US energy firm Barrell Energy has launched a Series A funding round for its portfolio company, Barrell Lithium, to finance the expansion of the company’s strategic acreage position within the Smackover lithium brine project in East Texas.

The round follows seed funding that the company closed 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 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. “This Series A funding will provide the capital necessary to significantly scale our position and solidify our presence in this exciting lithium brine 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,” Barrell stated. “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.”

Source: Barrell Lithium