Energy-giant Chevron has announced its entry into the Southwest Arkansas lithium play with the acquisition of two leasehold acreage positions through its subsidiary, Chevron U.S.A. Inc.
The acreage involves leases formerly held by TerraVolta Resources, whose investor is an affiliate of The Energy & Minerals Group (EMG), and the second from East Texas Natural Resources (ETNR) LLC.
The estimated leasehold position includes about 125,000 net acres and is situated across regions where the Smackover Formation is present, specifically spanning Northeast Texas and Southwest Arkansas. This formation is of particular interest due to its notably high lithium content and marks Chevron’s first step toward establishing a commercial-scale, domestic lithium business.
Future development will aim to utilize the direct lithium extraction (DLE) process, a set of advanced technologies employed to extract lithium from brines produced from the subsurface.
“This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,” said Jeff Gustavson, president of Chevron New Energies.
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