Barrell Energy has expanded its land position in the Smackover lithium brine formation in Texas, driven by the completion of a Series A funding round for its portfolio company, Barrell Lithium, earlier this year.
The financing has allowed Barrell Lithium to increase its leasehold to 44,000 net acres, solidifying a strategic position in the East Texas portion of the lithium brine fairway.
“The continued growth in our investor group will continue to provide the capital necessary to solidify our presence and capitalize on this exciting domestic lithium opportunity,” said Kirk Barrell, President of Barrell Energy.
“The Smackover play has seen escalating activity and competition, validated by major operators like ExxonMobil, Chevron, and Equinor leasing across the entire lithium fairway. We are strategically using our deep geological understanding and local land expertise to expand our footprint efficiently across multiple high-potential prospects.”
Source: Barrell Energy
