Barrell Energy Inc. 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. 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.”
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