A small Texas company’s bid to create a Greenland oil boom—and a Dr. Phil documentary—is delayed but undaunted

A small Texas company, Greenland Energy, is facing repeated delays in its ambitious plan to extract oil from Greenland, despite initial hopes of starting production this summer. The company, led by CEO Robert Price, has been working on obtaining the necessary permits and navigating the complex regulatory landscape of the Danish territory.

Greenland Energy was granted three-year extensions for exploration licenses in 2024, and the company partnered with U.K.-based 80 Mile to secure the only permits still in effect. However, the project was delayed to the winter season upon government request, and was further pushed back due to a dispute over moving drilling equipment to the region. The government warned the company that all future logistical matters must be approved by the mineral resources authority, but Greenland Energy claims it was a misunderstanding.

Greenland Energy's drilling pilot project had been progressing smoothly until this dispute, but the company remains undeterred and optimistic about the potential for extracting up to 2.9 billion barrels of oil from the Jameson Land Basin. The company is now focused on securing the necessary permits and navigating the challenges of drilling in the harsh Arctic climate.

Despite the recent setbacks, Greenland Energy remains bullish on the prospects of Greenland's oil prospects, and the company's market value has plunged nearly 85% since going public in March.