Chevron Buys Acreage in TX to Enter U.S. Lithium Sector


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN)-- Chevron U.S.A., a subsidiary of Chevron Corporation, 
announced today that it has acquired 125,000 net acres from TerraVolta 
Resources and East Texas Natural Resources to enter the U.S. lithium market.

   The acres are 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 
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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