Verde Clean Fuels Suspends Permian Basin Project Development
Verde Clean Fuels (VGAS) announced the suspension of development of its Permian Basin project primarily as a result of changing market conditions driven by increasing demand for natural gas in the Permian Basin. In February 2024, the company and Cottonmouth Ventures, a wholly-owned subsidiary of Diamondback Energy (FANG) entered into a joint development agreement to develop a natural gas-to-gasoline plant in the Permian Basin utilizing Verde's STG+ technology and associated natural gas from Diamondback's operations. Following announcement of the JDA, the company began development work on the Permian Basin Project, which included a front-end engineering and design study that was completed in December 2025.
