Chevron enters US lithium sector with leasehold acquisition

Chevron makes debut in US lithium sector

MAGNOLIA, June 19, 2025 – Chevron has entered the US lithium sector with a 125,000-acre leasehold in Texas and Arkansas’s lithium-rich Smackover Formation, the company said on Tuesday.

The leasehold, equivalent to more than 500 square kilometres, was acquired from TerraVolta Resources and East Texas Natural Resources. Chevron plans to use direct lithium extraction technology to enable faster, more efficient production with a smaller environmental footprint. The move supports the company’s strategy to strengthen domestic energy manufacturing and critical mineral supplies.

“This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,” Chevron New Energies president Jeff Gustavson said. “This opportunity builds on many of Chevron’s strengths including subsurface resource development and value chain integration.”

Chevron U.S.A. is a subsidiary of Chevron Corporation, a global integrated energy company engaged in the exploration, production and transportation of hydrocarbons. It also operates across refining, marketing, chemicals and low-carbon energy sectors worldwide.

Demand for lithium continues to rise globally, driven by the accelerating adoption of electric vehicles and growth in energy storage systems. The International Energy Agency estimates lithium demand could increase more than fivefold by 2030 under existing climate policies, with even sharper growth under net-zero scenarios.

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