Greenland Energy Appoints Former BP Executive as CFO to Drive Public Transition

Ashiq Merchant brings 25 years of multinational experience to support Greenland Energy's growth plans

Mar. 13, 2026 at 1:28pm

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Greenland Energy Company, a Texas-based entity focused on developing strategic positions in North American energy assets, has appointed Ashiq Merchant, a former BP executive, as its new Chief Financial Officer. Merchant will oversee all financial operations and reporting, capital markets activities, governance, regulatory compliance, and capital allocation as the company transitions to becoming a publicly traded entity following its proposed business combination with Pelican Acquisition Corporation.

Why it matters

Merchant's appointment comes at a critical juncture for Greenland Energy as it seeks to unlock the potential of the Jameson Land Basin in Greenland and deliver long-term value to shareholders. His extensive experience in the oil and gas industry, including roles across upstream and downstream businesses in multiple international jurisdictions, will be invaluable in establishing the financial discipline and strategy required to support the company's ambitious 2026 operational goals.

The details

As CFO, Merchant will play a key role in executing the financial strategy needed to fund Greenland Energy's 2026 exploratory drilling program in the Jameson Land Basin. He will also be responsible for optimizing the company's capital structure, overseeing financial reporting and compliance, and supporting value creation for shareholders as Greenland Energy transitions to becoming a publicly traded company.

  • Greenland Energy and Pelican Acquisition Corporation announced the proposed business combination on March 13, 2026.
  • The companies expect to close the transaction following Pelican's Extraordinary General Meeting of Shareholders on March 17, 2026.
  • Greenland Energy will trade on the Nasdaq under the ticker symbol 'GLND' upon the closing of the transaction.

The players

Greenland Energy Company

A Texas-based entity focused on developing strategic positions in North American energy assets, including the Jameson Land Basin in Greenland.

Pelican Acquisition Corporation

A blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Ashiq Merchant

The new Chief Financial Officer of Greenland Energy, bringing over 25 years of senior multinational financial leadership experience from his time at BP.

Robert Price

The incoming CEO of Greenland Energy, who highlighted Merchant's financial expertise as critical to unlocking the potential of the Jameson Land Basin.

March GL Company

A privately-owned Texas Corporation that has an agreement with 80 Mile to fund and manage the exploration drilling in the Jameson Land Basin.

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What they’re saying

“Unlocking a world-class frontier requires world-class financial discipline. Ashiq brings exactly the kind of rigorous financial leadership we need as we transition into a publicly traded company. His experience will be invaluable as we optimize our capital structure to fund our 2026 exploratory drilling program and deliver long-term value to our shareholders.”

— Robert Price, Incoming CEO of Greenland Energy (Globe Newswire)

“I am thrilled to join Greenland Energy at such a transformative inflection point. The company presents a unique value proposition: a world-class asset with the resource potential to impact global energy security. I look forward to working with Robert, the Board, and our partners to build a strong financial foundation that supports our ambitious 2026 operational goals.”

— Ashiq Merchant, Chief Financial Officer of Greenland Energy (Globe Newswire)

What’s next

The proposed business combination between Greenland Energy and Pelican Acquisition Corporation is expected to close following Pelican's Extraordinary General Meeting of Shareholders on March 17, 2026, at which point Greenland Energy will begin trading on the Nasdaq under the ticker symbol 'GLND'.

The takeaway

Greenland Energy's appointment of a seasoned financial executive like Ashiq Merchant as CFO signals the company's commitment to establishing the necessary financial discipline and strategic focus to capitalize on the resource potential of the Jameson Land Basin in Greenland. This move underscores Greenland Energy's ambition to become a publicly traded energy company that can enhance global energy security through the responsible development of Greenland's natural resources.