Houston-based Verde Clean Fuels said last week it suspended development of a gas-to-gasoline plant in Martin County in Midland Basin. The suspension was “primarily as a result of changing market conditions driven by increasing demand for natural gas in the Permian Basin.” The facility is a joint development of Verde and Cottonmouth Ventures, subsidiary of Midland’s Diamondback Energy, launched in 2024.
The plant was designed to use Verde’s technology and associated natural gas from Diamondback.
Ernest Miller, CEO of Verde, said Feb. 6, “The learnings from the work that was completed – in particular from the FEED study (front end engineering and design) – will continue to be useful as we explore other opportunities to deploy our technology. This allows us to devote our resources toward other opportunities we have been developing in regions where natural gas is stranded or flared without access to a higher value outlet to market.”