Verde Clean Fuels, Inc. Announces Suspension of Development of Permian Basin Project
Verde Clean Fuels, Inc. - Class A (VGAS)
Company Research
Source: Business Wire
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 completed in December 2025.“We are thankful to Diamondback for their support of the Permian Basin project. The learnings from the work th
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Sec Filings
- 2/6/26 - Form 8-K
- 11/14/25 - Form 10-Q
- 11/14/25 - Form 8-K
- VGAS's page on the SEC website