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Business Wire
2 months ago
Verde Clean Fuels, Inc. Announces Suspension of Development of Permian Basin Project
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”) t.