Lewisville, Ark. – Feb. 9, 2026– After announcing strategic deals to secure strong leasehold positions in the Smackover Formation in south Arkansas, the nation’s largest oil and gas conglomerates are planning to spend potentially billions of dollars to exploit lithium resources in the region in 2026.
In just a few months, Columbia and Lafayette are set to become the heart of the American energy shift as ExxonMobil and Chevron start early-stage development of their respective lithium projects this summer, based on the company’s recently announced capital spending plans and securities filings.
According to a highly regarded study published in late 2024 by the US Geological Survey and the Arkansas Department of Energy and Environment’s Office of the State Geologist, an estimated 5-19 million tons of lithium reserves are located beneath the geological play in southwestern Arkansas. If commercially recoverable, this amount of lithium could meet the projected 2030 global demand for lithium in car batteries nine times over…