Geneva-based Vitol, global energy and commodity trading company, said last week it is selling its U.S. upstream company VTX Energy Partners to Houston-based Verde Operating Co. for an undisclosed sum. VTX was created in 2022 by Vitol and currently produces 60,000 boed in southern Delaware Basin in Pecos and Reeves counties.
Gene Shepherd, a member of the management team that formed VTX, said July 24, “It is a great time for U.S. energy, and I am really excited by the next chapter for VTX with Verde.”
Houston is home of Vitol’s North American headquarters. Verde is an oil and gas company that pursues assets and operates in the Permian Basin.
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