Sky Quarry Reopens Nevada’s Sole Refinery, Aiming for Full Output by July

Sky Quarry Inc. (NASDAQ: SKYQ) has restarted operations at its Eagle Springs Refinery near Ely, Nevada, following the receipt of an air permit from the Nevada Division of Environmental Protection. The facility, run by the company’s wholly‑owned subsidiary Foreland Refining Corporation, is now back online after a $300,000 repair and upgrade program completed in 2025.

Eagle Springs has a stated nameplate capacity of roughly 5,000 barrels of crude oil per day, although the refinery has not yet reported an actual production rate. The company currently holds about 15,000 barrels of crude oil in inventory and expects additional supply as operations ramp up.

After the June 22 production‑phase update, the stock surged 62.39% in a 24‑hour period, a move that reflects the restart but does not necessarily indicate the long‑term market response. Sky Quarry expects full production to commence in July.

"Securing the permit and restarting Nevada’s only crude‑oil refinery marks a significant milestone for Sky Quarry," said Marcus Laun, interim CEO. "We are committed to elevating Eagle Springs to its full operating potential and making Nevada‑refined products a more integral part of the region’s fuel supply.

Sky Quarry will continue to engage with the Nevada Fuel Resiliency Committee as the state explores fuel supply and infrastructure initiatives. The company also supports proposals to expand oil exploration and production in Nevada.

According to the U.S. Geological Survey, federal lands in Nevada contain roughly 1.4 billion barrels of undiscovered, technically recoverable oil resources. If more Nevada crude enters the market, Eagle Springs could refine the barrels locally and grow alongside the state’s oil industry.