ExxonMobil subsidiary applied for identical royalty to that approved by a state commission last month for Standard Lithium

Saltwerx, a subsidiary of ExxonMobil, applied for the royalty last month, just days after the Arkansas Oil and Gas Commission approved an identical royalty for Standard Lithium and Equinor’s joint venture.

Exxon’s newly-approved royalty rate — 2.5% — and the broader royalty payment structure are identical to Standard Lithium’s. Much of the language in the application itself was also identical.