A Multinational, Houston-based energy corporation recently made a big purchase that underscores the ascent of battery power. Chevron on Tuesday announced its subsidiary Chevron U.S.A. Inc. had ...

Houston-based Chevron U.S.A. has become a player in the burgeoning East Texas lithium industry by purchasing about 125,000 acres in the Smackover Formation.

Chevron has acquired 125,000 net acres in Texas and Arkansas to develop domestic lithium, utilizing a direct lithium extraction process to extract the product from the Smackover Formation.

Chevron said the acquisitions mark the first step in its establishment of a commercial-scale lithium business in the U.S.

Chevron's move into the Smackover follows Exxon's prior entry into the lithium supply sector. In 2023, the oil giant reportedly paid around $100 million for more than 120,000 total acres in ...

Chevron isn't the first supermajor to dive into direct lithium extraction in the Smackover region. Exxon Mobil Corp. launched its lithium brand in November 2023 after acquiring drilling rights to ...

Chevron acquired 125K net acres in the Smackover formation spanning Texas and Arkansas, marking its first step toward establishing a commercial-scale, domestic lithium business.

Chevron Corp. hizo su primera incursión en el sector del litio con dos acuerdos para la ... de TerraVolta Resources LLC y East Texas Natural Resources LLC en la formación Smackover, ...

From staff reports. Houston-based Chevron U.S.A. has become a player in the burgeoning East Texas lithium industry by purchasing about 125,000 acres in the Smackover Formation.