Chevron Joins Lithium Race With 125,000-Acre Texas-Arkansas Deal

Chevron U.S.A., a subsidiary of Chevron Corporation (NYSE:CVX), announced its intention to enter the lithium market last week by acquiring lease rights to approximately 125,000 net acres spanning northeast Texas and southwest Arkansas.

The rights, acquired from TerraVolta Resources and East Texas Natural Resources, give the firm access to the Smackover Formation, a geologic unit rich in lithium-bearing brine.

"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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"Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also ...