Latest news with #TerraVolta
Yahoo
23-06-2025
- Business
- Yahoo
Chevron Boosts Dividend Potential with Strategic Lithium Acquisition
Chevron Corporation (NYSE:CVX) is one of the 10 best dividend stocks according to Jim Cramer. On June 17, 2025, the company announced the closing of a transaction to acquire all equity interests in two subsidiaries of TerraVolta Resources and its investor, The Energy & Minerals Group. A tanker truck making its way through a refinery facility. . The American multinational energy corporation, Chevron Corporation (NYSE:CVX) engages in the exploration and extraction of crude oil and natural gas. Headquartered in Texas, the company focuses on multiple aspects of the oil and gas industry, from production and refining to marketing and transportation. Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE:CVX) has completed the acquisition of 125,000 net acres in Northeast Texas and Southwest Arkansas from TerraVolta Resources and East Texas Natural Resources on June 17, 2025. With this acquisition, the company enters the domestic lithium sector, targeting the Smackover Formation known for its high lithium content. The company plans to use direct lithium extraction (DLE), an advanced method with a smaller environmental footprint, to establish a lithium business with commercial value. Through the investment, Chevron Corporation (NYSE:CVX) could potentially support the growing demand for critical minerals essential for electrification. With a payout ratio of 75.43%, indicating the company's capabilities to handle the dividend payments, Chevron Corporation (NYSE:CVX) offers a dividend yield of 4.69%. The increase in dividends for 38 consecutive years further makes the stocks appealing to investors looking for less risky, long-term, stable income. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: andDisclosure. None.
Yahoo
22-06-2025
- Business
- Yahoo
Chevron Boosts Dividend Potential with Strategic Lithium Acquisition
Chevron Corporation (NYSE:CVX) is one of the 10 best dividend stocks according to Jim Cramer. On June 17, 2025, the company announced the closing of a transaction to acquire all equity interests in two subsidiaries of TerraVolta Resources and its investor, The Energy & Minerals Group. A tanker truck making its way through a refinery facility. . The American multinational energy corporation, Chevron Corporation (NYSE:CVX) engages in the exploration and extraction of crude oil and natural gas. Headquartered in Texas, the company focuses on multiple aspects of the oil and gas industry, from production and refining to marketing and transportation. Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE:CVX) has completed the acquisition of 125,000 net acres in Northeast Texas and Southwest Arkansas from TerraVolta Resources and East Texas Natural Resources on June 17, 2025. With this acquisition, the company enters the domestic lithium sector, targeting the Smackover Formation known for its high lithium content. The company plans to use direct lithium extraction (DLE), an advanced method with a smaller environmental footprint, to establish a lithium business with commercial value. Through the investment, Chevron Corporation (NYSE:CVX) could potentially support the growing demand for critical minerals essential for electrification. With a payout ratio of 75.43%, indicating the company's capabilities to handle the dividend payments, Chevron Corporation (NYSE:CVX) offers a dividend yield of 4.69%. The increase in dividends for 38 consecutive years further makes the stocks appealing to investors looking for less risky, long-term, stable income. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: andDisclosure. None. Sign in to access your portfolio
Yahoo
18-06-2025
- Business
- Yahoo
Chevron acquires lithium leasehold acreage in US
Chevron U.S.A., a subsidiary of Chevron, has entered the domestic lithium market by acquiring two leasehold acreage positions known for their high lithium content. The acquisition marks Chevron's inaugural venture into the lithium sector. The initial acquisition is from TerraVolta Resources, backed by an investor linked to the Energy & Minerals Group (EMG), while the subsequent one involves East Texas Natural Resources (ETNR). The acquired acreage, estimated at around 125,000 net acres, is located in areas where the Smackover Formation is present, specifically spanning north-east Texas and south-west Arkansas. This geological formation is renowned for its significant lithium content, positioning Chevron to establish a commercial-scale domestic lithium operation. Chevron New Energies president Jeff Gustavson said: 'This acquisition represents a strategic investment to support energy manufacturing and expand US-based critical mineral supplies. 'Establishing domestic and resilient lithium supply chains is essential not only to maintaining US energy leadership but also to meeting the growing demand from customers. This opportunity builds on many of Chevron's strengths including subsurface resource development and value chain integration.' Chevron plans to employ the direct lithium extraction (DLE) process for future development. This advanced technology is designed to extract lithium from brines produced from the subsurface, offering a more efficient production method with a potentially smaller environmental footprint than traditional extraction methods. TerraVolta president and CEO Jamie Liang said: 'This transaction with one of the top energy companies in the US and the world furthers the advancement of a significant portion of the resource that TerraVolta has developed. '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.' The transaction between TerraVolta, its investor EMG and Chevron has been finalised, transferring all equity interests in two subsidiaries that own the leasehold acreage positions to Chevron. "Chevron acquires lithium leasehold acreage in US" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
17-06-2025
- Business
- Bloomberg
Chevron Makes First Foray Into Lithium With Smackover Deals
Chevron Corp. made its first foray into lithium with two acreage deals in northeast Texas and southwest Arkansas aimed at building a domestic 'commercial scale' business. Chevron acquired 125,000 net acres from TerraVolta Resources LLC and East Texas Natural Resources LLC in the Smackover Formation, an underground rock formation that holds high lithium concentration, the Houston-based company said in a statement Tuesday.
