# Sky Quarry Restarts Nevada Refinery Operations and Outlines Growth Strategy

- URL: https://stocks.freetheai.org/news/sky-quarry-restarts-nevada-refinery-operations-and-outlines-growth-strategy-4aeec7
- Published: 2026-10-14T12:00:00Z
- Category: energy; sentiment: mixed; impact: medium
- Symbols: [NASDAQ:SKYQ](https://stocks.freetheai.org/symbols/NASDAQ-SKYQ)
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Energy infrastructure provider Sky Quarry Inc. (NASDAQ:SKYQ) has resumed operations at its Eagle Springs Refinery near Ely, Nevada, following permit approval from the Nevada Division of Environmental Protection. Operated through subsidiary Foreland Refining Corporation, the facility has a capacity of roughly 5,000 barrels of crude oil daily. Sky Quarry spent about $300,000 on upgrades and maintains an initial crude inventory of 15,000 barrels to support renewed refining activity. Shares of Sky Quarry Inc. traded down 2.15% to $2.28 today.

The operational restart aims to address fuel supply constraints in Nevada and the broader western region. To secure local crude feedstock, Sky Quarry is launching a program to direct up to $50 million in third-party investment toward regional drillers. These investments will be made directly into participating producers rather than through new share issuances, enabling the company to lock in lower-cost regional supply without diluting existing shareholders.

Looking ahead, Sky Quarry expects to ramp up production through 2027 under leadership from a newly appointed refinery manager. The company is also advancing its PR Spring project in Utah, which focuses on recovering hydrocarbons from waste asphalt shingles and developing an oil sands lease estimated at 180 million barrels of oil equivalent, alongside potential discussions for a 7-megawatt power generation project.

## Key points

- Sky Quarry Inc. (NASDAQ:SKYQ) restarted its 5,000 barrel-per-day Eagle Springs Refinery in Nevada after receiving state environmental permits.
- The company invested approximately $300,000 in refinery upgrades and currently holds 15,000 barrels of crude inventory.
- A proposed $50 million third-party initiative will fund local crude producers directly, avoiding common equity dilution.
- Sky Quarry is developing its PR Spring Utah facility, targeting waste shingle recycling and an oil sands lease estimated at 180 million barrels equivalent.

## Questions and answers

### Why did Sky Quarry restart its Eagle Springs Refinery in Nevada?

Sky Quarry restarted the refinery after securing a permit from the Nevada Division of Environmental Protection. The move addresses regional energy needs and fuel constraints in the Western U.S., supported by roughly $300,000 in plant upgrades and 15,000 barrels of crude inventory.

### How will Sky Quarry fund its Nevada crude exploration program without diluting shares?

The company is targeting up to $50 million in third-party investment made directly into participating Nevada energy producers rather than issuing new SKYQ common equity. Sky Quarry will assist producers with financing relationships and long-term crude purchase agreements.

### What assets is Sky Quarry developing in Utah?

Sky Quarry is developing its PR Spring facility in Utah to extract hydrocarbons from waste asphalt shingles and exploit an oil sands lease estimated at 180 million barrels of oil equivalent, while exploring a 7-megawatt power generation collaboration.