company had planned to drill in Greenland's Jameson Land Basin, described as a "one of the largest underexplored conventional hydrocarbon basins in the Western world."
However, the Greenland government has warned that the project lacks the necessary permits and approvals, and has threatened a strong response if the unauthorized drilling continues.
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- Canadian firm got US$4M to ready rig for now-stalled Greenland drilling plan globalnews.ca
