HOUSTON, June 17,
2025 /PRNewswire/ -- TerraVolta Resources, LLC
("TerraVolta" or the "Company") and its investor, The Energy &
Minerals Group ("EMG"), announced that they have closed on a
transaction to sell all equity interests in two subsidiaries that
own certain leasehold acreage positions in east Texas and southwest Arkansas to Chevron U.S.A. Inc., a subsidiary of Chevron
Corporation ("Chevron") (NYSE: CVX).
Chevron's acquisition comprises approximately 100,000 net acres,
establishing a lithium resource position in the United States. The sale enables a major
energy company to take a first step toward establishing a
commercial-scale, domestic lithium business.
"This transaction with one of the top energy companies in the
U.S. and the world furthers the advancement of a significant
portion of the resource that TerraVolta has developed," said
Jamie Liang, President and CEO of
TerraVolta. "There is increasing urgency to develop domestic
critical minerals to unleash American energy prosperity, and
TerraVolta looks forward to working with Chevron and other industry
stakeholders to grow our efforts in response to this demand."
John Raymond, Founder and
Executive Chairman of EMG, added, "When we entered the lithium
business three years ago, we did so with the view towards
developing a domestic integrated supply chain. To that end, EMG has
made multiple investments in the lithium space across the lithium
hard rocks and the lithium brines, which includes our investment in
TerraVolta. In that regard, we applaud the TerraVolta team who has
done an outstanding job of strategically constructing an industry
leading presence in the Smackover Formation of Southern Arkansas and Northeast Texas. By virtue of the sale to
Chevron, we are excited to see a new entrant to the basin that can
help further develop this premium asset into a vital component of
the domestic lithium supply chain."
About TerraVolta Resources
TerraVolta Resources is a U.S. critical minerals exploration and
production company. Based in Houston,
Texas, the Company's mission is to pioneer a more
sustainable future by becoming the leading domestic producer of
lithium and other critical materials. For more information, please
visit www.terravolta.com.
About EMG
The Energy & Minerals Group (EMG) is a specialized natural
resource focused private equity firm with current assets under
management ("AUM") of approximately $13
billion as of March 31, 2025.
In addition, EMG's funds and co-investments have returned
approximately $12 billion to Limited
Partners since inception in 2006. EMG targets equity investments of
$150 million to $1 billion across the natural resource industry,
which includes the extraction and processing of the critical metals
and minerals to facilitate decarbonization as well as upstream and
midstream energy.
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SOURCE TerraVolta Resources