US Market News
1週前
Nevada's Only Refinery Is Switching On -- Just as the West Loses the Capacity It Can't ReplaceJune 22, 2026 10:38 AM
PR Newswire (US) Issued on behalf of Sky Quarry Inc.After a period of repairs and balance-sheet work, Sky Quarry says it is entering its production phase — with crude already on-site, storage in place, and a strategic position in a fuel market the West keeps shrinkingUSA News Group News Commentary BOCA RATON, Fla., June 22, 2026 /PRNewswire/ -- The American refining map is shrinking, and the math behind that simple fact is becoming one of the more overlooked stories in energy. Across the Western United States, refineries have been closing or announcing closures, pulling meaningful capacity out of a market where demand for gasoline, diesel, and jet fuel has stayed stubbornly resilient. When supply contracts and demand does not, the assets that remain become more valuable — and harder to replace. Against that backdrop, a small Nevada-focused energy company says it is flipping the switch on an asset that sits squarely in the gap. On its latest update, Sky Quarry Inc. (NASDAQ: SKYQ) told shareholders it is entering the production phase at its Foreland Refinery — described as the only operating refinery in the State of Nevada — marking a transition the company has spent years working toward. Key TakeawaysEntering production: Sky Quarry says it is moving into the production phase at the Foreland Refinery near Ely, Nevada — the only operating refinery in the state — with refinery operations expected to commence in July.Inventory already in place: The company reports approximately 10,000 barrels of crude oil and in-process inventory on-site and moving through the refining process, which it frames as both operational readiness and an immediate working asset.Storage and readiness: Foreland has more than 100,000 barrels of total storage capacity, which the company expects to provide operational flexibility and describes as an important component of the refinery's long-term value.A scarce strategic position: Nevada is one of the most fuel-import-dependent states in the country, and the company argues Foreland's in-state refining capacity is increasingly valuable as Western refining capacity exits the market.From preparation to performance: Management frames this as an inflection point — shifting focus from repairing and funding the asset toward production, customer deliveries, operating margins, and cash flow — though it remains a micro-cap working through that transition.Why a Single Refinery Matters So MuchTo understand why Sky Quarry frames this moment as pivotal, you have to understand the unusual scarcity of what it owns. Refineries are extraordinarily difficult to build today: they require enormous capital, years of permitting, and the navigation of environmental and community opposition that has effectively halted new refinery construction in much of the United States. The practical consequence is that existing, permitted, operating refineries have become high-barrier infrastructure — assets that would be very difficult, and in many regions effectively impossible, to replicate. When one of them sits in a state that has none other, its strategic weight grows accordingly.That is the case Sky Quarry makes for Foreland. Nevada consumes substantial quantities of gasoline, diesel, and other refined products, yet has historically relied on fuel imported from neighboring regions — making it one of the most fuel-import-dependent states in the nation. A refinery physically located within Nevada occupies a distinctive position in that supply chain, able to serve in-state demand and the broader Intermountain West without the logistics and cost penalties of long-haul imports. As the company puts it, Foreland provides refining capacity directly within a market that otherwise depends on barrels trucked or piped in from outside.The Capacity Squeeze Working in Its FavorThe macro trend underpinning the story is the steady erosion of Western refining capacity. Several large refining facilities in California have either ceased operations or announced plans to do so, removing meaningful capacity from the Western market. Each closure tightens the regional supply-demand balance and, in the company's framing, reinforces the strategic importance of the refining assets that remain. It is a dynamic that does not depend on any single dramatic event; it is the cumulative, structural drift of a region losing the ability to make its own fuel even as it keeps consuming it.That backdrop is what gives a sub-scale asset like Foreland outsized relevance. The company describes a combination of attributes that, taken together, it considers increasingly difficult to replicate: refining infrastructure, substantial storage capacity, access to regional crude supply, operating permits, customer relationships, and a strategic location serving a fuel-deficient market. Individually, none of these is unique. Collectively, in a region where replacement refining capacity has become scarce, the company argues they form a genuinely defensible position. Foreland has operated for more than two decades, processing heavy crude sourced from Nevada and Utah into diesel, vacuum gas oil, naphtha, and liquid paving asphalt for Western markets.What "Entering Production" Actually Means HereThe substance of the update is a shift from preparation to operation. Sky Quarry says recent work has included repairs, upgrades, and enhancements across critical operating systems, including storage infrastructure that now gives the company more than 100,000 barrels of total storage capacity — capacity that provides operational flexibility and, the company argues, represents an important component of the refinery's long-term value. With that work in its final stages, management expects to commence refinery operations in July.Critically, the company says it is entering operations with inventory already in place — approximately 10,000 barrels of crude oil and in-process inventory on-site and moving through the refining process. Sky Quarry frames that inventory as both a sign of operational readiness and an immediate working asset as production begins, positioning the company to participate in the value-creation process of converting crude into refined products from the outset rather than starting from a standstill."As refinery operations commence, Sky Quarry's focus shifts toward production, customer deliveries, operating margins, and cash flow generation," said Marcus Laun, Interim Chief Executive Officer of Sky Quarry, describing what the company calls a fundamental transition in its corporate evolution. For much of its recent history, management's attention was centered on repairing infrastructure, securing working capital, and preparing Foreland for operations; as operations begin, the company says that focus turns to running the asset and generating cash flow — a materially different operating profile, in its telling, than it carried earlier in the year.The Economics: Margins, Not Just Oil PricesOne nuance worth understanding is how a refiner actually makes money. While headlines tend to fixate on the price of crude oil, a refinery's economics are driven primarily by refining margins — the spread between what it pays for crude feedstock and what it earns for the refined products it sells. Crude oil is the principal input, and in a healthy demand environment, lower feedstock costs can actually benefit a refiner rather than hurt it. Sky Quarry has emphasized that its focus is on operating efficiently, managing costs, and capturing attractive margins through disciplined execution, rather than betting on the direction of crude prices themselves. For investors more accustomed to thinking of energy companies as leveraged plays on oil, that distinction matters: a refiner can prosper in environments that pressure producers, and vice versa.The Names That Frame the Refining TradeSky Quarry is, by any measure, a micro-cap minnow in a sector dominated by far larger operators, but the broader independent-refining landscape helps frame both the economics it is entering and the scale of its established peers. Looking at a few of the most relevant public names illustrates the sector — and the gulf between a single-refinery developer and the industry's incumbents.HF Sinclair Corporation (NYSE: DINO) is arguably the most geographically on-point comparison. The integrated refiner operates facilities across the Rocky Mountain, Mid-Continent, Southwest, and Pacific Northwest regions — including refineries in Wyoming, Utah, and Washington — serving the very Intermountain West fuel markets that Foreland targets, and its Utah operations are configured to run the kind of regional waxy crude that the eastern-Utah basin around Sky Quarry's PR Spring resource is known for. As a large, established operator in Foreland's own backyard, HF Sinclair illustrates both the scale of the regional refining incumbents and the strategic value of refining capacity positioned to serve these inland markets.Par Pacific Holdings, Inc. (NYSE: PARR) offers perhaps the most apt comparison in spirit. Par Pacific has built a business around refineries in logistically isolated, niche Western markets such as Hawaii, Wyoming, and the Pacific Northwest — markets where local refining enjoys a natural advantage over distant imports, much as Sky Quarry argues Foreland does in Nevada. As a mid-cap that has rewarded investors handsomely while carrying the volatility inherent to refining, Par Pacific illustrates both the appeal and the risk of the regionally advantaged refining model.CVR Energy, Inc. (NYSE: CVI) is an independent petroleum refiner and marketer focused on the mid-continent region. CVR exemplifies the margin-driven nature of the refining business — its fortunes rise and fall with the spread between crude costs and refined-product prices — and serves as a reminder that even established refiners operate in a cyclical, margin-sensitive industry where execution and cost discipline determine outcomes.Calumet, Inc. (NASDAQ: CLMT) rounds out the group as one of the closest comparisons in profile, if not in product mix. A specialty-products refiner with facilities positioned from Louisiana to Montana, Calumet is among the smaller, more niche-focused names in the public refining universe — a reminder that not every refiner competes on commodity-fuel scale, and that specialized positioning and disciplined operations matter as much as size. Calumet illustrates the challenges and opportunities facing smaller refining operations, including the leverage and margin sensitivity that come with the territory. These companies are referenced to illustrate the sector and do not imply any partnership, endorsement, affiliation, or comparable financial performance; they are larger and more established multi-facility operators, while Sky Quarry is a micro-cap operating a single refinery and entering its production phase.The Risks Behind the StoryThe strategic logic is compelling, but the risks are substantial and deserve clear emphasis. Sky Quarry is a development-stage micro-cap, and the production phase it is entering follows a difficult stretch: the Foreland refinery experienced outages for boiler repairs that halted production and sharply reduced revenue, and the company has been working through the financial consequences. Management states that repairs are complete and operations are expected to commence in July, but a planned restart is not the same as sustained, profitable production, and ramp-up timelines can slip. The company's ability to procure feedstock, run reliably, and capture healthy margins all remain to be demonstrated at scale.Beyond operational execution, the company carries the ordinary risks of a small-cap energy operator: exposure to volatile refining margins and commodity prices, the need for continued access to capital, and a balance sheet that — while improved, by the company's account — reflects a business still establishing consistent cash generation. As a micro-cap, its shares can be volatile, and its development ambitions beyond the refinery depend on financing that is not assured. Investors should weigh the genuine strategic appeal of a scarce, in-state refining asset against the real and well-documented execution, financing, and commodity risks that accompany a company at this stage.The Bottom LineSky Quarry's update marks a genuine inflection point in its corporate story: the moment a company that has spent years repairing, funding, and preparing an asset says it is ready to actually run it. The value of the Foreland Refinery has historically been viewed through the lens of its potential; as operations commence and throughput builds, it will increasingly be judged on operational performance, cash-generating capability, and its strategic position within a Western fuel market that keeps losing the capacity it cannot easily replace. That is a meaningfully different way for the market to evaluate the company — and a higher bar.Whether Sky Quarry can convert a scarce, strategically located refining asset into sustained, profitable production remains to be proven, and the execution and financing risks facing any micro-cap at this stage are real. But the underlying question the company is built around — who will supply fuel to a region steadily losing the ability to make its own — is a genuinely important one. For investors tracking where the shrinking Western refining map creates value, the switching-on of Nevada's only refinery is a development worth following closely.CONTINUED … Learn more about Sky Quarry Inc. at: https://usanewsgroup.com/skyq-landing.SEE WHAT THE MARKET IS TALKING ABOUT BEFORE IT MOVESEagle Eye reads social, forum, and news chatter across thousands of investor conversations in real time — and surfaces the tickers the crowd is piling into, along with the sentiment and catalysts behind them.Explore Eagle Eye free (for now) at https://Eagle-Eye.dev.CONTACT:
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info@worldstreetintelligence.comSOURCES:[1] Sky Quarry Inc. — "Sky Quarry Enters Production Phase at Nevada's Only Refinery" / shareholder business update (June 2026; primary source for the production-phase transition, ~10,000 bbl on-site inventory, 100,000+ bbl storage, ~$4M liquidity, July operations commencement, CEO Marcus Laun quotes): https://skyquarry.com/investor-information/new-events/.
[2] Sky Quarry Inc. — "Sky Quarry's Nevada Refinery Gains Strategic Value as Brent Crude Surpasses $110 and West Coast Refining Capacity Shrinks" (ACCESS Newswire, April 2, 2026; Foreland ~5,000 bpd permitted capacity, products slate, California refinery closures, Nevada import dependence).
[3] Sky Quarry Inc. — corporate / SEC disclosure (NASDAQ: SKYQ; Foreland / Eagle Springs facility, Railroad Valley near Ely, NV; 1-for-8 reverse split March 2026; Q1 2026 boiler-repair outages and revenue impact; PR Spring, ECOSolv).
[4] U.S. Energy Information Administration — Western U.S. refining capacity, California refinery closures, and regional fuel supply dynamics (context for shrinking PADD 5 refining capacity and import dependence): https://www.eia.gov/petroleum/refinerycapacity/.
[5] Yahoo Finance / sector coverage — independent and downstream refining peer context (HF Sinclair DINO, Par Pacific PARR, CVR Energy CVI, Calumet CLMT; refining margins, Intermountain West and Western-market exposure).DISCLAIMER:USANewsGroup.com ("USA") is a wholly-owned subsidiary of Market IQ Media Group Limited, a company incorporated under the laws of Ireland ("MIQL"). This communication is for digital media distribution purposes only. MIQL has been paid a fee by Creative Direct Marketing Group ("CDMG") for digital media distribution and original content production related to Sky Quarry, Inc. on behalf of Sky Quarry, Inc. The owner/operator of MIQL does not currently own any shares of Sky Quarry, Inc. but reserves the right to buy and sell, and will buy and sell shares of Sky Quarry, Inc. at any time without any further notice commencing immediately and ongoing. The communications between MIQL and Sky Quarry, Inc. and the related compensation arrangements between MIQL, CDMG and Sky Quarry, Inc. have been reviewed and approved on behalf of Sky Quarry, Inc. by CDMG.This article was reviewed and approved on behalf of Sky Quarry, Inc. by CDMG, and also directly from the Sky Quarry Inc.Owners, employees, and agents of USA and MIQL are not registered broker-dealers or investment advisors. The information contained in this communication is not, and should not be construed as, investment advice, an offer to sell or a solicitation of an offer to buy any security. The information contained in this communication is current at the date of publication and is provided in good faith from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Readers should conduct their own due diligence and consult with a registered broker-dealer or financial advisor before making any investment decision.This communication contains forward-looking statements within the meaning of applicable U.S. securities legislation. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: market and commodity price volatility; legal and regulatory risks; risks of being a small-capitalization company; the volatility of microcap and small-cap securities; risks associated with U.S. listing requirements; reliance on a single operating refinery; risks associated with operating in regulated U.S. energy markets; geopolitical risks; risks associated with development-stage assets; and risks of changes in U.S. federal and state energy policy. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this communication.This article references Sky Quarry, Inc.'s Request for Proposals to engage partners in accelerating development of the PR Spring oil sands asset. Independent investors should understand that the RFP is a non-binding solicitation of interest. There is no guarantee that any partnership transaction, joint venture, or development financing will result from the RFP process, or that any specific commercial terms will be agreed. Estimated production costs ($35 per barrel) and incremental capital requirements ($4 to $5 million) are based on prior engineering and feasibility work and are subject to change. The PR Spring resource estimate (approximately 180 million barrels) is based on prior technical reports and does not constitute proved reserves.Comparable companies referenced in this article (Valero Energy, HF Sinclair, Par Pacific, and Delek US) are presented for context purposes only. Sky Quarry, Inc. is materially different from each of these comparables in terms of market capitalization, refining throughput, leverage, and operating scope. Past performance of any comparable does not guarantee future performance of Sky Quarry, Inc.By reading this communication, the reader acknowledges that they have read and understand this disclaimer and the risks identified herein. View original content to download multimedia:https://www.prnewswire.com/news-releases/nevadas-only-refinery-is-switching-on--just-as-the-west-loses-the-capacity-it-cant-replace-302806475.html Original: Nevada's Only Refinery Is Switching On -- Just as the West Loses the Capacity It Can't Replace
US Market News
1週前
Sky Quarry Enters Production Phase at Nevada's Only RefineryJune 22, 2026 7:30 AM
ACCESS NewswireCompany enters operations with approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity.WOODS CROSS, UT / ACCESS Newswire / June 22, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today announced an update on its Nevada refinery operations provided by the Company's Interim Chief Executive Officer, Marcus Laun."As Sky Quarry approaches the commencement of refinery operations at Foreland Refinery in Ely, Nevada ("Foreland"), in my role as the Interim Chief Executive Officer of Sky Quarry, I wanted to provide an update on our progress and discuss the next phase of Sky Quarry's development."At the center of the Sky Quarry story is a simple fact: Sky Quarry controls what we believe is one of the most strategically positioned refining assets in the Western United States - Nevada's only operating refinery."While energy markets often focus on fluctuations in crude oil prices, the more important long-term trend, in my opinion, is the continued reduction of refining capacity across the Western United States," provided Mr. Laun. "As refining capacity exits the market and regional demand for transportation fuels remains resilient, strategically located refining infrastructure is expected to become increasingly valuable."Nevada remains one of the most fuel-import-dependent states in the nation. Despite consuming substantial quantities of gasoline, diesel, and other refined products, the state has historically relied on fuel imported from neighboring regions. Sky Quarry's Foreland Refinery occupies a unique position within that supply chain, with the potential to provide refining capacity directly within Nevada and serve customers throughout the broader Intermountain West region.At the same time, the regional refining landscape continues to evolve. Several large refining facilities in California have recently either ceased operations or announced plans to do so, removing meaningful refining capacity from the Western market. While no single event defines long-term market dynamics, the broader trend toward reduced regional refining capacity reinforces the Company's conviction in the strategic importance of existing refining assets that can meet regional demand.Against this backdrop, Sky Quarry's team has remained focused on preparing Foreland for sustained commercial operations. We are now in the final stages of that process and expect to commence refinery operations in July.Recent work at the Foreland Refinery site has included repairs, upgrades, and enhancements across critical operating systems, including storage infrastructure that provides the Company with more than 100,000 barrels of total storage capacity. This storage capability is expected to provide operational flexibility and represent an important component of the refinery's long-term value."Importantly, Sky Quarry's Foreland Refinery is entering operations with inventory already in place. The Company currently has approximately 10,000 barrels of crude oil and in-process inventory on-site, moving through the refining process. We believe this inventory represents both operational readiness and an immediate working asset as production begins. As operations ramp up, we expect this inventory to provide both operational flexibility and immediate participation in the value-creation process associated with refining crude oil into refined products."Perhaps most importantly, Sky Quarry is approaching a fundamental transition in its corporate evolution. For much of the Company's recent history, management's focus has been centered on repairing infrastructure, securing working capital, strengthening the balance sheet, and preparing Foreland for operations. As refinery operations commence, Sky Quarry's focus shifts toward production, customer deliveries, operating margins, and cash flow generation.This transition marks an important inflection point. The value of the Foreland Refinery has historically been viewed through the lens of its potential. As operations ramp up and throughput increases, the refinery will be increasingly evaluated based on its operational performance, cash-generating capability, and strategic position within the Western fuel market.As a refinery operator, the Company's economics are driven primarily by refining margins rather than crude oil prices alone. Crude oil is the principal feedstock used in operations, and lower feedstock costs can be beneficial when refined product demand and pricing remain healthy. The Company's focus remains on operating efficiently, managing costs, and capturing attractive margins through disciplined execution.Beyond the refinery itself, Sky Quarry now possesses a combination of assets that is increasingly difficult to replicate: refining infrastructure, substantial storage capacity, access to regional crude supply, operating permits, customer relationships, and a strategic location serving a fuel-deficient market. Collectively, these assets position the Company within a sector where replacement refining capacity has become increasingly scarce.Our intended objectives remain straightforward: operate safely, maximize utilization, generate cash flow, strengthen the balance sheet, and create long-term value for shareholders.We believe the months ahead will represent the beginning of a significantly different chapter for Sky Quarry.For years, the Company has worked to position Foreland as a strategic refining asset serving Nevada and the broader Western United States. Today, that effort is transitioning from preparation to production.Sincerely,Marcus Laun
Chief Executive Officer
Sky Quarry Inc.About Sky Quarry Inc.
Sky Quarry is an energy infrastructure company focused on domestic refining and resource development. The Company operates the Foreland Refinery in Nevada, the state's only operating refinery, producing diesel, vacuum gas oil (VGO), naphtha and asphalt for western U.S. markets. Sky Quarry is also advancing development initiatives at its PR Spring facility in Utah.For more information, visit www.skyquarry.com.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "expect," "anticipate," "believe," "intend," "plan," "will," "may," "should," "estimate," "potential," "project," "continue," and similar expressions, or the negative of such terms. These forward-looking statements include, but are not limited to, statements regarding: the expected timing for the commencement of refinery operations; the anticipated benefits of the Company's strategic position within the Western United States fuel market; expectations regarding refining capacity trends and their impact on the value of refining assets; the expected operational flexibility provided by storage capacity and on-site inventory; the Company's ability to generate cash flow, strengthen its balance sheet, and create shareholder value; the Company's plans for production ramp-up, customer deliveries, and operating margins; and the Company's beliefs regarding its unique market position and competitive advantages.These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to: risks related to the Company's ability to successfully commence and sustain refinery operations; fluctuations in crude oil prices, refined product prices, and refining margins; the Company's ability to obtain adequate supplies of crude oil feedstock at competitive prices; regional competition from other refineries and fuel suppliers; changes in demand for refined products in the Western United States; the Company's ability to attract and retain customers; risks associated with the operation of refining facilities, including equipment failures, unplanned downtime, and regulatory compliance requirements; the Company's ability to manage costs and maintain operational efficiency; the availability and cost of labor, equipment, and materials; changes in environmental, health, safety, or other regulations affecting the refining industry; the Company's ability to maintain adequate liquidity and working capital to support operations; general economic conditions, including inflation, interest rates, and recessionary pressures; and other factors described in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date hereof, and except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.Investor Relations
Jennifer Standley
Director of Investor Relations
ir@skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Enters Production Phase at Nevada's Only Refinery
US Market News
4週前
Sky Quarry Pushes to Expand Drilling in Nevada, Home to an Estimated 1.4 Billion Barrels of OilJune 3, 2026 7:30 AM
ACCESS NewswireThe Company's Foreland Refinery, Nevada's only operating refinery, provides a direct in-state outlet for local crude production.WOODS CROSS, UT / ACCESS Newswire / June 3, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today announced that it is launching a crude oil drilling and production initiative in Nevada's Railroad Valley - the state's primary oil-producing region - and that it intends to refine that crude at its Foreland Refinery, the only operating refinery in Nevada.According to a 2025 U.S. Geological Survey assessment, Nevada holds approximately 1.4 billion barrels of undiscovered, technically recoverable oil beneath federal lands, the third largest such resource of any state, behind only Alaska and New Mexico.1 Yet despite sitting atop that resource, Nevada today imports more than 90% of its transportation fuels, much of it from supply-constrained California. Sky Quarry intends to help close that gap.Michael D. O'Neal, President of Grant Canyon Oil & Gas, LLC and Saddle Rim Energy (Texas), LLC, commented, "We firmly believe that the prospects we are developing in Nevada are more attractive than most other parts of the U.S. Our current production has very long-lived reserves with shallow field decline rates. There are still huge undiscovered oil and gas fields in Nevada. We look forward to expanding our production and working with Foreland Refining Corporation and Sky Quarry."The Company is actively working to catalyze new drilling in Railroad Valley, assisting regional producers in bringing additional wells online and increasing production of Nevada crude. Producers are evaluating opportunities to expand output, and Sky Quarry is positioning Foreland to refine the additional local crude those efforts could deliver.The Foreland Refinery is particularly well-suited for processing Railroad Valley crude. Because the basin has limited pipeline access to outside markets, it is generally more economical to refine locally - giving Foreland a natural advantage in securing local supply. As regional production grows, the Company intends to increase utilization above historical levels, converting more local barrels into fuel for the state."At its peak, Railroad Valley wells produced roughly 5,000 barrels per day, and we believe more wells with that kind of productivity are still possible," said Marcus Laun, Chief Executive Officer of Sky Quarry. "More production would strengthen Nevada's energy infrastructure and increase the amount of locally produced crude available for refining in-state. That is the opportunity we are pursuing."About Sky Quarry Inc.
Sky Quarry is an energy infrastructure company focused on domestic refining and resource development. The Company operates the Foreland Refinery in Nevada, the state's only operating refinery, producing diesel, vacuum gas oil (VGO), naphtha and liquid paving asphalt for western U.S. markets. Sky Quarry is also advancing development initiatives at PR Spring in Utah, focused on technologies to recover hydrocarbons from oil-saturated sands, soils and consumer waste, including asphalt shingles, using its proprietary ECOSolv process. This closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production.For more information, visit www.skyquarry.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the Company's initiatives, partnerships, plans and strategy, future financial and/or operating results and projections, future developments in the industry and policy landscape, and the potential impact of regulations and government initiatives related to the energy industry. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "potential," "may," "can," "would," "could," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances, or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor Relations
Jennifer Standley
Director of Investor Relations
ir@skyquarry.com1 U.S. Geological Survey, "An Estimate of Undiscovered, Technically Recoverable Oil and Gas Resources Underlying Federal Lands of the Onshore United States, 2025," Fact Sheet 2025-3032, June 18, 2025. https://pubs.usgs.gov/publication/fs20253032/fullSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Pushes to Expand Drilling in Nevada, Home to an Estimated 1.4 Billion Barrels of Oil
US Market News
1月前
180 Million Barrels Of Oil Sands, A 5,000 BPD Permitted Nevada Refinery, And A New Multi-Party SAF Collaboration Just Stacked Onto The U.S. Domestic Refining Capacity ConversationMay 29, 2026 8:56 AM
PR Newswire (US) Issued on behalf of Sky Quarry Inc.As Western U.S. refining capacity continues to consolidate, Brent crude trades in the ~$95.00 range, and the Trump administration prioritizes domestic refining under Presidential Determinations, one integrated energy and resource recovery company has positioned itself directly at the intersection of feedstock, infrastructure, and policy.USA News Group News CommentaryWOODS CROSS, Utah, May 29, 2026 /PRNewswire/ -- U.S. domestic refining capacity has entered a structurally tight phase. West Coast refining capacity has continued to shrink, the Q1 2026 earnings cycle for major U.S. refiners confirmed disciplined demand and tight margin discipline across the complex, and the Trump administration's Presidential Determinations on domestic refining capacity under the Defense Production Act have placed strategic priority on U.S.-based refining infrastructure. Inside that landscape, Sky Quarry, Inc. (NASDAQ: SKYQ), Valero Energy Corporation (NYSE: VLO), HF Sinclair Corporation (NYSE: DINO), Par Pacific Holdings, Inc. (NYSE: PARR), and Delek US Holdings, Inc. (NYSE: DK) collectively span the spectrum from emerging vertically integrated upstream-downstream operator to large-scale U.S. refining-and-marketing major. Sky Quarry, Inc. (NASDAQ: SKYQ), an integrated energy and resource recovery company, has used the first half of 2026 to sequence a series of strategic announcements positioning the Company directly at the intersection of feedstock availability, U.S. refining capacity, and emerging low-carbon fuel pathways. On May 7, 2026, Sky Quarry executed a non-binding multi-party Memorandum of Understanding with Southern Energy Renewables, Inc. (a U.S.-based developer of carbon-negative fuels and large-scale biomass-to-Sustainable Aviation Fuel platforms) and DevvStream Corp. (a technology-driven environmental markets and carbon management company). The MOU has an initial three-year term and establishes a strategic collaboration focused on fuel innovation, refinery integration, and low-carbon fuel development.The collaboration targets pilot-scale validation of SAF, specialty fuels, and recycled-hydrocarbon blends at Sky Quarry's PR Spring oil sands asset in Utah — a resource the Company has disclosed at approximately 180 million barrels of oil — alongside technology upgrades at the Foreland Refinery in Nevada. The integrated pathway provides Sky Quarry access to carbon management, environmental attributes, and commercialization pathways across both the conventional refining and SAF sides of the U.S. fuel supply environment. Section 45Z Production Tax Credit framework on the SAF side and Defense Production Act policy on the conventional side together describe the most supportive operating environment U.S. integrated refining operators have seen in recent memory.Earlier in the quarter, on April 29, 2026 (with an expanded version released on May 4, 2026), Sky Quarry announced a Request for Proposals (RFP) to engage partners seeking to accelerate development and commercialization of the approximately 180 million barrels of oil at the PR Spring asset. The RFP includes potential integration of PR Spring heavy oil production directly into the Foreland Refinery — creating a vertically integrated upstream-to-downstream pathway from Utah feedstock to Western U.S. finished products. The Company has also issued a separate RFP to monetize 7 megawatts of installed surplus turbine generation at the same site, providing additional commercial flexibility around the underlying infrastructure base.The Foreland Refinery operates at 5,000 barrels per day of permitted capacity — a scarce, fully permitted, and recently upgraded asset inside a constrained Western U.S. fuel market. On January 27, 2026, Sky Quarry announced the completion of high-impact system upgrades at Foreland, unlocking strategic value across the refinery's 5,000 BPD permitted capacity. The Company's broader strategic growth plan, announced in 2025, targets up to 800,000 barrels of annual sustained production at Foreland — providing the operational scale-up roadmap for the integrated upstream-and-downstream model the Company is now executing against.Sky Quarry's positioning within the U.S. domestic refining capacity — reinforced by the April 23, 2026 press release citing the Trump administration's Presidential Determinations on domestic refining capacity under the Defense Production Act — places the Company at the intersection of the energy security policy framework now being deployed at the federal level. The combination of permitted refinery infrastructure, 180 million barrels of in-place feedstock, multi-party SAF collaboration, and Defense Production Act policy alignment provides the structural framework within which Sky Quarry's integrated platform is being evaluated. For more company information, visit USA News Group.In other industry developments and happenings in the market include:Valero Energy Corporation (NYSE: VLO) — among the largest independent petroleum refiners and marketers in the world — has continued to leverage tight U.S. refining margin economics through Q1 2026. The Company's portfolio of refineries across the U.S. Gulf Coast, mid-continent, West Coast, and Atlantic Coast provides the scale reference for what large-cap U.S. refining-and-marketing operations look like inside the current Western fuel supply environment. Recent quarterly results continued to reflect disciplined refining margin capture across the cycle.Valero's continued scale advantage and refining margin discipline provides the institutional reference for U.S. refining sector performance — and reinforces the structural premium attaching to permitted refining capacity inside the current Defense Production Act prioritization framework. Across the U.S. refining complex, the procurement environment continues to favor operators with established, permitted, and operationally upgraded refining infrastructure.HF Sinclair Corporation (NYSE: DINO) — formed via the 2022 merger of HollyFrontier and Sinclair — has continued to operate one of the larger integrated U.S. refining and marketing platforms through Q1 2026. The Company's refineries across the mid-continent and Rocky Mountain regions, combined with the Sinclair-branded retail network, provide diversified margin capture across the U.S. fuel supply chain.HF Sinclair's integrated refining-and-marketing model and continued operational platform discipline through 2026 reinforces the structural relevance of regional refining infrastructure inside the broader U.S. fuel supply environment. The Company's continued investment in renewable diesel and lower-carbon fuel pathways provides additional architectural reference for the integrated conventional-and-low-carbon strategy that mid-sized U.S. refiners are increasingly deploying.Par Pacific Holdings, Inc. (NYSE: PARR) operates refining assets in Hawaii, Wyoming, Montana, and Washington — making it one of the more geographically diversified mid-tier U.S. independent refiners. Par Pacific's positioning at the intersection of constrained regional markets (particularly Hawaii and the Pacific Northwest) has reinforced the strategic relevance of its refining footprint inside the tightening Western U.S. fuel supply environment through 2026.Par Pacific's regional refining concentration — particularly in Western and Pacific markets — provides direct reference for the structural value of permitted Western refining infrastructure. The Company's operating discipline and continued reinvestment in refining capacity reinforces the broader procurement environment thesis: Western U.S. refining capacity is structurally constrained, and operators with permitted, operationally upgraded assets are commanding strategic value.Delek US Holdings, Inc. (NYSE: DK) operates refining assets in the U.S. Gulf Coast and mid-continent regions, alongside a retail and logistics platform. The Company's Q1 2026 earnings cycle reinforced the broader U.S. refining sector observation: tight global capacity, disciplined demand, and structurally supported refining margins are providing the operating environment within which mid-sized U.S. independent refiners are operating.Delek's continued operational platform and disciplined capital allocation through 2026 provides the additional reference for U.S. independent refining performance inside the current cycle. Across the broader U.S. independent refining complex, the structural premium attaching to permitted refining capacity — combined with the Defense Production Act prioritization framework — continues to reinforce the institutional engagement around U.S.-based integrated refining-and-feedstock operations of all scales.Across the comparable set, the message is consistent: U.S. domestic refining capacity is constrained, Western fuel supply is tightening, and federal policy is actively reinforcing the strategic value of permitted refining infrastructure. Sky Quarry's May 7 multi-party MOU with Southern Energy Renewables and DevvStream, the April–May RFP for the 180-million-barrel PR Spring oil sands asset, the January 2026 Foreland refinery upgrades completion, and the April 23 Defense Production Act positioning collectively place the Company at the integrated upstream-and-downstream intersection inside the broader U.S. refining capacity priority. For investors building exposure to the U.S. domestic refining and energy security cycle, SKYQ deserves a closer look.CONTINUED… Read this and more news for Sky Quarry Inc. at: https://usanewsgroup.com/skyq-landing.Logo: https://mma.prnewswire.com/media/2838876/USA_News_Group_Logo.jpgCONTACT:
USA News Group
info @therooster-2873Article Sources:[1] https://www.stocktitan.net/news/SKYQ/sky-quarry-enters-strategic-multi-party-mou-to-advance-next-3x4zih3h99i6.html
[2] https://www.prnewswire.com/news-releases/180-million-barrels-of-utah-oil-sands-resource-under-development-by-sky-quarry-302769254.html
[3] https://www.globenewswire.com/news-release/2026/05/12/3293082/0/en/The-Unlikely-Intersection-of-America-s-Only-Nevada-Refinery-and-Sustainable-Aviation-Fuel.html
[4] https://www.valero.com/news
[5] https://hfsinclair.com/news
[6] https://www.parpacific.com/news
[7] https://www.delekus.com/newsDISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a digital media distribution and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is being distributed by USA News Group on behalf of Market IQ Media Group Inc. ("MIQ"). Regarding this publication, MIQ has been paid a fee for Sky Quarry, Inc. advertising and digital media from Creative Direct Marketing Group ("CDMG"). There may be 3rd parties who may have shares of Sky Quarry, Inc., and may liquidate their shares which could have a negative effect on the price of the stock. The owner/operator of MIQ does not currently own shares of Sky Quarry, Inc. but reserves the right to buy and sell, and will buy and sell shares of Sky Quarry, Inc. at any time without any further notice commencing immediately and ongoing. This potential for trading constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this, individuals are strongly encouraged to not use this publication as the basis for any investment decision. Please let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been reviewed and approved on behalf of Sky Quarry, Inc. by CDMG. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Issued on behalf of Sky Quarry, Inc. by USA News Group / Market IQ Media Group, Inc. View original content:https://www.prnewswire.com/news-releases/180-million-barrels-of-oil-sands-a-5-000-bpd-permitted-nevada-refinery-and-a-new-multi-party-saf-collaboration-just-stacked-onto-the-us-domestic-refining-capacity-conversation-302785492.htmlSOURCE USA News Group Original: 180 Million Barrels Of Oil Sands, A 5,000 BPD Permitted Nevada Refinery, And A New Multi-Party SAF Collaboration Just Stacked Onto The U.S. Domestic Refining Capacity Conversation
US Market News
2月前
Energy Emergencies Drive Urgent Action in Nevada Fuel SupplyMay 11, 2026 7:00 AM
ACCESS NewswireSky Quarry owns the only refinery in Nevada and could stand to benefit as state and federal policies convergeWOODS CROSS, UT / ACCESS Newswire / May 11, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company") today highlighted its participation in ongoing discussions shaping Nevada's fuel supply strategy within the broader U.S. energy security landscape at a meeting of the Nevada Fuel Resiliency Committee (the "Committee") held on April 30, 2026.The Committee, formed by Nevada Governor Joe Lombardo in response to fuel supply disruptions and Nevada's declaration of a limited state of emergency, is focused on critical vulnerabilities in fuel logistics, refining capacity, and regional energy independence. The Company's management views the Committee as Nevada's response to a compounding series of energy emergencies necessitating coordinated action at both the state and federal levels. Nevada and the broader Western United States remain heavily dependent on imported refined fuels, a dynamic that is causing increasing pressure amid refinery closures and constraints on infrastructure expansion.Sky Quarry CEO Marcus Laun attended the Committee's April 30, 2026, meeting, where state leaders, regulators, and industry participants discussed the fuel supply shortage, which is increasingly being viewed as a structural issue rather than a temporary disruption."This is no longer a single-point failure scenario. It is part of a broader energy security challenge," said Laun. "Nevada's response reflects a growing recognition that local fuel production and refining capacity are essential."The urgency at the state level is echoed by federal actions. President Donald Trump issued Executive Orders and Presidential Memoranda designating domestic energy production, refining, and logistics infrastructure as matters of national security. These and other actions are expected to unlock substantial federal support mechanisms for the energy industry, including:• Export-Import Bank financing for energy infrastructure
• Department of Defense offtake agreements
• Department of Energy lending and project financing
• Defense Production Act incentivesSky Quarry believes this alignment in prioritization at the state and federal levels creates a meaningful opportunity for accelerated investment in domestic refining and production assets."This is the kind of policy alignment that drives real capital into the sector," Laun added. "When you combine state emergencies with federal national security mandates, you create a pathway for funding, offtake, and infrastructure buildout at scale. We are interested in identifying partners and opportunities that will help us meet the needs of the Nevada market."Sky Quarry is advancing initiatives to increase throughput at its Eagle Springs Foreland Refinery in Nevada while engaging with regional oil producers to expand crude supply within the state. Eagle Springs is the only permitted, operating refinery in Nevada, with a nameplate capacity of approximately 5,000 barrels per day, a distinction that management believes will make the Company a natural focal point for Nevada's efforts to expand in-state refining and production capacity, reduce dependency on imported fuels, and strengthen supply chain resilience.Although there can be no assurance that the state and federal actions and policies discussed herein will have the anticipated effect or benefit the Company, management believes the Company's Nevada footprint, combined with its integrated upstream and refining capabilities, positions Sky Quarry to potentially participate in both state-led infrastructure initiatives and federally supported energy programs."We believe domestic energy assets in supply-constrained regions like ours are entering a period of strategic revaluation," Laun said. "Sky Quarry is well positioned for that shift."The Company intends to remain actively engaged with the Committee and related stakeholders as policy and infrastructure initiatives continue to develop. The Company expects these developments to inform future operational, partnership, and capital deployment strategies.About Sky Quarry Inc.
Sky Quarry is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt for Western U.S. markets. The Company is also advancing its PR Spring development in Utah, focused on technologies to recover hydrocarbons from oil-saturated sands and soils and consumer waste, including asphalt shingles, using its proprietary ECOSolv process. This closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production. For more information, please visit www.skyquarry.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the Company's plans and strategy, future financial and/or operating results and projections, future developments in the industry and policy landscape, and the potential impact of regulations and government initiatives related to the energy industry. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "potential," "may," "can," "could," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances, or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor Relations
Jennifer Standley
Director of Investor Relations
ir@skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Energy Emergencies Drive Urgent Action in Nevada Fuel Supply
US Market News
2月前
Sky Quarry Enters Strategic Multi-Party MOU to Advance Next-Generation Fuel TechnologiesMay 7, 2026 7:30 AM
ACCESS NewswireCollaboration with Southern Energy Renewables and DevvStream Opens New Pathways at PR Spring and the Foreland RefineryWOODS CROSS, UT / ACCESS Newswire / May 7, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), an integrated energy and resource recovery company, today announced the execution of a Memorandum of Understanding ("MOU") with Southern Energy Renewables Inc. ("Southern"), a U.S.-based developer of carbon-negative fuels and large-scale biomass-to-sustainable aviation fuel ("SAF") platforms, and DevvStream Corp. ("DevvStream"), a technology-driven environmental markets and carbon management company.The MOU establishes a strategic collaboration focused on fuel innovation, refinery integration, and low-carbon fuel development, including opportunities involving recycled hydrocarbons, specialty fuels, SAF, and related fuel applications.A Step-Change in Development Capacity for Sky QuarryThe agreement materially expands Sky Quarry's development capabilities by aligning with organizations actively advancing large-scale clean fuel infrastructure and environmental market solutions.Southern's platform is designed to produce sustainable aviation fuel, methanol, and other low-carbon fuels at industrial scale through modular plant designs and integrated conversion technologies intended to reduce development timelines and capital intensity.DevvStream brings expertise in carbon management, environmental attribute monetization, and lifecycle analysis, capabilities that are increasingly central to the economics of low-carbon fuel projects.Through this collaboration, Sky Quarry gains access to:Advanced development expertise across FEED, pilot validation, and commercializationScalable project frameworks capable of accelerating timelines at PR SpringIntegration pathways into emerging low-carbon fuel ecosystems and environmental marketsExposure to environmental attribute markets, carbon programs, and project financing frameworks across low-carbon fuel infrastructureMaximizing the Value of PR SpringThe MOU provides a clear pathway to expand and optimize the PR Spring asset by integrating new fuel development initiatives alongside existing hydrocarbon recovery operations.Specifically, the partnership enables:Pilot-scale validation of advanced fuels, including SAF, specialty fuels, and recycled hydrocarbon blendsExpansion of product slate beyond traditional heavy oil and asphalt outputsAcceleration of commercialization timelines through the partners' combined development roadmapPotential integration into broader SAF and synthetic fuel supply chainsSouthern's demonstrated experience in gasification, syngas conversion, and methanol-to-fuel pathways provides a complementary framework that can enhance PR Spring's long-term production capabilities and economic profile. DevvStream's carbon intensity optimization and environmental attribute expertise add a further dimension, positioning output streams for low-carbon fuel markets that reward verified emissions reductions.Advancing Technology at the Foreland RefineryAt the Foreland Refinery in Nevada, the collaboration introduces a pathway to advance refining complexity and product value through new fuel technologies.The partnership is expected to support:Blending of synthetic and conventional feedstocks to produce higher-value fuelsDevelopment of on-spec aviation and specialty fuels supported by advanced fuel development initiatives under the collaborationTechnology validation that can inform future refinery upgrades, including hydrotreating and advanced processing systemsPositioning Foreland as a regional hub for next-generation fuel productionThis represents a strategic evolution of Foreland from a traditional refinery into a technology-enabled fuel production platform aligned with emerging domestic energy and low-carbon fuel priorities.Strategic Alignment with Evolving Energy MarketsThe collaboration comes at a time of increasing U.S. policy support for domestic fuel production, refining infrastructure, sustainable fuels, and carbon reduction initiatives, including:Incentives for low-carbon and synthetic fuelsFunding for energy infrastructure and refining capacityGrowing demand for environmental attribute monetization and carbon intensity optimization across low-carbon fuel supply chainsLeadership Commentary"This MOU represents a significant expansion of Sky Quarry's development platform," said Marcus Laun, Chief Executive Officer of Sky Quarry. "By collaborating with Southern and DevvStream, we are accelerating the optimization of PR Spring while advancing new technology pathways that can transform Foreland into a next-generation fuel production hub. This partnership positions Sky Quarry at the intersection of traditional energy infrastructure and advanced fuel innovation.""Sky Quarry's combination of upstream resources and refining infrastructure creates a compelling platform for advanced fuel development," said Nevin Smalls, Chief Strategy Officer of Southern Energy Renewables. "We look forward to exploring opportunities around low-carbon fuels, refining innovation, and scalable commercial applications together."Next StepsThe parties intend to advance toward definitive agreements focused on:Pilot programs for advanced fuel developmentCommercialization frameworks for aviation and specialty fuelsIntegration of technologies across Sky Quarry's asset baseThe MOU has an initial term of three years and reflects the parties' intent to collaborate on a long-term basis across multiple projects, fuel markets, and geographies. The MOU is non-binding, except for certain customary provisions.About Sky Quarry Inc.Sky Quarry is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt for Western U.S. markets. The Company is also advancing its PR Spring development in Utah, focused on technologies to recover hydrocarbons from oil-saturated sands, soils, and consumer waste, including asphalt shingles, using its proprietary ECOSolv process. This closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production. For more information, please visit www.skyquarry.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the Company's plans and strategy, future financial and/or operating results and projections, future developments in the industry and the potential impact of regulations. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "potential," "may," "can," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor RelationsJennifer Standley
Director of Investor Relations
ir@skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Enters Strategic Multi-Party MOU to Advance Next-Generation Fuel Technologies
US Market News
2月前
Sky Quarry's 180-Million-Barrel Oil Sands Asset Subject to RFP for Accelerated CommercializationMay 4, 2026 8:00 AM
ACCESS Newswire(This release supersedes the version issued on April 29, 2026, and includes additional detail on the partnership structure in response to questions received.)WOODS CROSS, UT / ACCESS Newswire / May 4, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), an integrated energy and environmental remediation company, announced today that it is issuing a Request for Proposals (RFP) to engage partners seeking to accelerate development and commercialization of its ~180-million-barrel¹ oil sands resource at its fully permitted PR Spring facility in Utah. The PR Spring asset spans approximately 5,900 acres and includes a constructed processing facility representing approximately $60 million in prior investments.The PR Spring asset is supported by prior engineering and feasibility work that outlines meaningful production potential at scale, including:~1.5 million tons per year of feedstock processing capacity (August Brown, LLC feasibility study, October 2022)Expected production cost of approximately $35 per barrel~2,000 barrels¹ per day of heavy oil production capacity upon developmentBased on the scale of the opportunity and Sky Quarry's 100% working interest in the asset, the Company is seeking proposals for a farmout arrangement from industry partners to accelerate development and commercialization of this large-scale domestic resource, offering participation in a permitted, infrastructure-backed asset with defined production potential.PR Spring is located near Vernal, Utah, in the Uinta Basin, one of the primary oil and natural gas producing regions in the Western United States. The Company believes the facility requires only incremental capital - estimated at $4 to $5 million in CapEx - to reach production readiness.Permitted, production-ready projects are increasingly attractive in the current environment, which is experiencing refinery closures across California and the broader Western United States, tightening fuel supply, and growing demand for domestic resource development."We have been making steady progress at PR Spring to better position the asset for production. Although PR Spring is classified as an exploration stage property, potential partners should expect limited exploration risk, as we are developing a permitted surface mine with oil in place rather than conducting frontier exploration," said Marcus Laun, Chief Executive Officer of Sky Quarry. "Through this RFP process, we are looking to engage with partners who recognize both the scale of the resource and the urgency of bringing additional supply online. We believe that owning a large-scale oil sands resource with existing infrastructure at PR Spring represents a meaningful advantage in this constrained environment."Sky Quarry's platform includes its Nevada-based Foreland Refinery, the only permitted refinery in the state, creating a potential integrated pathway from resource to refined product in a supply-constrained Western fuel market.Interested parties may contact jennifer@skyquarry.com for additional information about the RFP.About Sky Quarry Inc.Sky Quarry is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt for Western U.S. markets. The Company is also advancing its PR Spring development in Utah, focused on technologies to recover hydrocarbons from oil-saturated sands and soils and consumer waste, including asphalt shingles, using its proprietary ECOSolv process. This closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production. For more information, please visit www.skyquarry.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the Company's plans and strategy, future financial and/or operating results and projections, future developments in the industry and the potential impact of regulations. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "potential," "may," "can," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor RelationsJennifer Standley
Director of Investor Relations
ir@skyquarry.com¹ The PR Spring lands are classified as an exploration stage property, and the Company does not have any proven reserves on its leases at the PR Spring Facility. The estimated resources described herein do not qualify as, and should not be confused with, reserves.SOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry's 180-Million-Barrel Oil Sands Asset Subject to RFP for Accelerated Commercialization
US Market News
2月前
Sky Quarry Issues Request for Proposals to Accelerate Development of One Hundred Eighty Million Barrel PR Spring Oil Sands Asset Amid Tightening Western U.S. Fuel SupplyApril 29, 2026 7:00 AM
ACCESS NewswireWOODS CROSS, UT / ACCESS Newswire / April 29, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), an integrated energy and environmental remediation company, announced today that it is issuing a Request for Proposals (RFP) to engage partners seeking production opportunities to accelerate the development and commercialization of its ~180-million-barrel oil sands resource at its fully permitted PR Spring facility in Utah. The asset spans approximately 5,900 acres and includes a constructed processing facility representing over $50 million in prior investments.The PR Spring asset is supported by prior engineering and feasibility work that outlines meaningful production potential at scale, including:~1.5 million tons per year of feedstock processing capacity~2,000 barrels per day of heavy oil production capacity upon development(August Brown, LLC feasibility study, October 2022)Based on the scale of the opportunity and strong feasibility results, Sky Quarry is seeking proposals from industry and capital partners to accelerate the development and commercialization of this large-scale domestic resource, offering participation in a permitted, infrastructure-backed asset with defined production potential.PR Spring is located near Vernal, Utah, in the Uinta Basin, one of the primary oil and natural gas producing regions in the Western United States. The Western fuel market operates with limited refining capacity and constrained infrastructure. Refinery closures, regulatory pressure, and limited new capacity have tightened supply and increased the demand for domestic resource development. In this environment, permitted, development-ready projects capable of contributing new supply are increasingly attractive."We have been making steady progress at PR Spring to better position the asset for development," said Marcus Laun, Chief Executive Officer of Sky Quarry. "Through this RFP process, we are looking to engage with partners who recognize both the scale of the resource and the urgency of bringing additional supply online. We believe that owning a large-scale oil sands resource with existing infrastructure at PR Spring represents a meaningful advantage in this constrained environment, and that its value is not fully reflected in current market perception."Sky Quarry's platform includes its Nevada-based Foreland Refinery, the only permitted refinery in the state, creating a potential integrated pathway from resource to refined product in a constrained Western fuel market.Interested parties may contact jennifer@skyquarry.com for additional information about the RFP.About the Company
Sky Quarry is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt for Western U.S. markets. The Company is also advancing its PR Spring development in Utah, focused on technologies to recover hydrocarbons from oil-saturated sands, soils, and consumer waste, including asphalt shingles, using its proprietary ECOSolv process. This closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production. For more information, please visit www.skyquarry.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the Company's plans and strategy, future financial and/or operating results and projections, future developments in the industry and the potential impact of regulations. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "potential," "may," "can," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor Relations
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Issues Request for Proposals to Accelerate Development of One Hundred Eighty Million Barrel PR Spring Oil Sands Asset Amid Tightening Western U.S. Fuel Supply
US Market News
2月前
Sky Quarry Positioned to Benefit as Trump Administration Prioritizes Domestic Refining CapacityApril 23, 2026 7:30 AM
ACCESS NewswireU.S. Refining Shortfall and Tightening Global Supply Put Western Fuel Markets at RiskWOODS CROSS, UT / ACCESS Newswire / April 23, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or the "Company"), operator of the only operational refinery in Nevada and a strategically positioned asset in a constrained Western U.S. fuel market, today highlighted Donald Trump's various Presidential Determinations issued on April 20, 2026, pursuant to Section 303 of the Defense Production Act of 1950, as amended (the "Determinations")1 and aimed at accelerating the development of critical U.S. energy infrastructure, including domestic petroleum refining capacity.The Determinations emphasized that the development, manufacture, and deployment of large-scale energy infrastructure is essential to national defense and energy reliability and directed the use of authorities under the Defense Production Act of 1950 to support and expand such activities. The Determinations also identified the need to strengthen domestic petroleum production, refining, and associated logistics capacities to ensure reliable domestic fuel supply.2A System Under Stress: Tightening Supply in the Western U.S.U.S. refining capacity has failed to keep pace with demand, an issue that is particularly acute in the Western United States. California, the region's dominant fuel market, has seen accelerating refinery closures and tightening environmental regulations that have systematically reduced in-state refining output, leaving the region increasingly dependent on imports and exposing the state to supply disruptions. California's stringent regulatory environment has, as a practical matter, significantly restricted the permitting of new refining capacity, and the structural gap between regional supply and demand continues to widen.Drawdowns of the Strategic Petroleum Reserve cannot continue indefinitely. At the same time, geopolitical tensions and conflict in the Middle East, including the ongoing hostilities in Iran, are adding further uncertainty to global energy markets. The Western U.S. fuel market is not insulated from these pressures.A Rare Asset in a Supply-Constrained MarketAs permitting new refining capacity becomes increasingly difficult, assets like Sky Quarry's Eagle Springs Foreland refinery represent scarce, hard-to-replicate infrastructure. The refinery, located near Ely, Nevada, is a fully permitted, recently upgraded facility with a nameplate capacity of approximately 5,000 barrels per day, processing regional crude into diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt for markets across Nevada and parts of the broader Intermountain West.Sky Quarry is actively evaluating opportunities to align Foreland's operations with federal programs aimed at expanding domestic refining throughput, increasing transportation fuel production, and strengthening regional fuel distribution networks."These Presidential actions are a signal that the structural weaknesses in our energy system are now being taken seriously at the highest level of government," said Marcus Laun, Chief Executive Officer of Sky Quarry. "The Strategic Petroleum Reserve cannot be drawn down forever, California's regulatory environment continues to squeeze regional refining capacity, and geopolitical tensions and conflict involving Iran are adding real uncertainty to global supply. The Western U.S. is increasingly exposed. We believe our Nevada refinery, permitted, upgraded, and capable of approximately 5,000 barrels per day, is exactly the kind of domestic infrastructure this Administration is looking to support."About Sky Quarry, Inc.Sky Quarry Inc. (NASDAQ:SKYQ) is an oil production and refining company that operates the Foreland Refinery, currently Nevada's only operating refinery, producing diesel, VGO, naphtha, and liquid paving asphalt from crude oil sourced from Nevada and Utah. The Company is also advancing its PR Spring facility in eastern Utah, which has approximately 5,900 acres of oil sands leases adjacent to the facility, focused on technologies to recover hydrocarbons from oil-saturated sands and soils and consumer waste, including asphalt shingles. For more information, please visit www.skyquarry.comForward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the trends and developments in the energy industry, future rule and policy making, the Company's plans and strategy and any potential alignment with federal programs. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "may," "can," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. Forward-looking statements speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and circumstances or otherwise. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC.Investor and Media ContactsSky Quarry Inc.
Jennifer Standley, Director of Investor Relations
Ir@skyquarry.com_____________________________________________________________________¹ The White House, Presidential Determination Pursuant to Section 303 of the Defense Production Act of 1950, as Amended, on Development, Manufacturing, and Deployment of Large-Scale Energy and Energy-Related Infrastructure, April 2026. Available at: https://www.whitehouse.gov/presidential-actions/2026/04/presidential-determination-pursuant-to-section-303-of-the-defense-production-act-of-1950-as-amended-on-development-manufacturing-and-deployment-of-large-scale-energy-and-energy-related-inf/² The White House, Presidential Determination Pursuant to Section 303 of the Defense Production Act of 1950, as Amended, on Petroleum, Refining Capacity, and Energy Logistics Systems, April 2026. Available at: https://www.whitehouse.gov/presidential-actions/2026/04/presidential-determination-pursuant-to-section-303-of-the-defense-production-act-of-1950-as-amended-on-domestic-petroleum-production-refining-and-logistics-capacity/SOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Positioned to Benefit as Trump Administration Prioritizes Domestic Refining Capacity
US Market News
3月前
Sky Quarry's Nevada Refinery Gains Strategic Value as Brent Crude Surpasses $110 and West Coast Refining Capacity ShrinksApril 2, 2026 7:00 AM
ACCESS NewswireNevada's only operating refinery is positioned at the intersection of surging global oil prices, accelerating California refinery closures, and rising demand for domestically produced fuelWOODS CROSS, UT / ACCESS Newswire / April 2, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ), operator of Nevada's only operating refinery, today highlighted the strategic importance of its Foreland Refinery as Brent crude oil surged past $110 per barrel - its highest level since mid-2022 - and the Western United States continues to lose refining capacity at an accelerating rate. The convergence of a major oil price rally amid disruptions in the Strait of Hormuz, the permanent closure of major California refineries, and strong regional fuel demand creates a favorable backdrop for domestic refining infrastructure serving the local market.Nevada's Only Refinery - Serving the Local MarketSky Quarry owns and operates the Foreland Refinery, the only refinery located in Nevada, with approximately 5,000 barrels per day of permitted refining capacity. The facility produces diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt from crude oil sourced from Nevada and Utah, serving the regional fuel market across Nevada and parts of the broader Intermountain West.Nevada consumes more than 300,000 barrels per day of petroleum products - including gasoline, diesel, and jet fuel - according to the U.S. Energy Information Administration. Because the state has no other in-state refining capacity, nearly all refined fuels must be transported from refineries in neighboring states, principally California."Nevada is one of the most import-dependent fuel markets in the country," said Marcus Laun, Chief Executive Officer of Sky Quarry. "If two of the largest California refineries serving the Western region close permanently and global oil prices spike above $110 a barrel, the question of where refined product comes from - and who controls local supply - becomes urgent. We own the only refinery in Nevada, and that is a strategically significant position."Brent at $110+: A Major Supply ShockCrude oil markets have experienced a significant surge in March 2026. Brent crude settled at approximately $112 per barrel on March 30, 2026 - up more than 50% since the beginning of the year - as conflict in the Middle East effectively closed the Strait of Hormuz to most commercial traffic. The U.S. Energy Information Administration's March 10 Short-Term Energy Outlook forecast Brent remaining above $95 per barrel over the next two months.Higher oil prices typically support increased domestic drilling activity. Analysis from the Federal Reserve Bank of Dallas has shown that U.S. shale drilling activity tends to accelerate when oil prices rise above the $70 to $80 per barrel range, where many drilling programs become economically attractive. At current price levels, the economics for regional crude production in Nevada and Utah are substantially improved.Sky Quarry is currently in discussions with regional crude oil suppliers and leaseholders in Nevada regarding opportunities to increase local production that could supply the Foreland Refinery."At $110 oil, the economics for local drilling and local refining both improve materially," Laun continued. "Several producers we work with are actively evaluating opportunities to increase production. If that activity accelerates, it can create a natural and advantageous supply relationship between local crude and local refining capacity - exactly the kind of integrated position we have been building toward."California Refinery Closures Tighten Regional SupplyWhile fuel demand across the Western United States remains strong, California's refining capacity - the primary source of imported refined fuels for Nevada and neighboring states - has been declining sharply and will likely continue to do so.The Phillips 66 Wilmington refinery in Los Angeles (~138,700 barrels per day) permanently ceased crude processing operations at the end of 2025. Valero's Benicia refinery (~145,000 barrels per day), located northeast of San Francisco, is scheduled to close by mid-2026. Together, these two facilities represent approximately 290,000 barrels per day of capacity - roughly 18% of California's total refining infrastructure, according to reporting by Oil & Gas Journal and TankTerminals.com.California's boutique fuel blend requirements mean that replacement supply cannot easily be sourced from other domestic refining centers, amplifying the impact of any capacity reduction. States such as Nevada that already depend on fuel transported from California face compounding exposure as in-state California supply tightens, transportation costs rise, and the global price of crude climbs simultaneously."The West Coast fuel supply chain is being stressed from multiple directions at the same time," said Laun. "California may be losing roughly 290,000 barrels a day of refining capacity just as global crude prices are hitting multi-year highs. That is a challenging equation for any market that depends on California for refined product - particularly Nevada."PR Spring: Long-Term Unconventional ResourceSky Quarry's wholly-owned PR Spring facility in eastern Utah represents an additional long-term energy asset. Constructed at a cost of more than $50 million, the facility is designed to process asphaltic bitumen oil sands ore into heavy oil. The property contains an estimated 180 million barrels of asphaltic bitumen ore. At sustained elevated crude prices, the economics of unconventional resource development may improve materially, and the Company intends to continue evaluating development pathways for the asset.About Sky Quarry Inc.Sky Quarry Inc. (NASDAQ:SKYQ) is an oil production and refining company that operates the Foreland Refinery, Nevada's only operating refinery, producing diesel, VGO, naphtha, and liquid paving asphalt from crude oil sourced from Nevada and Utah. The Company is also advancing its PR Spring facility in eastern Utah, focused on technologies to recover hydrocarbons from oil-saturated sands and soils and consumer waste, including asphalt shingles. For more information, please visit www.skyquarry.comForward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable securities laws, including statements about future developments in the energy industry. All statements other than statements of historical fact may constitute forward-looking statements. The statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," "may," "can," "if," or words of similar meaning. Such statements are based on current expectations and assumptions of management, many of which are beyond the Company's control, and are subject to a number of risks, uncertainties, and factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described explicitly or implicitly in any forward-looking statement. The Company neither intends nor assumes any obligation to update or revise these forward-looking statements in light of developments that differ from those anticipated. You are urged to carefully review and consider the cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.Investor Relations
Jennifer Standley
Director of Investor Relations
ir@skyquarry.com
www.skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry's Nevada Refinery Gains Strategic Value as Brent Crude Surpasses $110 and West Coast Refining Capacity Shrinks
US Market News
4月前
Sky Quarry Inc. Issues Clarification Regarding New CUSIP Following 1-for-8 Reverse Stock SplitMarch 13, 2026 6:00 AM
ACCESS NewswireWOODS CROSS, UT / ACCESS Newswire / March 13, 2026 / Sky Quarry Inc. ("Sky Quarry" or the "Company") (Nasdaq Capital Market:SKYQ), an integrated energy solutions company transforming the waste recycling industry, today issued this press release to clarify the new CUSIP number for the Company's shares of Common Stock, par value $0.0001 per share (the "Common Stock"), following the previously announced 1-for-8 reverse stock split (the "Reverse Stock Split").As previously announced on March 5, 2026, the Company's Board of Directors approved the Reverse Stock Split, which became effective at 11:59 p.m. Eastern Time on March 15, 2026, with the Company's Common Stock trading on the Nasdaq Capital Market on a split-adjusted basis beginning March 16, 2026, under the existing ticker symbol "SKYQ".The Company's press release dated March 5, 2026 announcing the Reverse Stock Split inadvertently stated that the new CUSIP number for the Common Stock following the Reverse Stock Split would be 83087C204. The Company wishes to clarify that the correct new CUSIP number for the Common Stock following the Reverse Stock Split is 83087C303. All other information in the original press release remains unchanged.About Sky Quarry Inc.Sky Quarry Inc. is an integrated energy solutions company transforming the waste recycling industry. The Company is headquartered in Woods Cross, Utah. For more information, please visit the Company's website.Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon current expectations, estimates, projections, and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company's ability to regain compliance with the Nasdaq continued listing standards; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business and/or competitive factors; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on March 31, 2025 (as amended), and other documents the Company has filed with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.Investor and Media ContactsSky Quarry Inc.
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com
www.skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Inc. Issues Clarification Regarding New CUSIP Following 1-for-8 Reverse Stock Split
US Market News
4月前
Sky Quarry Inc. Announces 1-for-8 Reverse Stock SplitMarch 5, 2026 4:45 PM
ACCESS NewswireWOODS CROSS, UT / ACCESS Newswire / March 5, 2026 / Sky Quarry Inc. ("Sky Quarry" or the "Company") (Nasdaq Capital Market:SKYQ), an integrated energy solutions company transforming the waste recycling industry, today announced that the Company's Board of Directors (the "Board") approved a reverse stock split (the "Reverse Stock Split") of Sky Quarry's shares of Common Stock, par value $0.0001 per share (the "Common Stock"), at a ratio of 1-for-8 (the "Reverse Stock Split Ratio"). The Company filed its Certificate of Amendment to the Certificate of Incorporation (the "Certificate of Amendment") with the Secretary of State of Delaware on March 5, 2026, to implement the Reverse Stock Split. The Reverse Stock Split is expected to become effective at 11:59 p.m. Eastern Time on March 15, 2026 (the "Effective Time"), and Sky Quarry's Common Stock is expected to begin trading on the Nasdaq Capital Market (the "Nasdaq") on a split-adjusted basis at the opening of trading on March 16, 2026, under the existing ticker symbol "SKYQ".As disclosed in the Company's Current Report on Form 8-K filed on November 5, 2025, the Company's stockholders approved the Certificate of Amendment at a special meeting of stockholders held on November 4, 2025, authorizing a reverse stock split at a ratio between 1-for-2 and 1-for-25, with the final ratio, implementation and timing to be determined by the Board in its sole discretion. The Board subsequently determined to effect the Reverse Stock Split at a ratio of 1-for-8. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum $1.00 average closing price requirement for continued listing on the Nasdaq.At the Effective Time, every eight (8) shares of Common Stock issued and outstanding will be automatically combined and converted into one (1) share of Common Stock. The Reverse Stock Split will not reduce the number of authorized shares of Common Stock and will not change the par value of the Common Stock. The Reverse Stock Split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of the Company's shares of Common Stock, except to the extent that the Reverse Stock Split would result in fractional shares being rounded up. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 83087C204. Prior to the Reverse Stock Split, there are 29,962,839 shares of Common Stock issued and outstanding, and immediately following the Reverse Stock Split, the Company expects to have approximately 3,752,874 shares of Common Stock issued and outstanding, subject to the number of shares resulting from the rounding up of fractional shares held by registered holders.No fractional shares will be issued in connection with the Reverse Stock Split. Instead, registered stockholders who would be entitled to receive fractional shares of Common Stock because they hold a number of shares not evenly divisible by the Reverse Stock Split Ratio shall have their fractional share rounded up to the nearest whole number of Common Stock. For those stockholders who hold shares with a brokerage firm, the Company will round up fractional shares at the participant level. No cash will be paid in lieu of fractional shares.Registered stockholders who hold shares of Common Stock in book-entry form with the Company's transfer agent, Colonial Stock Transfer, Inc., are not required to take any action to receive post-Reverse Stock Split shares. Stockholders owning shares through an account at a brokerage firm, bank, dealer, custodian or other similar organization acting as nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such nominee's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Stockholders who hold shares with a bank, broker, custodian or other nominee and who have any questions in this regard are encouraged to contact their banks, brokers, custodians or other nominees.About Sky Quarry Inc.Sky Quarry Inc. is an integrated energy solutions company transforming the waste recycling industry. The Company is headquartered in Woods Cross, Utah. For more information, please visit the Company's website.Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.These forward-looking statements are based upon current expectations, estimates, projections, and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company's ability to regain compliance with the Nasdaq continued listing standards; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business and/or competitive factors; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on March 31, 2025 (as amended), and other documents the Company has filed with the SEC.You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.Investor and Media ContactsSky Quarry Inc.Jennifer Standley
Director of Investor Relations
Ir@skyquarry.comwww.skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Inc. Announces 1-for-8 Reverse Stock Split
US Market News
5月前
Sky Quarry Unlocks Strategic Value at 5,000 Barrels-Per-Day Foreland Refinery with Completion of High-Impact System UpgradesJanuary 27, 2026 1:39 PM
ACCESS NewswireExecution program advances asset readiness within a constrained regional marketWOODS CROSS, UT / ACCESS Newswire / January 27, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ), an integrated energy solutions company transforming the waste recycling industry, today announced the completion of a series of high-impact operational upgrades at its Foreland Refinery.Foreland stands as a rare energy asset in the western United States as the only permitted refinery in the State of Nevada, operating within a supply-constrained and logistically complex regional fuel market. With permitted capacity of up to 5,000 barrels per day and an estimated replacement value of approximately $70 million, Foreland represents high-barrier infrastructure that would be difficult to replicate today. The refinery supplies fuel to critical Nevada industries, including precious metals mining and lithium production.The completed upgrades significantly enhance refinery reliability, uptime, and operational readiness. As a result, Sky Quarry is now uniquely positioned to capture outsized value from tightening regional fuel markets, expand operating leverage, and convert a scarce refining asset into meaningful, durable cash-flow potential for shareholders.The improvements address core systems across the facility, including major boiler system upgrades, vacuum unit condenser replacements, critical process piping replacements, tank system repairs, and restoration of the water and oil separation system. Collectively, these enhancements materially improve durability, throughput capability, and readiness for sustained production.As infrastructure scarcity in western fuel markets continues to intensify, Sky Quarry believes these completed upgrades enhance Foreland's strategic relevance, operational resilience, and long-term value creation potential."As the only active refinery in Nevada, the work completed at Foreland strengthens the asset to support regional demand when market conditions require it," said Marcus Laun, CEO of Sky Quarry Inc. "With shifting supply dynamics across California, Nevada, and Utah, including the Benicia refinery in California scheduled to come offline in April 2026, current market indicators point to high demand this summer season. We believe Foreland is well positioned to respond."About Sky Quarry Inc.Sky Quarry Inc. (NASDAQ:SKYQ) is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt from crude oil sourced from Nevada and Utah. The Company is also advancing development-stage environmental remediation operations at its PR Spring facility in eastern Utah, focused on technologies designed to recover hydrocarbons from waste asphalt shingles and oil-saturated sands and soils. For more information, please visit skyquarry.com.Forward-Looking StatementsThis press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company's other disclosures included in the Company's public SEC filings, including the statements made under the heading "Risk Factors" and elsewhere in the Company's Form 10-K as filed with the SEC on March 31, 2025, and all amendments thereto, as well as the Company's Form 10-Q as filed with the SEC on November 14, 2025. Forward-looking statements speak only as of the date of the document in which they are contained.Investor RelationsJennifer Standley
Director of Investor Relations
Ir@skyquarry.comCompany Websitewww.skyquarry.comSOURCE: Sky QuarryView the original press release on ACCESS NewswireOriginal: Sky Quarry Unlocks Strategic Value at 5,000 Barrels-Per-Day Foreland Refinery with Completion of High-Impact System Upgrades
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