Posted on November 28, 2023
Company Spotlight, Energy, Energy Transition, EVs, Lithium, Smackover Formation

Speaking at the APEC 2023 CEO Summit earlier this month, ExxonMobil CEO Darren Woods shared his thoughts on today’s world-scale problems that include climate change, energy poverty, and the limitations of renewable energies. He left his peers with a few guiding principles to consider. The most important, Woods stressed, is to “leverage the power of competitive markets to let the best solutions win.” ...

by
0
Posted on May 24, 2023
Company Spotlight, Crude Oil, Energy, Mergers & Acquisitions, Natural Gas, Smackover Formation

We all know the U.S. is beyond rich in natural resources. Witness the shale revolution that has unlocked more crude oil and natural gas than we as a nation can even consume. We also happen to be sitting on top of one of the world’s largest deposits of lithium—which, ironically, we must import to the tune of 3,600 metric tons last year. Reese Energy Consulting today is following the latest on lithium here at home and those who are reawakening an industry we literally exported out of the country in the 70s. Okla. City-based Galvanic Energy has announced the $100 million sale of its drilling rights across 120,000 acres in the brine-rich Smackover Formation in Ark., to ExxonMobil. Seems Exxon aspires to become a major lithium supplier to the U.S. electric vehicle market—something it calls “Drilling for electric cars.”   At the same time, same formation, Ark.-based Standard Lithium has drilled...

by
0