Chevron USA, a subsidiary of Chevron Corporation, has acquired two leasehold acreage positions in the lithium sector in the US. The first is from TerraVolta Resources, an investor of which is an affiliate of The Energy & Minerals Group (EMG), and the second is from East Texas Natural Resources (ETNR) LLC.

The estimated leasehold position includes ~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. Chevron seeks to deploy this emerging technology, which allows for faster and more efficient production and is expected to have a smaller environmental footprint compared to traditional extraction methods.

DLE selectively removes lithium from brine while reinjecting the remaining water back into the reservoir.

This acquisition represents a strategic investment to support energy manufacturing and expand US-based critical mineral supplies. Establishing domestic and resilient lithium supply chains is essential not only to maintaining US energy leadership but also to meeting the growing demand from customers. This opportunity builds on many of Chevron’s strengths including subsurface resource development and value chain integration.

—Jeff Gustavson, president of Chevron New Energies