""I've drilled for millions of barrels of oil while drilling wildcat wells my whole life, but I've never had the opportunity to drill for billions of barrels of oil," Price told Fortune. "It's truly an extraordinary opportunity.""
""Regardless of the overall political climate out there, I believe that the Greenland people deserve to know whether or not they have one of the largest oilfields in the world," Price said."
Robert Price, a veteran oilman, will become CEO of Greenland Energy after pending deals. Greenland Energy is the first publicly traded company created to drill for oil onshore in Greenland. The first well is tentatively scheduled for next summer. Greenland may contain one of the world's largest oilfield reserves, and the project exploits a loophole in Greenlandic law intended to ban oil drilling. Greenland is sparsely populated and overseen by the Kingdom of Denmark. The territory's rapidly melting ice sheet exemplifies global climate change largely caused by fossil fuels. Company leaders state the project is unrelated to proposed U.S. annexation and describe operations as relatively small-scale in eastern Greenland distant from population centers.
Read at Fortune
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