Verde Clean Fuels, Inc. Announces Suspension of Development of Permian Basin Project
Verde Clean Fuels, Inc. Announces Suspension of Development of Permian Basin Project Feb 6, 2026 4:15 PM Eastern Standard Time HOUSTON--( BUSINESS WIRE )-- Verde Clean Fuels , Inc. (NASDAQ: VGAS) (“Verde” or the “Company”) announced today 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, LLC ("Cottonmouth"), a wholly-owned subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) entered into a joint development agreement (“JDA”) 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 (the “Permian Basin Project”). Following announcement of the JDA, the Company began development work on the Permian Basin Project, which included a front-end engineering and design (“FEED”) study that was...