Geological features of NE Greenland suggest large petroleum potential, as well as high uncertainty and risk. The area was the prototype for development of methodology used in the US Geological Survey (USGS) Circum-Arctic Resource Appraisal (CARA), and was the first area evaluated. In collaboration with the Geological Survey of Denmark and Greenland (GEUS), eight "assessment units" (AU) were defined, six of which were probabilistically assessed. The most prospective areas are offshore in the Danmarkshavn Basin. This study supersedes a previous USGS assessment, from which it differs in several important respects: oil estimates are reduced and natural gas estimates are increased to reflect revised understanding of offshore geology. Despite the reduced estimates, the CARA indicates that NE Greenland may be an important future petroleum province.