by Talk Business & Politics staff (staff2@talkbusiness.net)

ExxonMobil disclosed Monday (Nov. 13) that its 120,000-acre stake in the Smackover Formation of south Arkansas will stand up a lithium drilling operation to support supplies for electric vehicle batteries as soon as 2027.

The dollar amount of the investment was not released.

In early 2023, ExxonMobil acquired the rights to 120,000 gross acres of the Smackover Formation in southern Arkansas, considered one of the most prolific lithium resources of its type in North America. Southwest Arkansas has a history as an oil and natural gas producer.

After using conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs about 10,000 feet underground, ExxonMobil will utilize direct lithium extraction (DLE) technology to separate lithium from the saltwater.

Arkansas lithium field to support ExxonMobil EV battery supply