Greenland Energy Company (NASDAQ: GLND) shares are trading higher by more than 144% during Monday's premarket session as a U.S. agreement with Denmark and Greenland puts a fresh spotlight on the island's strategic value and its underground resource potential.

Jumps on U.S.-Greenland Minerals Deal

This weekend, the Trump administration disclosed a U.S. agreement with Denmark and Greenland that would give the U.S. power to bar who can tap Greenland's critical minerals and mining sectors, with provisions that appear designed to block China or Russia from doing business or establishing a military footprint.

U.S. Secretary of State Marco Rubio said on Saturday that Greenland will "forever be part of the strategic defense area of North America" and that the deal "permanently and completely" addresses U.S. national security concerns there.

Permit Timeline Extended

In August, Greenland Energy CEO Robert Price said the company remains committed to responsible oil exploration and compliance with Greenland's regulations.

At that time, the company disclosed its Greenland project will require a more extensive permitting review based on an update from JV partner 80 Mile plc, which is leading the process. The partners are now targeting winter 2027 for the permit.

Price added that the extended review period will be used to refine project plans, logistics and infrastructure requirements while strengthening relationships with local communities, partners and authorities.

What Greenland Energy Company Does and Why The Deal Matters

Greenland Energy is an exploration-stage oil and gas company focused on the development and advancement of its exploration activities in Greenland. The company has not generated revenue from oil and gas production to date.

The company has been advancing its Arctic exploration strategy as global attention on energy security increases.

In April, Greenland Energy said it is targeting the Jameson Land Basin in Greenland, where it plans to drill two wells in 2026 and could earn up to a 70% working interest in a project estimated to contain as much as 13 billion barrels of oil.

GLND Stock Price Activity: Greenland Energy shares were up 144.17% at $2.93 during premarket trading on Monday, according to market data.