Little Rock, Arkansas – Governor Sarah Huckabee Sanders recently announced a significant development in Arkansas’s energy sector. ExxonMobil, a global leader in the energy industry, is set to drill its first lithium well in the state. This initiative marks a crucial step in tapping into what is believed to be one of the largest lithium supplies in North America.
The lithium well will be constructed in the southern part of Arkansas, specifically at the Smackover formation. This site is known for its unique geologic composition, featuring oolitic and silty limestones that date back to the Jurassic period. The choice of this location underscores the state’s rich geological history and potential for future energy production.
Governor Sanders emphasized the importance of this venture for Arkansas, dubbing South Arkansas as the state’s “all-around energy capital.” The region is already known for its oil and natural gas production, and with ExxonMobil’s investment, lithium will now be added to the mix. Sanders highlighted her administration’s commitment to an all-encompassing energy strategy, focusing on creating high-paying jobs and fostering economic growth through tax cuts and deregulation.
ExxonMobil has set ambitious goals for this project. By 2030, the company aims to meet the manufacturing needs for over 1 million electric vehicles. The first production of lithium is targeted for 2027, signaling a rapid development in the state’s emerging lithium industry.
Boosting the Economy and Reducing Energy Dependence
This development has garnered support from various Arkansas leaders. Representative Steve Womack noted that utilizing local resources like lithium can spur job creation, economic expansion, and make life more affordable by addressing inflation caused by high energy prices. He sees ExxonMobil’s lithium well as enhancing Arkansas’s role in leading American energy innovation.
Representative Bruce Westerman also expressed optimism, noting the potential of Southwest Arkansas to become a global leader in lithium production. He emphasized that investments like ExxonMobil’s are vital in reducing dependence on foreign sources for essential minerals. The project is expected to create new jobs and have a broad economic impact, especially in Arkansas’s 4th District.
The commemoration of this development by Arkansas leaders underlines the significance of this project, not just for the state but for the broader energy landscape. ExxonMobil’s venture into lithium production in Arkansas is poised to be a pivotal moment in energy innovation, job creation, and economic growth, positioning the state at the forefront of sustainable energy development.
