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| Registered on: | 4/3/2024 |
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Ok, don’t.
0
I don’t see what that bullish case could be. They churched it up like it was going to be 100% settled at the Li Summit.
It impacts all the producers so maybe they’ve pulled it to all go in together? They talked about the unique partnership with Lanxess leading to issues determining the royalty which would establish a base case for future leases. That was the hold up prior. Mintak and the brass from Tetra and Exxon met with the governor during the summit, I was there.
I’m running out of straws to grasp. Arkansas wants it badly, especially the gov.
It impacts all the producers so maybe they’ve pulled it to all go in together? They talked about the unique partnership with Lanxess leading to issues determining the royalty which would establish a base case for future leases. That was the hold up prior. Mintak and the brass from Tetra and Exxon met with the governor during the summit, I was there.
I’m running out of straws to grasp. Arkansas wants it badly, especially the gov.
They withdrew their royalty rate application. WTF. From an attorney here in Arkansas. Yeah I know I'm a new guy here but infrequently would check in. Rode it from the 0.55 days to the shite we have now. I think it's toast but at this point I'm gonna ride it to the depths of hell.
LITHIUM ROYALTY RATE REMAINS UNKNOWN IN ARKANSAS. Brine (saltwater) from the Smackover formation has been commercially produced for bromine extraction in south Arkansas for decades. In November 2018, the Arkansas Oil & Gas Commission (AOGC) approved the application of Great Lakes Chemical Corp. (now Lanxess) and Arkansas Lithium (subsidiary of Standard Lithium) to develop a pilot plant to test the commercial extraction of lithium from Smackover brine using DLE (direct lithium extraction) technology. Since May 2020, Standard Lithium has operated its DLE demonstration plant at Lanxess’s South Plant near El Dorado, Arkansas. Since that time, interest in using DLE technology to produce lithium chemicals from south Arkansas Smackover brine has sky-rocketed, with significant activity by ExxonMobil and Tetra Technologies, along with interest by Albemarle, which has an existing brine production facility near Magnolia. Last month, I reported on the status of the “lithium rush” in south Arkansas, and related legal topics, at the Arkansas Bar Association’s annual Natural Resources Law Institute in Hot Springs. One highly anticipated event is the setting of a royalty rate by the AOGC for commercial lithium extraction. Under the Arkansas Brine Act, when a brine production unit profitably produces a new commercial constituent (i.e., other than bromine) from the brine stream, the AOGC is charged with determining a fair and equitable royalty. Last October, Arkansas Lithium and Lanxess jointly requested a royalty rate be set by the AOGC, and a hearing was held in December 2023. The AOGC approved ongoing operation of the pilot plant but continued the hearing on royalty until the AOGC monthly meeting on April 23, 2024. In particular, the Commissioners expressed a need to know more about the financial agreement between Standard Lithium and Lanxess, which their witness testified was confidential. Last week, Arkansas Lithium and Lanxess withdrew their application to set a royalty rate without explanation. For now, the first-ever lithium royalty rate for a brine production unit in Arkansas remains a mystery.
LITHIUM ROYALTY RATE REMAINS UNKNOWN IN ARKANSAS. Brine (saltwater) from the Smackover formation has been commercially produced for bromine extraction in south Arkansas for decades. In November 2018, the Arkansas Oil & Gas Commission (AOGC) approved the application of Great Lakes Chemical Corp. (now Lanxess) and Arkansas Lithium (subsidiary of Standard Lithium) to develop a pilot plant to test the commercial extraction of lithium from Smackover brine using DLE (direct lithium extraction) technology. Since May 2020, Standard Lithium has operated its DLE demonstration plant at Lanxess’s South Plant near El Dorado, Arkansas. Since that time, interest in using DLE technology to produce lithium chemicals from south Arkansas Smackover brine has sky-rocketed, with significant activity by ExxonMobil and Tetra Technologies, along with interest by Albemarle, which has an existing brine production facility near Magnolia. Last month, I reported on the status of the “lithium rush” in south Arkansas, and related legal topics, at the Arkansas Bar Association’s annual Natural Resources Law Institute in Hot Springs. One highly anticipated event is the setting of a royalty rate by the AOGC for commercial lithium extraction. Under the Arkansas Brine Act, when a brine production unit profitably produces a new commercial constituent (i.e., other than bromine) from the brine stream, the AOGC is charged with determining a fair and equitable royalty. Last October, Arkansas Lithium and Lanxess jointly requested a royalty rate be set by the AOGC, and a hearing was held in December 2023. The AOGC approved ongoing operation of the pilot plant but continued the hearing on royalty until the AOGC monthly meeting on April 23, 2024. In particular, the Commissioners expressed a need to know more about the financial agreement between Standard Lithium and Lanxess, which their witness testified was confidential. Last week, Arkansas Lithium and Lanxess withdrew their application to set a royalty rate without explanation. For now, the first-ever lithium royalty rate for a brine production unit in Arkansas remains a mystery.
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