Chevron (CVX) said on Tuesday that it will acquire acreages in the lithium-filled Smackover formation in the U.S., joining peers such as Exxon Mobil amid efforts to boost domestic production of ...

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 USA acquires lease rights to 125,000 acres in Texas and Arkansas for lithium production, joining ExxonMobil's DLE project in Arkansas.

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 ...