March GL

March GL is a Texas‑based private energy company developing one of the world’s last undrilled, high‑potential oil basins in East Greenland. It is merging into a new public entity called Greenland Energy Company, which plans to list on NASDAQ under the ticker “GLND.”

What March GL Actually Is

March GL is a privately owned Texas corporation focused on the Jameson Land Basin in East Greenland — a massive, undrilled hydrocarbon basin with geological ties to the North Sea. ARCO spent the equivalent of $275M mapping it decades ago, identifying multiple large oil and gas targets.

March GL has:

• Rights to drill in the Jameson Basin
• A deal to earn up to 70% ownership of the basin by funding two exploration wells
• A contract with Halliburton ($HAL) for drilling and logistics support

This is the first serious attempt in decades to drill the basin.

The Big Move: Becoming a Public Company

A $215 million merger is underway between:

• Pelican Acquisition Corp (NASDAQ: PELI)
• Greenland Exploration Limited
• March GL Company

This merger forms Greenland Energy Company, which plans to list on NASDAQ as GLND.

Key points:

• Expected to close Q1 2026
• Implied valuation: $215M
• March GL becomes Field Operations Manager for the entire basin
• The combined company controls 2+ million acres of prospective land

This will make it the first U.S. public company dedicated to Greenland oil & gas development.

Why This Matters Geopolitically

The Jameson Basin is considered:

• One of the largest undrilled onshore basins globally
• A potential multi‑billion‑barrel resource base (based on ARCO’s historical estimates)
• Strategically important for U.S. and allied energy security

The merger is framed as a way to connect American capital to a geopolitically strategic Arctic region.

Current Operational Status

According to the latest reporting:

• Greenland approved mobilization of heavy equipment to build a 3‑mile road to the first drill site
• A 3,500‑meter‑capable rig is being mobilized
• Halliburton is providing project management and logistics
• IPT Well Solutions is overseeing technical execution

This is no longer theoretical — field operations are underway.

What This Means for Traders

Once the merger closes, GLND becomes the pure‑play ticker for Greenland oil development.

Catalysts that could move the stock:

• Drilling commencement
• First well results
• U.S. government involvement (energy security angle)
• Greenland regulatory decisions
• Arctic geopolitics (U.S.–China–EU competition)

This will likely become one of the highest‑beta Arctic energy names once public.

The story is unfolding — updates will follow as the picture sharpens.