Exxon Plans Massive Lithium Plant in Arkansas to Improve Energy Transition Security for the U.S.

Fresh on the heels of buying Dallas based pipeline operator Denbury (DEN) for $4.9 billion, Exxon Mobil is planning to build one of the world’s largest lithium processing facilities in Arkansas according to people familiar with the matter the Wall Street Journal reported Thursday. The plant would have a capacity to produce 75,000 to 100,000 metric tons of lithium a year. This would equate to around 15% of all finished lithium produced globally last year at scale. Australia is the … Continue reading “Exxon Plans Massive Lithium Plant in Arkansas to Improve Energy Transition Security for the U.S.”

Exxon Puts Texas Barnett Shale Gas Properties Up For Sale

Exxon Mobil on Monday put it’s Barnett Shale holdings that include 2,700 wells across about 182,000 acres in North Texas up for sale. The producing properties are valued at between $400 million and $500 million, according a person familiar with the matter Reuters said. Barnett Shale was the site the first horizontally drilled shale wells. Exxon is in a position to take advantage of skyrocketing natural gas properties across the world. U.S. gas prices are up 75% year to date, … Continue reading “Exxon Puts Texas Barnett Shale Gas Properties Up For Sale”

Trump and Oil Company CEOs To Meet Friday

President Trump will meet with company CEOs, uncluding Exxon,Chevron and Occidential on Friday reports the WSJ.This comes at a time when oil prices have collapsed from the Coronavirus and a Russian and Saudi price war with bankruptcies building in the US energy sector. The meeting is to take place at the White House. Expect comments from Trump into the meeting.