Greenland Energy Shares Soar on US-Denmark Security Pact

Shares of Greenland Energy (GLND) skyrocketed 153% to approximately $3.04 in premarket trading on Monday, following President Trump's announcement of a security pact between the United States, Denmark, and Greenland.

The agreement provides the US with permanent authority to implement necessary measures for Greenland's defense, but it does not contain any direct financial support or commercial guarantees for Greenland Energy.

The company holds exploration rights in Greenland's Jameson Land Basin, where it plans to drill two exploratory wells and potentially secure up to a 70% working interest. The site has been linked to resource estimates suggesting up to 13 billion barrels of oil, but these figures are considered potential resources rather than verified commercial reserves.

The security framework has refocused market attention on Greenland's natural resource wealth, which is a key consideration in Washington's Arctic security calculations regarding the country.