Apr 8, 2025 5:00 AM Eastern Daylight Time
DENVER–(BUSINESS WIRE)–Barrell Energy Inc. today announced the launch of a Series A funding round for its portfolio company, Barrell Lithium LLC. The capital raised will fuel significant expansion of the company’s strategic acreage position within the highly prospective Smackover lithium brine play in East Texas. This initiative follows a successful seed funding round for Barrell Lithium LLC completed in November 2024.
The primary objective of the Series A round is to enable Barrell Lithium to increase its leasehold to approximately 40,000 acres across its key prospect areas.Share
The primary objective of the Series A round is to enable Barrell Lithium to increase its leasehold to approximately 40,000 acres across its key prospect areas. This builds upon the substantial, geologically-focused acreage already secured over the past three years.
“We successfully acquired additional acreage across three core prospect areas in East Texas after our seed round,” said Kirk Barrell, President of Barrell Energy Inc. “This Series A funding will provide the capital necessary to significantly scale our position and solidify our presence in this exciting lithium brine play.”
Barrell Lithium leverages Barrell Energy’s four decades of geological and land acquisition expertise. The team has conducted four years of intensive geological evaluation of structure, reservoir quality, and potential lithium resources within the Smackover formation across fifteen counties. The company maintains a local leasing office in Atlanta, Texas, fostering strong community relationships in the center of the play.
“The Smackover play has seen escalating activity and competition over the past year, validated by major operators like ExxonMobil and Equinor entering the lithium fairway,” stated Barrell. “We are strategically using our deep geological understanding of the Smackover and our experienced local land team to efficiently expand our footprint 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 and natural gas, lithium brine, carbon sequestration, utility-scale solar, battery storage, and data centers. Through its portfolio companies, Barrell Energy maintains producing interests in oil and natural gas, 2.2 gigawatts of solar, battery storage sites, two lithium brine projects, and five carbon sequestration projects.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements regarding lithium brine exploration, development and production activities, anticipated and potential production and flow rates 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
[email protected]
www.barrellenergy.com