News Release

Untapped: Lithium Extraction Uncovers $19B Potential in Permian Alone

10% tax credit within Inflation Reduction Act uncovers hidden mineral opportunities

byEnverus

Calgary, Alberta (December 14, 2022) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a report uncovering the economic and environmental potential behind direct lithium extraction (DLE) in the oil- and gas-rich Permian basin. The report dives into E&P operators capitalizing on the hidden potential within their wastewater, and at approximately 225,000 tons of estimated lithium carbonate per year, EIR is pointing to the possibility of an untapped, $19 billion industry in this single basin alone.

“Direct lithium extraction is the key to unlocking lithium security in North America,” said Graham Bain, vice president at EIR. “DLE is more environmentally friendly than traditional lithium mines, projects don’t take as long to commission and they have the potential to generate billions of dollars in revenue to E&P companies through the extraction of lithium in wastewater.”

Key takeaways from the report:

  • Critical minerals projects in the U.S. benefit from policy enhancements with the Inflation Reduction Act, which brought in a 10% tax credit on mining and refining of lithium, and through federal funding of up to $1 billion per year with the Defense Production Act.
  • Canada’s Critical Minerals Strategy will provide up to CA$3.8 billion over eight years in the form of infrastructure investments and exploration tax credits.
  • E&P companies could turn wastewater into a revenue stream by leveraging DLE. EIR estimates wastewater in the Delaware Basin could produce ~225,000 tons of lithium carbonate per year, generating $19 billion in additional revenue.
  • Permian lithium potential was calculated through the connection of academically sourced lithium concentrations with water production data from Enverus Foundations.

Graph showing yearly lithium production and revenue

Members of the media should contact Jon Haubert to schedule an interview with one of Enverus’ expert analysts.

About Enverus
Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing, and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.

About Enverus Intelligence Research
Enverus Intelligence Research, Inc. is a subsidiary of Enverus and publishes energy-sector research that focuses on the oil and natural gas industries and broader energy topics including publicly traded and privately held oil, gas, midstream and other energy industry companies, basin studies (including characteristics, activity, infrastructure, etc.), commodity pricing forecasts, global macroeconomics and geopolitical matters.  Enverus Intelligence Research, Inc. is registered with the U.S. Securities and Exchange Commission as an investment adviser.

Media Contact: Jon Haubert | 303.396.5996

Picture of Enverus

Enverus

Energy’s most trusted SaaS platform — creating intelligent connections that uncover insights and opportunities to deliver extraordinary outcomes.

Related News

Enverus Press Release - Operational efficiencies are driving cost excellence in North America’s onshore drilling
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released new research that analyzes which oil and gas plays show the greatest rate of increase in drilling speeds and whether well...

Enverus_Press_Release_Permian_Black_Box_Press_Release_Thumbnail
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released its forecasts of natural gas pipeline capacity, constraints and basis in the Permian basin.

Enverus News Release - Manuj Nikhanj named Enverus CEO
News Release
ByEnverus

AUSTIN, Texas (May 29, 2024) — Enverus, the most trusted energy-dedicated SaaS and generative AI company, today announced the promotion of Manuj Nikhanj to the position of CEO, effective July 1, 2024. Nikhanj, who currently serves as Enverus’ president, will...

Enverus Press Release - Enverus EVOLVE - Creating the future of energy
News Release
ByEnverus

Following its EVOLVE 2024 conference, Enverus, the leading generative AI and energy-dedicated SaaS company, announced that it was releasing complimentary access to its new Enverus Instant Analyst™ technology to its Oil & Gas Research (OGR) and Energy Transition Research (ETR)...

Enverus Press Release - Load impact imminent: Data center growth at the mercy of power supply constraints
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, has released a collection of research focused on expected growth in data center capacity and associated power demand.

Enverus Intelligence Research (EIR) News Release - Electrifying the Permian
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, has released a report that quantifies the potential electrification of oil and gas assets in the Permian Basin based on operators' emissions reduction...

Enverus Intelligence Research Press Release - 2024 races to a record start with $51B in upstream M&A
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, is releasing its summary of 1Q24 upstream M&A activity. Following last year’s blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on...

Enverus Media Advisory-Press Release - EIR’s Andy McConn testifies before Congress on navigating Gulf of Mexico’s offshore challenges
News Release
ByEnverus

Enverus, the leading generative AI and energy-dedicated SaaS company, announced today that Andy McConn, director and head of Commercial Intelligence at Enverus Intelligence Research (EIR), will testify before the U.S. House of Representatives Natural Resources Subcommittee on Energy and Mineral...

Enverus News Release - Defying peak oil predictions
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, has released a new report highlighting the organization’s view that it does not expect global oil demand to peak or plateau by the...

Find Out How Enverus Can Help Your Business

Subscribe to the Energy Blog

A weekly update on the latest “no-fluff” insight and analysis of the energy industry.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Get Started

Register Today

Sign Up

Power Your Insights

Connect with an Expert

Access Product Tour

Speak to an Expert