DENVER–(BUSINESS WIRE)–#criticalminerals–Barrell Energy Inc. today announced a significant expansion of its land position in the highly prospective Smackover Lithium Trend, driven by the successful completion of a Series A funding round for its portfolio company, Barrell Lithium LLC.
The capital raise has enabled Barrell Lithium to achieve its primary objective of increasing its leasehold to 44,000 net acres—solidifying a large strategic position in the East Texas portion of the lithium brine fairway. This milestone builds upon the substantial, geologically-focused acreage the company has secured and this comes at a time when the country is aggressively seeking US-based critical minerals.
Strategic Land Position & Industry Validation
“Our successful Series A round and subsequent acreage expansion validate our strategic approach in the Smackover,” said Kirk Barrell, President of Barrell Energy Inc. “With our dedicated local land team and four decades of geological expertise, we’ve efficiently scaled our position. 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.”
Barrell Energy’s team has conducted over four years of geological evaluation focused on lithium source rock, structure, reservoir quality, and lithium resources across fifteen counties. The company maintains a local leasing office in Atlanta, Texas, fostering strong community ties at the geographic center of the play.
Mr. Barrell also highlighted the increasing competition, noting, “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.”
About Barrell Lithium LLC
Barrell Lithium LLC, a Texas-based portfolio company of Barrell Energy Inc., focuses on exploring and developing lithium brine resources within the Smackover formation in East Texas.
About Barrell Energy Inc.
Founded as a Texas corporation in 1997 by Kirk Barrell, Barrell Energy Inc. is a privately held energy company leveraging 40 years of geological and land acquisition experience. The company identifies and secures early strategic positions across a diverse energy portfolio including oil, natural gas, lithium brine, carbon sequestration, utility-scale solar, battery storage, and data centers.
CAUTIONARY STATEMENT
This press release contains certain forward-looking statements regarding lithium brine leasing, exploration, development and production activities, anticipated and potential production and the economic potential of properties. Accuracy of these forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. Barrell Energy Inc. cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this press release and, except to the extent required by applicable law, does not intend to update or otherwise revise these statements more frequently than quarterly. Important factors that might cause future results to differ from these forward-looking statements include adverse conditions such as well drilling that could lead to mechanical failures or increased costs, variations in the market prices of lithium products, drilling results, unanticipated fluctuations in flow rates of producing wells, lithium carbonate reserves expectations, the ability to satisfy future cash obligations and environmental costs, and other general exploration and development risks and hazards.
Contacts
Media Contact:
Kirk A. Barrell
281-798-6741
